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NetCredit personal loans review

Improve your credit score — but watch out for extremely high rates.’s rating: 3.2 / 5.0


  • Best for borrowers with poor credit looking for larger loan amounts and longer terms than short-term lenders offer.
  • Pick something else if you have good credit — you can find better rates elsewhere.


Min. Loan Amount$1,000
Max. Loan Amount$10,500
APR19.9% to 155%
Interest Rate TypeFixed
Min. Credit ScoreNo minimum
Late Fee$15
Loan Term6 months to 5 years
Turnaround Time1 to 3 business days

How much will this loan cost me?

NetCredit personal loans come with APRs that range from 19.9% to 155% — though they vary by state. There are no fees to apply, but NetCredit typically charges a late fee of $15 if you’re more than 10 days late on a repayment.

You can borrow between $1,000 and $10,500 and repay it over 6 months to 5 years — though this also depends on where you live. Use the calculator below to find out how much a NetCredit personal loan might cost you.

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How it works

NetCredit offers different ranges of loan amounts, terms and rates depending on which state you live in. The most common loan runs from $1,000 to $10,500 with a 19.9% to 155% APR. But in some states, that can start as high as 36% — and cap out as low as 36.6%.

First, am I eligible?

To qualify for a loan with NetCredit, you need to meet a few basic requirements:

  • You must be over the age of 18.
  • Be legal resident(s) of the United States.
  • Have a social security number.

Where is NetCredit available?

NetCredit doesn’t offer loans in the following states

  • Arizona
  • Colorado
  • Connecticut
  • Iowa
  • Maine
  • Maryland
  • Massachusetts
  • Nevada
  • New Hampshire
  • New York
  • North Carolina
  • Pennsylvania
  • Vermont
  • Virginia
  • West Virginia
  • Wyoming

What information do I need to apply?

Before you start the application, have the following documents on hand:

  • Proof of income
  • Proof of identity
  • Proof of residence

Pros and cons

NetCredit can be helpful if you struggle to qualify for a loan elsewhere. But with such high rates, you could find better options elsewhere.

  • No minimum credit score required
  • No origination fees or prepayment penalties
  • On-time repayments can help build your credit
  • Also offers lines of credit
  • High rates up to 155%
  • Loans max out at $10,500
  • Limited state availability
  • Mixed online reviews

NetCredit line of credit

NetCredit unveiled a personal line of credit product in May 2019. It’s currently offered to residents of Alabama, Delaware, Idaho, Louisiana, North Dakota, Utah and Wisconsin with plans to expand to other states.

Credit limits range from $1,100 to $3,500. When you apply, you may be offered a line of credit, personal loan or both.

See other personal loan options

1 – 5 of 5

Name Product Filter Values APR Min. Credit Score Loan Amount
Best Egg personal loans
7.99% to 35.99%
$2,000 to $50,000
A prime online lending platform with multiple repayment methods.
Credible personal loans
3.99% to 35.99%
Fair to excellent credit
$600 to $100,000
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Upstart personal loans
5.6% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
SoFi personal loans
7.99% to 23.43%
$5,000 to $100,000
A highly-rated lender with competitive rates, high loan amounts and no fees.
LendingClub personal loans
6.34% to 35.89%
$1,000 to $40,000
A peer-to-peer lender offering fair rates based on your credit score.

Compare up to 4 providers

Is NetCredit legit?

Yes, NetCredit is a legit lender and has a standard privacy policy in place to keep your information safe. It uses Norton and McAfee to make sure the information you submit on its website is secure from hackers.

But its rates are high enough to fall into a legal gray area for many states — most cap personal loan rates at 36%.

Government action against NetCredit

The Virginia Predatory Lending Unit filed a lawsuit against NetCredit in May 2018 over its high interest rates. NetCredit charges Virginia residents rates between 19.9% and 155%, which violates the state’s 12% interest rate cap.

The attorney general claimed that NetCredit took advantage of a loophole that allowed it to lend to Virginia residents through Utah but didn’t have what it called a “reasonable relationship to Utah.”

It also claimed that the company illegally collected money from borrowers who had filed for bankruptcy. The case is currently still in the courts.

NetCredit reviews and complaints

BBB accredited No
BBB rating A-
BBB customer reviews 1.03 out of 5 stars, based on 30 customer reviews
Trustpilot Score 4.4 out of 5 stars, based on 2,298 customer reviews
Customer reviews verified as of 16 October 2020

Fast turnaround time and easy approval are the two main reasons customers are happy with their experiences. However, several complain of inconsistent due dates and high rates — to be expected with a lender that accepts applicants of all credit types.

How do I apply?

For loans over $10,000, you’ll need to call 877-392-2014 and talk to a NetCredit representative. To apply online, follow these steps:

  1. Go to the NetCredit website and click Check your eligibility.
  2. Fill in your desired loan amount and loan purpose before clicking Let’s get started.
  3. Enter your ZIP code, date of birth and address and click Continue. This step won’t affect your credit score.
  4. Create a NetCredit account by filling in your name and email. Then select Continue.
  5. Provide NetCredit with your employment info, date of birth and Social Security number.
  6. Carefully read and agree to NetCredit’s consents and consumer notifications before clicking Continue to step 3.

What happens after I apply?

NetCredit will let you know how much you qualify for in Step 3. From there, you can choose your desired term. If approved, you can sign your loan contract. NetCredit will finalize your loan, and funds may be available in your account as soon as the next business day.

How do repayments work with NetCredit?

To save time and effort, NetCredit recommends that borrowers enroll in electronic funds transfer, which you can set up to withdraw funds from your account when a payment is due.

NetCredit offers several other repayment options, including:

  • Paper check
  • Debit cards
  • Money orders
  • MoneyGram
  • Western Union

NetCredit doesn’t charge a prepayment penalty, so you can end your loan at any time without any extra costs. If you know you won’t be able to make a scheduled payment, contact NetCredit and try to find a solution. Missed or late payments add up and could result in their collections department contacting you or a negative hit to your credit score.

If you’re on the fence with NetCredit, check out some of its top competitors. Or compare your other options with our guide to personal loans.

Frequently asked questions

Does NetCredit report to the major credit bureaus?

Yes. NetCredit reports repayments to TransUnion and Experian. This can help improve your credit score if you make on-time repayments. But if you’re late or default, it will lower your score.

Will my credit score be affected by applying?

Not initially. Checking your eligibility starts with only a soft inquiry that will not affect your credit. After a loan offer is extended, NetCredit conducts a hard inquiry which will cause a small temporary impact to your credit score.

Are there any hidden fees?

No, the ClearCost for Me program ensures there will be no additional fees.

Personal loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor

We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate personal loan providers.


Review by

Aliyyah Camp was the personal loans publisher for Finder. Aliyyah earned a BA in communication from the University of Pennsylvania.

Expert review

NetCredit is ideal for borrowers with less-than-perfect credit who need to take out a larger loan than typical short-term lenders offer. You can borrow up to $10,500 with terms up to five years. And while its rates are high compared to traditional personal loan providers, they aren’t nearly as high as many short-term loan providers out there.

But you’ll need to live in one of the states it operates in to qualify. And it has mixed online reviews from former borrowers. You can also find better rates elsewhere if you have good to excellent credit.

Not sure about NetCredit? Take your time and compare your other options with our table.

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  1. Default Gravatar
    February 20, 2019

    I need a consolidation loan my credit has plunged since trying to get one I have the means to payback the loan but not all my previous loans everything would improve if I could pay them off. Can I get this loan with a score under 500

    • Avatarfinder Customer Care
      February 21, 2019

      Hi Allen,

      Thank you for reaching out to Finder.

      NetCredit credit score requirement is a minimum of 550. Same with loan providers that offer loan consolidation on our loan consolidation page. You may consider taking out a loan to pay off your previous loan amounts. Just enter your state and credit range to see your options. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!


  2. Default Gravatar
    July 3, 2018

    Do you give personal loans to someone with a 486 credit score

    • Default Gravatar
      July 4, 2018

      Hi Lori,

      Thanks for leaving a question on Finder.

      As long as you are 18+ years old, a legal resident of the US, and can provide your SSN, you can apply for a loan and get approved with NetCredit.

      To apply, click on the “Go to site” button. Then,
      – Fill in your desired loan amount and loan purpose before clicking Check your Eligibility. This step will not affect your credit score.
      – Begin by creating your NetCredit account by filling in your name and email. Next, fill in your personal information such as your phone number and address and click Continue to Step 2.
      – Provide NetCredit with your employment information, birthdate, and Social Security Number.
      – Carefully read and agree to NetCredit’s consents and consumer notifications before clicking Continue to Step 3.
      – See what you qualify for in Step 3 and choose your desired terms.
      – Sign your loan contract in Step 4 and receive funds as soon as the next business day, if approved.

      Alternatively, you may also compare with other personal loan lenders.


  3. Default Gravatar
    February 1, 2018

    How long after initial loan do you have to wait to refinance?

    • Avatarfinder Customer Care
      February 19, 2018

      Hi Mike,

      Thank you for visiting finder, we are a financial comparison website and general information service.

      There is no waiting period needed for net credit. NetCredit offers two refinance options that will be made available to eligible current customers. If eligible, customers may pick one of the following refinance options:

      1. “Lower My Payment”
      This refinance option offers customers the ability to reduce their contractual payment amounts by refinancing their existing loan balance into a brand new loan with a new contract and repayment schedule. Customers eligible for this option may be able to lower their payment by at least 15%!

      Eligible customers in the following states may be able to Lower Their Payment: Alabama, California, Delaware, Idaho, Missouri, New Mexico, North Dakota, South Dakota, Utah, and Virginia.

      2. “Borrow More Money”
      Customers who borrow less than their full approved amount or who have paid off a significant portion of their current loan may be eligible to top off their current loan amount with an additional disbursement amount. The existing loan balance along with the new disbursement will be refinanced into a brand new loan with a new contact and repayment schedule.

      Eligible customers in the following states may be able to Borrow More Money: Alabama, California, Delaware, Idaho, Missouri, New Mexico, North Dakota, South Dakota, Utah, and Virginia.

      You may reach out to NetCredit directly for you to check if you are eligible for refinancing.


  4. Default Gravatar
    October 9, 2017

    What is the difference of Installment Loan and Personal Loan? I would be interested in Installment one.

    • Default Gravatar
      October 11, 2017

      Hi Carolyn,

      Thanks for your inquiry.

      An installment loan is a loan that is repaid over time with a set number of scheduled payments; normally at least two payments are made towards the loan. The term of the loan may be as little as a few months and as long as 30 years. A personal loan, on the other hand, is money borrowed over 1 to 3 years and can be repaid in small installments. A personal loan can be used to buy a car, travel overseas, or consolidate debt. MoneyMe offers online personal loans up to $10,000. The repayment terms are flexible and there are no early repayment fees.

      If you want to proceed with an installment loan, we have a guide entitled, “Compare online installment loans.” Please explore that guide to learn more.

      Hope this information helps


  5. Default Gravatar
    July 20, 2017

    Because of large family member medical expenses, my credit rating is below 500. Is it possible to get a secured personal loan ($7500.) using my federal employees retirement funds as collateral?

    • Avatarfinder Customer Care
      July 20, 2017

      Hi Peggy,

      Thank you for your inquiry.

      With NetCredit personal loans, you can have up to a maximum loan amount of $10,000. You may be eligible as long as you can meet the following criteria.

      – U.S. citizenship
      – At least 18 years of age
      – A steady source of income
      – An active, open bank account

      On the other hand, you may also want to check out lenders who offer secured loans.

      I hope this information has helped.


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