Item: NetCredit
Rating: 2
Author: Nicole Dow

2.0

NerdWallet Rating

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2.0

NerdWallet Rating

Est. APR

34.99 - 99.99%

Min. credit score

None

Time to fund

2 days

Loan amount

$1K - $10K

Loan term

6 months to 5 years

Disclosures from NetCredit

Overview

NetCredit is an online lender that offers high-interest personal loans to borrowers across the credit spectrum, including those with bad credit or no credit history.

The lender’s high interest rates can make these loans difficult to repay, so consider a NetCredit loan a last-resort option. NerdWallet recommends avoiding loans with rates above 36% unless you’ve ruled out all alternatives.

COMPARE: Best personal loan lenders

Regulatory action involving NetCredit

In November 2023, the Consumer Financial Protection Bureau (CFPB) issued a $15 million fine against NetCredit’s parent company, Enova International, Inc., for allegedly withdrawing funds from customers’ bank accounts without authorization and violating a related CFPB order from 2019. Following substantial changes within the CFPB, the bureau terminated its 2023 order against Enova International on Sept. 2, 2025, and “waived any alleged non-compliance.”

Detailed breakdown

Affordability

(25%)

0.5/5

We review lenders’ annual percentage rate offerings and the competitiveness of each lenders’ APR range. We also assess whether a lender charges an origination fee and any opportunity for borrowers to receive a rate discount.

Customer experience

(20%)

4/5

We consider the experience of the consumer trying to manage a personal loan, which means accessibility of customer service representatives, whether borrowers can choose and change their payment due date, and the ability to track their loan on a mobile app.

Underwriting and eligibility

(20%)

4/5

We consider the rigorousness of each lender’s underwriting practices and how widely available their loans are. This category includes whether a lender does a hard credit check before providing a loan, the range of credit profiles they accept and how many states their loans are offered in.

Loan flexibility

(20%)

3.5/5

We assess how flexible lenders can be with borrowers, including whether they offer multiple loan types, personal loan amounts and repayment term options and whether they offer direct payment to creditors on debt consolidation loans.

Application process

(15%)

5/5

We consider the lender’s full application process, including a borrower’s ability to preview their loan offer via pre-qualification, whether basic loan information such as APR range and repayment terms are available and easy to find online and how quickly a loan can be funded after approval.

Overall

2/5

Read more about our ratings methodology for personal loans.

Where NetCredit personal loans stand out

Accepts borrowers with bad or no credit: NetCredit says it evaluates borrowers based on their full financial picture, not just their credit history. A bad credit score (high 500s or lower) or a lack of credit history may not prevent you from getting this loan.
Option to pre-qualify with a soft credit check: Interested applicants can check their eligibility and learn their estimated rate and terms with only a soft credit check. This lets potential borrowers compare offers from NetCredit with other personal loan offers.
No fees: Unlike some personal loan lenders, NetCredit does not charge origination, late or non-sufficient funds fees.
Fast funding: NetCredit says it makes a decision on loan eligibility within seconds and typically sends funds by the following business day. There’s also the opportunity for same-day funding for those who complete their applications by 11 a.m. CT on a business day.
Options to choose and change your payment date: NetCredit lets borrowers choose their first payment date and adjust their monthly due date in the future, if needed. This is a helpful feature if you change jobs and have a new payday or need to balance your loan payment with other expenses.

Where NetCredit personal loans fall short

Rates exceed 36%: Most consumer advocates say 36% is the highest annual percentage rate (APR) a loan can have and still be considered affordable. NetCredit’s maximum APR is nearly 100%, and the lender does not offer any rate discounts. With these high rates, you may end up paying more than half of what you borrowed in interest alone. For example, a $5,000 loan repaid over two years at 60% APR would cost $3,696 in interest.
Does not perform a hard credit check: NetCredit does not perform a hard credit check during the loan approval process. This means the lender does not dig as deeply into applicants’ credit history to accurately assess whether an applicant will repay the loan. Lenders that only conduct soft credit inquiries often charge high rates to make up for this additional risk.
Does not offer large loans: NetCredit does not offer loans above $10,000, which is not ideal if you need to finance a more expensive home repair or other cost.
No co-signed, joint or secured loan options: NetCredit only offers unsecured loans. Some other lenders let borrowers add a co-signer, co-borrower or collateral to their application to increase their odds of approval or of getting a lower rate or higher loan amount. Compare joint and co-signed loans.
Reports payments to only two of the three major credit bureaus: NetCredit reports payments to Experian and TransUnion but not Equifax. This means if you make on-time payments toward a NetCredit loan, and future lenders only pull your Equifax report, they will not see your positive payment history.

How to qualify

NetCredit says its loans are for borrowers across the credit spectrum and that lending decisions are not based on credit scores alone. The lender does not provide loans to residents of CO, CT, IA, ME, MD, MA, NV, NH, NY, NC, PA, VT, WA, WV or Washington, D.C.

NetCredit’s borrowing requirements

Minimum credit score: None.
Must be a U.S. citizen and provide a valid Social Security number.
Must have a valid U.S. bank account and email address.

» MORE: How to get a personal loan

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Compare NetCredit to the best personal loans

Personal loan lenders offer different rates, loan amounts and special features, so it pays to weigh other options. The best personal loan is usually the one with the lowest APR.

2.0	4.5	5.0	5.0
EST. APR 34.99-99.99%	EST. APR 8.74-35.49%	EST. APR 7.90-35.99%	EST. APR 7.74-35.99%
LOAN AMOUNT $1K-$10K	LOAN AMOUNT $5K-$100K	LOAN AMOUNT $1K-$60K	LOAN AMOUNT $1K-$50K
MIN. CREDIT SCORE None Get My Rate	MIN. CREDIT SCORE None Get My Rate	MIN. CREDIT SCORE 600 Get My Rate	MIN. CREDIT SCORE 600 Get My Rate