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CashNetUSA Installment Loan Review

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A CashNetUSA installment loan might be best for borrowers with lower credit scores who prefer to make equal monthly payments. For example, if you’re a few hundred dollars short for rent, or you’re at risk of having the electricity cut from your home, and your credit is suffering, you might consider a loan for bad credit borrowers. This review focuses primarily on the CashNetUSA installment loan.

CashNetUSA installment loan highlights

  • Borrow as little as $300: CashNetUSA offers installment loans for as little as $300. If you just need a little boost, the loan could work out.
  • Terms from 6 to 24 months: Borrowers may pay off their loan in as little as six months depending on the state you live.
  • Interest rates as high as 449%: Loans from CashNetUSA are expensive. The installment loans have rates ranging from 129.00% all the way to 449.00%. Be careful when borrowing from this company.
  • Same day funding: Qualified borrowers may get their loans funded the same business day that they are approved.
  • Alternative credit scores: CashNetUSA doesn’t check your credit score when you apply for a loan. Instead, it uses alternative credit scoring models, and your income to decide whether you’re eligible to borrow.
  • Limited availability: CashNetUSA only offers its installment loan in Delaware, New Mexico and Wisconsin.

CashNetUSA at a glance

  • APR range: 129.00% – 449.00%
  • Minimum credit score: Not specified
  • Terms: 6 to 24 months
  • Origination fee: Not specified

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Terms Fees and penalties
  • Terms: 6 to 24 months
  • APR: 129.00% – 449.00%
  • Loan amounts: $300 – $3,500
  • Time to funding: Same business day
  • Credit check: Soft Pull
  • Origination fee: Not specified
  • Prepayment fee: None
  • Late payment fee: Lesser of $10 or 5% of your payment
  • Other fees: None

Eligibility requirements

  • Minimum credit score: Less-than-perfect credit won’t necessarily disqualify you for an installment loan, according to the lender website.
  • Minimum credit history: Not specified.
  • Maximum debt-to-income ratio: Not specified.

Unlike most lenders, CashNetUSA doesn’t look at typical markers of creditworthiness, which is what you’d find when trying to qualify for a traditional personal loan. Instead, it looks at alternative credit histories – such as whether you pay your bills on time – and whether you have a stable income. In addition to those factors, CashNetUSA needs you to have an open checking account.

What borrowers are saying about CashNetUSA

CashNetUSA offers high interest loans, but borrowers have overwhelmingly positive experiences with the lender. Reviewers mentioned the easy application process and professionalism of the lender throughout the borrowing process.

Anastasia from Hartsville, S.C., wrote, “The entire experience was easy. And it will be a pleasure continuing business with you. You help[ed] my family in a jam.” When you need money quickly, you want to work with a lender who understands your needs, and can move you through the process without undue hassle.

Thomas of Nashville, Tenn. wrote, “[The customer service representatives] were patient and professional and kind and they stay[ed] with me and supported me the whole throughout the process.” The company’s mostly positive reviews for customer service will be appealing to borrowers who may feel that they are in a financial situation where few others are willing to help.

However, borrowers should still try to compare interest rates, and get the best rates and terms on any loan.

Applying for an installment loan from CashNetUSA

Applying for a loan from CashNetUSA is a straightforward, online process. You’ll start by creating a personal profile which includes information like your name, address, date of birth and Social Security number. Once you’ve created a profile, CashNetUSA will allow you to complete an online application.

After you’ve filled out the online application, CashNetUSA may approve you right away, or it may request proof of income through pay stubs or other documentation. Once you’ve provided the necessary documentation, CashNetUSA will make the approval decision. If approved, CashNetUSA can initiate the loan funding on the same business day.

Pros Cons
  • Fast funding: Loans may be funded the same business day.
  • Equal monthly payments: Installment loans have equal monthly payments over a period of six or more months.
  • Alternative credit accepted: CashNetUSA doesn’t check your FICO credit score. CashNetUSA uses an alternative credit scoring mechanism, so people with thin credit files or less than perfect credit may be approved for a loan.
  • Triple-digit interest rates: CashNetUSA installment loans are high interest loans. Rates can be as high as 449% APR.
  • Installment loans are not available in all states: Installment loans are only available in Delaware, New Mexico and Wisconsin. In all other states, CashNetUSA only offers line of credit or payday loan options.

Who’s the best fit for a CashNetUSA installment loan?

With typical interest rates in excess of 100% APR, a loan from CashNetUSA is not a top choice for most borrowers. The time to consider a high-interest installment loan is when you don’t have any other alternatives to a loan. That means, you don’t have access to credit cards, loans from friends or family or even the ability to sell a few items to get cash to fill the gap.

However, there could be circumstances where a high-interest loan may make sense. For example, if you’re facing eviction or need to pay for prescription medication, and you have a large check from your employer on its way, you may opt to take on the debt. That said, even if you have bad credit, you may qualify for a better rate on other financial products.

Alternative loan options


  • APR: 9.95% – 35.99%
  • Minimum credit score: 580
  • Terms: 24 to 60 months
  • Origination fee: Up to 4.75%

If you’re looking for a personal loan with modest interest rates for people with imperfect credit, Avant is a company to consider. Most of its borrowers have credit scores between 600 and 700.

Avant’s rates range from 9.95% APR to 35.99% APR, far lower than the rates offered by CashNetUSA, but you may not qualify with subprime credit. Further, you’ll need to borrow a minimum of $2,000 from the lender.

OneMain Financial

  • APR: 18.00% – 35.99%
  • Minimum credit score: Not specified
  • Terms: 24 to 60 months
  • Origination fee: 1.00% - 10.00%

With OneMain Financial, you can start a personal loan application online, but before getting funding, you’ll have to meet with a loan specialist. While borrowing from this company may take a little longer than borrowing from CashNetUSA, the lower interest rates may be worth it, if you qualify.


  • APR: 9.99% – 35.99%
  • Minimum credit score: 585
  • Terms: 24 to 60 months
  • Origination fee: 0.00% - 6.00%

LendingPoint offers personal loans to borrowers with credit scores as low as 585. While the origination fees can be as high as 6% and the APRs can be as high as 35.99%, the overall cost of LendingPoint’s loans are lower than CashNetUSA’s. And if you qualify for a loan, you can get the money fast. LendingPoint offers next business day funding.


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