NetCredit Reviews

netcredit reviews

NetCredit Features

NetCredit, an online state-licensed lender, offers unsecured personal loans to borrowers with poor or fair credit. It is based in Chicago and is a subsidiary of Cash America International, set up in 1983; NetCredit operates within the Enova division. It is also a partner of Republic Bank and Trust, Member FDIC.


Although NetCredit is a novice on the installment lending market, it has already gained some experience; they provide an alternative to payday loans for clients who cannot boast of good credit score and don’t want to use assets as collateral to secure a loan. Usually these are borrowers whose FICO scores between 550 – 680.

One of the main advantages of a NetCredit loan is the fact that it reports to TransUnion and Experian credit bureaus. How can borrowers benefit from it? – Just by paying loans on time, thereby improving their credit score.

Unlike payday lenders and many other installment lenders who do not report to credit bureaus, NetCredit clients may be sure that their payment history is reported to Equifax, one of the three major credit bureaus. No doubt, it’s a great way to build and improve your credit history, as banks, insurance companies, different phone companies request reports from all these credit bureaus.

Moreover, NetCredit provides you with a feature that helps clients check if they are eligible for obtaining a loan without any consequences for their credit score. Therefore, you can get to know all the terms and conditions before you sign your loan agreement, but the plus is that it does not affect your credit score.

What happens when you request a loan? A lender makes an inquiry to a credit bureau, which negatively affects your credit score. NetCredit, unlike other lending institutions, does not show your loan inquiry on your credit report. So, you feel free whether to accept a loan or not without any negative consequences for your credit score.

NetCredit is known for its transparent pricing policy, i.e. the company does not practise the so-called application fees, as well as prepayment or late fees. The only thing that a client has to pay is interest on the loan. The amount of rates is defined by such factors as your income, the amount of your loan and your credit history.You are allowed to borrow from $1,000 up to $10,000. Other factors that can influence your loan are your employment status, the size of your income, your credit history, and certainly, the amount you can borrow depends on the regulations of your state. Moreover, when applying online, you are automatically informed on the amount you can qualify for and the amount of rate.

What are the pluses of being a client of NetCredit? – First and foremost, they work for people with poor credit history. Secondly, their pricing policy is transparent. And, most importantly, they report to major credit bureaus, which makes them really stand out from their competitors.

NetCredit Application Process

And now a few practical moments. The whole process of application is carried out online, and you will know your rate as soon as your application has been processed. The factors that affect your loan depend on your employment status, your credit history and your repayment history.

The process of application is carried out online, it is quite simple, fast and transparent. Once your application is approved, it takes about 1-2 days for the money to be deposited in your account.

There are certain requirements a potential borrower has to meet: an annual income of at least $20,000 and a credit score of at least 500. This, however, cannot guarantee loan approval, but if you are approved, the only thing you will have to do is late payment and rate of interest. There are no fees, if you pay back the loan before the due date.

Fees and Rates

Rates are determined by the lending laws of the state of residence and may vary from 34% APR to 150% APR.

The Amount You Can Borrow

Factor that determine the amount you can borrow are as follows: the state you live in, the amount of your income, your credit history. All this considered, a client can qualify for the amount ranging from $1,000 to $10,000 for the period from 6 months to 5 years.

In Which States Can I Apply?

The states where you can apply for NetCredit loans or their partner lender Republic Bank and Trust, Member FDIC, are Alabama, Arizona, Arkansas, California, Delaware, Florida, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Missouri, Mississippi, Montana, North Dakota, Nebraska, New Mexico, Ohio, Oregon, South Carolina, South Dakota, Texas, Utah, Virginia, Washington, Washington D.C., and Wisconsin.

  • Application Process
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  • Client-Friendly
  • Security Level
  • Satisfaction Rating

Why Should I Choose NetCredit?

As we can see, NetCredit offers a great-value alternative for applicants with poor credit history. There are some more advantages such as longer repayment terms and bigger amounts of loans.

User Review
5 (1 vote)


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