NetCredit Review
Installment Loans from $1,000 to $10,000
Fast approval • Secure application • No commitment
NetCredit at a Glance
About NetCredit
NetCredit, a brand owned by Enova International (NYSE: ENVA), provides personal installment loans from $1,000 to $10,000 with repayment terms of 6 to 60 months. Founded in 2012 and headquartered in Chicago, Illinois, NetCredit focuses on serving borrowers with fair to poor credit (typically 580-680 FICO) who need larger loan amounts and longer repayment terms than payday loans offer but can't qualify for traditional bank financing.
As a direct lender available in 38 states, NetCredit specializes in debt consolidation, home repairs, medical bills, and other major expenses that require $3,000+ in funding. Their installment structure means you make fixed monthly payments over 12, 24, 36, or even 60 months, making larger expenses far more affordable than a single lump-sum payday loan. For example, a $5,000 loan over 24 months might have a $300 monthly payment—much easier to manage than repaying $5,000+ in 2 weeks.
NetCredit stands out with the lowest APR range in the payday/installment lending category: 34% to 155%. While 155% is still high, the low end of 34% is competitive with some credit cards and dramatically lower than payday lenders charging 300-600% APR. Borrowers with higher credit scores, stable employment, and larger loan amounts often qualify for APRs in the 50-100% range, making NetCredit one of the more affordable options for subprime borrowers.
With an 8.8/10 customer rating and 52% approval rate, NetCredit has built a reputation for approving borrowers that traditional banks reject while offering transparent pricing and professional customer service. However, their 24-hour approval time is slower than payday lenders (1 hour typical), and their underwriting is more thorough—they do check your credit, verify income, and assess your debt-to-income ratio. NetCredit is best for borrowers who need $3,000-$10,000, can afford monthly payments, and want the lowest possible APR in the installment lending space.
Expert Opinion: Highly Recommended
NetCredit is our top recommendation for borrowers who need $3,000-$10,000 and want the lowest possible APR in the installment lending space. Their 34-155% APR range—especially the 34-75% sweet spot for borrowers with 650+ credit scores—is dramatically lower than payday lenders (300-600% typical) and even beats some credit cards for subprime borrowers. The ability to spread repayment over 6-60 months with fixed monthly payments makes large expenses manageable, and reporting to all three credit bureaus means you can improve your score with on-time payments. The downsides are slower approval (24 hours vs. 1 hour at payday lenders) and stricter underwriting (credit check required). If you have a genuine emergency requiring $1,000-$10,000, can wait 2-3 days for funding, and have a credit score of 580+, NetCredit should be your first choice before resorting to payday loans. The interest savings are substantial—a $5,000 loan at 75% APR (NetCredit) costs $2,380 in interest vs. $15,000+ in interest if rolled over multiple times at a payday lender charging 400% APR.
Example Loan Cost
Representative example of a typical NetCredit loan:
*This is a representative example only. Your actual APR and costs will depend on your credit profile, loan amount, and state regulations. Always review your loan agreement before accepting.
Pros & Cons of NetCredit
Advantages
- ✓ Lowest APR in category (34-155% vs. 300-600% at payday lenders)
- ✓ High maximum loan amount ($10,000 vs. $3,000 at most payday lenders)
- ✓ Long repayment terms (up to 60 months) with affordable monthly payments
- ✓ No prepayment penalty—pay off early to save on interest
- ✓ Reports to all three credit bureaus (Equifax, Experian, TransUnion) to help build credit
- ✓ Available in 38 states (wider availability than most installment lenders)
- ✓ Accepts borrowers with fair/poor credit (580+ FICO typical)
- ✓ Professional customer service with phone and online support
Disadvantages
- ✗ Slower approval (24 hours typical vs. 1 hour at payday lenders)
- ✗ More stringent underwriting (credit check, income verification, DTI assessment)
- ✗ Higher minimum loan ($1,000 vs. $100 at payday lenders)
- ✗ Not available in 12 states (including NY, NJ, CT, VT, WV, AR, KY)
- ✗ Origination fees may apply in some states (up to 5% of loan amount)
- ✗ Larger loans and longer terms mean you pay more total interest over time
How to Apply for a NetCredit Loan
Start Your Application
Visit NetCredit's website or use our comparison tool to submit your application. You'll need basic personal information, employment details, and bank account information.
Get Approved
NetCredit will review your application and make a lending decision within 24 hours. You'll receive notification via email or SMS.
Review & Accept
Carefully review the loan terms, including APR, fees, repayment schedule, and total cost. Only accept if you understand and agree to all terms.
Receive Funds
Once you accept the loan, NetCredit will deposit funds directly into your bank account. Funds typically arrive within 24 to 48 hours.
Frequently Asked Questions
How do I apply for a NetCredit loan?
Visit netcredit.com and complete the online application in 3 steps: (1) Provide your personal information, employment details, income, and desired loan amount ($1,000-$10,000). (2) Submit the application—NetCredit will perform a soft credit check (visible only to you, won't affect your credit score) and review your income and debt. (3) Receive a decision within 24 hours. If approved, review your loan offer showing the exact APR, monthly payment amount, and total interest cost. E-sign the agreement and funds will be deposited into your bank account within 1-2 business days via ACH transfer.
What are the requirements to qualify for NetCredit?
You must be at least 18 years old (19 in Alabama), have a regular source of income of at least $2,000/month, maintain an active checking account, provide a valid SSN, and reside in one of NetCredit's 38 operating states. NetCredit typically approves borrowers with credit scores of 580 or higher, though some applicants with scores in the 500s may qualify if they have steady employment and low debt-to-income ratios. Having a recent bankruptcy or multiple recent late payments may result in denial or higher APRs.
How fast can I get money from NetCredit?
NetCredit's approval process takes up to 24 hours—longer than payday lenders (1 hour) but faster than traditional banks (3-7 days). Most applicants receive a decision within 12 hours during business hours. Once you're approved and accept the loan agreement, funds are deposited via ACH transfer within 1-2 business days. In total, expect to have money in your account 2-3 days after applying. NetCredit does not offer same-day funding or instant transfers to debit cards.
What is the APR for NetCredit loans?
NetCredit's APR ranges from 34% to 155% depending on your credit profile, loan amount, repayment term, and state. For example, a borrower with a 650 credit score taking a $5,000 loan over 36 months might get an APR of 75%, resulting in a monthly payment of $205 and total interest of $2,380. In contrast, a borrower with a 580 score taking a $1,500 loan over 18 months might get an APR of 125%, with a monthly payment of $125 and total interest of $750. The 34% APR low end is typically reserved for larger loans ($7,000+), excellent payment history, and higher credit scores (680+).
Can I get a NetCredit loan with bad credit?
Yes, NetCredit specializes in lending to borrowers with fair to poor credit (typically 580-680 FICO range). They will perform a hard credit inquiry as part of the approval process, which may temporarily lower your score by 5-10 points. However, NetCredit considers many factors beyond credit score: steady employment, income level, debt-to-income ratio, and banking history. Borrowers with scores as low as 560 have been approved, especially if they have strong income ($3,000+/month) and minimal existing debt.
How does NetCredit compare to payday lenders?
NetCredit offers significantly lower APRs (34-155%) compared to payday lenders like CashNetUSA (300-664%) or Speedy Cash (350-600%), making it a more affordable option for larger loans. NetCredit also allows repayment over 6-60 months vs. 2-4 weeks for payday loans, reducing monthly payment burden. However, NetCredit requires higher minimum loans ($1,000 vs. $100), takes longer to approve (24 hours vs. 1 hour), and performs credit checks (payday lenders often don't). Use NetCredit for larger expenses ($3,000+) where you need affordable monthly payments; use payday lenders for small emergencies ($500 or less) when you need money in 1 hour.
What fees does NetCredit charge?
NetCredit charges interest based on your APR (34-155%) but may also charge an origination fee of 1-5% depending on your state. For example, a $3,000 loan with a 3% origination fee would deduct $90 upfront, depositing $2,910 into your account while you repay the full $3,000 plus interest. There are no application fees, no annual fees, and no prepayment penalties. Late payments typically incur a $25-$35 fee, and NSF fees apply if your bank account has insufficient funds when NetCredit attempts to debit your automatic payment.
What states does NetCredit operate in?
NetCredit is licensed in 38 U.S. states: Alabama, Alaska, Arizona, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming. They are NOT available in Arkansas, Colorado, Connecticut, Kentucky, Maine, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Vermont, Virginia, West Virginia, and Washington D.C.
Alternatives to NetCredit
While NetCredit is a solid choice, you may also want to consider these alternatives:
- → Credit Union Payday Alternative Loans (PALs) – Lower APRs (28% max) but slower approval
- → Installment Loans – Longer terms (6-24 months) with smaller monthly payments
- → Cash Advance Apps – $50-$250 advances with low/no fees (Earnin, Dave, Brigit)
- → Compare Other Lenders – See all 30 lenders in our network
Ready to Apply with NetCredit?
Get started in minutes. Fast approval, secure application, no commitment.
Apply Now at NetCredit →⚠️ Important Disclosure
High-Cost Loan Warning: NetCredit loans have APRs ranging from 34% to 155%, which is significantly higher than traditional bank loans. These loans are intended for short-term financial needs only and can be expensive if not repaid quickly.
Responsible Borrowing: Only borrow what you can afford to repay on time. Late or missed payments can result in additional fees, collection actions, and damage to your credit score.
Editorial Independence: Credizen.net is a comparison service. We may earn a commission when you click on lender links or apply for a loan through our platform. All reviews and ratings are based on publicly available data and user feedback. NetCredit has not influenced this review.
Emergency Financial Help
If you're experiencing financial difficulties, contact your local financial counseling service.
- South Africa: National Credit Regulator - 0860 627 627
- Romania: ANPC - 0213142200
- Colombia: Superintendencia Financiera - (571) 594 2222
- Poland: KNF - 22 262 5000