$1000 - $10,000
6 months - 5 years
34% to 155%
|Min Credit Score|
|Better Business Bureau Rating||A+|
|Time to Funding|
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.
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.
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.