Choose a country
United States
Select a city
Select a city
Select language
English
Select country
Choose a country
United States
Canada
España
México
Philippines
United States
Việt nam
Казахстан
Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4.0

NetCredit

Advertiser Disclosure

About NetCredit

NetCredit is a licensed financial company based in Chicago and established in 2012. NetCredit's parent company is Enova International. In some states, Republic Bank & Trust Company operates as the company's partner for loans underwriting and approval.

The lender has many options offering personal loans and credit lines online, with a constant interest rate over the loan term and equal monthly installments. NetCredit is known for its mission to make credit accessible to middle and lower-class consumers. NetCredit loans are not exclusive but are available to any applicant with a stable and demonstrable source of income. It is possible to receive a loan on the first business day.

NetCredit products suit most people with bad credit, no property which can be used as collateral, and no co-signers. Most of the financial company's customers urgently need funds and are ready to pay higher annual percentage rates.

Pros and cons of NetCredit

NetCredit is an online lender with several advantages that distinguish the company from traditional lenders. Among the pros can be noted:

  • Availability for clients with poor credit. There is no need to have good credit to pre-qualify for a NetCredit loan. The borrower should only have a minimum credit score of 500, but in some cases, the minimum credit score for personal loans can downsize up to 0. According to the company's principle, people are more than numbers. The company will decide whether to originate the loan under the financial profile.

  • High amounts. There is an option to get a huge loan amount of up to $10.000 within a single business day. However, an applicant needs to have a decent source of income to get the highest amount with the lowest interest.

  • Easy money. It is possible to receive money the same day you apply for the loan. All you need to do is apply before 7:00 am, accompanied by the required documents.

  • No co-signer or collateral is needed. NetCredit personal loans are affordable and unsecured. Only the borrower themself is responsible for the loan.

However, some people consider NetCredit loans their last option for several reasons. Among the disadvantages can be mentioned:

  • High annual percentage rate (APR). Such personal loans may be unaffordable for some customers. When considering a NetCredit loan, it's important to note that typically, personal loan APRs are between 6% and 36%, and the National Consumer Law Center considers 36% to be the upper limit of an affordable interest rate. NetCredit loan is recognized as a high-cost loan for its high APR of up to 155%.

  • Loan terms vary by state. The other disadvantage of this type of personal loan is its unavailability in most states.

  • High origination fee. Up to 5% if the interest rate is 36% or less.

  • Late payment fee. For the payment delay of 15 days, the company's client can be obliged to pay $25 or 5% of the payment due.

Loan terms and conditions

NetCredit personal loans refer to unsecured personal loans, which means no collateral is required. Such loans can be originated in Utah, Idaho, Alabama, Georgia, Illinois, Delaware, Missouri, Virginia, Louisiana, Wisconsin, New Mexico, North Dakota, and South Carolina. Loan terms may significantly differ from one state to another because of the difference between the laws of each state.

For instance, the minimum loan amount in Georgia ($3,100) is three times higher than in Arizona ($1,000). Still, the APR for Georgian NetCredit personal loans is less (34% – 59% compared to 34,99% – 99.99% in Arizona and 34% – 155% in Idaho.

Borrowers can obtain loans ranging from $1,000 to $10,000, with APRs ranging from 34% to 155%. Very few personal lenders offer such high loan amounts. The minimum term is six months, and the maximum duration is 60 months (5 years).

Also, the company offers lines of credit that lets the borrower withdraw as much cash as he needs at any point in time and pay it back on his timeline. Remember that NetCredit interest rates for lines of credit are variable. Floating rates fluctuate depending on a special index or an underlying benchmark interest rate.

Funding a loan

The process of getting a personal loan takes between 1 and 3 days, but it is possible to receive the money the next day if the request was made from Monday to Thursday. You need to provide accurate information by completing the form and submitting the required documents instantly.

Then NetCredit will conduct a soft credit check. This process won't affect the borrower's credit score. The next step after the preapproval is filling out an online application that asks for more details like the loan purpose, address, Social Security number, current income, and employment. The lender does not have any restrictions on how borrowers can use their loan funds. Also, at this step, borrowers should indicate their ideal loan amounts and repayment terms.

If the application for a NetCredit personal loan is approved, the borrower will receive a loan offer with information about the monthly payment amount and terms. If the borrower is unsatisfied with his personal loan, he can submit a request for other loan options, including a higher or lower monthly payment amount or repayment period. Before funding a loan, NetCredit conducts a hard credit check, which can temporarily affect credit score, as the borrower's payment history is reported to major credit bureaus.

FAQ

What is NetCredit?

NetCredit is a Chicago-based online lender. It originates personal loans and credit lines online within one business day, even for customers with poor credit.

Who owns NetCredit?

NetCredit's parent company is Enova International Inc., which has four other subsidiaries and more than 7 million customers in Brazil and the USA.

How do you qualify for NetCredit?

The main requirements for obtaining a NetCredit personal loan are being of legal age to apply and receive loans (18 years old in most states; 19 years old in Alabama and Delaware; 21+ in Mississippi) and having a valid personal checking account, a verifiable source of income, and an active email address.

How much can you borrow from NetCredit?

Loan amounts are up to $10,000 in 13 states or up to $10,500 in California. The minimum loan amount for a NetCredit personal loan in most states is $1000.

What type of loan is NetCredit?

NetCredit provides fixed rate personal loans with high APR and repayment terms from 6 up to 60 months (varies by state).

Is NetCredit a legitimate company?

Yes, it is legitimate and not aimed at deceiving its customers.NetCredit has an A- rating from the Better Business Bureau and is not BBB accredited. NetCredit has legally granted thousands of loans to date. NetCredit was involved in litigation in 2018 because of its high-interest rates. However, this has not affected the company's ability to originate loans.

Company documents

Privacy Policy
Terms of use
Rates and Terms

Our brilliant, focused and, dare we say, personal team is passionate about helping hardworking people like you get access to fast, trustworthy credit. So you can stop worrying about your finances — and get back to what matters most.

© NetCredit

Financial products

NetCredit
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

0
Recommended FinScore™
0
300
650
1000
$1,000-$10,000
Rate
i

Effective interest rate on the product

up to 155%
Term
i

Loan term for the financial product

up to 60 months

Similars products

Happy Money
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

5
Recommended FinScore™
0
300
650
1000
$5,000 - $40,000
Rate
i

Effective interest rate on the product

up to 24.99%
Term
i

Loan term for the financial product

up to 60 months
MaxLend
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$100-$3,000
Rate
i

Effective interest rate on the product

up to 841%
Term
i

Loan term for the financial product

up to 300 days
Opploans
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$4,000
Rate
i

Effective interest rate on the product

up to 160%
Term
i

Loan term for the financial product

9-18 months
East Line Lending
Personal Loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$200-$10,000
Rate
i

Effective interest rate on the product

up to 780%
Term
i

Loan term for the financial product

up to 12 months
Speedy Cash
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.33
Recommended FinScore™
0
300
650
1000
$50-$26,000
Rate
i

Effective interest rate on the product

up to 460%
Term
i

Loan term for the financial product

up to 30 days

Calculate loan payments in NetCredit

NetCredit calculator will allow you to calculate an approximate payment schedule for the loan

NetCredit calculator
Interest rates are given in accordance with the rates of the NetCredit of 25.11.2022
Loan amount
i

Enter the desired loan amount

USD
USD
1000 $
10000 $
Loan term
i

Specify the loan term for the calculation

months
days
6
60
State

What to focus on before applying for a loan with NetCredit

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between NetCredit and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All NetCredit’s reviews by november 2022
Leave feedback
1 reviews
5
Advantages
When I applied for a serious loan amount for a period of 5 years instead of the standard days of consideration, it turned out as much as three days, but the main thing is that I managed to get money at an adequate percentage, and all due to the fact that I provided all the information that was required of me, including additional ones. I have used NetCredit services before this big loan, so I know what to expect from them. Everything is written in the contract according to the points, there are no pitfalls that would seem doubtful to me. Now, as soon as I pay, I will share a new review, but for now I recommend the company
Disadvantages
no disadvantages
Complain
1 reviews
5
Advantages
I use the services of this lender and receive money if necessary. It is convenient that there is a button on the site by which you can check the availability of credit, so I got my first loan from them at the time) A lot of information is required when making an application, it's good that you don't need to take the documents anywhere and pull up the guarantors too, all online without visiting bank branches. The conditions are individual for everyone, there is even a difference in which state you apply for, so you need to take all this into account, and not judge the same as the others. I have a positive opinion about the company, if necessary, I will contact them again
Disadvantages
No
Complain
1 reviews
5
Advantages
The company is loyal to customers, offers adequate conditions for obtaining a loan for personal purposes, the amount and term may vary depending on your requests and requirements, but you need to understand that the lender may not give as much as you deemed necessary based on the level of your salary and credit history. It is not difficult to make out, the first thing you do is create a personal account, and through it you will submit an application, which is considered during the day, only after the money is transferred if approved, but even this requires a preliminary call from an employee of the company. In general, it is not difficult to get money with them
Disadvantages
No
Complain
1 reviews
5
Advantages
It's easy to apply for a loan, besides there is an opportunity to choose the optimal amount for yourself and a period of up to 60 months. The lender has a license, due to which his activity is legal, and for me as a client this is just another reason for trust. The conditions are different, the maximum amount will not be given if the earnings are not great, so you need to keep this in mind and do not risk submitting to the maximum-they will refuse. In terms of data security, they also took care of it-you can reset your password on the site so that no one hacks your account, this is important and all you need to do is click the "Forgot Password" button, and then install a new one according to the standard replacement procedure
Disadvantages
No
Complain
1 reviews
Personal loan Go
0
Advantages
You can take a loan on more favorable terms, but this is if a decent salary, otherwise you can not count on a lot, and I don't need a lot) I like that if you send a request before 7 o'clock, then you really get the money on the same day. It is really easier for me to make payments in parts with a certain step, or at once at the end of the term, in the latter way. It is better not to allow delays, because the fines for them are not small, they are always warned about this and the contract also states. I don't really like the design of the site, everything is simple, but the main thing is clear and does not affect the result of lending
Disadvantages
No
Complain
Overall company rating
4.0
/ 5
5 reviews
Execution of an application
4.0
Support service
4.0
Mobile app
4.0
Service quality
4.0
Your satisfaction level
4.0

Similar companies

Approved Cash
1865 Executive Park Dr NW, Cleveland, TN 37312
+1 (888) 227-4758
AmeriCash Loans
AmeriCash Loans 2400 East Devon Avenue Des Plaines, IL 60018
+ 1 (888) 907-42-27
Mission Loans
19500 Jamboree, Suite 300 Irvine, CA 92612
855-959-4500
Accredited Debt Relief
9525 Towne Centre Dr, Suite 100, San Diego, CA 92121
800-497-1965
LoanMe
1900 S. State College Blvd, Ste 300, Anaheim, CA 92806
844-956-2663