MoneyGeek’s Take

NetCredit Personal Loan Review

NetCredit offers two financial products — a personal loan or a line of credit. The former can help you pay for car repairs, bills and even debt consolidation. There is no minimum credit score requirement, implying that those with less satisfactory credit standing can be approved, depending on NetCredit’s evaluation.

Last Updated: 6/23/2022
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NetCredit can be a good option if you’re looking for fast funding. You can check your eligibility online and receive your funds within the same day if approved. Keep in mind important aspects of your loan, such as loan term, interest rate and fees, if applicable.

MoneyGeek’s NetCredit personal loan review can give you an overview of its advantages and disadvantages.

At a Glance: NetCredit Personal Loans


  • Netcredit

    • 34% to 155%APR Range
    • 660Minimum Credit Score
    • $1,000 to $10,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime To Recieve Funds

    on Netcredit Website

MoneyGeek Breakdown - NetCredit Personal Loan Details and Requirements

  • APR

    NetCredit charges anywhere between 19.9% to 155%, but your APR range may vary depending on your state.

  • Credit Score Requirements

    NetCredit emphasizes that they consider other factors besides your credit standing. It does not specify a minimum credit score requirement on its website.

  • Income Requirements

    You must have a verifiable source of income to apply for a personal loan with NetCredit. However, they do not indicate a specific amount.

  • Loan Amounts

    You can borrow anywhere between $1,000 to $20,000. Loan amounts vary by state.

  • Loan Terms

    Typically loan repayment terms range from 6 to 60 months. Your options may vary depending on state.

  • Permitted Uses

    You can use your personal loan for personal purchases, bills, car repairs, home improvement projects and debt consolidation.

  • Prohibited Uses

    NetCredit does not specify any restrictions on how you can use your funds.

  • Time to Receive Funds

    NetCredit typically funds your loan on the next business day. If you complete your application and submit all necessary information before 7:00 am CT on weekdays, same day funding is possible.

  • Origination Fees

    NetCredit mentions that some states may charge an origination fee if your loan is approved. Check your state to see if an origination fee applies.

  • Late Fees

    First, call NetCredit to inform them ahead of time of late payment and you may be eligible for a courtesy due date adjustment. If you have defaulted, late fees can range from $10 to $25, depending on your state.

  • Prepayment Penalty Fees

    NetCredit does not charge a prepayment fee if you decide to pay your loan early.

  • Co-signers and Co-applicants

    NetCredit does not mention allowing co-signers or co-applicants for personal loans.

  • Perks

    You can modify the details of your loan offer after NetCredit’s online system confirms your eligibility. It doesn't require that you accept their initial offer.

  • Mobile Application

    NetCredit does not have a mobile app available, but its site is mobile-friendly.

Is NetCredit Right for You?
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It's best to consider multiple factors when choosing a lender. NetCredit can be an excellent option under the right circumstances. MoneyGeek’s personal loan review of NetCredit can help you decide whether or not it’s a good fit for you.

Who NetCredit Is Perfect For

NetCredit can work for borrowers who need funds immediately. If you have financial obligations you need to settle quickly, NetCredit’s fast funding can be most helpful in a pinch.

NetCredit doesn’t charge prepayment fees, so it may be a better fit for individuals who can make additional payments or pay their loan in full. This way, you also save yourself from paying more interest.

Borrowers with less-than-stellar credit scores can also take advantage of NetCredit’s services. You can also use it to boost your credit standing if you make punctual payments.

Who Should Not Choose NetCredit

No matter how much you borrow, a loan is a commitment. With NetCredit's high APR, you must be sure you’re comfortable with your monthly repayment. For those looking to borrow more than $20,000, NetCredit would not be the recommended lender.

If you have time to make your decision, you may consider other lenders that offer loans to those with poor credit scores. You may find their interest rates more manageable.

It may also not be the best option for buyers who aren’t tech-savvy. Although you can reach a NetCredit representative through various hotlines, all transactions are conducted online.

How to Apply for a NetCredit Personal Loan

You can complete your entire application process online in a matter of minutes. We’ve covered the essential steps in our NetCredit personal loan review to ensure you won’t miss out on anything.

1

Prequalify

NetCredit’s website has an eligibility tool that shows how much you can borrow. It also provides you available repayment terms.

2

Fill Out Application Form

NetCredit’s online application begins by asking how much you intend to borrow and how you intend to use it. You also need to fill out personal information and create an online account.

NetCredit provides an eligibility decision within minutes. They’ll present you with offers of a personal loan, a credit line or both if you qualify. These are personalized based on your profile.

You can still adjust the loan offer at this point by clicking on Modify Loan Details. The slider allows you to choose your preferred loan amount within the set limits. Then select the repayment schedule that works best for you.

3

Wait for Approval

NetCredit typically gives a decision within the same business day. If they ask for additional information, be sure to provide it as soon as possible for prompt approval.

4

Review Loan Agreement

Make sure to check the terms of your loan. NetCredit lays out all rates and terms. Take note of whether they’re applying an origination fee and how much it’ll cost you if you make late payments.

5

Sign Loan Agreement

You can sign the document electronically once you agree to the terms.

6

Receive or Direct Funds

Funds can be disbursed the following business day if your application is approved before 7:00 am CT on a weekday.

7

Make Payments

You have several options for personal loan repayment with NetCredit. These include the following:

  • Recurring ACH (EFT - AutoPay) — You can set up your account using an automatic funds transfer. As long as the source account has enough money, you won’t have to worry about late payments.
  • Debit and Prepaid Cards — You can use these for one-time payments. You can keep a card on file or call the Customer Service line at (877) 392 2014.
  • Paper check, Money Order, MoneyGram or Western Union payment — You can send payment to this address:
    • NetCredit P.O. Box 206766 Dallas, TX 75320-6766

What to Do if You Are Rejected From NetCredit

Even if NetCredit’s eligibility tool provides offers, it’s not a guarantee that your application will be approved. A denied application is possible, but don’t be discouraged as other options may be available to you.

Lenders may have different reasons for denying your application. It may be about having a low credit score, bad credit history or insufficient income. We suggest that you reach out to NetCredit and ask for the reason. With this information, you know where you can improve.

If it’s something resolvable in the short term, ask if you can modify your loan details for re-application. Maybe a lower loan amount or shorter repayment terms will lead to a more favorable outcome. Find out what the process is, if they’re amenable to it.

If it’s a long-term concern, such as a low credit score, then you may have to allow time to work on improving your score. Remember that you can always apply for a loan elsewhere, but if your conditions remain the same, you may encounter the same results.

Frequently Asked Questions About Personal Loans

The more information you gather before pursuing a loan application, the better off you’ll be. MoneyGeek included the most commonly asked questions in this NetCredit personal loans review to help you with your choice.

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
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