NetCredit is based in Chicago, Illinois, and provides unsecured loans to people with less than perfect credit; however, the company falls short in several areas when compared to the best personal loan companies. 

NetCredit’s financial services are available in 14 states. While interest rates and loan repayment terms vary by state, with this online lender, loan amounts vary between $1,000 and $10,000. It offers short-term installment loans from as little as six months, up to five years. 

Most states offer personal installment loans with annual percentage rates (APRs) between 34% and 155%. Here is a breakdown of annual percentage ranges for each state:

  • Alabama: 34-155%
  • California: 34-155%
  • Delaware: 34-155%
  • Georgia: 34-59%
  • Idaho: 34-155%
  • Illinois: 34-99%
  • Missouri: 34-155%
  • New Mexico: 34-155%
  • North Dakota: 34-155%
  • South Carolina: 34-155%
  • South Dakota: 34-36%
  • Utah: 34-155%
  • Virginia: 34-155%
  • Wisconsin: 34-155%

You'll notice that these are high interest rates. NetCredit rates are higher than traditional credit cards and personal loans (capped at 35.99% APR), but low when compared to most traditional payday lenders. NetCredit's small-dollar loans are geared toward people with bad credit. This lender could be a good fit for people that don’t qualify for a personal loan through a traditional financial institution due to imperfect credit.

Keep reading for pros and cons, plus NetCredit reviews from real customers. 

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The Good

  • Low, Transparent Lending Fees
  • Fast Approval/Funding Time
  • Less-than-Perfect Credit Accepted
  • Customer Support Availability

Low, Transparent Lending Fees

While other lenders may charge customers exorbitant amounts of fees for any inconvenience you cause them, NetCredit will not charge you a cent for application fees, a prepayment penalty, or having insufficient funds. 

Late payment is penalized after a grace period. These late fees vary by state lending terms. 

NetCredit also charges interest that works in favor of the consumer, using daily interest as opposed to compound interest. 

Fast Approval/Funding Time

One of the things NetCredit prides itself on is getting you approved for a loan and set up with funds—fast. Filling out the online application is simple enough, and when you click "Submit," you can know almost instantly whether you qualify to receive a loan, without hardly any turnaround time.

Submitting your application does a soft credit check and accepting your loan offer allows the business to do a hard credit check. 

Once you do get approved for a loan, your money can be deposited into your checking account within as soon as one business day, but it may take up to three days. Speed like this can be extremely valuable when you need your loan as fast as possible. Even if you don't need the money right away, it's still nice to know you won't have to wait a long time to see if you're even eligible to get a loan. 

NetCredit can give you results much faster than some short-term loan providers. 

Less-than-Perfect Credit Accepted

While NetCredit doesn’t provide a credit score requirement, you don't need perfect credit to work with this service provider. NetCredit won't allow just anyone to borrow, but will accept some people who have a subpar credit score on a case-by-case basis. 

If you aren’t sure, NetCredit offers to check your creditworthiness and eligibility without affecting your credit score, so you can know whether you qualify for its short-term loans, risk-free. 

The other good news is that if you have poor credit and NetCredit agrees to work with you, the loan can help you build your credit history. As you repay your loan, monthly payment history is reported to two of the major credit bureaus: Experian and TransUnion. So, depending on whether you pay on time, this can either help you build good credit or make your bad credit even worse. Partial and late payments are going to hurt your FICO score. 

Customer Support Availability

NetCredit provides several contact options for customers with questions, comments, and concerns. Should you need the help of one of a customer service representative—whether it's for account management, technical help, or anything else—you can call, email, or refer to the FAQs page on the website. The FAQs page alone takes care of a lot of questions you may have—not just about service policies but also about personal loans in general. 

In short, NetCredit helps you become more educated about your personal finances. With more than 10 years of experience lending and working with customers like you, the company has had plenty of time to work out the kinks and develop a process that keeps consumers happy.

The Bad

  • Hard Credit Check
  • Loan Origination Fees
  • Limited Loan Refinancing

Hard Credit Check

While applying for a loan with NetCredit doesn’t affect your credit score, accepting the loan does. When you accept your loan, the lender does a hard credit check with credit reporting agencies, which can impact your credit score. 

Loan Origination Fees

Origination fees are charged in some states on lower-interest loans. Keep an eye out for this, before you fill out a loan application or agree to any loan terms you don’t understand.  

Limited Loan Refinancing

NetCredit does not allow all borrowers to refinance their loans. That means that, for better or worse, many customers are stuck with the same interest rate for the entire loan repayment term. Considering the fact that the company specializes in bad credit loans, it would be nice if NetCredit let all customers reevaluate that rate after the first while in order to help make things more affordable. If refinancing isn't available, this lender doesn't provide a viable long-term financial solution for borrowers. 

For customers in select states, there are two refinancing options: 

Lower My Payment gives customers the opportunity to create a new loan from their existing balance. In some instances, payments can be lowered by up to 15%. 

Borrow More Money is available for customers who have borrowed less than they were eligible to do so initially. The remaining amount can be added to what is left in your current loan, allowing you to refinance that total amount. 

The Bottom Line

All in all, NetCredit has proven to be a successful personal loan agency with a solid company history. It has done well to establish a culture that values financial education (not just taking their customers' money). 

If you borrow money from this online loan provider, your monthly payments will affect your credit reporting with two of the main credit bureaus. So, you have the opportunity to improve your credit score as you pay off your debt. 

Some states charge an origination fee, as well as late or missed payment fees. 

While NetCredit unsecured personal loans are a good match for people with less-than-perfect credit history, its percentage rates don’t compete with standard personal loans, and its minimum credit score acceptance isn’t as loose as most payday or online lenders. Borrowing money from this lender is a good choice if you don’t have great credit, but you may not be accepted if you have poor or no credit. The good news is that you can check your eligibility without a hard credit check, so if you aren’t accepted, it won’t affect your credit report with the credit reporting agencies. 

Have you worked with NetCredit? Let us know about your experience with a quick review below. 

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User Reviews

Star Rating


29 Reviews

Review Breakdown

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Sentiment Criteria

Value for your money
Quality of product or service
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charles miller

January 8th, 2020 DETAILS arrow_drop_down
Value for your money
Quality of product or service
Customer service
Company trustworthiness

I was approved a short time ago for a loan with NetCredit for five years at 65 percent interest to handle some short term financial issues. While I agreed to the loan, the hard reality is that the high interest charges over the five year period would be more than 3 times more than the amount I borrowed. Borrowers need to be aware that depending on the interest rate, the longer you pay on the loan, the more interest you will pay. I have decided to pay-off this loan as soon as possible because I refuse to pay 3 times the amount I borrowed to NetCredit. Be very aware of the interest charges and the total cost of a loan with NetCredit before you sign on the dotted line.


Marie M

November 4th, 2019 Culver City, CA

If a cockroach could talk, I would probably get better CSR treatment and better rates. They really need to stop playing that NETCREDIT commercial. Total scam artist and dumb as a rock. The Devil himself would not lie to customers as much as this company. Get this. you cannot delete your information. Good grief! Chicago of all places. I have been watching my credit bureau reports like they were the stock market. RUN, DON'T WALK FROM NETCREDIT.



October 21st, 2019 Ogden, UT

I have a credit score of 670 and applied with NetCredit today . I was first skeptical and stopped my application process then received a call from a lady who was really helpful and averted all my questions for me. I decided to continue with my application went through the verification process even had to go to my online banking form to log in. Well after I recurved a email saying I need to send over a bank statement. I called in to ask questions on why because I logged in my online banking to have them look at my credit union account. Well I then received a call from a lady from net credit who wanted me to provide my 9 digit social? I then pressed record on my phone because I have been a victim of identity theft in the past. My concern I was in phone with net credit when call came in. She said this is Miranda and if you don’t provide me with your fill 9 digit social security number uour application will be denied? I explained I wanted to call back in to verify because me being a victim of identity theft. She said either give it to me or I’m disconnecting this call! I asked to speak with someone else and she said no one else was there! She hung up on me and withdrew my application . This was the worst service from any company I have ever receieved!


Ken Orozco

September 9th, 2019 Anza, CA

They are a bunch of liers and they are complete trash. They preapprove you and then lie you about your credit report. Please look elseware.



February 19th, 2019 Oakland, CA DETAILS arrow_drop_down
Value for your money
Quality of product or service
Customer service
Company trustworthiness

I am currently a loan holder. The approval process was fairly easy. My finances were a bit spicy at the time and I needed fast relief as well as way to my build credit. While I was able to maintain the payments, the only regret is that in turn I was paying a loan inflated with interest. Yes, it was a short term relief, but the long term effects were payments lasting 3 years beyond acceptance of the initial loan, which is standard for payday institutions such as NetCredit. I wouldn't recommend it to anyone. WORK THROUGH YOUR OWN FINANCIAL BIND AND SAVE YOUR OWN MONEY FOR YOU! 3000.00 = 8000.00 do the math.



April 11th, 2018 Los Angeles, CA

I was approved for a $3200 loan. I accepted a loan for a little less, $2900. I read their payment scheduled and made sure it was something I could pay. I wanted to refinance for a higher amount and was told by customer service their "computer" decided what customers were offered a refinance. It would be great if NetCredit would reconsider this and let "human beings" make the decision on if customers can refinance. After reading all of the negative stories from other customers, maybe it's a blessing in disguise I haven't been offered a refinance. :(



November 27th, 2017 Lemon Grove, CA

I started the application but discontinue it after I saw 98% of APR.. It's crazy ... It's too much so I discontinued.... 79 payment n $235 twice a month therefore, I will own them over 18k ... This is a mistake and I should've stayed away .... OMG... they got all my personal info too n hopefully they won't do any bad stuff with it...


Li Sun

August 14th, 2017 Phoenix, AZ

What NetCredit does not let you know is what your APR is and they charge exorbitant rates. How is it legal that a company who claims to be an installment loan company charges payday interest rates? Mine is 98.97%! Their terms are also not in line with the Truth in Lending Act where businesses are required to provide 3 days for cancellation, NetCredit only provides one. Also, they don't tell you that barely any of your high monthly amount goes towards your principle. In addition, when you first apply you don't do it the regular way of submitting your information, instead they put you through a process where you must submit your bank user ID, password, and any pass phrases!


Brigitte C Luckett

July 31st, 2017 Rocky Mount, VA

I understand that my credit isn't great (I wanted to consolidate debt to try and improve my score), but offering me a loan at 98% APR is RIDICULOUS!!!!! I can't rate any of their other services - as soon as I saw what the rate would be, I stopped the loan application process. Of course now they have all my info, ssn, etc., so I regret ever even going to the site.


Robert Cole

June 21st, 2017

I had to get all kinds of information for them and bank statements even though I don't get statements. The statements showed I had direct deposit and they declined me for unacceptable bank account history. Every time I've called it's taken at least 20 minutes to get someone on the phone and then no one in the entire company can tell me what that means. Bigest waste of time ever!!


Harriet Yancey

April 24th, 2017

I took out a loan from these loan sharks when I was in a desperate situation 4 months ago. On a $5400.00 loan, I have paid $2,000 in interest, no principal and when I paid it off yesterday, I had to pay $260.00 more than the amount of the original loan. Stay away from these people. They are scums.


Christine Williams

October 11th, 2016 Portsmouth, VA

I reported NetCredit to the Consumer Financial Protection Bureau and I will be filing a complaint with the Virginia Bureau of Financial Institutions and the Virginia State Attorney this evening. I questioned the Consumer Financial Protection Bureau if an APR of 98.9% is legal in the state of Virginia. This company goes under the name of Utah LLC DBA NetCredit regulated by the Utah Department of Financial Institutions. NetCredit responded to my complaint with the Consumer Financial Bureau asking that I contact them to discuss reasonable payment arrangements. When I contacted NetCredit's Consumer Service Department in Illinois, the customer service representative laughed at me regarding payment arrangements. I asked to speak with a manager, instead I was transferred to the escalation representative who also laugh at me and advised me with the interest rate the payments for a $3,900.00 will total up to $11,000.00 and that I would be paying an extra $7,000.00 for this loan. I called back and asked to speak with their legal department and was told that they would get back to me in 3 days. I have also disputed NetCredit's response with the Consumer Financial Protection Bureau.



September 26th, 2016 El Segundo, CA

I started the process and got approved. I entered my banking account information and made a mistake. NetCredit contacting via email and asked for bank statements and a cancelled check to verify my account information, due to my error on the account #. They approved me and sent the $ to my bank; however NetCredit did not make the correction to my account and the bank sent it back. I called NetCredit wanting to know were the loan was and they stated since the bank sent the funds back, due to the wrong account information, they went ahead and cancelled the loan its there policy apparently. I stated that they have all the correct information and they agreed however they still went ahead and cancelled the loan due to policies. Not a word from them and I would still be waiting if I had not called them. I called three different CSR and they all told me different reasons why; however I needed to re-apply again. I tried then got denied and they could not explain why... What the heck are they doing and are they really this bad? Huge waste of time and should have gone through my own bank instead of all this run around...



August 21st, 2016 Largo, FL

660 Credit score and I was declined. This company is only looking for people with great credit scores and profiles do not apply with them. If you have a great credit score why would you get ripped off with such high interest????????


Phyllis Doss

July 21st, 2016 Richmond, VA

They are Liars andI even called a # and was told on $5,000 my payment would b #@!$ at the first of the month for 36 months and payback would be $7,000 something I found out they are taking that out 2 times and I owe $14,000 for 69 months and I have good Credit. Called n they lied again abou this!!! DO NOT BORROW MONEY FROM THEY ARE FRAUD FOR CUSTOMERS Phyllis



June 6th, 2016 Chicago, IL

The process is simple, and it does help customers declined by banks to get funded.



May 19th, 2016 Virginia Beach, VA

A good company to apply for a personal loan. you dont have to wait for your money and the staff are very helpful.



May 10th, 2016 Clermont, FL

I recently applied for a $10,000 loan from Netcredit. I was approved in less than a minute. I completed the application online and submitted all information they asked for. It was on a Friday morning when I submitted my application. In less than 24 hrs, the $10,000 was in my bank account. I went through the contract during the weekend and realized my APR for this loan was set at 35% and after 5 years, interest on this loan will be $12,000 which effectively means I have to pay back the $10,000 plus $12,000 = $22,000. I thought about this the whole weekend and on Tuesday morning I decided to return the $10,000. I could not justify paying an interest so high. My credit score is over 700 and my credit cards interest rates are between 8 - 15%. I applied for this loan because I wanted to lower balances on my credit cards and pay off some but the 35% APR from Netcredit completely defeated the purpose of applying for this loan. I have placed an application for $12,000 loan from Prosper and my interest is 10% for a 3 year loan. The interest is going to be about $2,300. Prosper, however, takes longer to release funds and they charge an origination fee (Netcredit does not charge origination fee, whatever amount of loan you apply for, the whole amount if deposited in your account). If you are already in debt, Netcredit is not the best route to help you with getting out of debt, they will bury you forever in debt. Look for other options where the interest rate is low.


Kia R.

May 6th, 2016 VA

Please do not sign up for a loan with Net Credit. Stay as far away as possible. The rates are extremely high. They repeatedly report inaccurate information to the credit bureaus, and if you lose your job or experience any financial difficulty, they will not work with to resolve the situation as they offer no hardship assistance.



May 6th, 2016 Oceanside, CA

I got a loan from this company for trip for a funeral that I have to attend, the loan is $3,000.00 went I call to let then know that I change Banks, I happen to ask what is my pay off balance. I was shock to hear that my balance is $8,.000.00 and some change I ask why is my balance got up so high that it double the amount I requested. I could not believe that I was paying 64% daily. I'm going to have the BBB AND FCC to get involve, I sure don't want to see another person to get into this mess.


angela day

April 19th, 2016

A bunch of liars tell you that your approved for a certain amount then tell you that your denied after they get your banking info. They do this by E mail instead of using the telephone number that they ask you for on the app. My opinion is that they suck. The worst company ever listed period on online loans.



March 21st, 2016 Boise, ID

Had to involve the BBB, possible fraud and inaccurately reporting to credit bureau. Also, agents seem to be in their homes, not an office. My payments were reflecting different amounts, what was withdrawn was a what was agree'd upon. Pay $40, they would post $24 - seems like fraud to me.


Jen Redding

March 21st, 2016 Burbank, CA

Stay away and do not sign up for a loan form this company. VERY unprofessional. Representatives are not trained properly and consistently have issues with miscommunication and doing their jobs properly. According to a representative, the valuable changes that were made weren't placed into the computer as it was simply "forgotten". This costed me my credit which I'm trying to repair because of the lack of doing their job properly. Who does that and especially when finances are involved??



February 25th, 2016 San Diego, CA

i filled out the first request for information and was sent a notice i qualify for $10,000.. then requested more info, then called to verify info, and then turned me down after i was told i qualified for $10,000.. all of this could have been avoided if they asked the questions first.. now they have all of my personal banking info... STEER CLEAR OF THIS ORGANIZATION !!!!



February 25th, 2016 Chula Vista, CA

I got a loan with this lender and the rates are really high. I stared my loan in June 2015. Biweekly they take from my bank account 150.00, the original loan is 5500. In NINE months I just paid to the principal $113.50 and $1,750.00 in fees. In a moment of need I didn't think clear what I was doing.


Hugh Smith

February 25th, 2016 Bakersfield, CA

This company is the prototype of predatory and deceitful lending institutions. Their offer has print which purposely is faded regarding specifics required by law, with font more than half the size of the rest of the info. Anyone who's considering this info would be trapped if the terms were accepted. APR "as low as 33%? Loan sharks look like saints compared to this company. Their offers and attempted deceit should be illegal. I intend to communicate with my elected officials. Sincerely!



November 18th, 2015

They call me sometimes and I dont even live in the states specified.


Lora stenard

September 29th, 2015 Grandville, MI

They need to verbalized to the customer payments are scheduled...based on when you are paid...I would not have signed up for this little an had a been told vs hidden in the form...


Clennis Jones

May 13th, 2015 Muskogee, OK

Unfotunately I wasn't approved at this time. Aplication was very easy to fill out. Been a fraud victim, have plenty of obligations and alligators to tame. thank you.

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