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NetCredit
NetCredit
Overall Satisfaction Rating
4.67/5
  • 5 stars
    327
  • 4 stars
    50
  • 3 stars
    8
  • 2 stars
    0
  • 1 stars
    13
Based on 398 ratings submitted in the last yearSHOW RATING DISTRIBUTION

NetCredit

ConsumerAffairs Accredited Brand

NetCredit provides personal loans up to $10,000 to customers throughout the United States. We believe that your credit eligibility should be determined by looking at your broad financial picture — not just your credit score. Our online application is straightforward and simple, and funding can occur as soon as the next business day.

Our personal installment loans come with no application, origination or prepayment fees, and can be repaid in fixed installment payments over time — with timely repayments helping to build your credit score. If you need a more personal personal loan from a company that views you as more than just a credit score, apply with NetCredit today.

A+BBB Rating
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400 NetCredit Consumer Reviews and Complaints

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Verified Reviewer
Original review: June 8, 2018

I am not sure how they got my number and when I email the address listed on the website it comes back undeliverable. How are they rated AAA with better business rating and they can't be reached for spamming. :(

4 people found this review helpful
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Verified Reviewer
Original review: May 24, 2018

I have had a great experience with NetCredit. Yes, the interest is high. It can be 35% to 155%. Mine is on the lower end. The problem with most people is they get these loans and get pissed about the interest but if you pay the loan off early and make extra payments, you eliminate a ton of that interest. That is how I do it when I get loans, buy a car, etc. If you just pay the minimum, then yes you will pay a huge amount of interest. So, if you plan to only make the minimum and take the entire time they give you to pay this off, then you will pay a crap ton back.

Common sense - pay it off early, make extra payments. It helps build your credit and then you can get a better loan later on with better rates. Read the paperwork, use common sense. Pay more than the minimum on credit cards (pay balances off by end of billing cycle), loans, car payments etc. and don't take the entire time given to pay a loan back. Half the bad reviews are silly and people mad they got denied in the first place. Lol. If you aren't smart enough to know paying the loan off early and paying more than the minimum will cut out most of that interest they charge, then you don't need a loan. Smdh.

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8 people found this review helpful
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Verified Reviewer
Original review: May 20, 2018

I woke up to an email from NetCredit saying they can't approve me because of insufficient income! On top of that they had a 4 year old address, that I haven't lived at, and basically said I was garbage. They also have an account number set up for me. When I wrote the first note back asking what the hell, they said they got me from an affiliate company, and still kept saying I don't qualify. I never wanted or applied for their piece of crap high interest loan! Can companies do this to people? Disgusted and angry, don't do business with these people who reject a loan you never asked for or wanted!

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Verified Reviewer
Original review: May 16, 2018

I submitted the additional information @ 11:01 AM; This is their email sent at 11:30 AM: "Thank you for choosing NetCredit. Your signed loan agreement with NetCredit has been received and your application has been forwarded to our Loan Processing Team for review. We will contact you shortly by phone or email to let you know if you're approved or if we need additional information to process your loan application. If you have any questions or concerns, our Customer Support Team is available Monday - Friday, 8am - 8pm CT and Saturday - Sunday, 9am - 5:30pm CT at (877) 392-2014. You can also sign in to view your account details online at any time."

AT 11:32 AM I RECEIVED THIS EMAIL: "Description of Account, Transaction, or Requested Credit: Application for a personal installment loan. Description of Action Taken: We have declined your application. Part I? Principal Reason (s) for Credit Denial, Termination, or Other Action Taken Concerning Credit Unable to verify income. Part II? Disclosure of Use of Information Obtained From an Outside Source. Our credit decision was based in whole or in part on information obtained from an affiliate or from an outside source other than a consumer reporting agency. Under the Fair Credit Reporting Act, you have the right to make a written request, no later than 60 days after you receive this notice, for disclosure of the nature of this information.

Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580. WHAT HAPPENED TO FULL DISCLOSURE RULE WHEN A CONSUMER CONSENTS TO ELECTRONIC COMMUNICATION? I complied with all requests for additional documents. What is the real reason for denial???

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4 people found this review helpful
Verified Reviewer
Original review: April 25, 2018

Getting the loan was painless, but I recently changed my bank account and NetCredit would not accept the fact that 1. It was a new account and I don't have a bank statement yet, and 2. I pay online and don't order checks, so I didn't have a voided check to send them. Worst customer service ever. It took me four calls and three emails, emailing them the same information multiple times. Then, I have to verify what I had sent them by responding twice to their form email. Worst customer service ever@!

8 people found this review helpful
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Verified Reviewer
Original review: April 12, 2018

I pulled a loan of 2700 dollars in January to catch up on my rent knowing come February I would have my bonus in full, well the day I called in to make payment for the loan, the rep Larry told me everything was fine and my payment was posted and said we were good to go. I went on with my life and didn't think anything of it. It's now April, my secondary account has been hit with 3 payments which have resulted in $500.00 and overdraft fees, now my secondary account normally has small amounts deposited, and we do not use the account only for business purchases, this is why I wasn't aware the weekly payments were being withdrew. I contested the amounts under the impression NetCredit was paid with my bank, and then spoke to my NetCredit to hear them tell me they showed the payment posted, but never funded due to my bank rejecting the transaction.

I then contacted my bank and they show no record of NetCredit posting any form of withdrawal or rejection on their end. Now I am stuck trying to get the money to pay off NetCredit and am being charged interest daily. NetCredit states they followed up 2 days after to let me know that the bank rejected payment, I have no message or call from them on my phone log. They also never followed up with an email, or a letter via mail to notify me. This to me is a scam to get you to make payments and pay the interest for their loans to make more money. Advice, stay away from this company.

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9 people found this review helpful
Verified Reviewer
Original review: March 16, 2018

My modest loan app was denied in mere seconds, and the worthless website stated as the reason: “could not be verified.” What the heck does THAT mean? Something must be terribly wrong with their automation software that checks for verification. If nothing else, provide a mechanism to verify verbally whatever info they think didn’t validate. How incredibly stupid to quickly deny a loan application for this reason. Are they not on the business to make loans, and generate revenue off the finance charges?

14 people found this review helpful
Verified Reviewer
Original review: March 9, 2018

This company preys on the desperate and will trap you in a never-ending cycle of debt. It's fast and easy, and they'll give money to almost anyone. That's the trap. This company is predatory, plain and simple. They charge exorbitant interest rates in order to keep you in their debt for as long as possible. A $2800 loan is going to cost me over $8600 when all is said and done. I understand wanting to make a profit, but this is sickening and should be illegal. I was told by a slightly less more reputable lender that those companies are often on Indian reservations because they don't have to abide by our laws governing or outlawing such tactics. If you're thinking of borrowing money from this company, DON'T. Don't make the same mistake I did.

27 people found this review helpful
Verified Reviewer
Original review: March 1, 2018

Great service, professional, easy application. No added wait. The process was easy, simple and not complicated. I would recommend this to anyone who needs a fast and efficient way to get money. Highly recommend. Great customer service, follow up with a call.

3 people found this review helpful
Verified Reviewer
Original review: Feb. 23, 2018

I was very pleased. I plan to repay as quickly as possible to save some interest. I was skeptical at first but my fears were put to rest. The experience has enabled me to bring my finances current which is a big relief.

8 people found this review helpful
Verified Reviewer
Original review: Feb. 21, 2018

The loan process was quick and easy. I have made my first couple of payments and everything is going smoothly. I would definitely recommend them to a friend. The interest is a little high but this expected because I am reestablishing my credit.

6 people found this review helpful
Verified Reviewer Verified Buyer
Original review: Feb. 19, 2018

First of all, don't do it no matter what!!! When applying for the loan my credit score wasn't necessarily that bad. It was maybe between a 630-650. I didn't really need the $5,000 at that time, I needed it but it wasn't an emergency. And, if I had known what I was actually signing up for, I would of found any way possible to find my way around this. Over the phone I was told I was getting a 5% interest rate repeatedly & being rushed into locking in this rate. First, I would like to state my husband at the time was supposed to be getting his Workers' Comp Settlement finalized & we had every intentions of paying this back within a month. So 5% seemed great, & it's clearly my fault for not reading the full disclosure. Of course My husband's Workers' Comp Settlement ended up being $10,000 less than expected. And, of course the loan took a back seat at the time.

Now, while trying to pay down debt, raise my credit score, & figure out where to start almost a year later? I've realized paying $139.55 bi-weekly. 21 on time payments & that it basically breaks down to $280 a month that I've paid $2,940 on a $5,210 loan and I've only paid off around $225.45??? So, I still owe $4,988.44 after 21 payments of $139.55. Looking up the actual Contract term of my loan, taken out on April 3rd, 2017 & being paid off July 23, 2021. It's at 64.75% APR making this loan if not paid off anytime before the actual terms. A grand total of $15,627.07. WTF??? If I had even heard a 20-35% APR I Would of hung up on them immediately. They, can charge up to 100% APR so am I lucky, it's only 64.75%???

Trying to figure out a way to come up with $5,000 to pay this off ASAP while it continues to drain every paycheck I get! Predatory Lending at its best & How in the World is this even legal? Someone, needs to put a stop to this... Trying to contact my State Representative, like it would do any good? Lol. I'm absolutely floored by my stupidity, & pray that someone reads this before they get themselves into the mess I've gotten myself into!

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31 people found this review helpful
Verified Reviewer
Original review: Feb. 16, 2018

GREAT Customer Service! I would recommend to friends and family. NetCredit deposit the funds into my account very shortly after I was approved. It was a good feeling to pay all my outstanding debt in full, no more harassing phone call from debt collector. This was one of the best decision I have ever made.

4 people found this review helpful
Verified Reviewer
Original review: Feb. 16, 2018

As a single mother it's not always to find help when you need it. I had multiple medical bills piling up from an emergency surgery. Net Credit helped me to consolidate into one payment which made it easier on my budget. The process was fast & simple.

5 people found this review helpful
Verified Reviewer
Original review: Feb. 16, 2018

Every time I have correspondence with Net Credit everyone is very pleasant and very helpful. Would refer anyone to net credit. Interest rate is high but in times of need it's worth it. It’s a pleasure to deal with Net Credit.

6 people found this review helpful
Verified Reviewer Verified Buyer
Original review: Feb. 16, 2018

Once I applied, my loan was approved very quickly and my money was direct deposited immediately. Payments are easy because they are auto debited - so you never miss a payment date. They were there when my family needed the help. Thanks!!!

2 people found this review helpful
Verified Reviewer
Original review: Feb. 16, 2018

Great resource when you need money. Nothing to have any worries over. Quick response time with direct deposit and very friendly staff. If I need money again I will use them without hesitation. Great experience! A truly professional experience from beginning to end.

2 people found this review helpful
Verified Reviewer Verified Buyer
Original review: Feb. 15, 2018

You guys are great. Very easy to talk with and getting information to me about things going on. Im going to tell all my friends that need cash. Thank you once again for the fast and amazing customer service, fast email response and even when a problem came up you let me know asap.

3 people found this review helpful
Verified Reviewer
Original review: Feb. 15, 2018

Fast and easy very helpful. Anyone can use the easy online application they deposits in your 48 hours. Love it would definitely recommend to anyone in emergency. They are way better than all the other loan companies out there. Thank you NetCredit for being there when I needed you.

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Verified Reviewer Verified Buyer
Original review: Feb. 15, 2018

Very timely and professional. Answered all my questions in a simple manner. Hope to do a consolidation loan in the future. Very good web site easy to follow. Also I received my answer in a timely manner. My funds were in my bank account the next day.

3 people found this review helpful
Verified Reviewer Verified Buyer
Original review: Feb. 15, 2018

When all others failed to approve me for a loan due to bad credit, NetCredit was able to come to the rescue. They were swift, able to help fast and no questions asked besides the standard paperwork. I understand the rates that accompany the loan is rather high, but I would take the high interest rates over no money available. I appreciate the service very much and hope to finish repaying my loan sooner, rather than later.

3 people found this review helpful
Verified Reviewer Verified Buyer
Original review: Feb. 15, 2018

My request was approved quickly after a brief confirmation from one of your customer service rep per phone call. This was on a Thursday, received my request via direct deposit on Monday. I was so surprised... will do business with this company in the future if the need occurs again. GREAT SERVICE and much appreciated.

2 people found this review helpful
Verified Reviewer
Original review: Feb. 15, 2018

Good first experience. The process was amazingly brief and simple. All questions were direct and easily understood, I didn't feel like I was being treated unfairly or being demeaned. Can I refinance now? I would like to have additional funds available.

3 people found this review helpful
Verified Reviewer
Original review: Feb. 15, 2018

Quick and easy, customer help was great, would recommend to friends. It was easy to go online and check the status and follow the progress of the loan. The money was in my account in no time at all once the paperwork was complete.

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Verified Reviewer
Original review: Feb. 15, 2018

Easy to apply. Super fast funding. Love it! Recommend to my family and friends. Applied for loan and funded the next day. Easy to refinance when I needed to borrow more money. All done online in the comfort of my home.

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Verified Reviewer
Original review: Feb. 15, 2018

Very helpful and friendly, although I was approved for a higher loan amount I was not pressured to take the additional funds. I was also having issues with the computer application and they stayed on the phone with me to assist in completing my application.

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Verified Reviewer
Original review: Feb. 14, 2018

I could not have been more pleased with the way I was treated during this whole process. I was kept up-to-date on everything that was going on in a timely manner. It all went very quickly. Thank you all so very much.

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Verified Reviewer
Original review: Feb. 14, 2018

The customer service was excellent. All of my questions were answered. This is my first time using NetCredit and I had some difficulty working my bank information and the young lady was very patient because I was getting frustrated when I had to put in my banking information. I had set up my banking account and forgot a lot of the required questions the had asked.

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Verified Reviewer
Original review: Feb. 14, 2018

Quick and easy to apply. The reason for the 3 star only is because the interest rate is outrageous. It helps those who are in desperate need at the moment but is not a help for the person overall. I think you’re taking advantage of the situation.

6 people found this review helpful
Verified Reviewer Verified Buyer
Original review: Feb. 14, 2018

Customer service was really nice, emails and online was excellent service. I got updated every day and even twice a day about my loan. Net Credit got me out of a big financial I had! Thank you Net Credit! For sure I would recommend this company!

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NetCredit expert review by Barbara Friedberg

NetCredit is a personal loan company offering loans up to $10,000. The company is a subsidiary of Enova International, Inc. Net Credit has a creative My RightFit ToolTM to help consumers customize their loan amount and repayment terms.

  • Easy application: The online NetCredit loan application process promises a quick response. If eligible for a loan, the borrower receives an offer which she can accept immediately, or she can request a modified loan.

  • Payment options: Borrowers select their own personalized repayment schedule. Additionally, NetCredit offers the customer an automatic payment option, so the borrower won’t forget to pay their loan payment.

  • No prepayment penalties and flexible repayment options: NetCredit helps build credit through regular reporting to 2 credit bureaus. The borrower can modify their payment amounts and won’t incur penalties for paying the loan off early.

  • No hidden fees: Borrowers of NetCredit promise no fees; borrowers only pay the company the interest and principal payment amounts for their loan. Their CLearCost for MeTM assures no additional or hidden fees.

  • Customer service options: NetCredit offers borrowers great customer service options, both by phone and by e-mail.

  • Best for: People looking to refinance debt, facing financial hardship and those experiencing a major life event.

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Barbara Friedberg

Personal Finance Contributing Editor

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Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

NetCredit Company Information

Social media:
Company Name:
NetCredit
Year Founded:
2012
Address:
175 W. Jackson Blvd., Suite 1000
City:
Chicago
State/Province:
IL
Postal Code:
60604
Country:
United States
Phone:
(877) 392-2014
Website:
www.netcredit.com

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