NetCredit Bad Credit Loan Review

NetCredit focuses on offering unsecured personal loans up to $10,000. They’re an online lender that has been providing loans to those that are often overlooked by traditional lenders since 2012. Their loans are provided over short terms, ranging from 6 months to 5 years, although this varies by state.

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    The business is a subsidiary of Enova International, a financial technology company with headquarters in Chicago, that is listed on the New York Stock Exchange. They have earnt a positive reputation with customers improving in their ratings over the last few years. With nearly 2000 reviews on Trustpilot, NetCredit scores 4.3 out of 5.

    The entire loan application process is completed online and works in favor of those who might not necessarily have the best credit score, as NetCredit looks at your bigger financial picture rather than just your previous credit history. Loans are processed quickly, and often you can receive the funds in your account the next business day.

    What we want you to know about NetCredit:

    • Offers loans to borrowers that might not be successful with traditional lenders
    • Reports to credit bureaus so could help to improve your credit score
    • No prepayment penalties

    NetCredit Financial Terms in a Glimpse

    Loan Amounts
    $1000 - $10,000
    Term Length
    6 months - 5 years
    Loan Rates
    34% to 155%
    Min Credit Score
    No Minimum
    Better Business Bureau RatingA+
    Time to Funding
    1 - 3 Business Days

    NetCredit Highlights

    Here are some more details about NetCredit that we found useful when determining whether they can provide a loan that suited our needs.

    Pre-qualify With Soft Credit Pull

    You can use their online tool to check your eligibility for a loan. This is done through a soft credit pull, meaning it won’t affect your credit score as the query isn’t listed on your credit report.

    You’ll need to fill out some basic information including your name and date of birth, email address, home address, the amount you want to borrow, the purpose of the loan, and your status as a homeowner or renter. If you are preapproved, you can complete an application with more details.

    High Debt to Income Ratio Allowed

    You need to have a verifiable source of income to be offered a loan from NetCredit. However, since they consider your whole financial picture based on a large number of factors, NetCredit does not publish what is an acceptable debt to income ratio when it comes to eligibility for their loans.

    Line of Credit

    You can also get a personal line of credit from NetCredit. It is on offer in certain states so at the moment residents of Alabama, Delaware, Idaho, North Dakota, Utah, and Wisconsin can apply. The limits range from $1,100 to $3,500.

    Credit Health Tools

    There are several resources available to borrowers, which we found helpful when it came to understanding and improving credit health. Since NetCredit lends to borrowers with poor credit, they want their customers to understand their finances better .

    There is the My ScoreSaver page, which helps you check your eligibility without impacting your credit. You can customize your loan amount using the My RightFit tool, which lets you adjust the monthly payment and repayment term to find the right balance.

    There is a financial education page that offers information about credit scores, savings accounts, and tools for budgeting. The ClearCost for Me Promise and the My Choice Guarantee are there to reassure customers, indicating that there won’t be hidden fees and that you can still change your mind the day after your loan has been agreed.

    NetCredit reports to two major credit bureaus, Experian and TransUnion. This means that you can improve your credit score when taking out a loan with this company if you make regular payments on time.

    Hardship Programs

    NetCredit doesn’t operate any specific hardship programs, but they like to treat all customers according to their circumstances. If there are issues, such as an entitlement to relief under the SCRA or Servicemembers Civil Relief Act, you can get in touch with their customer support.

    If you know in advance that you won’t be able to make your next payment, you can contact customer support. They will discuss your situation and let you know if you are eligible for a courtesy due date adjustment, which will give you more time to put together the money for the payment.

    No Prepayment Penalty

    NetCredit is flexible when it comes to prepayment. There are several different ways to change your payment schedule, and there aren’t any penalties for doing so. You can pay off your loan in full, make your scheduled payment early, or pay an amount that is greater than your scheduled payment.

    Unsecured Loans

    The loans that NetCredit provides are unsecured. This means that you won’t need to provide collateral. Many lenders ask for your home or car title, which they can seize to offset a debt if you default on a loan. This is not the case with NetCredit.

    NetCredit Fees

    We found the fee structure at NetCredit simple to understand. They don’t charge fees for an application, for prepayment, or non-sufficient funds. Some fees vary by state, and in certain areas there might be charges for late or missed payments, other states include an origination fee when your loan is issued. For example, in California, you may be charged a late fee of $15 if you fail to make the full scheduled payment within 15 days of the due date.


    Since NetCredit looks at the big picture, your personal finances will dictate whether you qualify for a loan or credit line. You will need to meet the eligibility criteria, which means having a steady source of income and being able to prove it, and being able to verify your identity and your residence status.

    Credit Score and Other Data

    There isn't a minimum credit score that NetCredit publishes as acceptable for their loans. There isn't a minimum annual income stated by NetCredit either. This is because they don't want to exclude borrowers. There might be other factors working in your favor, which means that a lower income is balanced out.

    NetCredit may also look at your monthly free cash flow, which means payments coming in and going out. This amount is not specified, so there isn't a minimum cash flow that you need to have to be eligible as it is taken into consideration with the rest of your financial information.

    Your debt to income ratio will likely be considered by NetCredit when looking to approve your loan or line of credit. However, NetCredit has not set a maximum ratio for debt to income, again as it doesn't want to exclude borrowers.

    There is, of course, a consequence of not setting minimum credit scores minimum annual income and not having a maximum debt-to-income ratio. Although borrowers with a loan from NetCredit might improve their credit score, they might find that the APRs are higher than with traditional lenders.


    NetCredit doesn’t provide the option of having a cosigner for their personal loans. That means if you are looking to improve your loan rates with the support of someone with better credit, you will need to look elsewhere.


    Borrowers in 15 different states can apply for a personal loan, and some can apply for a line of credit, too. Check the NetCredit website for the full details of what is available in your area.

    General Conditions

    You need to be a United States resident with proof of address in one of the states above. Applicants need to be 18 or older, and in Alabama and Delaware, you need to be 19 or above. Another condition of application is that you will need a personal checking account.

    Since the application is completed online, you will need an active email address. Applicants will need to have a verifiable source of income; you will be asked for proof, such as payslips.