Netspend Mastercard Reviews? Does It Help/Hurt Your Credit?

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ghettojuice
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Netspend Mastercard Reviews? Does It Help/Hurt Your Credit?

Postby ghettojuice » Sun Aug 04, 2013 4:03 pm

So the company I work for is pushing us to open up Netspend Mastercard accounts and have our paychecks deposited onto them. Don't have a credit card and have never had one in my life so this is all new to me.

My buddy says that Netspend is a prepaid card and that it won't be on my credit report. Then if that is true why do they need your Social Security number and all that to open the account. If it is only a prepaid gift card that don't make sense. Is the need for that to report it under my file and will that help my credit or not?


MemberSince99
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Postby MemberSince99 » Sun Aug 04, 2013 5:22 pm

Your employer must be some fly by night outfit that is saving money by pushing that or getting something out of it, rather than using direct deposit like 99% of them.

It is a prepaid debit card and he's right it won't be on your credit report, UNLESS something goes wrong and they end up turning it over to vultures who hunt you, so nothing GOOD will ever be on your credit report as a result of it, let's say.

It's not a gift card, it's a debit card that can be used anywhere a credit card can be. But I would not want to get paid that way and deal with Netspend vs having my pay deposited into my checking account.

Guess you gotta bend over when your master I mean employer demands it, as we all do these days, but I'd be looking for another job.

ghettojuice
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Postby ghettojuice » Sun Aug 04, 2013 6:24 pm

You think the company is getting kickbacks or something. My boss claimed the reason was because it costs less that processing paper checks because a lot of employees don't have bank accounts and then can only accept checks for payment and not electronic deposits to bank accounts and it costs more money to do the checks. Netspend Mastercard wasn't the only prepaid card being pushed because he also was saying Walmart blue bird and some other were good ones to use.

That sux to hear it won't help my credit report. If i am gonna hassle with a card I want it to be doing something for me because I am happy as is with the paper checks.

ghettojuice
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Postby ghettojuice » Sun Aug 04, 2013 6:36 pm

OT do you find it kind of weird that most of the pics on Netspend website are African Americans. I thought banks are supposed to be neutral and not favor/disfavor races and genders. If everyone were white that would be weird/wrong too. It should show both.

MemberSince99
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Postby MemberSince99 » Sun Aug 04, 2013 9:21 pm

I'm sure he's right - it's cheaper and saving them money to do that.

But if you DO have a bank account they should offer direct deposit and let you skip the pre-paid card.

No that card won't help you.

And I hate to say it but they may be marketing it to African Americans. It's hard to be 100% totally politically correct all the time - then you have to have X % hispanics, X % AA, X % Jews, X % muslims, X % Asians, X % European Americans, X % Native Americans, X % men, X % women, etc etc etc it just gets ridiculous. It's just really hard to properly suck up to everyone and kiss all of their behinds without also somehow offending some or all of them, honestly. But they probably are marketing to that demographic.

DavidNY
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Postby DavidNY » Sun Aug 04, 2013 9:26 pm

The best way to be paid is with direct deposit.



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