Kim Kardashian and her sisters Khloe and Kourtney have launched their own pre-paid Mastercard credit card – the Kardashian Kard.
Aimed at teenagers, the Kardashian Kard costs $99.95 to use for a year or $59.95 for a month, and offers no interest.
Kim insists the card is designed to teach young people about money.
She said: “When we were growing up we didn’t have credit, we didn’t know what it was like to try and get your first credit card.
“But with this one you don’t need credit, you don’t even need a bank account.
“We wanted to provide people with something where they could learn their budgets, there is a spending limit on it.”
But financial experts criticised the product, arguing that the Kardashians’ extravagant lifestyle could encourage reckless spending amongst their young, impressionable fans.
Farnoosh Torabi, author of You’re So Money: Live Rich Even When You’re Not, told Philadelphia Daily News: “We are getting in to territory that I have to say is irresponsible. It lures the consumer to a product under false pretences.
“These celebrities portray a lifestyle that is aspirational. We underestimate how much celebrity culture can influence people’s perception of money and perceptions of wealth.”
Kim alone is reported to be worth $40 million dollars and the sisters have already launched a chain of retail stores, fragrance and a sunless tanning range.