NetCredit 2025 Personal Loan Review

NetCredit is an online lender that offers personal loans with high interest rates 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.

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NetCredit personal loans at a glance

• Disclosure from NetCredit

  This offer is representative of what may be available to you; you may see additional options or different terms once you continue the application process on the NetCredit website. Depending on your state, your loan or line of credit may be offered by NetCredit or a lending partner bank. You may be asked to provide additional documents regarding your income, identity and bank account. In some states, the Annual Percentage Rate of your Personal Loan may include a loan origination fee, which is deducted from the loan proceeds. For Lines of Credit a 10% Cash Advance Fee will be deducted from the amount of each Cash Advance, and each billing period a Statement Balance Fee of $0 - $700 will apply based on your Cash Advance Balance. Each Billing Cycle, your Minimum Payment will include a portion of your Cash Advance Balance plus the Statement Balance Fee. The minimum Cash Advance varies by state. Please see Terms of Use, and Rates & Terms and Borrower Agreements for all terms, conditions and requirements.

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.

» MORE: Learn the risks of high-interest loans and compare alternatives

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.

» MORE: Best co-sign or joint personal 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 use NetCredit personal loans

NetCredit does not have any restrictions on how their personal loans are used.

You can use a NetCredit personal loan for:

• Debt consolidation.

• Credit card consolidation.

• Home improvement projects.

• Medical/dental expenses.

• Emergencies.

• Vacations.

• Weddings.

• Funerals.

• Business expenses.

• Education expenses.

• Auto/motorcycle/RV/boat financing.

• Other large purchases.

Do you qualify for a NetCredit personal loan?

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

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.” ^[0]

How we rate NetCredit

NerdWallet writers and editors rate lenders against a rubric that changes each year based on how personal loan products evolve. Here’s how we scored NetCredit this year: