NetCredit Personal Line of Credit Review

NetCredit Personal Line of Credit is offered by Enova International, a direct lender founded in 2009 and based in Chicago, IL. NetCredit Personal Line of Credit is available in 7 states across the USA.

What APRs does NetCredit Personal Line of Credit offer?

NetCredit Personal Line of Credit offers a fee or charge based product that ranges from 51.1% APR up to 434.5% APR.

Unlike most credit lines, which typically charge a simple daily interest rate, NetCredit Personal Line of Credit does not have a periodic interest rate. Instead, NetCredit Personal Line of Credit charges a fee when you take a cash advance, plus a fee each payment period based on your ending principal balance (inclusive of the cash advance fees). The equivalent APR will vary depending on the amount borrowed and how long you take to repay, starting at 51.1% APR up to 434.5% APR.

Does the NetCredit Personal Line of Credit charge an origination fee?

No, NetCredit Personal Line of Credit does not charge an origination fee.

An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

Does the NetCredit Personal Line of Credit charge a cash advance fee?

Yes, NetCredit Personal Line of Credit may charge a fee of 10% of the amount of each cash advance.

Does the NetCredit Personal Line of Credit charge a statement balance fee?

Yes, NetCredit Personal Line of Credit can charge a statement balance fee of $5 to $350 each billing cycle.

Does NetCredit Personal Line of Credit charge a late fee?

No, NetCredit Personal Line of Credit will not charge you a late fee.

How much can you borrow via NetCredit Personal Line of Credit?

Upon approval and based on your credit worthiness, your NetCredit Personal Line of Credit personal line of credit will be assigned a credit limit of at least $500 and as much as $4,500. .

NetCredit Personal Line of Credit Fees

Cash Advance Fee	10%
Origination Fee	No
Prepayment Fee?	No
Late Payment Fee	No
Statement Balance Fee	$5 - $350

What do you need to qualify for NetCredit Personal Line of Credit?

NetCredit Personal Line of Credit does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

NetCredit Personal Line of Credit does not have or does not disclose a minimum annual income eligibility requirement. NetCredit Personal Line of Credit will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the NetCredit Personal Line of Credit product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by NetCredit Personal Line of Credit. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Applicants must have an active and valid personal checking account
• Proof of identity

What is the estimated funding time for a personal line of credit via NetCredit Personal Line of Credit?

NetCredit Personal Line of Credit will typically provide a credit approval decision in less than an hour and fund the line of credit within 1 business day.

Does NetCredit Personal Line of Credit report your account activity to credit bureaus?

Yes, NetCredit Personal Line of Credit reports your account activity to the following credit reporting agencies:

• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for NetCredit Personal Line of Credit

• Visit the NetCredit Personal Line of Credit website.
• Fill in the application form. You will typically need to provide general information such as your name, address, email address, Social Security Number, source of income and employment, and checking account information.
• Check the information is accurate and submit your application.