Personal Loans

NetCredit Personal Loan Review 2023

NetCredit offers personal loans with predictable payments. Compare NetCredit loans with top lenders. Pros and cons to help decide if they're right for you.
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Written by:
Rebecca Lake
Edited by:
Kristin Marino verified
Editor's Rating

If you need money for an unexpected emergency or another expense, you might be thinking about getting a personal loan. If that’s the case, it’s vital to choose the right lender for your needs.

NetCredit is one option you might consider if you need a smaller personal loan. You can borrow up to $10,000 and choose a repayment term that aligns with your budget.

If you’d like to know more, this NetCredit personal loan review offers a closer look at how these loans work.

NetCredit Personal Loans At-a-Glance

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Compare NetCredit to Other Lenders

NetCredit is just one option for getting a personal loan. When you’re looking for loan options, it’s helpful to consider what other lenders bring to the table.


Achieve offers unsecured personal loans of up to $50,000, with same-day approval and fast loan funding. There are no prepayment penalties and these personal loans allow you to apply with a cosigner.

Read our full Achieve personal loan review

Best Egg

Best Egg offers larger personal loans, with maximum limits of $100,000. There are no prepayment penalties and co-borrowers are allowed. Loan term options are limited to three or five years.

Read our full Best Egg personal loan review


Upstart offers personal loans of up to $50,000, with no collateral required. Borrowers can choose from repayment terms of three or five years with no prepayment penalty. There is no option for co-borrowing with Upstart loans.

Read our full Upstart personal loan review

Compare these and other top personal loan lenders, including interest rates and fees, and see how they stack up.

Who Can Benefit From NetCredit

NetCredit personal loans may suit some borrowers better than others. In terms of who might consider a NetCredit loan, they could be a good fit for:

  • Borrowers with poor credit or lower credit scores
  • Borrowers who live in an eligible lending area

NetCredit makes loans in Alabama, Alaska, Arkansas, Arizona, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.

If you don’t live in one of those states you won’t be able to apply for or receive a NetCredit personal loan.

Who May Not Benefit From NetCredit

As mentioned, NetCredit may not be the right loan choice for everyone. You’ll need to find a different lender if you don’t live in a state where NetCredit makes loans.

Aside from that, you may want to compare other loan options if you have good to excellent credit.

A higher credit score can translate to lower interest rates on loans. It’s worth comparing rates elsewhere to see which lender might offer the least expensive loan.

What Is NetCredit?

NetCredit is an online lender that offers personal installment loans and lines of credit to eligible borrowers. All NetCredit loans and lines of credit are offered by a NetCredit family member company or a lending partner.

The company is headquartered in Chicago and has been in the lending business for nearly a decade. NetCredit loans are primarily designed for borrowers with poor credit or limited credit who need to borrow smaller amounts.

Thousands of people have used NetCredit loans to borrow money and build (or rebuild) credit.

How Does NetCredit Work?

NetCredit works by offering unsecured personal loans and lines of credit to eligible borrowers. It’s possible to borrow up to $10,000 with a personal loan or $4,500 with a line of certain.

Loan repayment terms range from six months to 60 months. NetCredit does give you some flexibility in choosing your loan repayment term, though the options available to you can depend on how much you borrow and where you live. Again, NetCredit only makes loans in certain states.

How Much Does a NetCredit Personal Loan Cost?

The exact interest rate you’ll pay can vary, depending on your credit history. There’s also a maximum APR that can apply in each state.

Since NetCredit personal loans are geared toward people with poor credit, the interest rates are higher than what you might find at other lenders. That’s important to keep in mind if you’re hoping to get the lowest rate possible for your credit file.

NetCredit also charges origination fees for loans. This is a fee you pay to have them underwrite the loan. The fee amount will vary by state. You can also be charged a late fee if you miss your payment due date. However, you might be able to adjust your due date to avoid a fee by contacting NetCredit.

There’s also an online resource library that you can browse for articles on how to improve your credit. That’s a plus if you’re working on building or rebuilding your credit scores.

How to Get Started

You can apply for NetCredit personal loans online. If you’d like to check your rates first, you can do that without impacting your credit scores.

NetCredit needs some basic information to process your loan application, including your:

  • Name
  • Address
  • Phone number
  • Date of birth
  • Social Security number

You’ll also need to tell NetCredit how much you want to borrow and what you plan to use the money for. Some of the things you could use a NetCredit loan for include moving expenses, debt consolidation, and getting caught up with monthly bills.

Once you submit your application, NetCredit will review it and you might get a decision as soon as the same day. If you’re approved for a NetCredit loan you’ll just need to share your bank account information so your funds can be deposited. It’s possible to get funding as soon as the next business day after approval.

Rating the Features

Any time you’re looking at personal loan options it’s helpful to compare the features and benefits. To round out this NetCredit personal loan review, here’s more on how the features measure up.

User Experience

Getting quotes or applying for a NetCredit personal loan is pretty straightforward. You can check your rates without dinging your credit score and the entire application process can be completed online.

There’s a lengthy FAQ section if you have questions, and if you need help with an application, you can reach customer support by phone.

Fees and Rates

While NetCredit doesn’t charge a prepayment penalty for personal loans, you will pay an origination fee. That can add to your total cost of borrowing, as can late fees if you pay late.

As mentioned, the interest rates are higher than what you’ll find at other lenders. Again, that’s because NetCredit primarily offers loans to borrowers with poor credit. Getting a quote upfront can help you decide if the rate is in line with what you want to pay or if you might be able to get a lower rate elsewhere.


NetCredit is fairly transparent with regard to how their loans work, how much you can borrow, and how to apply. However, you won’t see rates or fees listed on the home page of the website. You’ll need to get a quote first to see what you might pay.

That might be a drawback if you don’t want to share any information to see NetCredit’s rates.


NetCredit allows you to choose from a range of loan terms based on how much you borrow and where you live. You also have flexibility with regard to how you can use your loan funds.

However, you can’t apply for NetCredit loans with a cosigner or co-borrower. That may be a disadvantage if you were hoping to take out a joint loan with someone else.

Customer Support

You can manage your NetCredit account online, though there is no mobile app available at this time. If you need help you can reach out to customer support via email or by phone at (877) 392-2014.

Pros and Cons of NetCredit Personal Loans

The biggest downsides are arguably the lower loan limits and the interest rates. If you need money for a larger purchase or a major home repair, for example, then a NetCredit loan might not be sufficient. And again, if you have a good credit score you might be able to find lower loan rates with a different lender.

Frequently Asked Questions (FAQs)

Do NetCredit personal loans require collateral?

No, NetCredit personal loans are unsecured. You don’t need any type of collateral to borrow.

What’s the difference between a loan and a line of credit?

A personal loan lets you borrow a lump sum of money that you can use for virtually any purpose. You then pay it back, along with interest and applicable fees. A line of credit is a revolving credit line that you can draw against as needed. You only pay interest on the part of your credit line that you use.

Can I get a NetCredit personal loan with a cosigner?

NetCredit personal loans do not allow a cosigner. However, anyone who’s 18 and up can apply for a loan. If you need a cosigned loan, you may want to consider other lending options.

Bottom Line

NetCredit is one possibility you might consider if you need a personal loan. Before applying, consider how much you need to borrow and what kind of interest rates you may qualify for with NetCredit or other lenders. If you decide to get a rate quote, you may want to calculate the total amount you’ll pay in interest so you can better understand your cost of borrowing.