NetCredit Personal Loans Review | LendEDU

Key Points:

  • NetCredit offers personal loans for low-credit borrowers.
  • APRs are extremely high, especially for such small loan amounts.
  • Borrowers may improve their credit scores by making on-time payments each month.
  • These loans should only be considered as last resort.

NetCredit Personal Loan

NetCredit LogoView Rates

on NetCredit’s website

Editorial Rating

NetCredit Personal Loan

Editorial Rating

What we like:

Loan options for low-credit borrowers

Rates (APR)

% – %

Loan Amounts

Minimum Credit Score

Not disclosed



See how NetCredit personal loans stack up with other options.

Compare Bad Credit Loans

NetCredit is an online lender that offers personal loans and lines of credit to poor-credit borrowers. While its products can be a better option than payday loans and other predatory lending options, NetCredit’s APRs are well above our recommended 36% maximum. As such, these loans should only be considered as last resort.

If you’re considering a NetCredit loan, use this review to understand the pros, cons, and risks before moving forward.

In this review:

NetCredit at a glance

Net Credit Personal LoanRates (APR) % – %Loan AmountsTerm LengthsVaries by stateApplication FeePrepayment FeeOrigination FeeVaries by stateMinimum Credit ScoreNot disclosedMinimum Annual IncomeNot disclosedSoft Credit Check for Pre-Approval?Yes

NetCredit Personal Loans are designed for low-credit borrowers. As such, the company’s APRs are much higher than those of most other financial products.

If you can manage the payments, though, the loan could help improve your score in the long-term. Through its My CreditBuilder program, NetCredit reports loan payments to the three major credit bureaus. On-time payments can boost your credit score over time, while late payments can hurt it.

NetCredit’s Loans are not available in all 50 states (see eligibility section).

Pros & cons of NetCredit Personal Loans

The big benefit of a NetCredit Personal Loan is that low-credit borrowers are eligible and that no collateral is required. Funding is fast, too—sometimes even the same day.

On the downside, though, borrowers pay handily for these loans. NetCredit’s APRs are extremely high and could worsen a borrower’s debt problems if they’re not careful.


  • Available for poor-credit borrowers
  • No application or prepayment fees
  • No hard credit pull to check eligibility
  • On-time payments are reported to credit bureaus, helping improve your credit score
  • No collateral required
  • Fast funding


  • Not available in all 50 states
  • Very high APRs and interest costs
  • Could lead to a cycle of debt

NetCredit eligibility requirements

NetCredit doesn’t disclose any minimum credit score. Instead, the company says it considers your “unique financial picture—not just your credit score.” You will need to verify your income as part of your application, but there is no set minimum that’s required.

Borrowers living in Colorado, Connecticut, Iowa, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New York, North Carolina, Pennsylvania, Vermont, and West Virginia are not eligible. 

NetCredit application process

To apply for a NetCredit Personal Loan, hit the “Check Your Eligibility” button on the top of NetCredit’s website, select your state, and choose the “Personal Loan” column. You can then proceed to the next step, where you’ll provide:

  • The loan amount you’re applying for
  • The purpose of your loan
  • Your address and zip code
  • Your date of birth
  • Your income and employment info
  • Your Social Security number

NetCredit will then do a soft credit pull and show the loan options for which you’re eligible. You either select one of these options or modify the loan details as you see fit.

Once you choose your loan, NetCredit will ask you to sign a contract, and they’ll do a hard credit pull to verify your financial details. You may also be asked to provide some additional information or documentation.

Funding can often occur the same day as your application. However, if additional information is needed, it may take up to three full business days.

What else NetCredit offers

In addition to personal loans, NetCredit also offers lines of credit. Applicants also get use of the lender’s My ScoreSaver and My CreditBuilder programs.

The ScoreSaver program ensures your credit score isn’t hurt when you check your eligibility, while the CreditBuilder helps you improve your credit score over time (as long as you make full, on-time payments every month).

Where to find alternatives to NetCredit Personal Loans

NetCredit isn’t the only option for a personal loan—even if your credit’s on the poor side. Be sure to compare a number of options, including various bank loans, credit union loans, and online loans.

Use our guide to bad credit loans, as well as our roundup of the best personal loans, to start comparing your options today.