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Where does NetCredit do business?
NetCredit is a direct lender based in Chicago, IL. Founded in 2012, NetCredit offers access to personal loans in 14 states across the USA.
What are the APRs offered via NetCredit?
NetCredit has a variable APR that ranges from 34% up to 150%.
Does NetCredit charge an origination fee?
No, NetCredit does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does NetCredit charge a late fee?
Yes, NetCredit may charge borrowers a late payment fee
Does NetCredit charge prepayment fees?
No, NetCredit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow via NetCredit?
Loan amounts start at $1,000 and go up to $10,000.
What is the maximum loan term you can get with NetCredit?
NetCredit offers personal loans with terms ranging from 6 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with NetCredit?
Applicants with a credit score of at least 500 can apply for a loan via NetCredit. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
To qualify for a NetCredit loan, applicants need a minimum annual income of $20,000 or higher.
Active duty servicemembers and their covered dependents are eligible to apply for a loan via NetCredit. Their rates fall within the limits of The Military Lending Act.Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
What is the estimated funding time for a personal loan via NetCredit?
NetCredit will typically approve (or deny) a loan application within 48 hours and fund personal loans within 3 business days of approval.
Does NetCredit report loan payments to credit bureaus?
NetCredit may report credit data to the following credit reporting agencies:
175 W. Jackson Blvd. Suite 1000
Chicago, IL 60604 USA
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- New Mexico
- North Dakota
- South Carolina
- South Dakota
- Active Duty Military
- Military Dependent
- 1099 Misc. Income
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
- Only Individual Applications
- Employed Full-Time
- Employed Part-Time
- U.S. Citizen
- U.S. Permanent Resident
- Proof of Income