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.

2.9
(25 Ratings)

NetCredit PayOff

Advertiser Disclosure

Repayment of loan

It is necessary to understand the total amount of the loan to create the appropriate repayment plan. Unlike many other lenders, this financial organization does not charge application fees, insufficient funds, or prepayment penalties. But before taking NetCredit loans out, borrowers should know that they can be charged a late payment fee ($10 - $15 depending on the state) and an origination fee which forms part of the APR, also varies by state and reaches up to 5% in some cases. Such a fee covers the cost of the application process and all associated costs. Also, the origination fee is not included in the total proceeds of the existing loan.

For the comfort of its customers, NetCredit offers different payment options, such as debit cards, prepaid cards, paper checks, money orders, one-time EFT, MoneyGram, and Western Union. Also, during the application process, the lender's new customers get the opportunity to select AutoPay (Electronic fund transfer (EFT)) as their preferred option and never miss a monthly payment.

Conditions of loan extension

NetCredit loan borrowers in certain states (Alabama, California, Delaware, Georgia, Idaho, Illinois, Louisiana, Missouri, New Mexico, North Dakota, South Carolina, South Dakota, Utah, and Wisconsin) have an option to make more money by refinancing the existing loan in a fast and easy way. If eligible to borrow more funds, select the amount of money necessary and click through to the contract. After the approval, additional funds will be deposited into the borrower's bank account in a matter of days.

Early payoff

Early payoff of a personal loan can make credit cheaper and help to save money on interest. Settling a loan before the established term is not prohibited, and the finance company does not charge any prepayment penalties.

FAQ

How do I make a payment on NetCredit?

There is an option to repay the personal loan debt using a debit card, a prepaid card, a check, or a money order. It is also possible to pay through Western Union or MoneyGram and use the Electronic Fund Transfer (EFT).

What happens if you don't pay back NetCredit?

In case of late or missing loan payments, additional fees and penalties can be added to a higher interest rate. Usually, 30 to 60 days past a bill's due date term is considered to be a late payment. Late and missing payments may affect the borrower's credit history. Depending on the specific situation, the lender can send delinquent accounts to a collection agency.

Can you pay off the NetCredit loan early?

NetCredit personal loans can be repaid earlier as they carry no prepayment fees. Repaying a loan before the loan term date helps save money on interest. NetCredit does not charge a prepayment penalty.

Can NetCredit sue you?

Any creditor has a right to sue clients once they go into default. After having several delinquent payments, a borrower can be charged additional fees and penalties, and their account sent to a collection agency.

Offers
Rating by Finanso®
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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.

2.552
(21 Ratings)
Recommended FinScore™
0
300
650
1000
1000.00 – 10000.00 $
Rate
i

Interest rate

to 155.00 %
Term
i

Loan term for the financial product

6 months – 60 months
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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.

Recommended FinScore™
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1000
100.00 – 20000.00 $
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Interest rate

from 0.05 %
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Rating by Finanso®
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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.

Recommended FinScore™
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300
650
1000
2000.00 – 100000.00 $
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Interest rate

6.34 – 35.89 %
Term
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Loan term for the financial product

2 months – 72 months
Rating by Finanso®
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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.

Recommended FinScore™
0
300
650
1000
100.00 – 4000.00 $
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.

4.25
(20 Ratings)
Recommended FinScore™
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300
650
1000
to 1500.00 $
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Interest rate

to 160.00 %
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NetCredit reviews 2024
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4.8
Pros
My initial loan experience was seamless, featuring efficient processes and excellent customer service. I was genuinely pleased and taken aback by this company's professionalism.
Complain
2.2
Cons
I was initially approved for a $1,650 line of credit with NetCredit. As part of the verification process, I submitted my two latest paystubs and bank statements as requested. Surprisingly, I received an email claiming they were "unable to verify income". Despite re-applying thrice and providing even more documentation, I continually received the same message. Furthermore, I got no response even after emailing them. Despite my employer using ADP, a leading payroll management company, they still couldn't verify my income. I'm beginning to question whether they are either inept at their lending processes or just gathering personal data. Moreover, this procedure resulted in a hard inquiry on my credit. I'll be contesting this and cautioning others to think twice before considering NetCredit, given my experience of not receiving the promised funds.
Complain
1.4
Cons
I've had a challenging experience with this company. Firstly, I've been grappling with a fraud case for three years, having provided them with information from the CFPB, a police report, and bank statements. Secondly, I've spent hours trying to reach a manager, only to be told I'll be contacted within "48 hours". Yet, I always find myself initiating the follow-up, re-explaining my situation each time. Their main concern seems to be money, not customer assistance. Lastly, I'd advise caution when dealing with this company based on my experience; it feels they prioritize their interests over professional service or trustworthiness.
Complain
1.8
Cons
This was my second attempt with this company. I only requested $500, but they approved me for $2,500 and directed me to view the contract at the bottom of the page. To my surprise, the process reset when I tried. After reaching out to them, they declined my application without a clear reason. I've documented this with screenshots. I won't be trying with them again.
Complain
1.8
Cons
Be cautious with this option. On a $1650 loan, I incurred $555 in fees within just 3 months. If you're only making the minimum payments, which are not insubstantial at $150+, the fees are nearly half the payment amount. It can be financially detrimental in the long term.
Complain
4.4
Pros
NetCredit has been fantastic to work with. I hope to refinance and obtain another loan through them in the future. They genuinely make every client feel valued. Many thanks!
Complain
2
Cons
Beware of their exorbitant rates and fees. Despite having repaid almost the full amount borrowed, my remaining balance is still 2-3 times the initial amount. It feels like a predatory lending practice.
Complain
1.4
Cons
I received pre-qualification for a loan on NetCredit and subsequently applied and got accepted. However, shortly after setting up my line of credit, it was unexpectedly closed, and I was informed that I had been denied.
Complain
2.4
Cons
I decided to cancel my application before its completion due to some inconsistencies I observed. Their customer service line was peculiar; it gave limited options and often led to long hold times. The representatives I spoke with seemed unprofessional or perhaps not genuine. I proceeded with providing some of the requested information, but when they called back and asked for my full social security number, I opted to discontinue the process. Additionally, the application presented bi-weekly payment options when I had initially chosen monthly. The overall terms and conditions seemed excessive and added to my reservations.
Complain
2.2
Cons
Be cautious. They assured me that checking eligibility wouldn't impact my credit. However, after providing all my details, they did a hard credit pull and subsequently declined my application. It's concerning when there's a discrepancy between what's promised and the actual actions taken. If they weren't going to approve, why perform a hard pull after stating otherwise?

Complain
Company rating
2.9
/ 5
25 reviews
Application
3.0
Support service
2.8
Mobile App
3.0
Service quality
3.0
Your satisfaction level
2.9
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