Net Credit Review

By Kevin Mercadante

Company Profile

NetCredit is an online lender that provides personal loans to consumers. Their goal is to keep the lending process as simple as possible, and they believe that everyone deserves access to credit. NetCredit prides itself on providing a "more personal, personal loan" and offers a 100% commitment to customer satisfaction with a process that is "simple, transparent" and reliable.

NetCredit is a subsidiary of Enova International, Inc. (ENVA) a New York Stock Exchange listed company that has served more than 3 million customers since 2004.

NetCredit was launched in 2012, and caters to the individual borrower with custom tailored loans to meet the customers' needs. The company is filling a niche for borrowers with less than perfect credit, and charges no hidden fees of any kind - other than the monthly interest rate and late payment fees.

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Service Profile

NetCredit is a direct lender, which means that your loan application doesn’t need to be underwritten by a third party, nor does it have to get funding from individual investors on the platform. No collateral is required for any of their loans, and all are set up as fixed rate, self-amortizing loans.

Depending on what state you live in, you can borrow from $1,000 up to $10,000, with terms as little as 6 months to as long as 60 months. If you do have impaired credit, NetCredit reports to Experian and TransUnion, so your good payment history with them will help to improve your credit.

NetCredit has a rating of 9.3 - “Excellent” - from Trust Pilot, which is based on a score range of zero to 10.  

Loan Features

  • Repayment terms 6 to 60 months*
  • $1,000 to $10,000 limit*
  • 35% - 150% APR*
  • Approval within minutes*
  • Funding paid within one day*
  • No prepayment penalties*
  • No loan origination fees*
  • No collateral required*


Loan Application Information

To apply for a loan from NetCredit, the following information is required:

  • Employment status
  • Social security number
  • Proof of identity
  • Proof of income


You start the NetCredit loan application process by completing a short online form. It will request how much you want to borrow and what the loan purpose will be, as well as your name and contact information. It will also ask if you own or rent your home, and what your primary income source is.

On the second page you will be asked to provide more specific information, including your after tax income, your method of income payment, the name of your employer, your job title, how long you have been there, and how frequently you are paid, as well as your date of birth and Social Security number. Verification of your information will be furnished primarily by third party verification where possible.

Approval is nearly instantaneous, and there is no minimum credit score requirement, though your credit will be a contributing factor in determining your APR.

The amount of money that you can borrow, as well as the term of the loan, will be determined by a combination of your income, your credit and the limits that are available in your state.

NetCredit loans are available in the following 29 states: Alabama, Arizona, Arkansas, California, Delaware, District of Columbia, Florida, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, New Mexico, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Texas, Utah, Virginia, Washington and Wisconsin.

Rates and Fees

NetCredit charges interest on a monthly basis. Base monthly rates vary by state and can range from 3% to 25%, which means that your annual APR could range from 35% to 150%. There are no application fees, no origination fees, and no prepayment fees.

Repayment Terms

There are two ways to make your loan payment to NetCredit. You can use electronic funds transfer (ACH debit), which are timed to coincide with your payment due date. Or you can send paper checks via postal mail service. You can choose either payment method.

You can prepay your loan, either in whole or in part, and there are no prepayment penalties for doing so.

If you are unable to make a payment on time, NetCredit may be able to arrange a courtesy due date adjustment to give you some extra time to pay. 

Help & Support

NetCredit can be contacted by mail, email, fax or toll-free phone, Monday through Friday, 8 am to 8 pm Central Time, and weekends, 9 am through 5:30 pm.

They can also be accessed via the social media, including Facebook and Twitter (@NetCreditTeam). When we called with questions the representative was courteous and fully addressed all concerns.

There is also an excellent FAQ page that will provide answers to most of your questions, whether they’re general or very specific.


Interest rates at NetCredit are higher than what they are at many other lending platforms, but the company can provide an excellent opportunity to get credit even if you have been turned down by other lenders. It will even give you a chance to get a fresh start with your credit.

Meanwhile, NetCredit charges no hidden fees of any kind, and offers at least some flexibility in the event that you can’t make a loan payment due date.

Physical Address

NetCredit 175 W. Jackson Blvd., Suite1000, Chicago, IL 60604

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