time icon 6 min read update icon Dec. 12, 2019
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NetCredit is an online lender that offers personal loans to applicants with less-than-perfect credit.

NetCredit is an online personal loan company widely recognized for approving loans for individuals who may have subpar credit. NetCredit works in favor of the consumer by calculating interest at a daily rate as opposed to calculating compound interest. This method of calculating interest can have a lot of benefits to consumers. The application is a quick and easy process. An approval or denial result will be displayed instantly once you submit your application.

Grandfolk Scoring
Funding time 10/10
Loan amounts 8/10
Credit score 10/10
Early payoff penalties 10/10
Payment options 8/10
Restricted states? 6/10
Loan origination fee 10/10
Customer Support 9/10
Cancellation 8/10
Cost 9/10
Warranty 7/10
Ease 10/10
Funding time
How long will it take to fund a loan?
1-3 business days
Loan amounts
What are the maximum and minimum loans offered?
Credit score
Will the approval process hit my credit?
The process will make a soft hit, which will not affect your credit score
Early payoff penalties
Is there a penalty if I pay off my loan early?
No penalty for early payoff
Payment options
What options do I have to pay off my loan?
EFT, online, mail, Western Union Quick Collect, MoneyGram
Restricted states?
Is the service available in all states?
Residents in 27 states are not eligible to apply for a NetCredit loan
Loan origination fee
Is there a financing fee?
Customer Support
When is customer service available to help?
24/7 online, or call 9 AM-9 PM EST Mon-Fri or 10 AM-6:30 PM Sat-Sun
Cost or difficulty to cancel?
Loans must be paid in full
Monthly fee
Depends on your loan amount, and other factors
Is a warranty available?
No Warranty
How easy to put to use?
Very easy; call or email to get started
Age Score:
50-64 Years
65-74 Years
75-84 Years

If you have paid off your mortgage and vehicles, you may essentially be living a debt-free life. Nonetheless, in the event of a financial emergency, you may be forced to confront a new problem: difficulty in qualifying for a loan. Not having a credit score can pose itself as a problem, as traditional banks may want to see a score to gauge their risk in providing you with services. If your credit score is in the ‘fair’ range or lower, NetCredit might be a fit for you. Its lending services are an alternative for those who may not qualify for a loan from a traditional bank. The company’s flexibility is especially attractive to those who may find themselves in this credit population.  

A downside to NetCredit is the application process. Only online applications are accepted at this time. If you are not comfortable with technology or are not able to apply online, you may find the application process to be discouraging.

Health Score:
Great Health
Good Health
Fair Health
Poor Health

In the unfortunate event that you are facing a declining health condition, there may be instances when you are unable to make payments as scheduled. If this happens, a call should be made to the NetCredit Customer Support Team. In certain instances, you may be eligible for a ‘courtesy due date adjustment,’ which allows additional time to save for your next payment. 

If the illness is sudden and you find that you may have already defaulted on your payment, NetCredit’s Collections Team is available and committed to helping you set up a payment arrangement to help you get back on track. Additionally, late fees are often waived.


  • Most loans are approved (or denied) the same day you apply.
  • Prime credit is not required for loan approval. Subpar credit scores also qualify for approval, but at higher rates.
  • NetCredit offers payment arrangements and due date adjustments. Most competitors do not offer arrangements or adjustments. 
  • NetCredit does not charge loan origination fees. 


  • NetCredit does not allow all borrowers the option to refinance their loans.
  • NetCredit’s maximum loan amount is $10,000. Competing companies offer much higher max loan amounts. 
  • NetCredit’s personal loans carry excessive fixed annual percentage rates of 34-155%. These rates are much higher than most competitor rates. 
  • Some customers report that the Customer Care Team leaves a lot to be desired. Complaints of rudeness, incompetent responses and long wait times are recurring.

Bottom Line:

NetCredit has built a solid company by maintaining an overall good reputation. The company has continued to sustain a positive culture of customer satisfaction by offering loans to customers who otherwise would have been denied by traditional banks. Its interest rates are higher than most, however, its approval process is instant. Another added benefit is the ability to make payment arrangements and adjust payment due dates to accommodate life’s situations as they arise. 

In 2015, NetCredit appeared twice in reports released by the Center for Financial Services Innovation (CFSI). NetCredit's inventive and customer-oriented practices were highlighted in these reports.

NetCredit is an ideal last alternative for consumers who cannot meet the criteria to qualify for traditional credit products through conventional lenders. Although NetCredit offers payment arrangements and adjustments to accommodate the borrower, its lending rates are excessively high. These rates may make NetCredit’s services undesirable for many borrowers. 

Frequently Asked Questions:

What is required to obtain a NetCredit loan?  

To apply, you must be a US citizen, be at least 18 years old, have a steady source of income, and have an open, active bank account. You will also be required to provide proof of income as well as proof as identity. Eligibility will depend on your state of residence and your creditworthiness. The application process is completed online and is straightforward and fast. Additional information required includes: the desired loan amount, purpose of the loan, your annual income and whether you own or rent your home.

How long will it take for my loan to get funded? When will I get the money?

After you submit your application, your loan eligibility decision will appear in seconds. If you are eligible for a loan, you can then select your terms and sign your loan agreement. A final approval decision is generally provided within the same business day, but if additional information is needed, it could take up to three business days. When your loan has been approved, funds will be deposited into your account as quickly as the next business day. 

How do I make payments?

Electronic funds transfer (EFT) is the most common payment method. If you choose this option, the amount due will be electronically debited from your bank account on the due date. Debit card payments are accepted during hours of operation. Payments made by debit card will be credited and applied the same day. A check or money order payment can be sent by mail. Customers can also use MoneyGram and Western Union to send payments.  

More Information:

Product Details 

Overview: NetCredit is an online financial lender for mid-size personal loans. The company is a good choice for consumers who may not meet the criteria required to apply for traditional personal loan products through other lenders. NetCredit works hard to provide individuals with subpar credit financial products that wouldn’t ordinarily be available to them 

●     Package Details: N/A

●     Optional Accessories or Add-on Services: N/A

Additional Company Details 

●    Contract Details: Loan amounts range from $1,000-$10,000. Loan terms of 6-60 months are available. The company does not charge any loan origination fees, and most loans are funded between 1-3 business days. Loan payments can be made by EFT, online payment, mail, or Western Union Quick Collect.          

Warranty: N/A 

●    Accreditations: NetCredit does not have an accredited business profile with the Better Business Bureau; however, it maintains a rating of A-.  

●    Company Details: NetCredit was established in 2012. It is based in Chicago and is a subsidiary of Enova International, Inc. NetCredit partners with Republic Bank and Trust to offer loans in select states.


175 W. Jackson Blvd, STE 1000
Chicago, IL 60604-2863
Tel: 877-392-2014

T. Mashae Pearson - Senior Advisor

Shae is senior researcher with Grandfolk® providing in-depth product and service reviews to empower senior buying decisions.