NetCredit Personal Loans: 2024 Review

NetCredit vs. OppLoans

You can borrow as much as $10,000 compared to the $4,000 cap at OppLoans. APRs are much lower at NetCredit, maxing out at 99.99 percent compared to the 160 percent APR OppLoans offers. 

Opploans may be a better option if you only need a $500 loan — you’ll need to borrow at least $1,000 at NetCredit. If you need funds for an unexpected expense, Opp Loans may be worth a look — more than one-third of Bankrate users that choose to take out a loan with OppLoan use it to pay for emergencies.

NetCredit vs. OneMain Financial

NetCredit offers payoff periods as short as 6 months, much less than the 24 month minimum term offered by OneMain Financial. You can also borrow as little as $1,000 at NetCredit compared to the $1,500 minimum required by OneMain. 

OneMain’s APRs are between 18 percent and 35.99 percent which gives you substantial savings over NetCredit’s 34 percent to 99.99 percent range. You can also choose to add a co-signer to help you qualify for a OneMain loan, something that’s not permitted at NetCredit.

Do you qualify for a NetCredit personal loan? 

NetCredit requires proof of employment and regular income, and will pull a credit report to verify your credit history and credit score. The only other requirements required for a prequalification are proof of a valid checking account and email address. 

How to apply for a personal loan with NetCredit

• Get a quote: You can prequalify without hurting your credit score online. Customer service is available every day of the week to assist with this process. 
• Add information and finalize your application: You’ll need to document your employment and income to qualify for a NetCredit loan. 
• Review the loan details: Review the fees and APR before you sign to make sure you understand how your payment and fees will be calculated, especially if you choose the line of credit options. 

Methodology

Bankrate considers 20 factors when reviewing lenders. Credit requirements, APR ranges, fees, loan amounts and flexibility are all taken into account so that ratings are representative of how competitive lenders are for a wide range of credit profiles and budgets. The Bankrate Score for personal loans consists of four categories:

• Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
• Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
• Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
• Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also considered whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

What customers think

What people across the web are saying about NetCredit

With over 23,000 reviews on third-party site Trustpilot, NetCredit boasts an impressive 4.8-star average as of June 13, 2024. Many reviews praise the speed of funding. Others appreciated that the lender approved their application after other lenders denied them. Several mentioned that customer service quickly resolved issues, such as difficulties uploading documents. One reviewer said, in part:

"I followed the easy step-by-step instructions and I was approved the same day. Once I was approved NetCredit offered me more $$ than I wanted but I only borrowed what I needed. NetCredit gave me payment plan options. (I have never experienced that with other loan companies.) I chose the payment plan that was right for me."

— Trustpilot User

Most of the 4 percent of poor reviews were from borrowers who either didn’t meet the approval requirements or were upset with the high interest rates, although they are disclosed on NetCredit’s website. Of these poor reviews, NetCredit replied to 97 percent.

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