NetCredit Personal Loan Review
- APR
- 34.00% to 99.99%
- Eligibility and access: 4.5/5
- Cost to borrow: 1.8/5
- Loan terms and options: 2.9/5
- Repayment support and tools: 5/5
NetCredit offers personal loans online with fast funding. Loans are smaller, have high interest rates and are typically more accessible for subprime borrowers. Personal lines of credit (PLOCs) are also available.
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Limited geographic availability: NetCredit’s products aren’t necessarily an option for everyone. The lender is currently available to borrowers in only 36 states
.NetCredit personal loans are available in Alabama, Alaska, Arizona, Arkansas, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Wisconsin and Wyoming.
- High interest rates: Many lenders keep personal loan rates below 36.00% annual percentage rate (APR), but several of NetCredit’s loans are higher than that. It’s a more expensive form of credit than many alternatives.
- Smaller loan sizes: While the loan minimums and maximums aren’t the same size in every state, NetCredit’s loans are generally smaller than many competitors. These personal loans are designed for short-term cash needs.
- Clear fees: NetCredit advertises its “ClearCost for Me™” program, stating, “You’ll know exactly how any applicable charges, fees and/or interest work” when you sign your contract.
- Offers personal lines of credit: If you don’t qualify for a personal loan or need more flexibility, NetCredit also offers personal lines of credit of up to $4,500 in select states.
- Quick approval and funding: Since NetCredit loans are often for emergencies, getting your money fast is important. You’ll typically get a decision on whether you qualify for a loan within minutes. If you accept the loan, you may receive funds the same day.
- Best for bad-credit borrowers: Borrowers who need money right away but are having trouble qualifying for a loan might consider NetCredit. Approval isn’t guaranteed, but this online lender specializes in lower scores. Rates are high, so make sure the loan is worth the interest.
NetCredit pros and cons
NetCredit offers small, higher-interest personal loans that are easily accessible for most.
Pros
- Available to some bad-credit borrowers
- Same-day funding is possible
- Payments can help you build credit
Cons
- High potential APR
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Not available in all states
NetCredit personal loans are available in Alabama, Alaska, Arizona, Arkansas, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Wisconsin and Wyoming.
- No joint or secured personal loans
Although NetCredit’s rates are lower than many payday lenders, borrowers should consider it as a last resort.
NetCredit’s lower minimum credit score requirement and fast funding are helpful if you run into a financial emergency, but you may have to pay very high interest rates. Depending on your loan terms, you could wind up paying more in interest than the principal value of the loan.
On the plus side, NetCredit reports to all three credit bureaus. That means on-time payments can help you improve your credit score (but late payments can also hurt it).
NetCredit requirements
NetCredit doesn’t disclose many specific loan requirements, but your funding amount and interest rates will be affected by your creditworthiness and where you live. At minimum, you’ll need to meet the following requirements to get a personal loan with NetCredit:
| Minimum credit score | 550 |
| Income | Must have a verifiable source of income |
| Administrative | Must have a valid personal checking account and email address |
| Residency | Must live in one of the 36 U.S. states
NetCredit personal loans are available in Alabama, Alaska, Arizona, Arkansas, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Wisconsin and Wyoming.
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If NetCredit’s loan options won’t work for your borrowing needs, shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan with NetCredit
NetCredit allows you to prequalify for a loan to receive conditional terms with a soft credit inquiry. It also sends out prequalified offers through the mail with a code. After applying, NetCredit quickly reviews your information to determine whether you’re eligible.
Once NetCredit offers you loan terms, you can choose whether to accept the loan. This involves a hard credit inquiry, a process that causes a small, temporary drop in your credit score.
You’ll also need to include some documentation as part of this process, especially for income verification, though the particular documents vary by borrower.
If you’re approved, you could get your loan the same day that you applied. For same-day funding, you must sign your loan documents before 11 a.m. CT on a business day. Otherwise, you should receive funding the next business day after approval.
How NetCredit compares to other personal loan companies
Even if you believe NetCredit aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how it stacks up against similar personal loan lenders.
| Lender | NetCredit | RISE | OppLoans |
|---|---|---|---|
| LendingTree’s rating | 3.3/5 | 3.3/5 | 3.2/5 |
| Minimum credit score | 550 | Not specified | None |
| APRs | 34.00% to 99.99% | 99.00% to 299.00% | 99.00% to 195.00% |
| Loan amounts | $1,000 to $10,000 | $500 to $5,000 | $500 to $5,000 |
| Repayment terms | 6 to 60 months | 7 to 36 months | 9 to 18 months |
| Origination fee | None | None in most states | None |
| Funding timeline | Get money as soon as the same day | Get money as soon as the next business day | Get money as soon as the same business day |
| Bottom line | NetCredit offers bigger loans with longer terms than other installment lenders. | RISE has a very high potential APR and could be the most expensive. | OppLoans’ shorter maximum loan term could help you pay less interest. |
How we rated NetCredit
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings. Read more about our editorial guidelines.
Frequently asked questions
Yes, NetCredit is a legitimate online lender that offers personal loans and personal lines of credit to eligible borrowers. It specializes in helping borrowers with lower credit scores. However, NetCredit charges very high interest rates, so you should first consider other lower-rate options.
In addition to personal loans, NetCredit offers lines of credit for individuals. A line of credit allows you to tap into funds whenever you need to borrow, and you won’t have to pay interest unless you take money out. NetCredit’s maximum line of credit is $4,500.
No, you won’t have to pay an additional fee if you pay off your full loan balance early.
Residents in most states can apply for a NetCredit loan. NetCredit is not available to borrowers in Colorado, Connecticut, District of Columbia, Iowa, Maine, Maryland, Massachusetts, New Hampshire, New York, North Carolina, Oregon, Pennsylvania, Vermont, Washington and West Virginia.
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