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NetCredit Personal Loans: 2024 Review

Updated on Jan. 1, 2024
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At a glance

Rating: 4.3 stars out of 5
Bankrate Score
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Rating: 4.8 stars out of 5
Rating: 2.8 stars out of 5
Customer Experience
Rating: 5 stars out of 5
Rating: 4.6 stars out of 5

About Bankrate Score

NetCredit, a subsidiary of Enova International, offers unsecured personal loans ranging from $1,000 to $10,000, although minimums and maximums vary widely by state.

Loan amount $1,000-$10,000
APR from 34.00%-99.99%
Clock Wait
Term lengths 6 to 60 months
This lender is best for people with poor credit.

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NetCredit is best for borrowers with bad credit

NetCredit offers unsecured personal loans up to $10,000 with term lengths that range from six months all the way up to 60 months. Because the Chicago-based online lender focuses on people who are “underserved” by traditional lenders, you may qualify with less-than-stellar credit, and you won’t have to put up collateral to take out a loan.

However, because the lender is taking on more risk, NetCredit's annual percentage rates (APRs) are high compared to many other personal lenders, which can increase the cost of borrowing immensely. But the lender doesn’t restrict how you can use the loan funds and reports your payment history to major credit bureaus, which can help improve your credit if you consistently make on-time payments.

NetCredit pros and cons


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    Loans for people with poor credit.

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    Flexible loan terms.

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    Unsecured loans.


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    Not available in all states.

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    High APRs.

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    No co-signers.

Do you qualify?

NetCredit follows state-specific lending laws, which limit interest rates and control origination fees, so its terms and offerings will vary in each state. 

However, there are a few consistent requirements. You must:

  • Be at least 18 years old.
  • Have a verifiable source of income.
  • Have a verifiable checking account under your name.
  • Have an active email address.

What NetCredit doesn't allow loan funds to be used for

NetCredit doesn't list any spending restrictions for its borrowers. However, as a rule of thumb, personal loan funds can only be used for legal purposes. Additionally, most lenders forbid using a personal loan to cover higher education expenses, such as college tuition. It's best to check with NetCredit before applying to make sure your intended usage is approved, as usage criteria will vary from lender to lender.   

How this lender compares

Rating: 4.3 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
6 to 60 months
Min Credit Score
Not disclosed
Rating: 4.3 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
9 to 18 months
Min Credit Score
Not disclosed
Rating: 4.4 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
24-60 months
Min Credit Score
Not disclosed

NetCredit vs. OppLoans

Both NetCredit and OppLoans cater to bad-credit customers. Unlike NetCredit, OppLoans does not charge an origination fee. However, OppLoans’ loan offerings are capped at just $4,000, and they presently offer a single APR: a jaw-dropping 160.00 percent, even higher than NetCredit’s already-high max. This makes NetCredit the clear choice of the two, though better options exist for most borrowers. 

NetCredit vs. OneMain Financial

OneMain Financial also serves bad-credit customers. It allows applicants to increase their chances of approval by adding a co-signer or securing their loan with collateral, two options NetCredit doesn’t offer. And while OneMain’s APR range of 18.00 to 35.99 percent is higher than the industry average, it’s far lower than what NetCredit offers.

NetCredit: In the details

What we like and what we don’t like

What we like

  • Loans for people with poor credit: NetCredit doesn’t advertise a minimum credit score and is geared toward people who are “underserved” by traditional lenders, so it may be a good option if you’ve had trouble being approved for a loan in the past.
  • Flexible loan terms: While terms vary by state, NetCredit’s personal loans come with repayment terms of anywhere from six to 60 months.
  • Fast funding times: Most borrowers receive their loan proceeds in just one business day, and same-day funding may be available if you complete your application before 7 a.m. CT on a weekday.

What we don't like

  • Not available in all states: While NetCredit offers personal loans in 36 states, you won’t be eligible for a personal loan if you live outside of its footprint.
  • High APRs: Lenders serving poor credit customers often have high APRs, but NetCredit’s 34.00 percent to 155.00 percent is even higher than some of its bad-credit lender competitors.
  • No co-signers: If you’re looking to apply for a joint loan, NetCredit is not the right choice for you.

How to contact NetCredit

If you have questions during the loan application process, NetCredit operates a customer support line at 877-392-2014. Business hours are 8 a.m. to 8 p.m. CT Monday through Friday and 9 a.m. to 5:30 p.m. CT Saturday and Sunday.

You can also contact customer service via email.

How to apply for a personal loan with NetCredit

NetCredit offers an online tool that lets you check your eligibility for a loan without creating a hard inquiry on your credit report. To get started:

Features and additional perks

NetCredit also offers a host of financial tools and resources on its website to help maximize your dollars and meet your financial goals faster. And if you opt for a line of credit instead of a personal loan, you can skip a payment without incurring additional fees or interest after making six consecutive monthly payments or 12 consecutive bi-weekly payments.

Fees and penalties

NetCredit won’t charge a prepayment penalty, which is a fee for paying off your loan early. The lender also doesn't charge any application or nonsufficient fund fees. However, depending on your state of residence, you may have to pay an origination fee of 5 percent of the loan amount. The money will be taken out of your loan proceeds, which reduces the amount you receive.

Depending on the state, you may be charged a late-payment fee of up to $25 or 5 percent of the unpaid amount.

NetCredit frequently asked questions

How Bankrate rates NetCredit

Overall Score 4.3 Explanation
Availability 4.8 NetCredit offers a low minimum loan amount and has fast funding.
Affordability 2.8 Because NetCredit caters to borrowers with poor credit, its APRs are much higher than those of standard loans.
Customer Experience 5.0 NetCredit operates an entirely online application, with customer representatives available by phone seven days a week.
Transparency 4.3 NetCredit breaks down its rates and fees for each state it services, and you can prequalify before formally applying.


To select the top personal loan lenders, Bankrate considers 20 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed over 30 lenders and gave each a Bankrate rating, which consists of four categories:

  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
  • Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also took into account whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by 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.