NetCredit Personal Loan Review (November 2024)

Best for: Bad credit, fast funding

NetCredit offers personal loans of up to $10,000 — you may receive funding the same day if you submit your application before 7 a.m. on a business day. If you apply after 7 a.m., you will typically receive your money the following business day.

While NetCredit offers flexible loan terms and doesn’t penalize early payoffs, annual percentage rates (APRs) on its personal loans are much higher than the average interest rate on personal loans. The highest APR for a personal loan with NetCredit is 99.9%, which is much higher than where most traditional personal loans cap APRs (at around 36%) but much lower than the APR on most payday loans (well into triple digits). For some borrowers with low credit scores who don’t qualify for more competitive rates, a NetCredit personal loan may be a good choice.

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NetCredit pros and cons

NetCredit offers quick funding for borrowers, and its repayment terms vary from 6 months to 60 months, offering a good deal of flexibility. NetCredit also boasts an approach to loan qualification that looks at more than your credit score, so some applicants who have had difficulty qualifying elsewhere may be able to qualify with NetCredit.

On the other hand, NetCredit’s personal loans come with very high interest rates. Its lowest APR offered is 34%, almost three times the average interest rate for a personal loan from a commercial bank. It also doesn’t offer discounts and doesn’t accept cosigners. 

NetCredit doesn’t offer personal loans in 20 states — check its rates and terms page to see whether it offers loans in your state.

NetCredit loan details

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What to consider before applying for a NetCredit personal loan

If you're thinking of applying for a NetCredit personal loan, there are some things you should evaluate first.

• Does this loan fit in your budget? While there are plenty of things to keep in mind when deciding whether or not to take out a personal loan, maybe the most important is how confident you are that you can repay it in full and on time. Review your income and expenses carefully and make a budget to see if the monthly payment is affordable for you.
• Is the cost of borrowing competitive? Borrowing money is almost never free, and NetCredit personal loans come with high interest rates and may also include origination fees. Apply to multiple lenders and see what interest rates you qualify for. Do the math to see how much you’re paying in interest and fees over the life of a loan to see how much borrowing money will really cost you. It may be worth taking some time to boost your credit score before reapplying, as a higher credit score can help you qualify for lower interest rates.
• Do you need this loan? People use personal loans for a variety of reasons, but if you can find another way to get the money you need for less, that may be better. Alternatives like 0% APR credit cards, secured loans, or loans from family and friends can help you meet urgent financial needs without the high cost of borrowing. If the need isn’t urgent, it may be worth it to avoid taking out a personal loan at present and either saving up for the expense or finding another way to fund it.
• Does NetCredit serve your state? NetCredit offers personal loans in Alabama, Alaska, Arkansas, Arizona, Delaware, Florida, Georgia, Hawaii, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Montana, Nebraska, New Jersey, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Wisconsin, and Wyoming.

NetCredit personal loan requirements

NetCredit’s conditions for qualifying for a personal loan may vary according to your situation, but here are the basic requirements:

• You must be 18 years or older.
• You must have a valid personal checking account.
• You must have an active email address.
• You must have a verifiable source of income.

How to get a personal loan with NetCredit

Here’s what you can expect from the process:

1. Check eligibility on the website: NetCredit offers an easy online way to check your eligibility without hurting your credit score. Remember that prequalification is not an offer of credit, however, and final rates may be higher.
2. Complete application: If you’re eligible, you’ll need to provide some or all of the following information:
   1. Your Social Security number
   2. An address — it has to match the address on your ID
   3. Proof of income, such as pay stubs
   4. Applicants will be prompted to connect with their bank account in the application portal and will be asked to provide bank statements if they can’t do so
   5. If you receive federal benefits, you may need to provide your benefit letters.
   6. At this point, the lender will conduct a hard credit check, which may temporarily lower your credit score by a few points.
3. Sign loan: If you're approved for the loan, carefully review the terms then sign and complete the paperwork. According to NetCredit, you’re likely to get your money in one business day.
4. Begin making payments: Automate your loan payments or set up reminders to ensure you don’t forget.

How to contact NetCredit

There are a few ways you can contact NetCredit’s customer support if needed:

• Call customer support at (877) 392-2014 between the hours of 8 a.m. and 8 p.m. CT Monday through Friday, or 9 a.m. to 5:30 p.m. CT Saturday and Sunday
• Email customer support at [email protected]
• Fax customer support at (855) 878-1068
• Mail physical mail to customer support at:

Customer Support Team

NetCredit

175 W. Jackson Blvd., Ste. 1000

Chicago, IL 60604

How NetCredit compares to other lenders

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Methodology

Credible evaluated personal loan lenders based on factors such as customer experience, minimum fixed rate, maximum loan amount, funding time, loan terms, and fees. Credible’s team of experts gathered information from each lender’s website, customer service department, in-house resources, and via email support. Each data point was verified to make sure it was accurate at the time of publication.