Choose a country
United States
Select a city
Select a city
Select language
Select country
Choose a country
United States
United States
Việt nam
Rating by Finanso™

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.



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.


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

Calculate loan payments in NetCredit

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

Loan amount

Enter the desired loan amount

1000 $
10000 $
Loan term

Specify the loan term for the calculation


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
Your complaint has been recorded
Invalid username or password
Please log in to like/dislike
Invalid SMS code has been entered
All NetCredit’s reviews by May 2022