Netspend Prepaid Card

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For many years, Americans have relied on their financial matters to prepaid card service. The rapid growth of transactions through prepaid cards reaches the impressive number at $37 billion per year. Every year, the number of people who choose prepaid card instead of conventional checking account is growing as well. Joining the parade, Netspend prepaid card is here and keeps building their empire to serve its customers.

Before jumping into the Netspend prepaid card review, it should be clarified that Netspend is an eligible prepaid card company since there’s a lot of people asking in the internet whether the company is a scam or not. FDCIC has announced that Netspend prepaid card is protected by them so it is safe to do the transaction using the card. In addition, Netspend also protect its user form fraud transactions with the Zero Liability Protection System that is still not available in any other cards.

Netspend prepaid card offers three types of planning for its user. The first is the Pay-As-You-Go which is the basic one. Then there is the Free Advantage Plan and the last is the Premier Advantage Plan.

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Each plan has its own specifications. The differentiation can be examined form its fees and advantages. As you can guess, the Pay-As-You-Go plan contains more fees and less advantage. While the Premier plan offers the least fees between the three plans available.

However, Netspend fees are competitive enough with other prepaid cards. Of course, there will be numerous kind of payment you should make. But you don’t have to worry because all payments are still affordable enough and won’t make your account balance trembling down in misery.

Reloading Netspend Prepaid Card

Netspend prepaid card reload process can be done through several ways. The conventional way requires you to go to the nearest shop retail and load the money there. The reload packaged can be purchased in Albertsons, Walmart, Giant Eagle, and other retails. However, all users have to pay charges for each reload purchased. Every store has different amount of fees but usually it starts form $2.95 up to $4,95.

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The company strongly advises to keeps all transaction as digital as possible to reduce charges amount. Therefore, the company also makes the reload process compatible with PayPal account. It has no fees and the reload process takes only two or three days until the cash is transferred to the Netspend prepaid card.

Does Netspend Card Can be used to Build Credit Score?

Unfortunately, Netspend prepaid card does not report the card history to the credit bureaus. Therefore, the card cannot to be used to improve credit score or repair a broken one. Here’s the explanation.

When an account is opened, Netspend only needs its user to provide name, address and email. Meanwhile, reporting process to the credit bureaus requires user’s Social Security Number. Since the Netspend does not asking for this information, it is impossible for them to make a report to the credit bureaus. However, the Netspend prepaid card is still a wonderful option for those who don’t have checking account.