NetCredit personal loan review

NetCredit overview

NetCredit is a state-licensed lender that serves borrowers who are largely left underserved by traditional banks. This includes borrowers who have poor to fair credit history (roughly FICO scores between 550 and 680). NetCredit offers competitive rates for those with lower credit scores.

Product overview

NetCredit offers personal loans ranging from $1,000 to $10,000. Your actual eligibility will depend on your state of residence, financial profile, and creditworthiness.

NetCredit fees

NetCredit does not charge application, prepayment, or in-sufficient fund fees for personal loans. In some states, NetCredit might charge a fee for late or missed payments. In some states, it may also charge an origination fee, which is a one-time, non-refundable fee that will be deducted from your loan proceeds. Origination fees are only charged if your loan is issued. Origination fees are deducted from your loan proceeds, so to ensure you have enough funds to cover your expected expenses, you’ll need to borrow enough to cover origination fees as well.

Application process

The online application takes a few minutes to fill out and eligibility decisions are typically made in seconds. If you accept the loan terms, a final decision is typically done the same business day; however, depending on whether additional information is needed, it could take up to three business days.

If your application is approved between 12 a.m. and 10:30 a.m. CT, you'll typically receive your loan the same business day. Applications approved after 10:30 a.m. CT are typically funded the next business day. If your application is approved over the weekend, you'll typically receive your money the following Monday. Fund availability may also be impacted by your individual bank.

Eligibility requirements

To be eligible you must

• Be 18 or older (19+ in Alabama and Delaware),
• Have a personal checking account,
• Have a verifiable source of income, and
• Have an active email address.

NetCredit’s website does not state a requirement to be a U.S. citizen or resident, but most lenders do require this. Be sure to confirm this requirement with NetCredit if you’re interested in getting a loan.

NetCredit reviews your eligibility and loan offer based on a broader financial picture and not just your credit score.

Checking your eligibility at NetCredit does not impact your credit score. When checking your eligibility, NetCredit does a soft credit pull. This does not impact your score. If you accept the loan terms, NetCredit will do a hard pull. This will impact your credit score slightly, as taking credit often drops your credit score for a short period. Doing a hard pull and its impact on your credit score is typical of any lending product, regardless of the provider.