The Kardashian Kard was pulled off the market earlier this week, in a sign that some semblance of reason and decency exists in the American commercial markets today. Consumer advocates, faithful followers of business news, and parents who would eventually have to co-sign on their daughters’ future car purchases and education loans, breathed a huge sigh of relief. Gentle readers, you must recall that I found the hideous product to be nothing more than blatant financial entrapment, a road to ruined credit and financial slavery in the name of keeping up with a trio of silly wealthy sisters. Other consumer advocates were deeply concerned that the card’s terms would entrap financially unsophisticated consumers and the “unbanked” in situations that could cause huge financial problems down the road. My concern in all of this was, of course, the groups of young African-American women who might have fallen into either one of those two groups, and found themselves stuck in bad situations.
The card is gone. However, this doesn’t mean that all dangers of financial follies have passed. University National Bank, which issued the card, is still a chartered banking company. The Revenue Resource Group, LLC is also still around, as are other companies that also operate with shady tactics. I think I will go ahead with plans to sit down with Little Sister and explain the dangers of using cards like the one the Kardashians had offered. Also, all you other readers, the mothers, aunts and big sisters everywhere need to keep teaching the young women in your lives and talking to them about money. How to earn it honestly, respect it maturely, invest it patiently, save it diligently and spend it wisely. If they do all of this, they will be in control of money, instead of the other way around, and they’ll lead much healthier lives for it.