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Top things to know about NetCredit personal loans:

  1. NetCredit offers personal loans from $1,000 to $10,000 
  2. NetCredit personal loans vary from state to state due to different lenders issuing the loans
  3. NetCredit is an emergency personal loan provider for people with credit scores below 700.  

NetCredit offers personal loans from $1,000 to $10,000 

The personal loans offered by NetCredit are unsecured, meaning no collateral such as a car title is required for the loan. The loan amount you can receive will depend on your state of residence.

The APR on NetCredit personal loans ranges from a low of 36% to a maximum of 155%, though most states have a maximum APR of 100%. The APR may include an origination fee of up to 10% in some states while others will only include interest changes with no origination fee.

NetCredit does not charge application fees or prepayment fees.  This is good, that means that you can apply and check your rates. If you take a loan, you can pay it off early and save on interest. 

NetCredit personal loans vary from state to state due to different lenders issuing the personal loans

NetCredit issues many of their personal loans by obtaining individual state licenses for lending.  These licenses in each state will restrict the loan amounts, APR, and repayment terms.  Because each state has different laws, you will have to view your state to determine the exact loan details.  In some states, NetCredit has partnered with two banks to issue the loans. In states where a bank is the lender, the loan will be regulated under that banks regulatory rules.  This makes for a more uniform set of loan terms. 

There are also a large number of states where NetCredit does not offer loans.  If NetCredit does not offer loans in your state, you can use our free loan matching service to find a lender that is able to offer a loan to you.  

NetCredit is an emergency personal loan provider for people with credit scores below 700

Net Credit offers unsecured emergency personal loans to consumers with credit scores below 700. They offer loans for customers with credit scores in the 500’s and 600’s.  That means even with damaged credit, you can get a loan from them without providing a car title or any other collateral. NetCredit can offer loans because they look at more than traditional credit scores. They are willing to work with people who have mistakes on their credit report. However, that also means that they will charge higher interest rates than many other lenders.  

If you have “bad” credit, you might be able to be approved for a NetCredit personal loan, but it will likely be at the higher APR range and probably with a lower line amount. Often lenders like NetCredit will offer you a higher loan amount after you have proven you can handle a smaller line amount by making consistent on-time payments.

Net credit personal loan can be effective in an emergency because they can do their initial eligibility in just a few seconds. Then, if NetCredit approves you for a personal loan, they will give you the details of what they are willing to offer you. These details will include the loan amount, the APR, a loan agreement, and the length of the personal loan. NetCredit uses ACH transfers from bank to bank, so they can send you the proceeds from your loan within a couple of business days to help you through your emergency. 

The Yukon Project’s take:  

NetCredit is a personal loan option for people with credit scores in the 550 to 650 credit score range. We like that they limit the fees charged and they report your payments to major credit bureaus. They give you a quick eligibility check to keep from needlessly impacting your credit score with a hard inquiry.  

But if you are considering using them, make sure you do the following:   

  1. Borrow as little as you need.  And only borrow if it’s an emergency.  
  2. Double check your budget to be sure you can handle the payments without falling behind on other bills. 
  3. Pay it off early! They don’t charge prepayment penalties and their interest rates are fairly high. Early payment can save you a lot. Even paying an extra $10 to principal each month could make a meaningful impact on the cost of the loan. 

If you are considering a personal loan offer from NetCredit and would like us to review your loan agreement, you can send it to us.  Be sure to remove any of your personal information such as name and SSN before doing so. 

Important: Always consider the cost of repayment before borrowing.  Make sure the payment fits in your budget and read the loan agreement before accepting any loan.

Picture of Nathan Foley

Nathan Foley