NetCredit Review 2022: Is It Worth It?

GOBanking Rates Score

Quick take: NetCredit offers personal loans and lines of credit to those who do not have a high enough credit rating to qualify for financing from other lenders. In fact, NetCredit does not have a credit score requirement listed on its site. Due to the risk involved in offering these products, NetCredit borrowers typically pay very high APRs, which may be unaffordable for some.

  • Availablity
  • Affordability
  • Customer service
  • Features

How did we calculate this?


  • Pre-qualification without impact on credit rating
  • No prepayment penalty
  • Potentially quick funding

The inconvenients

  • Not available in all states
  • High APRs
  • Origination fees for certain borrowers

NetCredit Overview

NetCredit offers unsecured and often high interest personal loans and lines of credit to those whose credit rating prevents them from qualifying for a loan from other lenders. Even if a borrower’s credit is poor, they may qualify for a loan through NetCredit without putting up their car, home, or other asset to secure the loan.

Borrowers may qualify for a NetCredit secured loan ranging from $1,000 to $10,000 or a line of credit from $500 to $4,500. Loan limits are determined by the borrower’s credit history and the state in which the borrower lives.

Since loan requirements and loan terms vary widely from state to state, interested borrowers can use the rate finder to determine if NetCredit serves their state and what APRs and rates might look like. repayment terms.

Main characteristics

GOBankingRates gave NetCredit an overall rating of 4.1 for the following features.


NetCredit does not provide loans to borrowers in all states. For the states in which it lends, qualified applicants generally must be at least 18 years old, have a valid email address and a verifiable bank account and source of income, although requirements may vary by state .

NetCredit does not list credit score or income requirements on its site, as these factors vary widely from state to state. Although NetCredit serves those with poor credit, applicants must meet additional requirements — determined by the state they live in — to be eligible.


A NetCredit loan is an expensive way to borrow and may be unaffordable for some. APRs for many states start around 34.99%, and some borrowers can have an APR as high as 155%. With such high APRs, some people could potentially pay as much interest as the amount borrowed, if not more. The only benefit of the cost of a NetCredit personal loan is that there are no prepayment penalties.

Some states may charge origination fees for personal loans, which are deducted from the loan amount before disbursement.

Borrowers who receive a NetCredit line of credit pay a 10% cash advance fee each time they draw on the account and a statement balance fee each billing cycle based on the cash advance balance. funds. The statement balance fee replaces an APR.

Customer service

Applicants and borrowers can benefit from customer service in the following ways:

Borrowers also have access to an online account on the NetCredit website, where they can update their account profile settings if needed. Those with a line of credit can also request a cash advance through their online account.

Borrowers who need help with other issues should contact support by email or phone.


NetCredit offers the following features to applicants:

  • Choice of personal loans or personal line of credit
  • No application fees on personal loan
  • Pre-approval that won’t affect credit score
  • Same day loan approval possible
  • Next Day Funding
  • No prepayment fees
  • Reduced statement balance fees for eligible line of credit borrowers

How NetCredit stands out

NetCredit is a unique lending platform that serves those with bad credit that other lenders typically refuse. It offers options for personal loans and lines of credit, a product not always available on similar lending platforms.

Comparable NetCredit options

Personal loans can be an expensive way to borrow for those with poor credit, and consumers should carefully compare options before applying. Here are two other lending platforms that can provide personal loans with better terms than NetCredit for low credit borrowers.


Upstart offers APRs of 5.40% to 35.99% for consumers with credit scores as low as 300 and those with insufficient credit. Borrowers may need to fulfill other qualifications for loan approval. Entry-level applicants may be eligible for up to $50,000.

OneMain Financial

Like NetCredit, OneMain Financial has no minimum credit score requirements. Those with a lower credit score usually have a higher interest rate. However, OneMain Financial APRs range from 18.00% to 35.99%, much better than NetCredit APRs in some states. Some borrowers can pay up to 10% origination fee with OneMain.

How to register

Applicants can apply for a personal loan or a NetCredit line of credit on the NetCredit site. The online application only takes a few minutes to complete and applicants usually receive an immediate decision on their eligibility.

Eligible applicants must choose a loan offer and sign their loan agreement to receive a final decision. This often happens within the same business day. If additional information or documentation is required to approve the loan, it may take up to three business days.

Approved applications can be funded as early as the next business day or even the same business day.

Who is NetCredit for?

NetCredit is best for those with poor credit who need emergency funds that they cannot get from any other source. A NetCredit line of credit could allow those in need of emergency cash to borrow when they need it and minimize the cost of borrowing.

Final grip

While those with poor credit may qualify for a NetCredit loan, the cost of the loan could make a bad financial situation worse. NetCredit should be a last resort for borrowers who have no other choice, and borrowers should repay their loans as quickly as possible.

Using lenders like OneMain Financial or Upstart can still be an expensive way to borrow, but can be more affordable than NetCredit. Those with fair credit and good debt-to-equity ratios should research other loan options that may offer better APRs.

NetCredit FAQ

Here are the answers to some of the most frequently asked questions about NetCredit.

  • Is NetCredit real?
    • With so many financial platforms popping up online, users should always consider a site’s legitimacy before applying. So is NetCredit legit? NetCredit is a legitimate lending platform and is licensed in some states. Many of its loans are underwritten by Republic Bank & Trust Company, Member FDIC, or Transportation Alliance Bank, Inc. Borrowers should be aware that NetCredit loans can come with high APRs, but this follows state lending guidelines in which the borrower lives.
  • Is NetCredit a payday loan?
    • NetCredit offers personal loans and personal lines of credit. It does not offer payday loans.
  • Does NetCredit verify income?
    • Although the income requirements for a NetCredit loan vary depending on the state where the applicant lives, NetCredit requires a verifiable source of income for loan approval.
  • Can you repay NetCredit sooner?
    • NetCredit does not charge prepayment penalties for prepaying or prepaying a loan.

Information is accurate as of July 5, 2022.

Editorial Note: This content is not provided by NetCredit. Any opinions, analyses, criticisms, evaluations or recommendations expressed in this article are those of the author alone and have not been reviewed, endorsed or otherwise endorsed by NetCredit.

About the Author

Andrea Norris has worked in the web publishing industry for 15 years, both as a content contributor and editor specializing in topics related to personal finance, frugal living, home and automotive . She writes short and long content and is well trained in SEO keyword research and writing.

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