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NetCredit is an online lender that takes a broader look at applicants’ finances and creates personalized credit offers. Depending on your state, your loan may be originated by NetCredit or one of its partner lenders. Borrowers can choose an amount that meets their needs and select from several flexible payment options. NetCredit reports loan information to TransUnion and Experian, two major credit bureaus.
Pros & Cons
- No prepayment penalties
- Lower credit scores may be accepted
- Lines of credit up to $4,500
- Loans from $1,000 to $10,000
- Rewards programs for lines of credit
- Not available in every state
- High interest rates
NetCredit is an online lender that provides unsecured personal loans with no use restrictions. Find out if you’re eligible for a loan or line of credit on the company website without affecting your credit score.
Top NetCredit Reviews
It was very easy to apply and get approved for a loan with NetCredit. They are very professional and funding took just one day. I would definitely use them again for any future lo...Read full review
This is the second time I have been approved for funds thru Net Credit and I could not be more satisfied by the customer service I received. ... I look forward to paying this loan...Read full review
What is NetCredit?
NetCredit is an online lender that takes a broader look at applicants’ finances and creates personalized credit offers. Depending on your state, your loan may be originated by NetCredit or one of its partner lenders. Borrowers can customize the loan amount to meet their needs and select from several flexible payment options. NetCredit reports loan information to TransUnion and Experian, two major credit bureaus.
Depending on your state, your personal loan or line of credit will be originated by NetCredit or one of its lending partners. Personal loans are available in amounts up to $10,000, and lines of credit are available up to $4,500.
Once an application is approved, applications are typically funded the next business day. Approval is subject to additional verification, and failure to provide additional documentation promptly may delay funding.
How does NetCredit work?
NetCredit offers personal loans and lines of credit. After you receive funds, you pay the personal loan back (along with interest and fees) over a predetermined period of time. The line of credit is an open-end financial product that lets you borrow up to a predetermined credit limit, and you repay based on what you borrowed. Payments are made gradually over scheduled due dates.
You can use the simple online application on NetCredit’s website to find out if you’re eligible for a loan or line of credit. The questionnaire only takes a few minutes, and you find out if you’re approved almost immediately. You need to have certain information on hand, including:
- Income amount
- Employment details
- Social security number and date of birth
- Length of employment
NetCredit can also help you customize your personal loan or line of credit to suit your needs. Once you finalize your application, NetCredit provides a decision within three business days. Approved applications are typically funded the next business day.
NetCredit reports to two credit bureaus, TransUnion and Experian. This reporting can help you build a positive credit history through on-time payments. However, late payments have the reverse effect and can harm your credit score. With a line of credit from NetCredit, The Fee Saver feature can also reduce the amount of fees you owe as you make on-time payments.
NetCredit loan requirements
Instead of basing your eligibility solely on your credit score, NetCredit considers your broader financial situation to determine your creditworthiness. NetCredit requires that customers be of legal age to apply for and receive loans. Other requirements to get funding include having a valid personal checking account, an active email address and a verifiable source of income.
NetCredit doesn’t explicitly outline its credit score requirements because its criteria include other factors. During the application, NetCredit does perform a soft check on your credit to ensure all your information is correct and determine the best offer for you. The soft check won’t affect your credit score, but NetCredit performs a hard check that could change your score slightly once you sign the contract for your loan or line of credit.
NetCredit lines of credit
Depending on your state of residence, you may also be eligible for a line of credit with NetCredit. Lines of credit range from $500 to $4,500 and give customers ongoing flexibility to take cash advances up to their available limit.
NetCredit loan refinancing
NetCredit has two different options for loan refinancing:
- You can borrow more money and start a new contract and repayment schedule
- You can reduce your payment on your current loan with a new contract and repayment schedule
Currently, NetCredit only offers loan refinancing for existing customers. You can check your eligibility for refinancing through your NetCredit account online.
NetCredit interest rates and fees
At the time of publishing, NetCredit offers annual percentage rates (APRs) that range from 34% to 155% APR, depending on the state where you live and your overall creditworthiness. Depending on your state, an origination fee may apply. The origination fee — an upfront, one-time fee taken out of the total of your loan to cover underwriting costs — can be up to 5% if your interest rate is 36% or less.
Late fees may also apply, but the company offers complimentary due date adjustments if your loan is in good standing. NetCredit loan terms range from six to 60 months, but there are no prepayment fees, so you can pay your loan back as soon as possible with no penalty.
If you open a line of credit with NetCredit, you’ll have to pay two types of fees:
- Cash Advance Fees are charged when you take out an advance. They’re deducted from the amount of the advance.
- Statement Balance Fees are charged every billing period. They’re calculated based on the amount of principal you have outstanding at the end of the period, minus any Fee Saver reductions. If your principal balance is under $25, you do not incur a Statement Balance Fee.
Instead of charging compound interest, NetCredit personal loans charge simple interest, which is calculated off the remaining principal balance of the loan and usually less expensive than compound interest.
How long does NetCredit take to approve an application?
NetCredit offers eligibility decisions in seconds. If eligible, once you select and sign your agreement, you'll typically receive a final decision within the same business day. Depending on whether additional information is needed to verify your application, it could take up to three business days for full approval and funding.
Does NetCredit verify income?
Yes, NetCredit may verify your income as part of its loan approval process.
Does NetCredit do a hard inquiry?
Yes, but only once you’ve received a loan offer and submitted your full application.
Does NetCredit report to credit bureaus?
Yes, NetCredit reports to TransUnion and Experian.
Is NetCredit legit?
Yes. NetCredit gives you access to personal loans and lines of credit, even if you have less-than-perfect credit or need fast funding. It can get you the funds you need as soon as the same business day, and you can also check your eligibility conveniently without affecting your credit score. Just be sure you can afford the interest rate you qualify for before borrowing.
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The process was very easy and user friendly. The experience was very good. I would recommend others use your service. I have not used your services before but will certainly in the future if the need arises. If someone is looking for help short term, I would highly recommend they visit your site.
Great experience everything was fast and simple. Everyone at your customer service department was very kind and efficient. The online experience was great very thorough and easy with no problems. I got my money quickly the next morning which was amazing.
I like to say thanks for Net Credit for approving me for a line of credit. It was easy application process to get qualified and then proceed with your offer. I called customer service a couple different times to help give me some understanding of a couple different issue. Both ladies I talk to was really friendly and gave me the advice I needed to know and they make you feel like a very welcome customer for them. The main considerable thing when you take a cash advance out from your line credit try to just take out low amounts so your balance fees won’t accumulate to be real high for you and paying out a lot more than it’s worth. But all and all like I said so far a wonderful great experience and make you feel like a very welcome valuable customer.
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The application process was easy to do, and I had an answer in just a few minutes. After I was approved, I had the funds into my account in less than 2 days! Which has brought great relief. Especially in making this Christmas season so much less stressful, and a whole lot more enjoyable! So thank you NetCredit! Because you have saved me not only money, with your fair rates, but you have saved me from a bunch of worry too!
I did at 11:30 at night. They said I would have it on the next day. By 4:00 p.m. it was in the bank. I was surprised. Even the bank said they didn't see the transfer that morning. I do think the interest rates should be lower for those who have already paid back a loan but when you need money you make crazy choices like paying 64% interest. I do appreciate the early payback option.
I am leaving a highly positive review. The application process was very easy and there were no hoops to jump through. It was very straightforward and quick. I got funded in 3 days after getting approved immediately. I can't thank you enough for how much it helped me get ahead on my finances. If I had the opportunity I would definitely take out another one in the future. I shared your company on with my friends as well. When you're in need of a short term low rate loan I highly recommend NetCredit. Thank you again. Have a great day.
My funding experience was great. I was approved for the loan, and the money was in my account the next day. I did get conflicting information at first. When I submitted my banking info, the website said it wasn't successful. I couldn't submit the info again. Then, I clicked my account button, and the website said I was approved and had a funding date. Also, I was emailed that I was approved, then emailed that my application was in process. I went back to the website, and it still said I was approved. The conflicting information left me unsure, but the money came to account the next day.
I called NetCredit in 5/20/2023 around 10:30am, I made a payment of 1,951.5. The representative I spoke with said she was able reduced my payment because my account was more than 90 days old, and that the negotiated payment would satisfy the full amount I owed, which was around 4,800. After I made the payment, I received an email saying that the amount I paid was only applied "to my original balance" and I also checked my online account with them; the payment was applied, but I still owe around 2,800. I also did not get it in writing or emailed to me, as I had in the past with other agencies. I have been paying off other debt and I always receive that, in order to make it official. I'm not sure why this person needed to be deceitful and dishonest, I understand I owe money but it was no need to lie. Account number **
Please contact our customer service team for help with your questions: https://www.netcredit.com/contact-us
Thanks for your very efficient and professional service. I needed some funds and saw NetCredit online. The process was simple and fast. The money was in my account quickly. I was able to take care of business quickly. NetCredit all the time!!
The application process was easy. On top of that, you were clear about what my payments would be and made it flexible to my pay schedule! I went from filling out the application to fully funded in less than 48 hours, with a payment I’m comfortable making!
Very easy application and the response time was super fast! I will definitely recommend Net Credit to family and friends. The money was deposited on time and I was able to make the withdrawal as needed. Net Credit is a faster way of providing financial assistance when needed. Approval was granted within a matter of minutes.
My experience with NetCredit was very smooth and very transparent. The customer service was excellent and the terms are something I can work with. I would recommend them for your time of need. I felt the time to wait for a decision was fair and they gave you step by step transparent actions on their end.
NetCredit Company Information
- Social media:
- Company Name:
- Year Founded:
- 175 W. Jackson Blvd., Suite 1000
- Postal Code:
- United States