CashNetUSA is an online payday lender that also offers installment loans and lines of credit. As an online-only direct lender, CashNet USA does not have any storefront locations, unlike Speedy Cash and Advance America. It offers loans in 38 states, but the types of loans, rates and fees vary from state-to-state. We recommend looking at CashNetUSA’s website to verify that they lend in your state and what rates they offer before applying.
Applying for an online payday loan is a relatively simple process. The requirements for CashNetUSA’s application include an active email address, a checking account, a driver’s license. To get a cash advance from this lender you’ll need to be a U.S citizen or permanent resident, be 18 years old and been employed for at least one month.
Once you apply you should receive an acceptance that same day. When you sign the contact you’ll receive your funds by direct deposit within on to two business days. In some states you can elect to receive a paper check and will have a grace period of one day to deposit it.
The usual term for an online payday loan is 14 days, but it can vary from between 8 to 31 days, depending on when you get paid. If you have trouble paying your loan, you can extend it through CashNetUSA’s online portal.
Once your loan term expires, CashNetUSA will debit your account for the amount you owe. We recommend having overdraft protection on your account so that if there isn’t enough money in your account when your payment comes due you won’t be hit with any additional charges from the lender.
CashNetUSA doesn’t run a traditional credit check when you apply for an online payday loan, but it does look at other aspects of your financial history when it makes its decisions. In addition to standard payday loan, CashNetUSA also offers installment loans and lines of credit. An installment loan is for a larger amount than a payday loan and has a longer term. You make monthly payments on an installment loan. A line of credit allows you to borrow against it as needed.
While a payday loan may seem like a good solution if you’re in a short-term financial bind, we recommend exploring alternatives before resorting to one. Finding someone to co-sign a loan with you or getting a personal loan from a credit union are two alternatives that are less costly in the long-run.
CashNetUSA is a direct lender of online payday loans that lends in 38 states. You can find detailed information about rates and terms at its website. In addition to payday loans it offers installment loans and lines of credit.