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Where does CashNetUSA do business?
CashNetUSA is a direct lender based in Chicago, IL. It was founded in 2005 and offers personal lines of credit in 4 states across the USA.
What are the APRs offered via CashNetUSA?
CashNetUSA offers a personal line of credit that ranges from 89% up to 449%.
Does CashNetUSA charge an origination fee?
Yes, CashNetUSA charges a line of credit origination fee.
Does CashNetUSA charge a cash advance fee?
Yes, CashNetUSA charges a fee.
Does CashNetUSA charge a late fee?
Yes, CashNetUSA may charge borrowers a late payment fee of up to $18, which is triggered if you're 10 days late.
Does CashNetUSA charge prepayment fees?
No, CashNetUSA does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit off and close the account.
How much can you borrow via CashNetUSA?
Personal lines of credit start at $300 and go up to $3,500.
What do you need to qualify for a line of credit with CashNetUSA?
Applicants with a credit score of at least 500 can apply for a line of credit via CashNetUSA. The minimum age to apply for a line of credit is 18 or the state minimum, whichever is higher.
CashNetUSA will also consider borrowers who are unemployed.
Active duty servicemembers and their covered dependents cannot apply for a line of credit via CashNetUSA. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
Only U.S. citizens and permanent residents can apply for a line of credit.
To qualify, applicants may need to provide the following documentation:
- Driver's license
- Applicants must have an active and valid checking account
- Proof of citizenship or residence permit
- Recent pay stubs
What is the estimated funding time for a personal line of credit via CashNetUSA?
CashNetUSA will typically approve (or deny) a line of credit application within 24 hours and fund personal lines of credit within 7 business days of approval.
Does CashNetUSA report payments to credit bureaus?
CashNetUSA may report credit data to the following credit reporting agencies:
- Alternative credit bureaus (not Transunion, Experian, or Equifax)
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time
- 1099 Misc. Income
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
- Individual Applications
- Recent Pay Stubs
- Driver License (or other photo ID)
- Proof of citizenship/residence (Green Card)