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 origination fees, the fee is often deducted from the principal, so the borrower actually receives the principal minus 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. At NetCredit, our goal is to make sure you get the best loan offer we can provide, based on your financial and credit situation.

The interest rates for these credit 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). If you qualify for a loan through NetCredit, we’ll work to match you with our best possible loan offer based on your financial eligibility.

Personal loans are most often used to cover unexpected expenses, pay for large home or auto purchases, or to consolidate debt.

To determine how much you can borrow, fill out our 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 our 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 the loan 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.

In compliance with the Truth In Lending Act, you'll see your APR in your loan agreement, so you can review all your loan details before accepting the loan terms. If you qualify for a loan through NetCredit, we’ll work to match you with our best possible loan offer based on your financial eligibility.

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 only on the remaining unpaid principal amount. 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.

At NetCredit, we are committed to a clear and simple fee structure. That's why all personal loans through NetCredit use simple interest.

At NetCredit, we are committed to a clear and simple fee structure. You will not be charged any application, prepayment or non-sufficient funds fees. 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 issued. All fees applicable to your state are laid out in our Rates & Terms.

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.

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

NetCredit takes your digital security seriously. Our site has earned McAfee Secure and Norton Secured certifications, and our application uses 128-bit encryption to guard your personal data.

To make sure you're taking full advantage of our security measures, we recommend that you access our site using either Google Chrome or Safari and that you update your chosen browser to the latest version.

If you are using Google Chrome, please click here to download the latest version.

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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. For Arizona residents, personal loan amounts will be $10,500. In some states, you may be charged an origination fee for a personal loan, which will be deducted from your loan proceeds. 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 qualify for, just fill out our quick online form — it takes only minutes and won't affect your credit score.

At NetCredit, we will always look for the best offer available for you. Your eligibility will be determined by looking at your unique financial picture — not just your credit score. If eligible, we'll present you with the highest amount you qualify for, and if you're eligible for a personal loan, we'll ask you to 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 our Rates & Terms page.

NetCredit works hard to offer quick funding. Our 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

    If your application is approved between 12 a.m. and 10:30 a.m. CT, you'll typically receive your money the same business day. Applications approved after 10:30 a.m. CT are typically funded the next business day. If your application is approved over the weekend, you'll typically receive your money the following Monday.

  • 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.

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.

At NetCredit, we believe 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 our online form.

At NetCredit, we know that you're more than your credit score. That’s why we look at your broader financial picture — not just your credit score — to determine your eligibility.

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 positive 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 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.

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 the amount you owe; 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 your ACH payment before 1 p.m. ET on January 4. 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

    Debit 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

    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.

At NetCredit, we believe it should be easy to both borrow money online and to pay it back. 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 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 cancel 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.

    Extra payments help you repay faster, reducing the amount you will owe, but please keep in mind that they do not change or suspend your scheduled payments; you will still need to make your next scheduled payment.

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.

At NetCredit, we understand that financial situations change and that you may need more flexibility when borrowing money. We now offer two refinance options that will be made available to eligible current personal loan customers. If eligible, customers may choose to borrow more money or lower their payments.

Yes! This refinance option offers customers 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, Idaho, Missouri, New Mexico, North Dakota, South Dakota, Utah and Virginia.

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

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.

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 positive 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 positive 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 what steps to take to improve your score.

If you believe there is an error on your credit report regarding your NetCredit loan or line of credit, please contact us via email at support@netcredit.com. 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.

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, we will pull your credit report. 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, we will pull another credit report. 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, just 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 every little detail 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.