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About Bankrate Score
Bankrate's take: NetCredit is a lender that provides funding to borrowers with bad credit. Its APR range is significantly higher than many other options available, which makes its loans more costly.
$1,000-$10,000
34.99% to 99.99%
6 to 60 months
NetCredit gives borrowers as little as $1,000 and as much as $10,000, giving borrowers with poor credit a way to pay for unexpected expenses or even cover last minute moving costs. The $10,000 maximum is much lower than most other bad credit lenders, some of which offer up to $50,000 loan amount options. The smaller cap may help you avoid borrowing more than your monthly budget can afford.
NetCredit also offers a personal line of credit of up to $4,500. Funds can be used as needed and paid in full at any time without penalty. If you submit your application before 11 a.m. CT Monday through Friday, you could receive funds the same day.
NetCredit’s website doesn’t list any restrictions on how you use personal loans or line of credit funds. One unique feature of NetCredit’s products is you can choose an installment loan, a line of credit or both.
That may come in handy if you need a loan for a small cost, like new tires on your car, and prefer a fixed payment. Or if you know your air conditioner or water heater is at the end of its life, you could take a line of credit so you have the funds available if either one breaks down. You’ll only make a payment on the amount you use, and can pay the balance off without penalty.
NetCredit borrowers can reach a representative seven days a week. Monday through Friday customer service hours are 8 a.m. to 8 p.m. CT. Weekend hours are Saturday and Sunday from 9 a.m. to 5:30 p.m. CT. There are also several email addresses for customer support, loans that are in process and for general feedback.
The loan application process can be done entirely online or started by phone. NetCredit doesn’t currently offer chat support. However, it does offer customer support seven days a week, compared to many lenders that only offer Monday through Friday customer support. You can also find helpful NetCredit videos on YouTube covering a wide variety of topics related to personal loans.
Reviewers give NetCredit a 5-star rating 86 percent of the time out of the over 20,900 total reviews on Trustpilot as of March 18, 2024. Most of the reviews consistently cite the speed of funding and that the lender was able to approve their application request after other lenders denied them.
Most of the 4 percent of poor reviews were from borrowers who either didn’t meet the approval requirements or were upset with the high interest rates, although they are disclosed on NetCredit’s website. Of these poor reviews, NetCredit replied to 97 percent.
You can borrow as much as $10,000 compared to the $4,000 cap at OppLoans. APRs are much lower at NetCredit, maxing out at 99.99 percent compared to the 160 percent APR OppLoans offers.
Opploans may be a better option if you only need a $500 loan — you’ll need to borrow at least $1,000 at NetCredit. If you need funds for an unexpected expense, Opp Loans may be worth a look — more than one-third of Bankrate users that choose to take out a loan with OppLoan use it to pay for emergencies.
NetCredit offers payoff periods as short as 6 months, much less than the 24 month minimum term offered by OneMain Financial. You can also borrow as little as $1,000 at NetCredit compared to the $1,500 minimum required by OneMain.
OneMain’s APRs are between 18 percent and 35.99 percent which gives you substantial savings over NetCredit’s 34 percent to 99.99 percent range. You can also choose to add a co-signer to help you qualify for a OneMain loan, something that’s not permitted at NetCredit.
NetCredit requires proof of employment and regular income, and will pull a credit report to verify your credit history and credit score. The only other requirements required for a prequalification are proof of a valid checking account and email address.
| Overall Score | 4.3 | Explanation |
|---|---|---|
| Availability | 4.8 | Offers terms as long as 60 months and loan amounts starting at $1,000. |
| Affordability | 2.8 | APRs are much higher than rates offered by most Bankrate reviewed personal loan lenders. |
| Customer Experience | 5.0 | Customer service available seven days a week. |
| Transparency | 4.6 | Rates and terms are clearly disclosed on the website and can be easily reviewed prior to application. |
57
years in business
30
lenders reviewed
20
loan features weighed
665
data points collected
Bankrate considers 20 factors when reviewing lenders. Credit requirements, APR ranges, fees, loan amounts and flexibility are all taken into account so that ratings are representative of how competitive lenders are for a wide range of credit profiles and budgets. The Bankrate Score for personal loans consists of four categories:
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.
