NetCredit vs Better Loans Mutual
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NetCredit vs Better Loans Mutual
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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.
Better Loans Mutual does not make personal loans directly. Rather, they connect borrowers with providers of auto loans. Most of the lenders who partner with Better Loans Mutual require that you:
The total amount of your loan can be no higher than $5,000, the smallest amount of any of the sources of personal loans in our review.
When we tried calling the provided toll-free number, the message said, "Thank you for calling the Cash Request Center", not Better Loans Mutual. After entering our zip code, we were asked to enter a four-digit number representing our year. No matter what we entered, with or without the pound sign, it would not accept our information and terminated the call.
We similarly found no customer reviews of Better Loans Mutual, and no evidence that the referral service they provide is useful or even trustworthy. You'll be more likely to get the cash you need through another personal loan service, so we suggest you consider one of the more reputable, established lenders in our review.
To help you find the Best Personal Loans, TopConsumerReviews.com provides you with an in-depth comparison of NetCredit and Better Loans Mutual.
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
Jordan Rothman is the founder of Student Debt Diaries, a personal finance website discussing how he paid off all $197,890.20 of his college and law school student loans over 46 months of his late 20s. You can reach him at Jordan@studentdebtdiaries.com.
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