NetCredit Personal Loans Review 2022

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NetCredit personal loans


Late fees, assembly fees depend on your state

Regular APR

34% to 155%, depending on your condition


Late fees, assembly fees depend on your state

Regular APR

34% to 155%, depending on your condition

  • Low minimum loan amount
  • Quick funding
The inconvenients
  • Low maximum loan amount
  • Significantly elevated APRs
  • Not available in all states
  • Late fee
  • Assembly costs
More information
  • Loan amounts between $500 and $10,000, or up to CA$10,500
  • Duration of loans between six and 60 months
  • Loans unavailable in CO, CT, DC, IA, MA, MD, ME, NV, NH, NY, NC, PA, VT and WV
  • Customer service available by email and phone

Advantages and disadvantages of NetCredit personal loans

Who is NetCredit for?

NetCredit is ideal for borrowers who want a small amount of money quickly and have poor credit. NetCredit has no minimum credit score requirement and states on its website that it considers borrowers with bad credit.

Payments on your personal loan will be reported to TransUnion and Experian, which can help build your credit score if you reliably pay on time.

Comparison of NetCredit personal loans

NetCredit, Fig Loans and OppLoans are slightly cheaper alternatives to payday loans, many of which have interest rates around 400%. However, you will still pay a much higher interest rate with these three loans than you would with a traditional personal lender.

OppLoans terms range from nine months to 24 months, depending on which state you live in. Fig has terms ranging from one to six months, depending on where you live. NetCredit offers the widest range of loan terms, from six to 60 months.

None of the three companies has a minimum credit score to qualify, so they could be a good option for borrowers who have been turned down by other companies due to a bad credit history.

Compare personal loan rates

Is NetCredit trustworthy?

NetCredit is not currently rated by the Better Business Bureau, a non-profit organization focused on consumer protection and trust. The BBB rates companies by looking at their responses to customer complaints, the honesty of advertising and the transparency of business practices.

The BBB investigates a set of complaints before issuing a rating. Customers have complained that the company approved them for loans they did not apply for and performed credit checks on them without them applying for the loan. Customers also say they couldn’t reach customer service.

In response to those complaints, NetCredit said the unauthorized loan approvals were resolved through its identity theft and fraud review process. NetCredit pointed to understaffing as the reason for slow customer support times and said it was engaged in “aggressive recruiting and hiring” to address the issue.

NetCredit has not been involved in any recent controversies.

You may not feel comfortable borrowing from NetCredit given its history of customer complaints, but be sure to reach out to friends and family who may have borrowed from the lender for a fuller picture of its services.

Frequently Asked Questions

Is NetCredit a legit company?

Yes, NetCredit is a legit company that has been running for 10 years and has received high ratings on Trustpilot.

How long does NetCredit take to fund a loan?

NetCredit will usually send you money the next business day after your application is approved. In some cases, when you submit your application before 7 p.m. Central Time, the lender will send your money the day your application is approved.

Does NetCredit do a thorough investigation?

Once you have been approved for a loan and signed on the dotted line, NetCredit will complete a firm credit application, which will allow the lender to get a full view of your credit history. This can have a negative impact on your credit score initially. But as long as you make reliable, on-time payments, your score should improve in the long run.

How much interest does NetCredit charge?

NetCredit charges between 34% and 155% APR on its loans. Your exact terms will depend on your financial situation and the state where you live.

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