CashNetUSA

The Good

• Many kloan options to meet different borrower needs
• Customer service
• Same day lending decision

CashNetUSA offers payday loans, flex loans or lines of credit, installment loans, or brokered loans in some states where the company cannot lend money directly.   The signup process is very straightforward – you need an active email address, a checking account, a driver’s license.  They also ask for information like address and phone in order to validate your identity as the person you say you are.   While some of the approval requirements are flexible, the following must apply in order to be approved:

• be 18 years old or older
• have a regular source of income and make at least $1,000 per month
• be a U.S. citizen
• have a valid checking account

CashNetUSA’s services are available to customers in the following states:

• Alabama
• Alaska
• California
• Delaware
• Florida
• Hawaii
• Idaho
• Illinois
• Kansas
• Louisiana
• Maine
• Michigan
• Minnesota
• Mississippi
• Missouri
• Nevada
• New Mexico
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Rhode Island
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Virginia
• Washington
• Wisconsin
• Wyoming

They provide their customers with an online security center on the website detailing the protective measures. In addition, they inform their customers about how to detect fraud, protect their information and how to report fraud.

The Bad

• Could be more transparent on interest rates
• Negative BBB rating

Many customers claim that the terms and interest rates of their loans  are not fully disclosed  CashNetUSA is largely a payday loan company, so it should be accepted by any consumer that this is one of the absolutely highest interest rates that you will find.  If you have other options available to you, you should explore them.  But if you have bad credit, cannot qualify for other loans, and absolutely need cash now, they are a viable payday lending option.

CashNetUSA does have a negative Better Bureau Business (BBB) rating and there are other negative consumer reviews.  However, as one of the largest payday lenders (owned by Enova), CashNetUSA is one of the most likely to falsely represented by scammers.  Manyof the negative reviews and complaints of CashNetUSA are regarding the variety of scare tactics the scam artists have applied  taking place in their name.

The Summary

CashNetUSA is a short-term loan company that mainly issues payday loans. The interest rates are generally very high and vary widely from state to state, which is normal for short-term loan businesses.  Unlike other payday loan companies, they do have  an intuitive website and a fully staffed customer service center.

Just know that, as with any payday loan provider, the interest rate will be high and you should reveiw terms of the loan carefully.