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      January 18, 2020

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LendingTree vs NetCredit

Best Personal Loans

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

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Best Reviews

2020

Personal Loan Reviews

5 stars
LendingTree

LENDINGTREE

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Loan:

From $1,000 to $50,000

TopConsumerReviews.com Best-In-Class Blue Ribbon Award LendingTree is an industry leader and one of the most recognized names in the personal loan market. They connect you with a wide range of potential lenders that can meet your financial needs on loans ranging from $1,000 to $50,000.

As a loan connection service rather than a direct money lender, the loan amounts and terms received through LendingTree vary with each individual lender. One big advantage of using LendingTree is the ability to review multiple lender's loan offers without having to disclose your personal information to those lenders. You only need to do that once you choose to apply with the lender that best fits your requirements.

As a side benefit, you can also use offers obtained from LendingTree to negotiate directly with the lenders themselves, to try and get an even better rate. LendingTree provides you with lender's direct contact information for that very purpose.

Applying for a loan with LendingTree is a very simple process, and takes only about a minute:

  • Select your loan purpose (such as Debt Consolidation, Vacation, or Medical Expenses)
  • Select how much money you'd like to borrow
  • Enter your Zip Code and Street Address
  • Select your type of residence (Home or Apartment)
  • Estimate your Credit Score
  • Enter your Birthdate
  • Enter your Employment Status and Annual Pre-Tax Income
  • Select whether you'll have a co-borrower or just yourself
  • Enter your Name, Phone Number, and Email Address

And that's it! LendingTree will then work with all their lending partners to find the loan offers that fit your specific criteria. Note that even if you have a low credit score, you may still receive offers, as LendingTree has several providers who work with borrowers with less-than-perfect credit.

Another good thing to remember is that entering your information with LendingTree to begin the loan process will not impact your credit report or your credit score. So you can use LendingTree's service risk-free.

With thousands of satisfied customers, a solid A+ rating from the Better Business Bureau (where they've been accredited for over 20 years), and their ability to connect borrowers with a wide range of potential lenders, LendingTree sets the standard when it comes to personal loans. They receive our highest rating.

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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.

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.

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.

The only 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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