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 your 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 interest rates, but you’ll get more borrowing power and longer loan terms with NetCredit.

OppLoans NetCredit
Bankrate Score 4.3 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

OppLoans personal loans

4.3
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  • Green circle with a checkmark inside
    Pros
    • No loan origination fees or prepayment penalties.
    • Minimal documentation requirements.
    • No hard credit check.
    Red circle with an X inside
    Cons
    • Short loan terms.
    • Small maximum loan amount.
    • High minimum APR.

  • OppLoans acts as a payday alternative, but its interest rates are still significantly higher than what you’d get with a traditional personal loan. But 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.

    You don’t need perfect credit to qualify, and may be able to receive funding the same business day you are approved. OppLoans also goes the extra mile to verify your income in the easiest way possible by allowing you to connect to your bank account electronically. So, there’s no need to upload paystubs, W-2s or tax returns.

NetCredit personal loans

NetCredit personal loans

4.3
Learn more
  • Green circle with a checkmark inside
    Pros
    • No minimum credit score requirement.
    • Longer loan terms.
    • Fast funding times.
    Red circle with an X inside
    Cons
    • Origination fees and late payment penalties (in select states).
    • Limited availability.
    • Joint applicants or co-signers not allowed.

  • 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.

    Like OppLoans, NetCredit is only available in select states. Depending on where you reside, you could also be on the hook for loan origination fees. However, if you qualify, the starting and maximum APRs are lower, so it could offset the excessive borrowing costs.

How to choose between OppLoans and NetCredit

Depending on the APR you qualify for, OppLoans could still 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.

OppLoans has fewer fees

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. So, despite the hefty APRs, it’s possible to save a bit on borrowing costs if you run behind on payments.

NetCredit offers larger loans

Although you can borrow as little as $500 with OppLoans, it may not be the best choice if you need a larger loan amount. Its personal loans are capped at $4,000, but you can borrow as much as $10,000 with NetCredit.

You could also be eligible for a term of up to five years to make your monthly payments more affordable. Just keep in mind that an extended loan term means you’ll pay more interest.

Compare lenders before applying

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. 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 formally 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.