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CashNetUSA payday loans review

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Apply for a payday loan, installment loan or line of credit from this direct lender.

finder.com’s rating: 3.6 / 5.0

★★★★★

  • Best for customers who need funds fast.
  • Pick something else if you can't afford triple-digit APRs.

As fast as same business day

Turnaround time

Details

Product NameCashNetUSA Loan
Loan TermVaries by state
Loan SecurityUnsecured
Turnaround TimeAs fast as same business day
CostsVaries by state
RequirementsRegular source of income, bank account, US citizen or permanent resident, age of majority in your state
Go to CashNetUSA's website

Expert review

Elizabeth Barry

Review by


Elizabeth Barry is Finder's global fintech editor. She has written about finance for over five years and has been featured in a range of publications and media including Seven News, the ABC, Mamamia, Dynamic Business and Financy. Elizabeth has a Bachelor of Communications and a Master of Creative Writing from the University of Technology Sydney. In 2017, she received the Highly Commended award for Best New Journalist at The Lizzies. Elizabeth has found writing about innovations in financial services to be her passion (which has surprised no one more than herself).

Expert review

CashNetUSA’s short-term loans are ideal for borrowers with less than perfect credit who need money fast and can’t qualify for a traditional bank loan. You may be able to get your funds the same day you apply if approved by 10:30 a.m. CT on a business day.

But expect APRs in the triple digits, which can make it easy to fall into a cycle of debt. And you’ll need to live in one of the 30 states it services to qualify.

Not sure CashNetUSA is right for you? Compare your other options below.

WATCH: our one-minute take

First, am I eligible?

To qualify for a short-term loan from CashNetUSA, you need to meet the following requirements:

  • Active checking account
  • Driver's license
  • Active email address
  • US citizen or permanent resident
  • 18+ years old

Unlike traditional loans from banks or credit unions that rely on your credit score, CashNetUSA looks at all the aspects of your application, such as how long you’ve been employed and how frequently you get paid, to determine if you can afford a loan.

Must read: State availability

CashNetUSA does not offer loans in the following states:

  • Arizona
  • Arkansas
  • Colorado
  • Connecticut
  • District of Columbia
  • Georgia
  • Indiana
  • Iowa
  • Kentucky
  • Maryland
  • Massachusetts
  • Montana
  • Nebraska
  • New Hampshire
  • New Jersey
  • New York
  • North Carolina
  • Pennsylvania
  • South Dakota
  • Vermont
  • West Virginia

    If you live in one of those states, you’ll want to look elsewhere for a short-term loan.

    What is CashNetUSA?

    CashNetUSA is a short-term lender that has provided over 2 million borrowers across 30 states with fast funding. The application only takes a few minutes, and you’ll receive an instant decision if you’ve been approved. Once you sign the loan contract, you could have your funds transferred to your bank account as soon as the next business day.

    3 types of loans you can get from CashNetUSA

    CashNetUSA provides payday loans, installment loans and lines of credit depending on where you live.

    Payday loans

    The maximum you can apply for depends on the regulations in your state. You must repay the principal and interest by your next payday.

    StateMaximum amountAPRsLoan term
    Alabama$500228.13% – 638.75%10 – 28 days
    Alaska$500166.86% – 521.43%14 – 35 days
    California$255207.81% – 805.37%8 – 31 days
    Florida$500129.52% – 684.38%8 – 31 days
    Hawaii$500201.32% – 805.28%8 – 32 days
    Maine$300156.43% – 684.38%8 – 35 days
    Michigan$600150.34% – 712.21%8 – 31 days
    Minnesota$35090.38% – 547.5%8 – 30 days
    Nevada$1,500260.71% – 1140.63%8 – 35 days
    North Dakota$500243.33% – 486.67%13 – 30 days
    Oklahoma$500136.93% – 439.4%13 – 35 days
    Oregon$300140.26% – 153.77%31 – 35 days
    Rhode Island$1,500260.71% – 1140.63%8 – 35 days
    Texas$1,800664.17%8 – 35 days
    Wyoming$1,500235.43% – 235.55%14 – 28 days

    Installment loans

    Where you live determines how much you can apply for and how long you have to pay back the loan. The amounts are usually larger than a payday loan, and the repayment terms are longer. Your financial situation determines if you have the option to make monthly or bimonthly repayments until you repay the loan completely.

    StateMaximum amountAPRsLoan terms
    California$3,500129% – 191%18 – 24 months
    Delaware$3,500129% – 449%6 – 24 months
    Illinois$2,250205% – 415%112 – 180 days
    Mississippi$2,100249% – 299%5 – 12 months
    New Mexico$3,500129% – 175%12 – 24 months
    Texas$2,400400.16% – 466.13%4 – 6 months
    Wisconsin$1,000241% – 449%6 – 9 months

    Lines of credit

    A CashNetUSA line of credit gives you more freedom when it comes to funding and repayments. You can borrow as much as you need when you need it, up to your approved limit. When it comes to repaying your loan, you can make minimum monthly payments, lump-sum payments or pay the outstanding balance in full.

    StateMaximum credit lineAPR
    Alabama$3,000299%
    Idaho$3,000299%
    Kansas$3,000299%
    Louisiana$3,000299%
    Missouri$2,800325%
    South Carolina$2,800325%
    Tennessee$3,000275.85%
    Utah$3,000299%
    Virginia$3,000299%
    Wisconsin$3,000299%

    CashNetUSA promo code

    If you’re approved for a loan, use the promo code below to save 15% or more. Visit CashNetUSA.com for more information.

    Disclaimer: 15% off on your initial loan fee for direct payday loans or brokered loans; get a 15% rebate on your first two payments for installment loans or installment-payday loans; or get a 15% rebate on actual Credit Access Bureau fees paid for installment loans in states where CashNetUSA partners with a third-party lender. Conditions apply.

    CashNetUSA CashNetUSA

    15% off initial CashNetUSA Loan fee

    15% off on your initial loan fee for direct payday loans or brokered loans; get a 15% rebate on your first two payments for installment loans or installment-payday loans; or get a 15% rebate on actual Credit Access Bureau fees paid for installment loans in states where CashNetUSA partners with a third-party lender. Conditions apply.

    Last verified

    Popular CashNetUSA - Coupon coupon codes

    Last checked Code description Code
    12 Nov 2019 15% off initial CashNetUSA Loan fee A15****

    How this CashNetUSA promo code works

    What are the benefits of borrowing from CashNetUSA?

    Applying for a payday loan through CashNetUSA means you have access to the following features and benefits:

    • Bad credit is OK. Unlike many mainstream banks and lenders, CashNetUSA doesn’t require you to have a perfect credit history. You can apply for a loan no matter what your credit looks like as long as you can demonstrate an ability to repay.
    • Quick application. The online application takes a few minutes to complete, and you’ll find out if you’re approved almost immediately.
    • Fast turnaround. If your application is approved by 10:30 a.m. CT, your loan can be transferred into your bank account as soon as the same business day.
    • No collateral required. Since these loans are unsecured in nature, CashNetUSA doesn’t require you to provide any kind of collateral.
    Go to CashNetUSA's site

    What should I look out for?

    Consider the following potential drawbacks before taking out a loan through CashNetUSA:

    • High APRs. Depending on where you live, your loan term and how much you borrow, you could see APRs in the quadruple-digits.
    • Risk falling into a cycle of debt. Some states allow you to extend your CashNetUSA loan if you’re struggling to repay it on time. However, this typically comes with added fees, which can make it easy to get trapped in a cycle of debt.
    • Not available in all states. You need to live in one of the 31 states CashNetUSA service to be eligible for a short-term loan.

    The costs of borrowing

    Factors that affect the costs include how much money you borrow, state regulations and how long you take to repay the loan. If you don’t pay the loan off on the due date, you could end up paying more in the form of NSF fees and late charges. If you live in a state that allows extensions to your loan term, you might have to pay fees for this as well.

    You can get a clear picture of the fees by going through the loan contract, which you’ll receive after the approval of your application. If you don’t agree with the terms or feel you might not have the ability to repay the full amount on time, you’re under no obligation to sign the contract.

    How do CashNetUSA loans compare?

    Updated November 18th, 2019
    Name Product Filter Values Max. Loan Amount Turnaround time Requirements
    $5,000
    1 business day
    Direct deposit, meet minimum income requirements
    Comes with the option to change your due date so you won’t fall behind on repayments.
    $35,000
    As soon as the next business day
    Regular source of income, verifiable bank account, US citizen, ages 18+
    Get connected with multiple lenders you might qualify with — even if you have bad credit.
    $1,000
    1 to 2 business days
    Bank account, email address, phone number, US citizen or permanent resident, ages 21+
    Plus, get access to check cashing, cell phone top ups, bill pay and more at one of its many storefronts.
    Varies by state
    As fast as same business day
    Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
    Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
    $15,000
    Same business day to 1 business days
    $1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
    Get offers from potential lenders in minutes by filling out just one online form.
    $50,000
    Same business day to 1 business days
    Employed, $800+ regular monthly income, checking account, ages 18+, US citizen
    Fill out a simple online form to compare offers from several lenders that may be able to help.
    $2,600
    1 to 2 business days
    Active checking account, regular source of income, email address
    Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
    $10,000
    As fast as same business day
    Regular source of income, bank account, US citizen or permanent resident, age of majority in your state
    Explore its online education center to get tips on budgeting, how to prioritize your bills and more.

    Compare up to 4 providers

    What do borrowers say about CashNetUSA?

    BBB accreditedNo
    BBB ratingB-
    Trustpilot score4.6 out of 5, based on 10,753 customer reviews
    Customer reviews verified as of12 November 2019

    CashNetUSA isn’t accredited with the Better Business Bureau (BBB) and receives a B- rating as of November 2019. Its mediocre rating is based on over 200 complaints filed against the short-term lender and the government action taken against the company in 2015. It doesn’t have any reviews left by customers on the BBB.

    It fairs much better on Trustpilot, earning 4.6 out of 5 stars based on over 10,700 customer reviews. Those happy with the lender praised its fast, easy application. Negative reviews centered around the high cost of borrowing with CashNetUSA. While these are valid complaints, it’s important to remember that short-term loans tend to have high interest rates. Payday and installment loans are repaid over short periods of time — usually a few weeks to a few months — and you should expect to pay $10 to $30 for every $100 borrowed.

    Why was government action taken against CashNetUSA?

    In January 2015, the Commissioner of Business Oversight in the State of California cited CashNetUSA for its unscrupulous business practices that violated the California Financial Code.

    Among the charges filed against CashNetUSA include:

    • Charging unlawfully high interest rates
    • Withdrawing more money than originally agreed upon from customer accounts
    • Illegally charging returned payment and late fees with its Extended Payment Plan
    • Not updating its license with its legal name
    • Not disclosing that its licensed by the Department of Business Oversight on its website

    As a result, CashNetUSA was forbidden from collecting any interest or fees related to the above citations. It was only legally allowed to collect on the principal amount its California customers borrowed.

    Is CashNetUSA legit?

    Yes. CashNetUSA is a legit lender that has an industry-standard privacy policy on its website. The policy outlines that it might share your personal information for its own marketing purposes, everyday business practices and joint marketing efforts with other financial companies. However, you can limit this sharing by visiting the Opt Out page on its website, calling 888-801-9075 or mailing in a form found in its privacy policy.

    Its website and application also features SSL encryption to protect any information you enter online. In addition, CashNetUSA has an entire page dedicated to understanding online safety and avoiding common scam tactics. If you have any questions, you can contact CashNetUSA via their customer service phone number or email address.

    How to apply for a loan from CashNetUSA

    First, double-check that you meet CashNetUSA’s eligibility criteria. If you do, you can apply by following a few simple steps:1. Click the Go to Site button on this page to go straight to CashNetUSA’s website. The form will be prefilled with the promo code above.
    2. Select your state and click Apply Now.
    4. Enter your personal information, including your home address and Social Security number.
    5. Enter details about your bank account and employment.
    6. Submit the application and wait for the website to process your loan request.

    What information do I need to apply?

    Have the following information handy to speed up the application process:

    • Name, phone number, home address and email address
    • Date of birth, Social Security number and state ID number
    • Employer’s name and phone number
    • Income details
    • Bank account details

    CashNetUSA’s online application and your bank account information

    CashNetUSA will ask for your bank account numbers during the initial application. After you’ve signed a loan agreement, it may require you to log in through an online portal in order to verify your bank information. This helps CashNetUSA process its loans faster and deposit money more quickly.

    What happens after I apply?

    You should receive a decision almost immediately after submitting your application. If approved, read the fine print listed on your loan contract and in the FAQs on CashNetUSA’s website. While short-term loans can be a good way to afford emergency expenses, they’re a costly form of credit. Budgeting for the cost of a loan is necessary so you can be sure to avoid any extra charges for late or missed payments.

    Once you sign your contract, you’ll have your funds deposited into your bank account as soon as the same business day if approved by 10:30 a.m. CT. From here, you can use the money for whatever legal purpose you need.

    How do I repay my CashNetUSA loan?

    CashNetUSA offers three repayment options, though all might not be available in your state due to local regulations. You can either repay your entire loan at once, make partial repayments or get an extension on your term.

    To repay your loan, go to CashNetUSA’s site, enter your checking account information and authorize it to make a withdrawal on the date your repayment is due. CashNetUSA will automatically withdraw the funds from your bank account on the due date.

    You can also choose to mail in a check or money order to the following address:

    CashNetUSA
    PO Box 206739
    Dallas, TX 75320-6739

    Make sure to write your account number in the memo line. And give yourself a few extra days to make sure it gets there in time. If CashNetUSA doesn’t receive the check by 5 p.m. CT on your due date, you might incur late fees.

    If you need to make changes to your banking information, contact customer service by emailing through your account or calling 888-801-9078 at least two days before your repayment is due. You’ll also need to fax a copy of either a voided check or a bank statement from that account — it doesn’t accept starter checks.

    If you need to provide payment information to the collections department, CashNetUSA asks you not to fax or email any credit card or bank account information. Instead, call its collections department at 888-801-9078 to set up your method of payment.

    Can I extend or refinance my CashNetUSA payday loan?

    You may be able to extend your payday loan if you’re a resident of:

    • Alabama
    • Alaska
    • Louisiana
    • Maine
    • North Dakota
    • Nevada
    • Ohio
    • Rhode Island
    • Texas

    If you’re eligible, a Request Extension button will appear on the homepage of your account.

    I didn’t get the loan. What can I do?

    There are a number of reasons you might not have qualified for a loan. Depending on your income and employment history, CashNetUSA may have determined that you couldn’t afford to borrow at this point in time. Or you might not have resided in one of its serviced states.

    You may want to consider other lenders that may approve you instead.

    What other products and services does CashNetUSA offer?

    On top of its loans and lines of credit, CashNetUSA also offers two other products and services:

    • Savings program. CashNetUSA partnered with other companies to offer exclusive discounts on everything from tax preparation to eating out.
    • Financial literacy. When working with CashNetUSA, all borrowers get access to free online financial education courses and interactive tools to help you take control of your finances.

    These vary by state, so check CashNetUSA’s website to see what’s available where you live.

    Bottom line

    If you need money fast and don’t have the best credit, CashNetUSA could be a way to finance an emergency expense between paydays. But its loans are only available in a limited number of states. And the high costs could make it easy to fall into a cycle of debt.

    Before you sign the dotted line, be sure to compare all of your options, including short-term lenders like CashNetUSA.

    Go to CashNetUSA's site

    Frequently asked questions

    Is CashNetUSA a direct lender?

    CashNetUSA provides its loans directly to consumers in every state it services but Ohio and Texas. In these states, CashNetUSA functions as a connection service.

    How much time does it take to apply?

    If you have all the required information close at hand, you can complete the application in around five to 10 minutes.

    How long does it take to receive my loan?

    If you accept the loan’s contract during business hours, you could have access to your loan as soon as the next business day. Keep in mind that how quickly you see your loan depends on your bank, and it may take a few extra days before it’s fully processed.

    Do I have to provide my bank account details?

    Yes. This is because the account is used when it comes to transferring approved funds and making repayments.

    Would I have to fax any documents?

    You won’t have to fax any documents over in most instances, but you might have to if you receive alimony, disability benefits or are self-employed.

    After repaying my loan, how quickly can I apply for one again?

    This depends on the lending regulations in your state of residence.

    Will a late payment on a loan affect my credit?

    While not all lenders report to the big three credit agencies that handle credit, some might choose to report late or missing payments. This is at the discretion of the lender.

    What happens if I know my payment will be late?

    The best solution is to contact CashNetUSA and inform them. Usually, they will be willing to extend the payment deadline and find ways to help you through difficult financial times.

    Short-term loan ratings

    ★★★★★ — Excellent

    ★★★★★ — Good

    ★★★★★ — Average

    ★★★★★ — Subpar

    ★★★★★ — Poor

    We analyze short-term loan providers and similar services to help you weed out predatory lenders and find a company you can trust. We rate providers on a scale of one to five stars. Our ratings are based on factors that are most important to you, which include: loan amount, application process, fees, customer reviews and borrower experience.

    Read the full methodology of how we rate short-term loan providers and similar services.

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    36 Comments

    1. Default Gravatar
      Penny
      May 13, 2019

      My payment is due on Thursday. I have to reschedule for 30th because I got overdrawn.

      • AvatarStaff
        Jhez
        May 14, 2019

        Hi Penny,

        Thank you for your comment.

        I understand that you want to reschedule the repayment. Please be advised that you have reached Finder and not CashNetUSA directly. We recommend that you please contact them so they can check if the repayment can be rescheduled for you.

        Regards,
        Jhezelyn

    2. Default Gravatar
      Tootie
      September 26, 2017

      Why do you have to give your bank id number and password to your online banking to get a loan for 28 months

      • AvatarStaff
        Harold
        September 27, 2017

        Hi Tootie,

        Thank you for your inquiry.

        While we do not represent any company that we feature on our pages, we can offer you a general information. Generally, payday lenders ask for your Internet banking details because it gives them a way to access your statements. This is one way payday lenders are able to process your application much faster than banks. Instead of you emailing your bank statements from the past three months, the lender can access them instantly.

        To protect your information, legitimate lenders either provide only portals for you to log in directly to your bank and approve viewing access or ask for your bank account numbers. If a lender asks for your username and password directly, it could be a scam.

        CashNetUSA will only ask for your bank account numbers during the initial application. After you’ve signed a loan agreement, it may require you to log in through a portal in order to verify your bank information.

        I hope this information has helped.

        Cheers,
        Harold

    3. Default Gravatar
      Terry
      September 25, 2017

      How do I refinance my loan?

      • AvatarStaff
        Anndy
        September 25, 2017

        Hi Terry,

        Thanks for your question.

        If you want to refinance your personal loan, you may check our guide and compare your options here.

        Cheers,
        Anndy

    4. Default Gravatar
      lilia
      September 15, 2017

      Can i apply for a loan if i recieve ssi

      • AvatarStaff
        Ash
        September 15, 2017

        Hi Lilia,

        Thanks for contacting us.

        Yes, you can still apply for a personal loan even if you are under a Supplemental Security Income (SSI) Benefit. Kindly visit this page for the list of lenders that can offer you a loan.

        I hope this helps.

        Cheers,
        Ash

    5. Default Gravatar
      Sherri
      August 13, 2017

      Do you give loans to military and there dependents?

      • AvatarStaff
        Harold
        August 13, 2017

        Hi Sherri,

        Thank you for your inquiry.

        USAA is part of unique group of financial institutions with a mission to help US military members and their families with more favorable financial products, including banking accounts, credit cards, investment advice and loans to its members. You may want to consider the available options here. http://bit.ly/2w2cZcU

        I hope this information has helped.

        Cheers,
        Harold

    6. Default Gravatar
      Tonia
      August 12, 2017

      Why do you have to buy a 100 dollar card at wal mart to get a loan for 2,000 dollars

      • AvatarStaff
        Anndy
        August 12, 2017

        Hi Tonia,

        Thanks for your question.

        If you apply for CashNetUSA payday loan, you have the option to provide your bank account details. If you don’t have a bank account, that is when you will need a prepaid debit card where the lender could deposit the proceeds of your loan.

        You may also check this page to compare other prepaid debit card loans.

        Cheers,
        Anndy

    7. Default Gravatar
      Ron
      July 29, 2017

      Hello! I’m curious… I applied in Kansas and was approved for a line of credit of $700. However, the interest rate I was shown was a whopping 299%. How does that factor into repayment, if calculated from the date of loan? Does that essentially mean I’d be expected to repay $2,093 in total, and does that 299% continue to inflate my amount owed back, or is it static at $2,093? Thanks for your help!

      • Default Gravatar
        Liezl
        July 29, 2017

        Hi Ron,

        Thanks for your question.

        CashNetUSA charges an annual percentage rate of 299% or a daily interest of 0.8192%. For a loan of $700 with 12-month loan term, the total repayment you’ll make is $2,093, not accounting for any fees or penalties. However, the total repayments may vary depending on the loan term since CAshNetUSA charges daily interest based on the loan outstanding balance. Hence, the reducing interest as you make your periodic repayments.

        I hope this has helped.

        Kind regards,
        Liezl

    8. Default Gravatar
      Jobsdeals
      July 16, 2017

      hi i am not an us resident, but i have us bank debit card, can eligible for getting payday loan, please send me details at my email…

      • AvatarStaff
        Anndy
        July 16, 2017

        Hi there,

        Thanks for your question.

        If you are not a US resident, the lenders on this page may consider you for a loan and have the proceeds deposited to your debit card account.

        Kindly review the eligibility criteria and the terms and conditions of the loan product before submitting your application. You may also have to contact the lender directly to inquire if your debit card meets their criteria.

        Cheers,
        Anndy

    9. Default Gravatar
      Lenora
      July 7, 2017

      I recently got an email from cashnetusa saying i was approved for loan amount of $5000 but the transfer failed. It said that i need to purchase a giftcard for $100 in order to continue with a wiring transfer. But i noticed that the website for Cashnet says that the maximum loan amount is $2000. Or 2500. And no other payday loan places ever said anything about having to use a giftcard to get a loan. So this sounds like bull to me. So my question is should i change my account number at my bank becauae they have that info.

      • AvatarStaff
        Anndy
        July 8, 2017

        Hi Lenora,

        Thanks for getting in touch.

        In most states, the maximum amount of loan that you can get from CashNetUSA is less than $5,000. If you are in doubt about the email you received, you can contact the lender directly to confirm if it is legitimate or not.

        In regards to your bank account, if you have not given any security number such as PIN or password for your online log-in, it is generally still safe. However, to be on the safe side, it would be best to also contact your bank to inquire what is the best course of action for this situation.

        Cheers,
        Anndy

    10. Default Gravatar
      Marsha
      June 3, 2017

      Can you explain if I get the loan and only $1000.00 how does that work?

      • AvatarStaff
        Harold
        June 19, 2017

        Hi Marsha,

        Thank you for your inquiry.

        With CashNetUSA Payday Loans you can may be eligible to get a minimum loan amount of $300 up to $2,250. But basically you would need to meet all the requirements. You can review the the information stated above for this loan to have a better understanding about the offer.

        I hope this information has helped.

        Cheers,
        Harold

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