Are you in need of a loan and looking for an online lender to provide you with one?
If so, you might be thinking about taking out CashNetUSA loans. CashNetUSA has helped more than 3 million people get access to personal loans over the course of the last decade. And they’re currently capable of providing loans to those living in 30 U.S. states.
Before you decide to apply for CashNetUSA loans, though, weigh out the pros and cons associated with doing it. It’ll give you a better idea of whether or not a loan from CashNetUSA is really the best thing for you.
Here are some of the pros and cons of CashNetUSA loans that you should consider.
Pro: CashNetUSA Loans Are Very Easy to Apply For
One of the first things you’ll notice when you start applying for CashNetUSA loans is that the application process is extremely easy. This is especially true if you are going to apply for a bad credit loan, and have had a bad experience with other lenders in the past.
CashNetUSA’s website is easy to navigate, and it’s simple to fill out the form that you have to complete to apply for a loan. In many cases, you won’t even have to provide proof of income or any documents along with your application.
It should only take you a few minutes to send your application to CashNetUSA. And when you do, you’ll hear back quickly about obtaining a loan through them.
If your application is ultimately accepted, you could receive your money from CashNetUSA in a matter of just a day or two.
Con: Their Interest Rates May Be High Compared to Other Lenders
While it’s relatively easy to apply for CashNetUSA loans and get access to money quickly, paying back your loans might be a different story.
The interest rate you receive will vary depending upon the type of loan you take out and the state in which you live. But some of the interest rates through CashNetUSA are high compared to other online lenders.
For instance, you could end up paying upwards of $5,000 in interest on a $2,500 installment loan taken out in California and paid back over the course of three years. That could be simply too much for you to pay to get the loan you need.
Pro: CashNetUSA Offers Several Different Types of Short-Term Loans
When you apply for CashNetUSA loans, you’ll have the opportunity to choose from a couple different short-term personal loan options.
If you want to take out a payday loan, CashNetUSA can offer them to you. These loans will need to be paid back in full within one month after you take one out.
If you want to take out an installment loan, CashNetUSA can set you up with one of those, too. Typically, they require you to pay installment loans back within 15 months, though the official terms can vary.
No matter which type of loan you choose, you can pay it back early if you would like. CashNetUSA will not charge you any fees for early repayment of a loan.
Con: Their Loans Come With Sometimes Confusing Terms Attached to Them
Anytime you take out a loan through an online lender, it’s important for you to understand the terms that come along with it.
Unfortunately, CashNetUSA isn’t going to do you any favors in this department. The terms that come attached to their loans are extremely difficult to read and understand. It means you could end up agreeing to a loan and a repayment period that doesn’t make sense for you.
CashNetUSA’s loan terms are so confusing, in part, because the terms change depending on where you live and what your credit history looks like. Do your best to comprehend your specific terms before taking out CashNetUSA loans.
Pro: CashNetUSA Provides Quality Customer Service for Those Looking for a Loan
Most of the people who have gone through the process of taking out loans through CashNetUSA have enjoyed their experience with the customer service representatives of the company.
The customer service reps from CashNetUSA have earned a reputation for being very helpful when it comes to assisting customers during the application process. They’re also always more than willing to answer any questions people might have about taking out loans.
If you’re thinking about obtaining a payday or installment loan through CashNetUSA, it would be a good idea to get a customer service rep on the phone to tell you more about your options. You’ll find reps to be friendly and professional when helping you.
Con: They Might Not Be Able to Help You If You Live in Certain States
CashNetUSA is a company that’s growing and expanding into new states all the time. They have more than half the U.S. map covered as of right now.
But one of the biggest problems people seem to have with them is that they don’t offer loans to those in about 20 states at the moment. That means you might not be able to apply for a loan, much less qualify for one, if you live in a certain state that falls outside CashNetUSA’s coverage area.
If a CashNetUSA loan isn’t an option for you, you’ll have to check back with them in the future to see if they’re able to offer you a loan. Otherwise, you’ll need to apply for personal loans online through other online lenders that offer loan opportunities in your state.
Consider Applying for CashNetUSA Loans Today
Do you live in a state that allows CashNetUSA loans, and do you think obtaining one might be beneficial for you?
Now that you know about the pros and cons associated with these loans, consider if they’re right for you and your current situation.
If you do go with a CashNetUSA payday loan or installment loan, you’ll get great customer service and an easy application process. You’ll just need to prepare yourself for the interest rates that could await you and the confusing terms that could potentially throw you off.
Check out our blog to read more about online personal loans and the advantages of applying for one today. These loans could get you the money you need in no time.