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  NetCredit Personal Line of Credit

NetCredit Personal Line of Credit

in Personal Lines of Credit from Enova International

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NetCredit Personal Line of Credit

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in Personal Lines of Credit from Enova International

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Highlights
Highlights
Loan Amount $500 - $3,500
APR  (Fee-Based Product) 51.1% - 434.5%

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.

NetCredit Personal Line of Credit FAQ

What APRs does NetCredit Personal Line of Credit offer?

NetCredit Personal Line of Credit offers a fee-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). Depending on the amount borrowed and how long you take to repay, the estimated APR ranges from 51.1% APR up to 434.5% APR.

Does 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 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 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 line of at least $500 and as much as $3,500. .

NetCredit Personal Line of Credit Fees
Cash Advance Fee 10%
Origination Fee N/A
Prepayment Fee? No
Late Payment Fee N/A

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 3 business days .

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

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 can help improve your credit.

How to apply for NetCredit Personal Line of Credit

  • Visit the Enova International website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
  • Check the information is accurate and submit your application.
NetCredit Personal Line of Credit Disclosure: The NetCredit Personal Line of Credit does not charge a traditional periodic interest rate. Instead, customers are charged an Outstanding Balance Fee for each billing cycle in which they carry an Ending Principal Balance greater than $25. If you request a cash advance with the NetCredit Personal Line of Credit between 12 a.m. and 10:30 a.m. CT, you'll typically receive your money the same business day. Cash advance requests after 10:30 a.m. CT are typically funded the next business day. If you request funds over the weekend, you'll typically receive your money the following Monday. The outstanding balance fee you owe will vary based on the frequency with which you receive your income, your outstanding principal balance at the end of your billing period and any Fee Saver reductions accrued. If your outstanding principal balance at the end of your billing period is $25 or less, you will not incur an outstanding balance fee. Please see the Rates and Terms page on NetCredit Personal Line of Credit's website for more information. To be eligible for a NetCredit Personal Line of Credit, you must have a verifiable steady source of income. In most states the minimum age to be eligible is 18. In Alabama and Delaware the minimum age is 19.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   175 W. Jackson Blvd.
    Suite 1000
    Chicago, IL 60604
  •   Visit Site

Other Services by Enova International

Message From Enova International

NetCredit Line of Credit is a line of credit offered by NetCredit & Enova International, a direct lender based in Chicago, IL. Founded in 2009, Enova International helps hardworking people across the U.S. get access to fast, trustworthy credit.

Availability

  Available in 7 states
  • Alabama
  • Delaware
  • Idaho
  • Louisiana
  • North Dakota
  • Utah
  • Wisconsin

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
Cash Advance Fee (%) 10%
No Late Fees  
Outstanding Balance Fee $5 - $350
Checking Account Required  
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Verification Documents Required Proof of Identity
Credit Bureau Reporting
  • Experian
  • TransUnion
Funding Time Range 1 - 3 days
Payment Options
  • Bank Transfer
  • Check by mail
  • Credit/Debit Card
Pre-Approved Soft Credit Inquiry  
APR (Fee-Based Product) 51.1% - 434.5%
Loan Amount $500 - $3,500

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