NetCredit
AUTHORIZED PARTNER

NetCredit

 4.9/5 (128 ratings)
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NetCredit

About 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 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.

Overall Satisfaction Rating

  • 5 stars
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Pros

  • No prepayment penalties
  • Lower credit scores may be accepted
  • Lines of credit up to $4,500
  • Loans from $1,000 to $10,000

Cons

  • Not available in every state
  • High interest rates

Bottom Line

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.

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Rated with 5 stars
Verified

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...

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Rated with 5 stars
Verified

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...

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What is NetCredit?

NetCredit is an online lender specializing in fast funding for borrowers with less-than-perfect credit. Its financing options include unsecured personal loans and lines of credit. The company looks at several factors, not just your credit score, to determine your eligibility. Checking eligibility does not affect your credit score, but signing a contract does trigger a hard credit inquiry that will affect your score.

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 and receive loans (18 years old in most states; 19 years old in Alabama and Delaware; 21+ in Mississippi). Other requirements to get funding include 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.

NetCredit FAQ

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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How do I know I can trust these reviews about NetCredit?
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  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: March 17, 2022

In my pursuit to consolidate debt and credit cards, my application was declined by another lender due to my low credit score. NetCredit was listed as a potential lender. At risk of having another hard inquiry on my credit record, I applied. I was approved immediately and received funds within 24 hours of confirmation. I contacted their helpful and efficient - customer support service number when I had a question about funding. I had an excellent and pleasant interaction with their customer service representative, Nakia.

The interest rate was a little higher than I wanted, but that is why I got this loan. To fix this for my future and improve my credit - overall. I also don't like the twice-a-month payments. Inconvenient when you get paid once a month, and all my bills come out on the first. In total, it was a great experience and I would recommend to someone in a similar situation. Over-extended, too many credit cards, doctor bills, interest, etc.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 9, 2022

    I normally do not offer reviews, because everyone has a different opinion. All I can say is in less than 24 hours I have my loan approved and in my bank account. It was not a large loan, however it helped me out tremendously. I recommend this type of loan for people that have nowhere to turn. Net Credit really came through. Just be aware of the interest rate going in. I was willing to pay the interest because of my situation. Bottom line is I would recommend net credit.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 11, 2021

    This was the easiest process, I enjoyed the experience. I would recommend this to friends and family. The only thing I would change is more communication on the phone. It took me days to get to talk to a live person. After talking thing went smoothly. I also like the email communication. It made it easy to what was needed. The only change would be more detail into what you where looking for. And when I did send email never got a response back.

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 5, 2021

    Overall it was a good experience. There were some "hiccups" with getting some documents to them, and multiple emails indicating that the requested documents had not been received. This was not correct, and I made three calls to get the problem fixed. I found all CSRs I spoke with to be professional, helpful and personable, and they did help resolve the issues. I was informed that I had made a new application, and was quite surprised to find an email later that afternoon telling that my initial application was accepted and that the funds were to be deposited the next day, which they were. So in spite of the "hiccups" mentioned above, the overall experience was good.

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: July 14, 2021

    For the most part your service is very good. I just wish my percentage rate wasn't 35%. Since this is my second loan with you I was hoping it would be lower. I didn't receive my confirmation email though because it went to my spam folder. I just try to use your call back service and it called me back but I was still on hold for 20 minutes and no one ever answered so that was the only negative I guess. Thank you!

    2 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 17, 2022

    24/7 quick loan. 2nd loan, great experience. Will always consider NetCredit when looking to get a small/medium loan. Applied and received money next day via bank account. Very convenient and quick turnaround. Flexible terms with good loan options. Can pay back via automatic withdrawal from checking account or manual pay via bank account or credit card.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 16, 2022

    Wonderful experience and very nice staff! Very fast funding process! I applied and on a Monday and everything was verified and approved by Wednesday! I got my money the very next day! The staff kept reaching out to me and asking me if I needed any additional help or any additional information. Very easy process. Anyone can do it!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 16, 2022

    I needed funding for taxes and medical bills. I was recommended to here and was given financial assistance in record time and for the amount needed. I wasn't made to feel like scum when asking for assistance and was treated with respect while not feeling pressured into something I did not wish to do.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 16, 2022

    Easy to work with and fast response. Thanks for taking care of the funding and getting back to me quickly and putting the funds in the bank asap. It was great working with you. Would consider doing business again in the future. So easy to work with. Thanks again.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 13, 2022

    The process was quick and prot. The payment options are very reasonable. I am satisfied with everything so far. The application and process was very understanding and I had no problems understanding anything. The payment process was very quick and reached the account early.

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    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
    Website:
    www.netcredit.com