cashnetusa installment loans reviews

CashNetUSA, unlike other lenders, does not need you to have a good credit rating to borrow money. It provides small-dollar installment loans that can be paid back over half a year to two years.

However, CashNetUSA loans have exorbitant interest rates, sometimes reaching 805.28 percent. Although this lender can provide fast cash, be cautious about taking out a loan that comes with high-interest rates.

A quick overview of CashNetUSA installment loans

In Oklahoma, New Mexico, Ohio, and Wisconsin, CashNetUSA offers small installment loans. In certain other states, CashNetUSA also offers payday loans, lines of credit, and a few other financial products.

When you submit the loan application with CashNetUSA, unlike most other installment loan providers, your credit score is not checked. Instead, different credit-scoring methods are frequently used to determine whether you’re eligible to borrow. Borrowers who require immediate loans but do not have a strong credit history to be eligible with another lender may benefit from this technique.

The disadvantage is that CashNetUSA loans have extremely high-interest rates, ranging from 85.00 percent to 805.28 percent APR. The high-interest rates on your loan can make it quite costly.

It may not be advisable to obtain a loan from CashNetUSA if you are unable to repay it within the six to 24-month repayment period. Before you borrow money from an online lender, be sure you know what your monthly installments will be.


  • Quick approval: Loans may be approved on the same working day.
  • Equal Monthly payments: Installment loans feature monthly payments that are equal for longer than 6 months.
  • CashNetUSA accepts alternative credit: Your FICO score is not checked. People with weak credit files or less-than-perfect credit may be authorized for a loan through CashNetUSA’s alternative credit-scoring process.


  • Interest rates in the triple digits: CashNetUSA installment loans include hefty interest rates. APRs running up to 805.28 percent is possible.
  • Installment loans aren’t offered in every state: Only New Mexico, Ohio, Oklahoma, and Wisconsin provide installment loans. CashNetUSA also offers various products in other states, such as payday loans or lines of credit.

Loan requirements from CashNetUSA

Unlike other lenders, CashNetUSA does not consider traditional creditworthiness indicators, such as those used to qualify for a regular personal loan. Instead, it considers other credit histories, like whether you settle your payments on time and have a consistent income.

  • Minimum credit score: According to the lender’s website, having less-than-perfect credit does not automatically rule you out of getting an installment loan.
  • There is no minimum credit history requirement.
  • Debt-to-income (DTI) ratio maximum: not stated.

In addition to these requirements, CashNetUSA requires that you have an active checking account.

What kind of person is a good candidate for a CashNetUSA installment loan?

Most customers would not choose a credit from CashNetUSA because of the high-interest rates (often above 100% APR). When you don’t have any other options, a high-interest loan may be the best option. That means you won’t be able to use credit cards, borrow money from friends or relatives, or even sell a few goods to make ends meet.

However, there may be times when a high-interest loan is appropriate. You might choose to take on the debt if you need to pay for prescription drugs or facing eviction and have a huge check from your employment on the way. Even if your credit is bad, you may be able to get a better deal on certain financial products.

What customers have to say about CashNetUSA

Even though CashNetUSA offers high-interest loans, consumers have amazingly positive relations with the company. Reviewers praised the lender’s professionalism and ease of application throughout the loan procedure.

“The process was simple and easy,” Hemp from Houston stated. I strongly advise you to use this firm for your financial requirements. [Excellent] service.”

“The process was so seamless [and] unfettered,” wrote Prentiss of Los Angeles. I couldn’t believe how simple that was. I’m so happy with CashnetUSA that I’ll utilize them again if I need them and tell my friends about them.”

Borrowers who believe they need financial help where few others are prepared to aid will be attracted to the company’s largely favorable customer service reviews.

Borrowers should still shop around for the best interest rates in the market on any credit they take out.

Applying for a CashNetUSA installment loan

The loan application with CashNetUSA is a simple online procedure. You’ll begin by filling out a personal profile with details such as your address, name, Social Security number, and date of birth. CashNetUSA will let you complete the application process once you’ve built a profile.

CashNetUSA may approve you straight immediately when you complete the online application, or it may require evidence of income such as proof of income or other evidence. CashNetUSA will evaluate the approval decision after you have submitted the required papers. CashNetUSA can fund your loan on the same working day if you are authorized.

Alternative loan possibilities

Consider these other personal loan options before you apply for a CashNetUSA loan to see if you can get a better rate.


  • Annual Percentage Rate (APR): 9.95%–35.99%
  • A minimum credit score of 600 is required.
  • Terms range from 24 to 60 months.
  • Up to 4.75 percent origination fee

Avant is a company to consider if you’re searching for a personal loan with affordable interest rates for poor credit scores. The majority of its consumers have credit ratings of 600 to 700.

Avant’s prices run from 9.95 percent to 35.99 percent APR, which is significantly cheaper than CashNetUSA’s, but you won’t qualify if you have subprime credit. Check with the lender to see if there are any minimum loan amounts.

OneMain Financial

  • Annual Percentage Rate (APR): 18.00%–35.99%
  • Credit score requirement: not provided
  • Terms range from 24 to 60 months.
  • Origination charge: 1% to 10% of your loan amount, or a fixed fee ranging from $25 to 0. This will also depend on where you reside.

You can apply for a personal loan online with OneMain Financial, but you’ll need to meet with a loan counselor before receiving cash. While it may take a bit longer to borrow from this company than from CashNetUSA, the cheaper interest rates will be worth it in case you qualify.


  • Annual Percentage Rate (APR): 9.99 percent–35.99 percent
  • Credit score requirement: not provided
  • Terms range from 24 to 60 months.
  • Origination charge ranges from 0.00% to 6.00%.

LendingPoint offered personal loans to individuals with low credit scores starting from 585 as of 2019. While origination fees may rise to 6% and APRs can be as high as 35.99 percent, LendingPoint’s loans have a lower overall cost than CashNetUSA’s. You can acquire the money quickly if you are eligible. LendingPoint provides financing the next business day.

Latest posts by Jason Rathman (see all)

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *