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Accredited Partner

NetCredit

NetCredit
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Overall Satisfaction Rating 4.16/5
  • 5 stars
    56
  • 4 stars
    7
  • 3 stars
    7
  • 2 stars
    3
  • 1 stars
    9
Based on 82 ratings submitted in the last year

Personal loans up to $10,000 are provided through NetCredit throughout the United States. Credit eligibility should be determined by looking at your broad financial picture - not just your credit score. NetCredit's online application is straightforward and simple, and funding can occur next business or sooner, if approved. In some states, NetCredit has partnered with Republic Bank & Trust Company, Member FDIC to offer personal loans. Please see NetCredit’s Rates & Terms for more information.

Our personal installment loans come with no application or prepayment fees and can be repaid in fixed installments 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 through NetCredit today.

BOTTOM LINE

NetCredit is an online loan marketplace that provides unsecured personal loans with no restrictions on how the funds can be used. Find out if you’re eligible for a loan or line of credit on their website.

PROS

  • No prepayment penalties
  • Lower credit scores accepted
  • Get funds quickly
  • Loans from $1,000 to $10,000

CONS

  • Not available in every state
  • High interest rates
NetCredit Learn More 

How does NetCredit work?

Use the My RightFit Tool 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:

  • Your credit score
  • Income amount
  • Rent or mortgage payment amount
  • Length of employment

Unlike some other loan providers, NetCredit reports to all three major credit bureaus. The comprehensive reporting helps you build positive credit history through on-time payments and boost your credit score while paying off your loan. Late payments have the reverse effect and can harm your credit score.

NetCredit loan requirements

Instead of basing your eligibility solely on your credit score, NetCredit weighs all the provided information to determine your creditworthiness. The company also checks your overall debt-to-income ratio and asks for information about any outstanding debt. NetCredit also requires customers to be of legal age to apply and receive loans (18 years old in most states; 19 years old in AL and DE).

While credit score requirements aren’t explicitly outlined, NetCredit typically works with people with scores from 500 to 680. During the My RightFit Tool questionnaire, NetCredit performs a soft check on your credit to ensure all your information is correct. The soft check won’t affect your credit score, but NetCredit performs a hard check that could change your score slightly once you agree to the loan or line of credit terms and conditions.

NetCredit lines of credit and loan refinancing

If you don’t qualify for a personal loan, you still may be eligible for a line of credit with NetCredit, depending on the state you live in. Line of credit amounts range from $500 to $3,500 and give customers ongoing flexibility to take cash advances up to their available limit.

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 online account.

How much does NetCredit cost?

NetCredit loans have interest rates that range from 34% to 155% APR, depending on the state where you live and your overall creditworthiness. 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.

Instead of charging compound interest, NetCredit charges simple interest, which is calculated off the remaining balance of the loan and is usually less expensive than compound interest.

NetCredit loan terms range from six to 60 months. The company doesn't charge prepayment penalties, so you can pay back the full amount of your loan at anytime without incurring additional charges. The company charges penalties of $15 or 5% of the amount due that period if you’re 10 or more days late with your payment.

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.
  • Outstanding 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.

Is NetCredit worth it?

If you need funds fast, NetCredit works to get you the funds you need in as little as four days. With customizable loans and lines of credit, NetCredit is an option for anyone searching for a lender with a fast turnaround time.

NetCredit Reviews

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2 featured reviews
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Page 1 Reviews 0 - 10
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Feb. 1, 2020

Was email that I was pre-approved for $5600. I looked over the loan letter and applied to see the cost. All but really needed was $4000. So after I see what it was for the pre-approve amount I applied for the $4000. It came back approved in just a minute or two so I read over everything and signed away. Interest is high but it's a personal loan. They said that is was going through the final review and notify me email if approved.

Hour went by and seen the email saying, "Congrats your bank has been notified about the funds and should be in bank account today." They were right. Just after 1 pm my bank text me about the deposit. Net Credit has been the fastest in getting approval and deposited into the bank same day. I've had a couple of loans like this and they are not near as fast as Net Credit. One more thing is I never had to talk with them about issues with my app. So fill everything out on the app and give them authorization to your checking account so they get proof of income and you will have no problems. I will use Net Credit from now on when need money. #1 in my book.

7 people found this review helpful

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 23, 2020

    Well it was a chilling experience. I would check online as I was told. First I got a letter saying I was denied then about 5 hrs later I was told I was approved then I checked the online info. I was told yes I could get the loan but on the bottom of the page it said I wasn't able to get the loan so whenever I would call they were so very helpful and said yes I was getting the loan. I told them this was so very confusing but yes I got the loan and am very thankful.

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 14, 2019

    Twice during the experience it seemed like your right hand didn`t know what the left hand was doing. 1st man told me to get benefits info and bank info, then lady called 15 minutes later said bank info already received. Went to Staples to fax benefits info. Later I was told they needed bank info, so I had to return another day to Staples to fax that info. Then I was told the form I sent concerning benefits was wrong which was the only one I received from the office of personnel management. But after all the confusion, my application was approved and I thank you for that.

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 3, 2019

    Getting this loan was a bit of hassle but I’m happy I got it! The only bad part is their customer service. Out of all the times I spoke to someone I only spoke to maybe 3 people who were friendly and super helpful, the other times they all had attitude and wasn’t really listening to what I was saying and I had to keep repeating myself. But with all that said the loan payments and principal is all broken down for me which I love. I know exactly what I’ll be paying each time and what my remaining balance will be! Super easy!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 24, 2020

    Great experience and excellent response time, very good to work with and helpful when contacted and explains thing very thorough. Would definitely recommend to a friend, I hope to keep doing future business with NetCredit. On the spot service as well. They help people with fair credit get a loan at a good rate.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 23, 2020

    My experience with applying on line was fast and Easy on line forms, easy to understand, easy email communication back & forth, and perfect response time. Fast turn over time, fast deposit & good customer service. Highly recommending this company to friends and family for fast loans. No issues or glitches in process.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 21, 2020

    Quick and easy, easy process. You hear back fast, and you get the money when they say they will deposit it for you. I will definitely be always using in the future, paying back ahead of time is quick and easy too. Definitely will recommend to my friends.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 19, 2020

    My experience was really great. I never left my chair. The process was very easy. I submitted my request and they quickly came back with what they could give me and instructed me what docs were required and I submitted them. I need to get more money.... Is there anything I can do? I needed up to $50k. Please advise.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 18, 2020

    Fast, super-convenient, hassle-free loan. Simple, straightforward application process. If all info checks out, loan is processed and funded within two days without having to speak to anyone at all. Interest is not cheap, so I would recommend to anyone who needs cash right away, but plans to repay as quickly as possible.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 17, 2020

    I applied for a loan on Sunday. I filled out the online application easily. I sent all of the additional information requested in Sunday evening and by Tuesday morning the loan was in my bank. The whole process was painless.

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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
    Phone:
    (877) 392-2014
    Website:
    www.netcredit.com