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NetCredit Lender Review
26 May 2018

NetCredit Lender Review

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Searching for a loan when you have bad credit can be an overwhelming and stressful experience. Many traditional lenders won’t provide bad credit loans to those with a fair to poor credit score because they consider the borrower to be a high-risk candidate. But, the good news is, there are lenders, like NetCredit that will provide you with the loan you need to get ahead with your finances.

If you’re trying to improve your credit, taking out a personal installment loan can have advantages. You can use the money to pay off other debts that are causing your credit score to stay in the red. But, it’s important to be responsible, making sure that you can afford the loan before you even consider putting in an application.

So, what’s the difference between NetCredit and other lenders? Here’s our review so you can make an informed decision before you apply.

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What is NetCredit?

NetCredit is an online lender and subsidiary of the global lending company Enova International, Inc. They are affiliated with America’s largest pawnshop chain, Cash America who also provides quick and easy payday loans.

This lender offers loans from $1,000 to $10,000 with an annual percentage rate that ranges from 34% to 155%. These installment loans are designed for people with less than perfect credit looking to improve their credit score. They are not intended for people with good credit as good credit may qualify you for a more traditional loan with lower interest rates and better payment terms.

Benefits of a NetCredit Loan

Besides building your credit history with on-time payments, NetCredit allows you to manage your loan online. You can update personal and employment information and contact details, as well as review your loan payments through your online account.

This lender offers a fast turnaround time on applications so you won’t be waiting for weeks to find out if you’re approved. In fact, in many cases, you’ll receive your funds within 1-3 business days after the loan has been approved. You’ll also have a choice with your repayment options that offer you flexibility so you won’t ever miss a payment.

There is no early payoff penalty for this loan type.

What to Watch Out For

Of course, the high-interest rates are something to be cautious of. This type of loan will cost you thousands more than a traditional loan and in some cases can take longer to pay off. While the interest rates aren’t as high as a payday loan online, they are significantly higher than other lenders you might be able to find online.

There are mixed online reviews for this lender relating payment terms and poor customer service. Although, representatives are said to be friendly once you get a hold of them.

NetCredit doesn’t lend in all fifty states so it’s important to ask up front if you’re eligible depending on where you live.

How Much Does a Loan From NetCredit Cost?

The cost of your personal loan will not only depend on your state of residence but also your financial situation, including your credit score and how much you intend to borrow. It’s important to consider the interest rate and repayment terms depending on your loan amount. Remember that 155% interest rate, especially if you have really bad credit.

How to Qualify

You qualify for a loan with this lender so long as you’re at least 18 years old and a legal resident of the United States. You’ll also need a legal form of identification such as your social security number and/or driver license information. And, of course, you must provide your address, a bank account with online banking access for easy repayment, and proof of income.

You must also live in one of the following 29 states:

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Delaware
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Michigan
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • New Mexico
  • North Dakota
  • Ohio
  • Oregon
  • South Carolina
  • South Dakota
  • Texas
  • Utah
  • Virginia
  • Washington
  • Wisconsin

Application Process

You can easily fill out your application online or call directly to speak with a representative. You’ll be asked questions about your identity, income, contact information, and social security number. The lender will review your application and check your credit before offering a loan amount.

If for any reason you are dissatisfied with the loan amount offer, you can use the My RightFit Tool which will allow you to adjust your loan offer and terms to something more satisfactory. Once approved, you can receive your funds in as little as one business day.

Customer Support

Business hours are from 8 am to 8 pm central time Monday through Friday, and 9 am to 5:30 pm on Saturday and Sunday. You can contact customer support via email or phone. If you send an email, you can generally expect a response within one business day.

Customer support is friendly and responsive to customer concerns and requests.

Repayment Options

You’ll be allowed a maximum of 60 months to pay your loan back, depending on your loan amount and interest terms. California residents must pay back loans within six to 48 months.

Payments can be made directly from your bank account and will be based on your paydays throughout the month. For example, if you’re paid bi-weekly, your payments will be drawn from your bank account bi-weekly as well.


This lender does not currently hold any rating with the BBB, or Better Business Bureau. However, the parent company, Cash America International, Inc., holds a C rating relative to government action against the business.

There are few complaints against NetCredit in its four-year existence.

Final Thoughts

Securing a loan through NetCredit is a good idea for borrowers with less than perfect credit. Although the interest rates are higher than those with traditional lenders, you’ll have an opportunity to rebuild your credit if you are approved for one of their bad credit loans guaranteed approval. They report to Transunion and Experian so it’s important to budget for and make your payments on time.

It’s important to be cautious with any loan that charges such high-interest rates. Not only will you pay far more than what you borrowed, but the more you borrow, the longer it will take you to pay back.

If you’re searching for a fair loan to help you with your finances and you have bad credit, then you may also consider one of our personal bad credit loans. We’re here to help you learn and borrow when necessary.