About Lender
Net Pay Advance is a direct lender offering payday loans, installment loans and lines of credit to U.S. residents, online. They are licensed in several states including California, Kansas, Missouri and Utah and partner with state licensed lenders in Texas to ensure safe and secure lending. No need to visit a physical location, apply online and get funds as soon as tomorrow. They prioritize convenience, apply online and get funds fast.
Net Pay Advance is a responsible lender and complies with state and federal laws. Borrowers must meet certain requirements, 18 years or older, have a valid checking account and steady income. They may also review your credit history to approve you. They also have a customer loyalty program that rewards on time payments and referrals with discounts on future loans, they want to build long term relationships with customers.
Key Features
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Multiple Loan Options. Payday loans, installment loans and line of credit.
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Online Application. Quick and easy online application.
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Fast Funding. Funds deposited into your account as soon as tomorrow, depending on your bank.
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Transparent Fees and Rates. They show you upfront what you will pay.
Pros and Cons
Pros
Multiple Options. Choose from various loan types or amounts that fit your needs and situation.
Quick Application. Simplified and fast application process, no paperwork or waiting.
Fast Funding. Funds deposited as soon as approved.
Flexible Terms. No one size fits all, choose a repayment schedule that fits your situation.
Cons
Limited in Some States. Not available in all states so if you live in one of those states you may not be able to use the service.
Short Term for Some Loans. Short repayment period can be tough for borrowers if they don’t have the funds available in that short time frame.
Not for Long term Needs. High interest rates and sometimes short repayment terms may not be suitable for long term financial planning or big financial needs.
Reliability
BBB Accredited. Net Pay Advance is accredited by the Better Business Bureau (BBB) with an A- rating, they practice good business and customer service.
State Licensed. The company operates according to state regulations and complies with state laws for safe and secure lending.
4.6 Trustpilot Rating. Net Pay Advance has a 4.6 rating on Trustpilot.
Direct Lender. They are a direct lender with transparent practices.
How to Apply for a Net Pay Advance Loan?
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Visit the Website. Go to the official website of Net Pay Advance.
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Access the Application. Once on the website's homepage, you'll likely see a prominent "APPLY NOW" button. Click on this button to initiate the application process.
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Provide Required Information. The application process will involve providing the necessary information for your loan request. You'll need to enter personal details, employer and pay cycle information, bank account details, and debit card information.
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Choose Loan Amount. During the application, you will likely be prompted to select the amount of money you want to borrow.
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Sign Contracts. You will be required to sign contracts as part of the application process. This might seem unusual since you're not yet approved, but Net Pay Advance does this to streamline the time from approval to funding. The contracts are only valid if your loan is funded, so they become void if your application is denied.
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Submit Application. You can submit your application after completing all the required fields and signing the contracts.
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Review and Approval. Net Pay Advance will review your application as quickly as possible. In many cases, a decision is made promptly. If your application requires further review, you can expect a decision within 24-48 hours.
Conditions and Requirements
Conditions
Loan Amounts. Up to $1,200 for payday loans and up to $3,000 for line of credit.
Loan Terms. Terms go up to 180 days, 6 months to repay.
Interest Rates. It may be up to 939.05% APR.
Requirements
Age. 18 years or older.
Bank Account. Active bank account, for deposits and payments.
Residency. Live in one of the states they operate in, California, Kansas, Missouri, Tennessee, Texas, Utah.
Ways to Receive the Money
In California, Texas and Kansas Net Pay Advance is a direct lender and offers online payday loans no credit check. Loans available same day and funded on your debit card. Net Pay Advance is open from 9:00 am to 8:00 pm (CT). They are open from 11:00 am to 3:00 pm (CT) on Saturday. Once you are approved for a loan from Net Pay Advance, the funds will be deposited into your bank account the next business day if you apply and are approved before cut off. To get the funds you will need to provide your bank account information during the application process. Once the funds are in your account you can use them for whatever you need. Just make sure to read and understand the loan terms, including the repayment schedule, interest rates and fees so you can pay on time and avoid any additional fees or charges.
Products
Payday Loan. Payday loans are short term loans that are due on your next payday. Net Pay Advance offers payday loans which can be paid in one lump sum payment in 14 days.
Installment Loan. Installment loans are longer term loans that allow you to make fixed payments over time. Net Pay Advance offers installment loans which can be paid over 180 days depending on your preference and financial situation.
Line of Credit. Net Pay Advance also offers line of credit, you can draw funds up to a predetermined credit limit as needed. You only pay interest on the amount you borrow and the line of credit can be paid over time with flexible repayment terms.
Other Personal Loans
Reasons for Loan Refusal
Loans are denied for reasons such as low credit score, not enough income, unstable employment history, borrower may not be able to repay the loan. High debt to income ratio also indicates financial strain and can be a reason for denial. Incomplete or inaccurate information in the application, not meeting age or residency requirements, or unable to verify identity can also result to denial. These factors tells lenders that the applicant may default on the loan.
How to Repay a Net Pay Advance Loan?
To pay back a Net Pay Advance loan you can set up automatic payments from your checking account on the due dates, so you pay on time. You can also pay manually through the online portal or contact customer service for help. You can pay off the loan early without penalty and save on interest. Just make sure to follow the repayment schedule to avoid extra fees or credit impact.
Loans like Net Pay Advance
OppLoans
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Rise Credit
RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight.
OneMain Financial
OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid.
Universal Credit
Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.
Editorial Opinion
Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability. Carefully review all the terms and conditions of your payday loan contract. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.Important
How to Choose a Lender
Additional Resources
- Full Net Pay Advance Account Review
- How to Apply For a Net Pay Advance Loan
- How to Repay a Net Pay Advance Loan
- Net Pay Advance Mobile App for IOS or Android