Wondering if CashNetUSA is legit? Read our answer here.
If you’re looking into a short-term loan, then you’ll want to make sure the company you choose is safe. The last thing you need when money is tight is to pay excessive fees for services you don’t need.
Is CashNetUSA legit?
Yes! CashNetUSA is legit. They are part of the Online Lenders Alliance (OLA) and operate legally in 30 US states.
Want a full review? Check out our page on CashNetUSA’s services
CashNetUSA Loans
You could borrow up to Varies by state,depending on your state of residency, with a payday loan from CashNetUSA.
- Min. Loan Amount: Varies by state
- Loan Term: Varies by state
- Turnaround Time: Same day - conditions apply
- Must be 18+
- No security needed
- Confidential and secure
What does CashNetUSA offer?
CashNetUSA has some great features. With them, you can find a loan that fits your needs.
- Variable loan term. 8 days to 18 months depending on the type of loan you apply for and your state of residence.
- Variable APR. 86.9% to 1,140.63% depending on eligibility, loan term and state law.
- Variable fees. Fees are determined based on your income, eligibility and the laws in your state.
- Maximum loan amount. You can apply for up to $2,600, but this greatly depends on the laws in your state.
- Application turnaround. You’ll know if you’ve been approved in minutes.
Where does CashNetUSA do business?
Note that in Ohio and Texas CashNetUSA connects borrowers with third-party lenders. Although our links to states direct to payday loans, CashNetUSA doesn’t offer payday loans in every state. Check our review article to see what features you can expect when applying.
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.
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Protect yourself from predatory lending
CashNetUSA will help you get financed quickly, but not all providers are as legitimate. Comparing your options is important. Be sure to carefully review the terms of the loan you’re considering before signing any contract. If you don’t like the terms you’re offered, you are under no obligation to accept.
Lookout for:
- High interest rates. Payday loans can have outrageous APRs that can make a $600 loan cost over $1,500 after fees.
- Steep fees. Fees $10 to $30 for every $100 you borrow, every month, can add up quickly.
- Risk of a debt spiral. Not repaying your loan can lead to refinancing or rolling over the remaining balance, which can incur possible penalties and even more fees.
According to the Pew Charitable Trusts, nearly 12 million Americans take out short-term loans annually, and many of those people end up as repeat borrowers.
As with any loan, make sure you can pay off the loan within its term before you sign a contract. Missed payments will lead to late fees and negatively impact your credit score.
CashNetUSA is more than just payday loans
Depending on your state of residence, CashNetUSA also offers:
- Installment loans. Slightly longer terms than cash advances, installment loans rely on fixed, scheduled payments.
- Lines of credit. If you have poor credit, you can apply for credit with CashNetUSA.
Is applying online safe?
CashNetUSA offers the standard 128-bit secure socket layer (SSL) to protect the information you enter on their website. In addition, they have an entire page dedicated to keeping yourself safe and secure against potential payday scams.
If you have any questions, you can contact CashNetUSA through their phone or email.
What else do I need to know?
CashNetUSA is a direct lender, meaning that your application will not be sold to other lenders, although they work with third-party lenders in Ohio and Texas.
How do CashNetUSA Loans compare?
What are some alternatives?
Short-term loans are not always the answer to getting the money you need. Here are some options outside of a cash advance to consider:
- Balance transfers. If you’re looking to use the money to consolidate your debt, a balance transfer might be a reasonable alternative. Balance transfers allow you to get all of your debt in one place, potentially with a lower interest rate.
- Credit Cards. A credit card may be a a good choice if you’re looking to make a big purchase. Some credit cards have significantly better APRs than short-term loans, and a few even have introductory offers.
Check out our page on alternatives to learn about even more options
Are payday loans available in my state?
Does cashnetusa put money in you acc and ask that you send it back to make sure that they have the right acc
Hi Dmnos,
Thank you for your inquiry.
Generally, lenders will do what you described – initiate a deposit and withdrawal of the same amount to verify the bank account. However, short-term lenders that offer quick funding may skip that preauthorization in favor of processing the loan more quickly. If the bank account isn’t valid and in the borrower’s name, the loan likely won’t be successfully processed.
I hope this information has helped.
Cheers,
Harold
I was asked to pay a fee before my loan could be given to me. Is that how this is or is it just a scam?
Hi Slim,
Thanks for reaching out. As far as we know, CashNetUSA will not ask you to pay any fees prior to a loan being funded. The fees that they will charge will be added to the total loan amount you’ll have to pay. However, loan terms might vary depending on which state you’re located. It would be a good idea to bring this to their attention immediately so they can explain or address this for you.
Cheers,
Liezl