Money Lion vs NetCredit
TopConsumerReviews.com is a world-leading consumer product review site. We provide detailed reviews and ratings for thousands of products and services.
Money Lion vs NetCredit
Disclosure: We are not compensated by companies for their reviews, but we may be compensated for links and advertisements on our website. Click here for details.
If you're looking for a personal loan, MoneyLion may have the solution you need. MoneyLion is Better Business Bureau accredited with an "A" rating and has been in business since 2014. Other products and services MoneyLion offers include credit monitoring, personal finance services and advice, points and rewards earned through being proactive about tracking your finances, and a mobile app to track your borrowing, savings, and investing activities.
To apply for a MoneyLion loan:
Joining MoneyLion via online registration is free. The cost of a loan is expressed in the loan interest rate. People having a credit score lower than 640 will expect to pay interest rates from 36% and up. People with credit scores 640 and up will pay interest rates between 7% and 36%.
Interest rates can further be reduced by up to 50% by adding "Boosts". Boosts are engagement from friends and family such as likes on photos you post to Facebook. We think this method of lowering interest rates will particularly apply to the younger set; most "traditional" lenders don't include social media engagement as a way of saving money!
The primary determination of your rate and loan amount comes from the following six criteria:
MoneyLion customer support is offered via an online search or a contact form.
Customers who like MoneyLion say that the loan process was fast and easy, the company is honest and up-front about loan terms, and that customer service is great. Of course, as with any business, there are bound to be complaints. We found that the primary complaints centered around issues with reward points, having to pay the interest in full before decreasing the principal, and "predatory" interest rates.
On the plus side, MoneyLion appears to respond regularly to negative reviews with offers to further assist dissatisfied customers. In the majority of cases where customers gave negative reviews, it appears the borrowers didn't take time to carefully read the loan's terms and understand how short-term, unsecured loans work in general.
Although they're newer to the Personal Loans marketplace, we like what MoneyLion has to offer and think they're a solid choice to consider for your lending needs.
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:
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.
To help you find the Best Personal Loans, TopConsumerReviews.com provides you with an in-depth comparison of Money Lion and NetCredit.
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.
No matter where you borrow money from, before you get your next personal loan you should consider the following:
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!
Personal Loans In The News
In today's reality where prices keep going up while paychecks stay the same, many people find themselves in need for a loan. In light of the high interest rates that banks and credit card companies attach to the loans they give their clients, people have ...
Published: Tue, 19 Jun 2018 13:33:00 GMT
Personal and financial information, including proof of income, employment information, banking and credit history, Social Security number and proof of residence. When refinancing a car loan or trading in a car with a loan on it, you'll also need your ...
Published: Tue, 19 Jun 2018 13:23:00 GMT
Several financial advisers advocate that those who are new to personal finance should set up automatic payments from direct deposit paychecks into separate bank accounts. The amount to deposit varies, depending on bills, rent, and student loan debt.
Published: Tue, 19 Jun 2018 13:10:00 GMT
Debra Chromy, president of an association of non-profit and state government servicers, the Education Finance Council, today pointed out five myth traps not to fall into about the aid they can give borrowers to help get out of student loan debt traps.
Published: Tue, 19 Jun 2018 12:19:00 GMT
Dar es Salaam - The share of personal loans to commercial banks' total credit to various economic activities is on the rise as lenders shift to salaried workers to increase their profits amid declining yields on government securities. The Bank of ...
Published: Tue, 29 May 2018 02:41:00 GMT
Personal loans can be a quick fix for people who need cash in a flash. But with the promises of a nearly instantaneous money infusion, people can be biting off more than they can chew and not even realize it until it is too late. According to www ...
Published: Fri, 20 Apr 2018 06:17:00 GMT
- View Full Site -
Reproduction in whole or in part in any form without the express written consent of TopConsumerReviews.com, LLC is strictly prohibited.