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      July 4, 2020

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Credible vs NetCredit

Best Personal Loans

To help you find the Best Personal Loans, TopConsumerReviews.com provides you with an in-depth comparison of Credible and NetCredit.

To see ALL of our reviews for the Best Personal Loans, please Click Here

Are you in need of some cash? Historically, borrowers have had limited options for a personal loan. You could ask a family member, a friend, or find a personal finance company that offered fixed-rate loans, typically at exobrtantly high interest rates.

Today, however, finding a personal loan brings several more options to the table. While you can still ask a family member, or get a high-rate loan from a finance company, you can also consider using a social lending network. These networks, also called peer-to-peer loans, generally have much lower overhead and as a result can offer much lower interest rates. They're facilitated by professional companies familiar with this type of lending, to simplify things for all parties.

Continue reading below reviews

Best Reviews

2020

Personal Loan Reviews

4 stars
Credible

CREDIBLE

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Loan:

From $1,000 to $100,000

Getting a personal loan can be a hassle, but it doesn't have to be. Credible simplifies the process by giving you access to more than a dozen lenders with a single application. Since 2012, this service has connected consumers with the loans they need, with fully-vetted partners that meet the highest criteria for transparency and fairness. In fact, almost all of the lenders in Credible's network are included in our personal loan reviews.

Lender connections

So, to be clear, you can't get a personal loan from Credible. Instead, your application (which only takes 5 minutes or less to complete) is used to give you a results list of lenders that meet your needs, with loans ranging from $1000 to $100,000. During the application process, you'll provide critical details like your employment status and credit score range, educational background, and your Social Security number.

Soft credit pull

Credible performs a "soft pull" - which will not impact your credit score, as you may already know - and then matches you with lenders who are willing to give you a loan. It's up to you to determine which lender has the personal loan that is the best fit for your situation. Terms vary depending on which one you choose, but in general you can expect interest rates ranging from 5.99% up to 35.99%

Best Personal Loans

Best rate guarantee

One perk that Credible offers is a Best Rate Guarantee. If you find better rates with another lender and close on a personal loan with that provider, you could be eligible for a $200 payment from Credible! We recommend that you read the terms and conditions (by clicking on the Learn More button in the Best Rate Guarantee pop-out), because there are certain criteria that have to be met (like submitting your request within 7 days of closing on your personal loan with someone else).

Easy to use and reliable

We were very happy to see that Credible has a strong, positive reputation. They've earned an "A+" and accreditation from the BBB, and more than 3,000 customers have given this service a flawless 5-star rating. Compliments include praise for Credible's reliability and easy-to-use website.

Saves time

Credible saves you time with a one-application-fits-all process that sends your application to multiple lenders. Remember you'll still want to make sure that the lender you ultimately select is giving you a loan that you can pay back on time and with interest rates you can afford.

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3.5 stars
NetCredit

NET CREDIT

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Loan:

From $1,000 to $10,000

NetCredit is new to the personal loan business. This Chicago based company opened doors in 2012 and currently hold a strong A- Better Business Bureau rating. NetCredit offers unsecured personal loans between $1,000 and $10,000 to customers of all credit scores. The process of applying and obtaining a loan is completely online. There's no need to make an appointment and take time away from work just to fill out a loan application.

Simple application

NetCredit provides the funds for all of the personal loans issued from this company. The process is very simple:

  • Customers identify how much they'd like to borrow and for what purpose
  • Complete a quick and easy application that allows NetCredit to identify your name, your contact details, work history and more
  • Applicants can expect an immediate response upon submission of their application with the maximum loan amount and terms
  • The customer then identifies how much they would like to borrow and accepts the terms of the agreement
  • Loans are typically sent via direct deposit by the next business day unless documentation is required or questions still exist.

Loan rates vary

Interest rates are dependent on the loan size and your credit worthiness. Because of this, NetCredit does not publish their loan interest rates online. Loan payments back to NetCredit can be drawn automatically from your bank account and occur over time, based on the terms of the loan. Outside of interest, there are no associated fees with obtaining a loan at NetCredit. For those attempting to build back their credit, NetCredit does report payment history and activity to both Experian and TransUnion.

Just a few states

The biggest downside to working with NetCredit, at this time, is that they currently provide loans in only 13 states. While we believe they will be adding to the list over time, customers in states not supported by NetCredit will not be able to work with them until further expansion. However, if you are in a state that NetCredit does operate in, they offer a fast loan application and quick approval process. NetCredit is worth your consideration.

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Continued from above

No matter where you borrow money from, before you get your next personal loan you should consider the following:

  • BBB rating. Does the lending company have a solid history of doing good business with its customers?
  • Loan size and rate. How much will the lending company offer? What interest rate do they charge their customers?
  • Loan application process. When applying for your personal loan, can it be completed online? Is the lending process easy and straightforward?

TopConsumerReviews.com has reviewed and ranked the best online personal loan providers available today. We hope this information helps you find the best loan at an affordable rate that meets your needs!

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