Key takeaways

  • Both OppLoans and NetCredit offer personal loans for those who may not be able to secure funding elsewhere.
  • OppLoans is a fitting lender for a borrower who has poor credit and wants to avoid fees.
  • NetCredit offers loans of up to $10,000, which is a good option for borrowers looking for a larger loan.
  • When comparing bad credit personal loan options, it is important to calculate what the potential rate will cost you, depending on the term you choose.

It can be challenging to get a personal loan with less-than-perfect credit. Lenders like OppLoans and NetCredit understand the struggles faced by consumers with poor credit and offer tailored lending solutions to meet their needs.

These loans come at a steep cost, though, since they are risky to the lenders. So, it’s best to understand what each lender offers and compare other options before deciding which is best for you.

OppLoans vs. NetCredit at a glance

Personal loans from OppLoans and NetCredit are most suitable for consumers who struggle to get approved for funding with traditional lenders. Both come with steep annual percentage rates (APRs), but you’ll get more borrowing power and longer loan terms with NetCredit.

OppLoans NetCredit
Bankrate Score 4.2 4.3
Better for Fewer fees Higher loan amounts
Loan amounts $500-$4,000 $1,000-$10,000
APRs 160.00%-179.00% 34.00%-99.99%
Loan term lengths 9 to 18 months 6 to 60 months
Fees None Origination and late payment fees
Minimum credit score Not disclosed Not disclosed
Time to funding Same-day funding Same-day funding in select states

OppLoans personal loans

Better for fewer fees

Bankrate’s view

OppLoans acts as a payday alternative, but its APRs are still significantly higher than what you’d get with a traditional personal loan. That said, it may still cost less than a payday loan and you can access higher loan amounts. You’ll also get a loan term between nine and 18 months, which is far more flexible than the quick turnaround that comes with payday loans.

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  • No loan origination fees or prepayment penalties
  • Minimal documentation requirements
  • No hard credit check
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  • Short loan terms
  • Small maximum loan amount
  • High minimum APR

NetCredit personal loans

Better for larger loans

Bankrate’s view

NetCredit offers unsecured personal loans of up to $10,000 to borrowers with bad credit. Its loans are relatively flexible, with terms of up to 60 months. You could also get approved and funded on the same day. The starting and maximum APRs are lower than with OppLoans, which can offset the excessive borrowing costs.

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  • No minimum credit score requirement
  • Longer loan terms
  • Fast funding times
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  • Origination fees and late payment penalties in select states
  • Limited availability
  • Joint applicants or co-signers not allowed

How to choose between OppLoans and NetCredit

Depending on the APR you qualify for, OppLoans could be the more affordable option. Although you’ll have access to smaller loan amounts and shorter loan terms, the lack of fees could make it the better choice. NetCredit charges additional fees in select states. But you could receive funding a day sooner and get approved for a larger loan with a longer term.

APR range

Personal loans from OppLoans and NetCredit are most suitable for consumers who struggle to get approved for funding with traditional lenders. Both come with steep interest rates — up to 179.00 percent with OppLoans. NetCredit offers a maximum of 99.99 percent, which, while lower than OppLoans’, is still significantly higher than industry averages.

Minimum credit score

Both of these lenders cater to those with poor credit, but neither discloses a specific minimum. However, OppLoans goes the extra mile to verify your income in the easiest way possible by allowing you to connect to your bank account electronically. Because of this, there’s usually no need to upload pay stubs, W-2s or tax returns.

Repayment terms

NetCredit has much more flexibility when it comes to paying off your loan — up to 60 months versus the 18 that OppLoans offers. A term of up to five years can make your monthly payments more affordable. Just keep in mind that an extended loan term means you’ll pay more interest.

Time to receive funds

Both of these lenders boast same-day funding timelines, which can be a life-saver for those in a financial pinch. But NetCredit does not offer quick funding nationwide, so be sure to check with your home state ahead of time.


Unlike NetCredit, OppLoans does not charge an origination fee on its personal loans. You also won’t pay an application fee when you apply or if you decide to pay the loan in full before the term ends. Even better, it has no late fees, which isn’t the case with NetCredit. Depending on where you reside, NetCredit borrowers could also be on the hook for loan origination fees.

The bottom line: Which lender is better?

A bad credit score doesn’t mean you can’t qualify for a personal loan. Both OppLoans and NetCredit are options worth considering to get fast funding if you have exhausted other options. Be sure to request quotes from each lender and compare them to determine if they work for your financial situation.

Also, explore what other subprime lenders have to offer before applying for a loan with OppLoans and NetCredit. Many let you check loan offers online with a soft inquiry that doesn’t impact your credit score. Depending on your financial profile, you could be better off securing a loan elsewhere that offers rapid funding but with more attractive terms.