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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.

NetCredit apply 

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How to apply

Although loans from NetCredit are highly accessible, personal loan lenders can't originate their products without examining some documents and verifying a borrower's income, employment, identity, and address. Therefore, what you need to apply for a loan is your passport, Social Security card, Birth certificate, State or federal ID that can prove your identity; bank statements, employee pay stubs, 1099 or W-2 forms to prove your income; lease or mortgage agreement, utility bill, statement of benefits to prove your address.

Application details

Applicants typically find out whether they are approved or not within the same business day. However, in some cases, lenders can extend this term up to three business days and require more financial information from their clients. Applicants who submit their application before 7:00 am from Monday to Friday can receive their funds on the same business day.

Reasons for rejection

Even such a loyal lender as NetCredit can reject an application for a loan for a number of reasons. For example, if the loan principal is too large, if a borrower has extremely bad credit, if his credit report contains errors, or if his outstanding balance is high. Fulfill the application for NetCredit personal loans carefully, as missing information or lack of verification may become a reason for refusal too.

NetCredit only accepts applications sent via the internet. Through this, it performs an analysis of the financial situation of its candidates and makes the best loan decision for them. This process does not affect the borrower's credit history. The entire application process should only take a few minutes to complete.

How to apply for a NetCredit personal loan?

Here is what you can expect from applying for a loan online. First of all, you will set up an account and provide the lender with some basic information (soft credit inquiry does not affect credit). Secondly, you will create an account using your email and selecting a password. Remember that if your state is not eligible, the application process will stop there. If you qualify, NetCredit will provide you with several loan options to choose from. If you are not satisfied with them, you can click on the "Modify loan details" button to adjust your personal loan offer. After that, you will have an opportunity to choose the loan and repayment terms that fit you best.

After signing the contract, you can wait for the final approval of the loan. Once you have approved, you will be requested to put your signature on a contract. Then NetCredit will conduct a final credit check and fund you a loan. To get detailed instructions regarding the application process, visit the "Personal Account" section of the article.

Calculate loan payments in NetCredit

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

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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.
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All NetCredit’s reviews by June 2022
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