Do you offer no credit check loans?
Your credit will be checked when you apply for a NetCredit personal loan or line of credit, but we understand that many people are worried about how their current score can affect their eligibility and how checking eligibility can affect their credit moving forward. That’s why NetCredit loans are designed to protect and build your credit.
Checking your eligibility doesn't affect your credit score.
When you complete your fast application, a wide range of data points is considered, including your credit score, to determine whether you're eligible. At this stage, a "soft pull" is made to view your score, which doesn't affect your credit score.
You're more than just a credit score.
Advanced analytics help make lending decisions based on more than just one number. By looking at factors other lenders might not consider, people with less than perfect credit are often eligible for a NetCredit loan.
You can build credit history.
When you have a NetCredit online loan or line of credit, your payment history is reported to major credit bureaus. That means full on-time payments may help you build credit history.
What We Offer
Depending on your application and the state where you live, you might qualify for one or both of our lending products. Head to the Rates & Terms for more details and to learn what is offered in your state.
How It Works
Check your eligibility.
See how much you can borrow in minutes with a secure application.
Review your offer.
Choose what you want and see if the available amounts and terms work for you.
Get your money.
If approved, requested funds are typically deposited the next business day or sooner.
Here's how a customer's credit could be affected with a NetCredit loan.
- Louise is looking for a way to get funds, but she's worried that her credit isn't good enough to get the amount she wants.
- She comes to NetCredit and sees that she can check her eligibility without affecting her credit score.
- She completes her application, and her credit history is reviewed through a soft pull, not affecting the score.
- She is happy with the amount and terms she is offered, so she signs her contract, allowing a hard pull. This hard pull has the potential to affect her score for a time.
- She gets her money and makes all of her repayments on time. NetCredit reports those on-time payments to major credit bureaus, helping Louise build credit history.
No credit check loans are funds issued by lenders that do not conduct a hard credit inquiry to review borrower’s credit history. Instead of pulling an applicant's credit report, no credit check lenders look at income, bank information and a range of other criteria. These loans can come in the form of installment loans, payday loans, lines of credit, personal loans or a variety of other lending products.
Borrowers typically seek out such loans on a short-term basis to meet a pressing need, frequently from online or storefront lenders.
The notion of a no credit check loan can be alluring to those who need a bit of quick cash. Perhaps they don’t want a credit inquiry to appear on their credit history, or they might think obtaining loans with no credit check is their only option.
The benefit of a no credit check loan to the consumer is often a fast and simple application process with funds made available either the same day or the next. The downside is that they can be costly to obtain, with fees and interest rates that add up quickly if the loan isn’t paid back on time.
Many lenders perform a soft credit inquiry before making their approval decisions. A soft credit inquiry (also called a soft credit pull or soft credit check) is a type of credit inquiry that does not affect a person’s credit score. Soft inquiries may or may not be recorded in a person’s credit report, depending on the credit bureau, and will not be visible to lenders.
Unlike a hard inquiry, a soft pull can happen without the borrower’s consent, as in the case of “preapproved” credit card and loan offers. As a result, credit-scoring systems like FICO do not take soft credit inquiries into consideration when calculating credit scores.
A hard inquiry is a credit check that is recorded on your credit report and can affect your score for up to two years. Several hard inquiries over a short period of time can indicate that you're looking to add more debt, which may make lenders view your application as higher risk.
When you check your eligibility, a soft pull is performed, which will not affect your credit score. If you're approved for an online loan and sign your contract, a hard credit inquiry will be made, which will be recorded on your credit report. This hard pull can temporarily affect your score, especially if multiple hard pulls are recorded over a short period of time.
As you repay your loan, NetCredit reports your payment activity to major credit bureaus. If you make all your payments on time, this can help you build credit history. On the other hand, missed payments are also reported, which could hurt your credit.