Netspend is a pre-paid debit card that can be replenished regularly and with direct deposit.
Unlike bank accounts or credit cards it does not require personal information like name or social security number.
As a result, Netspend activity is not reported to credit bureaus and will not impact your credit score.
Do prepaid cards affect your credit score?
There’s No Credit Effect — Good or Bad
Prepaid cards, unlike secured credit cards, aren’t reported to the three major credit reporting agencies, so using one won’t affect your credit score. That means you can’t use it to help build your credit as you would with a credit card (or a secured credit card).
Can netspend be trusted?
The answer is no, NetSpend is a legitimate prepaid debit card company. As a company, NetSpend was founded in 1999 and now serve over 10 million customers. If you’re on the fence about trusting one of these prepaid debit cards, that should help build confidence. That being said, NetSpend is not cheap.
Can a prepaid card be traced?
A) Yes, they do keep track of purchases. Almost all prepaid gift cards require some form of registration where they collect different data about you: name, address, zip code, phone number, etc. The gift card becomes an account, and you can review your purchase history just like a regular credit card.
What happens if you lose a prepaid debit card?
If you load $500 onto a prepaid debit card and you lose your card then it is as if you just lost $500 in cash. The secured card issuer will send you a new card and there are fraud protections in place to protect you in case any unauthorized charges occurred before you reported the card as lost or stolen.