Jason Rathman
Written by Jason Rathman

Jason writes about all financial topics such as loans, debt solutions, and bankruptcy. He is an expert when it comes to subjects like APR, loan fine print, debt collection laws within the United States. With his in-depth knowledge of all things financial, he is a great asset to Greendayonline.

CashNetUSA, unlike other lenders, does not need you to have a good credit rating to borrow money. It provides small-dollar installment loans that can be paid back over half a year to two years. These loans are a specific type of loan designed for people with less-than-perfect credit scores.

However, CashNetUSA loans have exorbitant interest rates, sometimes reaching 805.28 percent. Although this lender can provide fast cash, be cautious about taking out a loan with high-interest rates.

A Quick Overview of CashNetUSA Installment Loans

In Oklahoma, New Mexico, Ohio, and Wisconsin, CashNetUSA offers small installment loans. CashNetUSA also offers payday loans, lines of credit, and other financial products in certain states. Remember that the loan interest rates may vary depending on the type of loan and your state.

When you submit the loan with CashNetUSAunlike, like most installment loan providers, your credit score must be checked. Instead, different credit-scoring methods are frequently used to determine whether you’re eligible to borrow. Borrowers who require immediate loans but need a stronger credit history of eligibility with another lender may benefit from this technique.

The disadvantage is that online payday loans like CashNetUSA loans have extremely high-interest rates, ranging from 85.00 percent to 805.28 percent APR. The high-interest rates on your loan can make it quite costly.

Obtaining a loan from CashNetUSA is advisable if you can repay it within the six to 24-month repayment period. Know your monthly installments before you borrow money from an online lender.


  • Quick approval: Loans may be approved on the same working day.
  • Equal Monthly payments: Installment loans feature monthly payments that are equal for longer than six months.
  • CashNetUSA accepts alternative credit: Your FICO score is not checked. People with weak credit files or less-than-perfect credit may be authorized for a loan through CashNetUSA’s alternative credit-scoring process. Remember to check CashNetUSA reviews to read about other customers’ experiences.


  • Interest rates in the triple digits: CashNetUSA installment loans include hefty interest rates. APRs running up to 805.28 percent are possible.
  • Installment loans are only offered in some states: Only New MexicoOhio, Oklahoma, and Wisconsin provide installment loans. CashNetUSA also offers various products in other states, such as payday loans or lines of credit.

Loan Requirements from CashNetUSA

Before applying for a loan with CashNetUSA, it’s essential to read and understand the loan agreement carefully. This document will provide all the necessary information about your loan, including terms, rates, and repayment schedules.

Unlike other lenders, CashNetUSA does not consider traditional creditworthiness indicators, such as those used to qualify for a regular personal loan. Instead, it considers other credit histories, like whether you settle your payments on time and have a consistent income, and involves an approval process.

  • Minimum credit score: According to the lender’s website, having less-than-perfect credit does not automatically prevent you from getting an installment loan.
  • There is no minimum credit history requirement.
  • Debt-to-income (DTI) ratio maximum: not stated.
  • Verifiable source of income: CashNetUSA requires applicants to provide proof of a steady income.

In addition to these requirements, CashNetUSA requires an active checking account.

What Kind of Person Is a Good Candidate for a CashNetUSA Installment Loan?

Most customers would not choose a credit from CashNetUSA because of the high-interest rates (often above 100% APR). That means you won’t be able to use credit cards, borrow money from friends or relatives, or even sell a few goods to make ends meet. When you don’t have any other options, a high-interest loan may be the best option.

However, there may be times when a high-interest loan is appropriate. You might take on the debt if you need to pay for prescription drugs or face eviction and have a huge check from your employment on the way. Even if your credit is bad, you can get a better deal on certain financial products.

What Customers Have to Say About CashNetUSA

Even though CashNetUSA offers high-interest loans, consumers have amazingly positive relations with the company. Reviewers praised the lender’s professionalism and ease of application throughout the loan procedure.

“The process was simple and easy,” Hemp from Houston stated. I strongly advise using this firm for your financial requirements, especially regarding loans to borrowers. [Excellent] service.”

“The process was so seamless [and] unfettered,” wrote Prentiss of Los Angeles. I couldn’t believe how simple that was. I’m so happy with CashnetUSA, one of the best loan companies, that I’ll use them again if I need them and tell my friends about them.”

Borrowers who believe they need financial help where few others are prepared to aid will be attracted to the company’s favorable customer service reviews.

Borrowers should still shop around for the best interest rates in the market on any credit they take out.

Applying for a CashNetUSA Installment Loan

The loan application with CashNetUSA is a simple online procedure. You’ll begin by filling out a personal profile with details such as your address, name, Social Security number, and date of birth. CashNetUSA will let you complete the application process once you’ve built a profile.

CashNetUSA may approve you immediately when you complete the online application or require evidence of sources of income, such as proof of income or other evidence. CashNetUSA will evaluate the approval decision after you have submitted the required papers. CashNetUSA can fund your loan on the same working day if you are authorized.

Alternative Loan Possibilities

Consider these other personal loan options before you apply for a CashNetUSA loan to see if you can get a better rate and a more suitable source of income.


  • Annual Percentage Rate (APR): 9.95%–35.99%
  • A minimum credit score of 600 is required.
  • Terms range from 24 to 60 months.
  • Up to 4.75 percent origination fee

Avant is a company to consider if you’re searching for a personal loan with affordable interest rates for poor credit scores. The majority of its consumers have credit ratings of 600 to 700.

Avant’s prices run from 9.95 percent to 35.99 percent APR, significantly cheaper than CashNetUSA’s. Still, you won’t qualify if you have subprime credit. Check with the lender to see if there are any minimum loan amounts.

OneMain Financial

  • Annual Percentage Rate (APR): 18.00%–35.99%
  • Credit score requirement: not provided
  • Terms range from 24 to 60 months.
  • Origination charge: 1% to 10% of your loan amount or a fixed fee ranging from $25 to 0, which will also depend on where you reside.

You can apply for a personal loan online with OneMain Financial. While borrowing from this company may take longer than from CashNetUSA, the cheaper interest rates will be worth it if you qualify. Still, you must meet with a loan counselor before receiving cash.


  • Annual Percentage Rate (APR): 9.99 percent–35.99 percent
  • Credit score requirement: not provided
  • Terms range from 24 to 60 months.
  • Origination charge ranges from 0.00% to 6.00%.

LendingPoint offered personal loans to individuals with low credit scores, starting from 585 as of 2019. While origination fees may rise to 6% and APRs can be as high as 35.99 percent, LendingPoint’s loans have a lower overall cost than CashNetUSA’s. You can acquire the money quickly if you are eligible. LendingPoint provides financing the next business day.

Personify Loan

  • Annual Percentage Rate (APR): 18.00 percent–35.99 percent
  • Credit score requirement: not provided
  • Terms range from 12 to 48 months.
  • Origination charge ranges from 0.00% to 5.00%

Personify loan offers a great alternative to Cashnet USA for those needing short-term access to capital. Personify is an online lending platform that provides Flex loans and lets customers borrow small sums of money ($500 – $2500) while making affordable, flexible payments on the loan. The application process is quick and straightforward; customers can set up payment plans according to their budget.

Unlike many lenders, Personify Loan shows customers their fee structure, including loan fees, before they sign up, which includes a fixed 10% origination fee and an APR range between 4.99 – 29%. Additionally, there are no hidden fees associated with the loans, so that customers won’t be hit with surprise expenses.

Personify Loan also goes beyond simple financing: part of their platform includes credit-building resources such as budgeting tools and automated savings plans so customers can build their credit score over time. In addition, Personify cooperates with credit bureaus to help borrowers improve their credit scores as they loan money and repay their loans. These features make Personify a great loan alternative for those looking for more than quick cash but who need to meet Cashnet USA’s qualification requirements.

Elastic Loans

Annual Percentage Rate (APR): The APR for Elastic Loan ranges from 36% to 299%, depending on various factors such as your creditworthiness, income, and other financial obligations.

Credit score requirement: Elastic Loan has no specific credit score requirement. However, your credit history and score will be considered when determining your eligibility and loan terms, meaning they may consult with credit bureaus to gather this information.

Terms range: Elastic Loan offers loan terms ranging from 6 to 24 months, allowing you to choose the repayment plan that suits your needs and budget. By offering various terms, Elastic Loan can better serve those who need to loan money for different durations.

With an Elastic line of credit, you can borrow up to $5000 and repay it in installments over 6 to 24 months. Plus, there are no prepayment penalties so you can pay off your loan early without extra charges. This flexibility makes it a great alternative to title and payday advance loans. The best part is that you get to choose the payment plan that suits your budget and needs.

When it comes to fees, Elastic Loan is transparent and upfront. A one-time origination fee ranges from 5% to 10% of the loan amount, depending on your state of residence. The APR ranges from 36% to 299%, depending on your creditworthiness and other factors.

Big Picture Loan

Big Picture Loans reviews have been largely positive. Customers appreciate the flexibility of repayment schedules, competitive interest rates, and the ease of application process. Many borrowers have praised the speed of service, with some receiving their loan within 1-2 days after applying. In particular, those with student loans found the company accommodating and understanding their specific needs. Borrowers also found customer service knowledgeable and helpful, especially when dealing with inquiries related to managing their student loans.

When looking at Big Picture Loans, it is reassuring to note that no hidden fees or charges are associated with their installment loan products. Also noted among many customers are comments about the website design’s convenience and customer service representatives’ general friendliness. Others commend Big Picture Loan’s commitment to responsible borrowing by offering budgeting advice and assistance through their financial education tools. Big Picture Loan demonstrates customer satisfaction regarding accessibility, transparency, and a strong commitment to responsible lending practices.

Amone Loans

  • Annual Percentage Rate (APR): 18.00 percent–35.99 percent
  • Credit score requirement: not provided
  • Loan terms range from 12 to 48 months.
  • Origination charge ranges from 0.00% to 5.00%.

AmOne personal loans is an online loan matching and personal finance resource service. The company helps individuals connect with lenders offering a variety of loans ranging from unsecured personal loans to secured business loans. AmOne offers its customers a flexible and convenient way to access the funds they need for their financial needs. It operates in multiple states, including Rhode Island and North Dakota.

AmOne’s process begins with customers filling out a short loan request form. AmOne evaluates customer credit and income information to match them with traditional banks or alternative lenders who can offer suitable loan options, including secured and unsecured personal loans. Customers are then presented with multiple loan options, which they can review before applying for the loan that best suits their needs.

American Web Cash Loans

  • Annual Percentage Rate (APR): 18.00 percent–35.99 percent
  •  Credit score requirement: not provided
  •  Loan terms range from 12 to 48 months
  •  Origination charge ranges from 0.00% to 5.00%

American Web Loans is an online loan provider specializing in fast and convenient loans for consumers who need cash quickly. It provides short-term loans, installment loans, and line of credit products. These loan products are designed to give customers the money they need so that they can take care of their financial obligations. The company also provides financial education services and credit counseling to help customers understand how to manage their debt responsibly.

Advance America

Advance America Reviews is a great alternative to CashNetUSA if you’re looking for a loan with fast approval and low rates. They offer personal loans up to $4,000, depending on the creditworthiness of their applicants. Plus, they’re among the few online lenders that provide payday loans with repayment terms as short as two weeks.

Advance America also offers installment loans and lines of credit to qualified borrowers in 44 states. These are tailored to the needs of customers with irregular income or who need cash on a short-term basis. The loan process is simple; once you complete an application form online or in-store, you have to wait just minutes for your funds.

Frequently Asked Questions

What are the pros and cons of CashNetUSA installment loans?

Pros include fast approval, direct deposit of funds, flexible loan terms, and lines of credit. Cons are high interest rates, fees, and accusations of predatory lending practices against CashNetUSA.

How does the interest rate for CashNetUSA installment loans compare to other lenders?

CashNetUSA’s installment loan interest rates are extremely high, ranging from about 200% to 700% APR when annualized. This far exceeds rates from traditional banks and credit unions.

Are CashNetUSA installment loans a safe and reputable option for borrowing money?

CashNetUSA is an established lender but their loans are considered high-risk due to excessive rates and debt cycle risks, making them less safe than options from credit unions.

What is the application process like for CashNetUSA installment loans?

Applying for a CashNetUSA loan involves an online application with personal, income, and banking details. If approved, funds can be directly deposited as soon as the next business day.

Can you share some customer experiences or testimonials about CashNetUSA installment loans?

Reviews praise the speed of receiving funds but many complain of difficulty cancelling automatic payments and the extremely high overall costs associated with the loans.

Jason Rathman

Jason Rathman


Jason writes about all financial topics such as loans, debt solutions, and bankruptcy. He is an expert when it comes to subjects like APR, loan fine print, debt collection laws within the United States. With his in-depth knowledge of all things financial, he is a great asset to Greendayonline.