NetCredit Review
5
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NetCredit Reviews

5
Bob Phillips

WRITTEN BY

Bob Phillips

Good for small loans
Good for small loans
About NetCredit

Headquartered in Chicago, Illinois, NetCredit provides personal loans in 35 states. The company has been in business since 2012 and specializes in smaller loans to people with poor credit.

All NetCredit loans are offered by a member of the NetCredit family of companies or a lending partner bank (Republic Bank & Trust Company or Transportation Alliance Bank, d/b/a TAB Bank). NetCredit services all loans.

NetCredit’s main selling point is that they provide and service loans for people with poor credit and help them build a better credit score by reporting on-time payments to credit bureaus.

4.0

LS SCORE

4.0

CREDIBILITY

6.0

SUPPORT

10

ACCESSIBILITY

NetCredit Personal Loans Review

Headquartered in Chicago, Illinois, NetCredit provides personal loans in 35 states. The company has been in business since 2012 and specializes in smaller loans to people with poor credit.

All NetCredit loans are offered by a member of the NetCredit family of companies or a lending partner bank (Republic Bank & Trust Company or Transportation Alliance Bank, d/b/a TAB Bank). NetCredit services all loans.

NetCredit’s main selling point is that they provide and service loans for people with poor credit and help them build a better credit score by reporting on-time payments to credit bureaus.

NetCredit Personal Loans Highlights

LOAN AMOUNT

$1,000 - $10,000

LOAN REPAYMENT TERM

12-60 months

APR FIXED RATE

5.99% - 35.99%

FUNDING TIME

Same day or one business day days

ORIGINATION FEE

None

PREPAYMENT FEE

None

OTHER FEES

Yes

SOFT CREDIT PULL

Yes

LENDER TYPE

Marketplace

Pros & Cons

  • Extremely transparent marketplace
  • No fees to apply
  • No minimum credit score needed
  • Very high interest rates
  • Low maximum loan amount

Personal Loans Types

  • Unsecured Personal Loans

Loan Purpose

  • Business Loans
  • Car
  • Credit Card Refinance
  • Debt Consolidation
  • Home Improvement
  • Major Purchase
  • Medical Expenses
  • Household Expenses
  • Mortgage
  • Relocation
  • Student Loan Refinance
  • Car Bike Loans
  • Vacation
  • Wedding
  • Other

NetCredit Personal Loans Terms & Requirements

NetCredit’s lenders offer loans from $1,000 to $10,000 and repayment terms from 12 – 60 months. Their personal loans can be used for any purpose the borrower chooses. NetCredit’s interest rates are very unfavorable compared to other personal loan companies, and the credit requirements to qualify for a loan are more liberal than most other companies.

Applying to a NetCredit loan

Receiving a loan through NetCredit requires the borrower to complete an online application.

Lendstart - Applying for NetCredit loan step #1
Step 1

Check eligibility

After providing this information, you must provide your Social Security number and income information. You will then be informed if you qualify for a personal loan.

Qualification Requirements

  • Minimum age: 18
  • U.S. citizen or permanent resident
  • Have a valid Social Security number
  • Have a regular income
  • Have an open bank account for funding purposes

Required Information

NetCredit requires you to provide the standard personal information and the loan amount requested by other personal loan companies.

Application Steps & Time Frames

  • Complete the information form: 5 minutes
  • Wait for a decision: typically, several minutes or less
  • Funding is released on the same day if approved before 7 am Central or one business day if later in the day

State Availability

Available in all states

Privacy & Security

NetCredit has a Privacy Policy page on its website. However, it has not been updated since 2019.
Their security statement is non-committal:

“We use industry standard physical, technical, and administrative security measures and safeguards to protect the confidentiality and security of your personal information. However, since the Internet is not a 100% secure environment, we cannot guarantee, ensure, or warrant the security of any information you transmit to us. There is no guarantee that information may not be accessed, disclosed, altered, or destroyed by breach of any of our physical, technical, or managerial safeguards. It is your responsibility to protect the security of your login information. Please note that e-mails and other communications you send to us through our Site are not encrypted.”

Customer Support

NetCredit offers customer support via telephone and e-mail. When we called customer service, we were placed on hold for several minutes before speaking with a live representative.

Phone Support
(877) 392-2014
Mon-Fri
8am-8pm Central
Sat-Sun
9am-5:30pm Central

In Conclusion

NetCredit is a personal loan provider that specializes in assisting people with marginal credit. Their interest rates are significantly higher than the competition’s (the rate they use in their online example is 65%). They are not rated or accredited by the Better Business Bureau (BBB), and their online reviews are mostly unfavorable.

FAQ

How does requesting a short-term loan through NetCredit affect my credit score?
Applying with NetCredit does not affect your credit score.
Can I get a loan if I live outside the United States?
No; NetCredit only conducts business in 35 U.S. states.
How fast will my loan be approved?
Most applicants are pre-approved for a personal loan within minutes, and funds can be released as soon as the same day.

NetCredit Disclaimer

Loan terms vary based on application details and qualifications. s

Disclosure

This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.

WRITTEN BY

Bob Phillips

Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.