Frequently Asked Questions

Have a question? You may be able to find the answer below.

General Info

A personal loan is one way for an individual consumer to borrow money. Typically, the borrower receives a lump sum payment (the principal) from a lender and pays it back at a cost (interest rate plus any loan fees). For personal loans with an origination fee, the fee is often deducted from the principal loan amount, so the amount advanced to the borrower is the principal loan amount minus the origination fee. The borrower will typically repay the entire principal loan amount, which includes the origination fee. Payments are made in regular installments over the term of the loan. Many personal loans are unsecured loans, which means they do not require the consumer to pledge an asset (like a home or car title) as collateral.

Personal loans are typically structured as installment loans, which are paid off over a defined period of time. The loan amounts and terms can range broadly, depending on the state and the lender.

The interest rates for these personal loans are generally set by the lender and can vary depending on factors such as the borrower’s creditworthiness and the size and duration of the loan requested. Rates will usually be fixed for the life of the loan and calculated as an annual percentage rate (APR).

Personal loans are used mainly for personal, family or household purposes, such as to cover unexpected expenses, pay for large home or auto purchases, or to consolidate debt.

To determine how much you may be eligible to borrow, fill out a quick online form to check your eligibility or call one of our customer support representatives today for more information.

A line of credit is an open-end financial product that lets you borrow up to a predetermined credit limit and repay based on what you borrowed. As you repay, your credit becomes available again, letting you borrow as needed.

To determine whether you're eligible for a line of credit, fill out a quick online form or call one of our customer support representatives today for more information.

Most credit loans — such as a home mortgage, car loan or personal loan — will use an annual percentage rate (APR) to express the cost of credit for a whole year (the interest owed plus any additional fees). The APR is a standardized rate, allowing you to more easily compare costs across multiple loan options.

It is important to note that the APR is not always the same as the interest rate on the loan. There are many factors that can affect the cost of a loan, and the interest rate is just one of them. An APR considers a number of factors, including whether the rate is simple or compound interest, any additional loan fees or charges and the duration of the loan.

The interest rate on a loan — such as a home mortgage, car loan or personal loan — is the amount charged by a lender to borrow the money. When evaluating your loan options, be sure to note whether the rate is simple interest or compound interest. Simple interest is calculated on the principal amount of a loan. Compound interest adds any interest accrued to the principal. Both are legitimate practices, but loans with compound interest can be more expensive, so it’s important to know what you’re agreeing to before you sign anything.

The terms of your loan will have a clear and simple fee structure. That's why all personal installment loans through NetCredit use simple interest.

The terms of your installment loan will have a simple fee structure. You will not be charged any application, prepayment or non-sufficient funds fees by your lender. In some states, you may be charged a fee for late or missed payments. In some states, you may be charged an origination fee, which is a one-time, non-refundable fee that will be deducted from your loan proceeds. You are only charged an origination fee if your loan is approved and funded. All fees applicable to your state are laid out in our Rates & Terms.

Please note: this is an expensive form of credit. Other credit options may be less expensive.

NetCredit charges two types of fees on lines of credit: cash advance fees and outstanding balance fees. Cash advance fees are charged when you take a cash advance from your line of credit, and they're deducted from the amount of the advance. The outstanding balance fee is charged every billing period and is calculated based on the amount of principal you have outstanding at the end of the period.

For more information about the fees associated with a NetCredit line of credit, see our Rates & Terms.

In certain states, NetCredit has partnered with Republic Bank & Trust Company, Member FDIC, to offer personal loans. In these states, loans are underwritten by, approved by and made by Republic Bank & Trust Company. However, NetCredit will still service your loan, meaning you can continue to rely on our Customer Support team to answer any questions or assist you throughout the lifecycle of your loan. You will also have access to your loan through your online account with NetCredit.

Republic Bank & Trust Company, Member FDIC, offers loans in Alaska, Arkansas, Arizona, Washington DC, Florida, Hawaii, Indiana, Kansas, Kentucky, Michigan, Minnesota, Mississippi, Montana, Nebraska, New Jersey, Ohio, Oklahoma, Oregon, Rhode Island, Tennessee, Texas, Washington and Wyoming.

In Alabama, California, Delaware, Georgia, Idaho, Illinois, Louisiana, Missouri, North Dakota, New Mexico, South Carolina, South Dakota, Utah, Virginia and Wisconsin, installment loans will be offered by a member of the NetCredit family of companies.

Visit the Rates & Terms page to see what is available in your state.

NetCredit currently offers lines of credit in Alabama, Delaware, Idaho, Louisiana, North Dakota, Utah and Wisconsin and we plan to expand into more states in the near future.

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If you are not currently using Google Chrome or Safari, we recommend Google Chrome as the browser that is most secure and compatible with our site. You can click here to download the latest version of Google Chrome.

Application

Personal loans through NetCredit range from $1,000 to $10,000 and lines of credit range from $500 to $3,500, but your eligibility will depend on your state of residence and your creditworthiness. In some states, you may be charged an origination fee for a personal loan, which will be deducted from your loan amount prior to disbursement. To ensure you have enough funds to cover your expected expense(s), it is recommended that you borrow enough to cover any applicable origination fees as well. To see what you are eligible for, just fill out a quick online application — it takes only minutes and won't affect your credit score.

You will always receive the best NetCredit offer available for you. Your eligibility will be determined by looking at your unique financial picture — not just your credit score. If eligible, you'll be presented with the highest amount you qualify for, and if you're eligible for a personal loan, you can select the amount that's right for you. You can choose the highest qualifying loan amount or opt for a smaller loan amount. That's the power of the My RightFit™ tool!

For more information about the loan options in your state, visit the Rates & Terms page.

Quick funding is available for loans offered through NetCredit. A simple online application takes just minutes to fill out, and you'll receive an eligibility decision in seconds. If eligible, once you select and sign your agreement, you'll typically receive a final decision within the same business day. Depending on whether we need to verify additional information, it could take up to three business days.

  • Personal Loans

    Approved applications are typically funded the next business day. Applicants who submit an application before 7:00 a.m. CT Monday – Friday may receive their funds the same business day. Approval subject to additional verification. Failure to provide additional documentation promptly may delay funding.

  • Line of Credit

    If you request a cash advance 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.

Personal loan and line of credit approvals are subject to additional verification. Providing requested documentation in a timely manner may help prevent funding delays. Keep in mind that the exact funding time will depend on your bank. If there’s any delay, don’t hesitate to inquire with them.

Yes! Many personal loan lenders require you to "secure" your loan by providing them with your car or house title; if you happen to default on your loan, the lender can seize your car or home to offset your debt.

Access to credit should be straightforward and fair to all. You won't be asked to provide a home or car title as collateral for a personal loan through NetCredit when you fill out your online application.

You're more than your credit score. That's why your eligibility is determined by looking at your broader financial picture -- not just your credit score.

We also understand that increasing or protecting your score is important to you. That's why we know you'll love My ScoreSaver™ and My CreditBuilder!

My ScoreSaver™ ensures that checking your eligibility won't affect your credit score.

With My CreditBuilder, payment towards your personal loan or line of credit will be reported to TransUnion and Experian, two of the major credit bureaus. On-time payments may build credit history, helping you move forward.

And if you're looking for even more, we've gathered easy-to-understand explanations and helpful tips on credit scores and other financial topics in our blog!

The Military Lending Act (MLA) places restrictions on certain loan terms that creditors can offer active duty, active guard and reserve duty members of the military and their dependents (“Covered Borrowers”).

For additional information on the MLA, please click click here.

If you are a Covered Borrower, or if you have questions regarding whether the MLA applies to you or your loan, please contact our Customer Support.

Repayment

At NetCredit, we believe it's important to offer easy and convenient ways to pay back your loan or line of credit. We offer electronic fund transfer (EFT) as a recurring payment option so you never have to worry about forgetting a due date. When you apply for a personal loan or line of credit, you'll have the opportunity to select your preferred option. If you do not want to make payments by EFT, we also offer paper check as a repayment option. For one-time payments, we accept debit card, prepaid card, money order, MoneyGram and Western Union. Please review details about each payment method, including cutoff times below:

  • Electronic Fund Transfer (ACH Debits)

    This is the most popular repayment method for many customers. ACH stands for Automated Clearing House and is a form of electronic debit. We electronically debit your bank account for your regularly scheduled payment; debits are timed to coincide with your due dates. You must set up ACH or make changes to your ACH payment before 1 p.m. Eastern Time (ET) on the day before your payment due date. For example, if your payment is due on January 5, you must set up or make changes to your ACH payment before 1 p.m. ET on January 4. Payments scheduled to occur on a non-business day will be processed on the preceding business day. Typically, you will see the debit go through within two business days of your due date, but check with your financial institution for details on their ACH practices.

  • Debit Cards and Prepaid Cards

    Debit cards and prepaid cards are accepted for one-time payments. Debit card payments are accepted during our hours of operation (Monday – Friday 9 a.m. – 9 p.m. and Saturday – Sunday 10 a.m. – 6:30 p.m. ET) and will be credited and applied the same day. For example, if your payment is due on January 5, your debit card payment must be made on or before January 5 during the hours of operation.

  • Paper Check

    We must receive your paper check payment before each contractual due date. You will need to send a paper check payment to:

    NetCredit
    P.O. Box 206766
    Dallas, TX 75320-6766

    IMPORTANT: Account ID or Account Number and Customer Name must be included with payment. All payments received by 5 p.m. ET will be credited and applied to your loan the same day. Check payments received after 5 p.m. ET will be processed and applied the next business day. Please ensure NetCredit will receive your check before your scheduled due date.

    When you provide a check as payment, you authorize us either to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as a check transaction. When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day you make your payment, and you will not receive your check back from your financial institution. For inquiries, please call (877) 392-2014.

  • Other Repayment Methods

    You can always change your preferences during the life of your loan. Additional options include mailing us a money order, or sending us a MoneyGram or Western Union payment. Please send payments to:

    NetCredit
    P.O. Box 206766
    Dallas, TX 75320-6766

    IMPORTANT: Account ID or Account Number and Customer Name should be included with payment. All payments received by 5 p.m. ET will be credited and applied to your loan the same day. Payments received after 5 p.m. ET will be processed and applied the next business day. Please ensure NetCredit will receive your payment before your scheduled due date.

    Please note that these options are not recurring, so you will need to schedule your payment in advance of each contractual due date. Call us at (877) 392-2014 for more details on how to set up a payment.

Borrowing money online and paying it back should be easy. That’s why we offer flexible options to make a payment ahead of schedule or to pay off your personal loan or line of credit balance in full at any time. And what’s more, there are no penalties for any of these convenient options:

  1. Pay off in full

    You may choose to pay off your personal loan or line of credit balance in full at any time.

    • Please note that if you select this option for a personal loan and for any reason your payment does not clear, the interest on your loan will continue to accrue.
    • If you choose to pay off your line of credit balance and your payment does not clear, and you do not make another successful payment for at least the minimum payment amount specified on your periodic statement before the end of the billing period, payment of your minimum payment including your outstanding balance fee will still be required.
  2. Pay your full scheduled payment in advance of your scheduled due date

    If you are enrolled in an automated payment plan, no action is required to make your next payment (although you should always make sure your account has sufficient funds on your due dates). However, you may make your next payment early by choosing a date more than two business days prior to your scheduled due date. If your early payment clears, we will not debit your next scheduled payment (you will not be debited twice), and automated payments will resume on the following due date.

  3. Pay another amount

    You may choose to make a payment of any amount at any time:

    • If this amount is less than the amount due on your next payment, you will still owe the remainder on your due date.
    • If this amount is greater than the amount due on your next payment, the additional amount will be deducted from your outstanding principal and will lower the amount owed. The additional amount will not be credited to a future payment.
    • In order for your payment to apply to your upcoming installment, your payment must be submitted at least two business days before your due date.

    Extra payments help you repay faster, reducing the amount you will owe. Please keep in mind that they do not change or suspend your scheduled payments, and you will still need to make your next scheduled payment. After you pay any interest and fees, any additional amounts will go towards paying down the remaining loan principal, which might reduce the final payments in the loan schedule.

How your payment is applied is dependent upon whether you have authorized recurring electronic funds transfers (EFTs) as your primary form of payment, when you make your payment, and whether the payment will cover the full amount of your next installment or only a portion of the next installment. Please see below for an explanation of how your payment will be applied in the most common instances. If you have a question about how your payment will be applied in a scenario that is not listed below, please contact our Customer Support team at (877) 392-2014.


Have you authorized recurring EFT? When are you attempting to make a payment? How will your payment be applied?
Yes 2 or more business days before your installment due date Your payment will first go towards your next installment. If your payment is less than the installment, the remainder will be debited on the due date. If your payment is greater than the installment, the excess payment will be applied to fees, interest, and principal, in that order.
Yes 1 business day before your installment due date or on the installment due date Generally, your payment will not be applied to satisfy your installment due and instead will be applied to fees, interest and principal - in that order. Your regularly scheduled EFT payment may still be processed and applied to satisfy your installment due. In some instances, the scheduled recurring EFT may be cancelled and your payment will satisfy the installment due.
No Anytime Your payment will go towards satisfying your next installment. Any remaining amounts will still be due on your due date. Any excess payment will be applied to fees, interest, and principal, in that order.

If you know in advance that you will not be able to make an upcoming payment, the best thing to do is to call our Customer Support Team at (877) 392-2014. You may be eligible for a courtesy due date adjustment that will give you some extra time to save for your next payment.

If you have already defaulted on your payment, our Collections Team will try to help you set up a payment arrangement that fits your budget. Give them a call at (877) 392-2016 to find out what payment plans are available to help you get back on track.

Remember that any payment activity will be reported to credit bureaus. Read more to learn about how this might affect you.

Financial situations can change and you may need more flexibility when borrowing money. That's why personal loan customers in select states may be eligible for one or two refinance options. If eligible, customers may choose to borrow more money or lower their payments.

Eligible customers in the following states may be able to refinance: Alabama, California, Delaware, Georgia, Idaho, Missouri, New Mexico, North Dakota, South Carolina, South Dakota, Utah, Virginia and Wisconsin.

In certain states, eligible customers have the ability to reduce their contractual payment amounts by refinancing their existing personal loan balance into a brand new loan with a new contract and repayment schedule. Customers eligible for this option may be able to lower their payment by at least 15%!

Eligible customers in the following states may be able to lower their payment: Alabama, California, Delaware, Georgia, Idaho, Missouri, New Mexico, North Dakota, South Carolina, South Dakota, Utah, Virginia and Wisconsin.

Sign in to your account or call us at (877) 392-2014 to check if you're eligible.

In some states, customers who borrow less than their full approved amount or who have paid off a significant portion of their current personal loan may be eligible to top off their current loan amount with an additional disbursement amount. The existing loan balance along with the new disbursement will be refinanced into a brand new loan with a new contract and repayment schedule.

Eligible customers in the following states may be able to borrow more money: Alabama, California, Delaware, Georgia, Idaho, Missouri, New Mexico, North Dakota, South Carolina, South Dakota, Utah, Virginia and Wisconsin.

Sign in to your account or call us at (877) 392-2014 to check if you're eligible.

The Servicemembers Civil Relief Act (SCRA) provides certain protections and relief to eligible active duty servicemembers, their spouses and dependents.

For additional information on the SCRA, please click here.

If you are an active duty servicemember, or if you have questions regarding whether the SCRA applies to you or your loan, please contact our Customer Support.

Credit Reporting

Yes! We are committed to helping our customers build their credit history. We will report all payment activity to major credit bureaus. This means that full, on-time payments may help you build credit history! Learn more.

We will report all payment activity to major credit bureaus.

This means that full, on-time payments may help you build credit history!

On the flip side, late payments could hurt your credit score or damage your credit health. If you have any concerns about making your payments on time, the best thing to do is call our Customer Support Team at (877) 392-2014 as soon as possible before your due date. If you have questions about errors on your credit report, learn more here.

Check out our blog to learn more about how credit scores are calculated and find other financial advice.

If you believe there is an error on your credit report regarding your NetCredit loan or line of credit, please contact us at:

NetCredit
175 W. Jackson Blvd., Suite 1000
Chicago, IL 60604

Be sure to include copies of documents that support your position. We will investigate the issue and correct any information we find to be inaccurate.

If you prefer to contact us by email, you can also submit documents to support@netcredit.com with the subject line "Credit Reporting Error".

For more information on how to dispute errors on your credit report, visit http://www.consumer.ftc.gov/articles/0151-disputing-errors-credit-reports.

The first step in applying for a loan or line of credit is checking your eligibility. If you are eligible, you will receive an offer. In order to provide you with an offer, your credit report will be pulled. This soft inquiry will not be seen by third parties and will not impact your credit score.

If you accept your offer and submit the contract, another credit report will be pulled. This hard inquiry may be seen by third parties and may have an impact on your credit score for a period of time.

My Account

No worries! We’ll help you set a new password for your security. Here’s how:

  1. Click on Sign In in the top right corner of the site.
  2. Click on the "Forgot password?" link.
  3. Enter your email.
  4. Check your email for instructions on how to set a new password.

To change your password, just follow these simple steps:

  1. Sign In to your account using your current login and password.
  2. Click Menu > My Info > Personal Info.
  3. Click the "Edit" link for the information you want to update.
  4. Enter your current password and your new password and save your changes.

To change your phone number or home address, contact our team or follow these simple steps:

  1. Sign In to your account.
  2. Click Menu > My Info > Personal Info.
  3. Click the "Edit" link for the information you want to update.
  4. Enter your new information and save your changes.

To update your email address, please contact our team.

To update your employment information, just follow these simple steps:

  1. Sign In to your account.
  2. Click the Menu > My Info > Employment Info.
  3. Click the "Edit" link.
  4. Enter your new information and save your changes.

Yes, you can view details of your current loan if you want to. Just follow these simple steps:

  1. Sign In to your account.
  2. Click on the "My Account" tab followed by the "Loan Details" link.

You'll be greeted by a "Loan Details" section, where you'll be able to see your amount borrowed, your outstanding balance, your next due date and much more!

If you want to view the details of past loans, you can also access that information by clicking on the "Loan History" tab.