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Cash Net USA Reviews

CashNetUSA is a licensed lender and has been offering friendly and quick online loans since 2003. Being one of the oldest, the company has a client base of over two million satisfied customers in the US. To people with low credit scores, the lender proves to be their instant solution. With a simplified and quick application, you’ll have the money for an emergency expense on time.


Founded in 2003, CashNetUSA is both one of the oldest and biggest payday lenders in the industry. It promises to offer a fast and easy application with an instant approval and make direct deposits into your bank account. They provide payday loans, lines of credit and installment loans. The company positions itself as an instant solution to people with poor credit and bad credit records. The company serves over 2 million customers in the US.

The company has an online platform that allows you to make an application in a few minutes. If you choose, you can apply through the phone but you will still be required to sign the contract electronically.

For the funds to be deposited in your account, you are required to provide a checking account. The account will also be used to repay the borrowed money in most instances.

The company doesn’t use credit scores to determine eligibility and they claim that they won’t check the scores. However, if you have a defaulted previous loan they can easily deny you the money.

Once the application is submitted, CashNetUSA reviews and gives you instant status feedback. If the loan is approved, you will receive the full amount in your account within 24 hours or the next business day. However, this will only hold true if the loan is approved by 9:00 PM CT. In some states, you may choose to receive the money through a paper check and they will give you a one-day grace period to deposit.

Normally, the payday loan term is 14 days but it’s not fixated at that because you can get a varied term that can be between 8 to 31 days. In a nutshell, the borrowed money is expected to be paid back in full on your next payday unless you genuinely need an extension. Also, note that extensions are not similar in all USA states.

To qualify for a loan, you’ll need to be a citizen of the US, be at least 18 years old, have a checking account and be employed for the last one month.

Here is what you’ll need to fill out on the application form:

  • Full names
  • Date of birth
  • Physical address
  • Valid email address
  • Your Phone number
  • Social security number
  • Employment details

The maximum money you are allowed to borrow will depend on your state and credit history on the site. Roughly, it will be between $250 and $1000. Some states don’t allow payday loans to be more than 20% of your monthly pay while some will put a ceiling at around $1500.

Consider checking your state’ allowed limits on the CashNetUSA website.

Flex loan

This is a kind of funding with flexible funding and several options for repayment. With the CashNetUSA flex loan, the application is made once but you are allowed to request for advances as many times as you want. However, you can only borrow up to your credit limit.

Once you get approved for any CashNetUSA loan, you can ask for cash advances as long as you have available credit. The credit limit is determined by the difference between the amount owed and the amount repaid. For instance; if you were approved to borrow $1000 and at the moment the total outstanding balance is $800, your credit limit will be $200.

To repay the loan, you are required to make a minimal after each billing cycle. The amount includes all the interest and fees for the cycle as well as 5% of the principal amount. To lower the cost of borrowing, you can make additional payments at any moment or pay in full without any penalties. Every repayment made will regenerate the available credit limit.

Installment loans

The installment loans are paid in amounts that are spread over a certain period of time which can be in months or years. You are required to pay part of the loan plus the interest in every billing cycle. One key advantage of these loans is that you can borrow more money that the normal payday loans.

Payday loans

The amount you can request to borrow will depend on state laws and it is due on the next payday. Otherwise, additional charges will apply.

The cost will vary according to your credit history, the amount borrowed and state of residence. Most states have their own rules and regulations governing payday loans. But you can expect to pay within this range:

  • The rates will be between $10 and $45 for every $100 you borrow.
  • The APR will range from 205% to 800%

Loans that are not paid in full by the due date will attract late fees. If the cause of late payment is insufficient funds, you will also pay an NSF charge and maybe a rollover charge.

After being in operations for more than a decade, the company is backed by an expansive track record. In addition, it is a branch of Cash America which is considered to be the largest payday chain worldwide.

  • They provide instant loan application decisions.
  • Access to several loan options with the flex loan being an attractive feature.
  • Upon approval, the money is deposited into your account fast.
  • The customer service is great and you can choose between chat, phone, and mail.
  • The rates are somewhat straight forward.
  • They support an easy repayment option.

CashNetUSA offers its service in the following states, Alabama, Alaska, California, Florida, Delaware, Idaho, Hawaii, Illinois, Oregon, Oklahoma, Rhodes Island, Kansas, Maine, Louisiana, Maryland, Minnesota, Michigan, Mississippi, Missouri, New Mexico, Nevada, North Dakota, South Carolina, Tennessee, Virginia, Utah, Washington, Wisconsin, and Wyoming.  It’s always prudent to understand the legal aspects of payday loans in your state of residence.

Borrowers can frequently access promotion discounts that ensure that you will save money and get the best deal. They are tailored to save money on the cost of financing but the effectiveness may be affected by your state of residence laws.

If a discount code is applied, a rebate equivalent to specified discount will be sent to your account. This will happen upon repaying the loan in full.

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