Find out if NetCredit is a legit online lender and if you can trust them with a personal loan.
Founded in 2012, NetCredit offers loans of up to $10,000 in 29 states. Learn what security protocols NetCredit has and what their reputation is as a lender of personal loans.
NetCredit Personal Loan Offer
You could borrow up to $10,000 and get an interest rate personalized to your credit score.
- Recommended Credit Range: Fair or better
- Min. Loan Amount: $1,000
- Max. Loan Amount: $10,000
- Loan Term: 6 months to 5 years (varies by state)
- Turnaround Time: 1-3 business days
- Total Costs: Depends on your credit score.
- Unemployment protection
- Confidential and secure online application
Is NetCredit legit?
Yes, NetCredit is a legitimate direct-to-consumer lender that’s offered flexible loan options since 2012. Available in 29 states states only, the specific loan terms and fees you’re eventually offered will vary by your state of residence.
What makes NetCredit unique?
If you’re in need of a large personal loan and your credit score is at least 550, you can consider the benefits of this online lender.
- Shorter loan terms. Options start at six months and can last up to five years.
- Unsecured loans. You won’t need collateral for a NetCredit loan.
- Fast turnaround. You can be approved for your loan instantly, with funds deposited as soon as one business day.
- No origination fee. You won’t pay an origination fee, no matter which state you live in.
What to look out for
- Potentially high APRs. NetCredit’s APRs range from 34% to a weighty 155%.
- High late fees. If you miss a payment, you’ll face hefty fees that vary by state.
- Limited state availablity. Loans are not available in Alaska, Colorado, Connecticut, Hawaii, Illinois, Iowa, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Hampshire, New Jersey, New York, North Carolina, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Vermont, West Virginia and Wyoming.
- The fine print. Because loan policies and fees can vary widely by state, carefully read your contract and ask question about anything you don’t fully understand.
Is applying for a personal loan with NetCredit safe?
Yes. NetCredit is a legitimate lender that safeguards your information throughout the life of your loan.
- A+ BBB rating. While not BBB accredited, NetCredit has an A+ BBB rating.
- Not FDIC insured in all states. Some states offer loans through Republic Bank & Trust, an FDIC-insured bank. But loans from other states are made by members of the NetCredit family of companies, which may not be FDIC insured.
- Site security. NetCredit uses Norton and McAfee to make sure the information inputted on its website is secure from hackers.
What else do I need to know?
Some NetCredit customers complain about outrageously high APRs and frustration over automatic bank account withdrawals — a combination that can dent your savings, especially if you have an inconsistent cash flow. Keep a thorough record of your bank account and loan payments to avoid negative balances.
NetCredit can be a fit for those who can’t qualify for loans with other lenders because of their credit score, but the loans can come with steep APRs. If you have bad credit, you may want to consider a bad credit personal loan to get the funds you need from a lender you qualify for.