Exploring Short-Term and Payday Loans


If you’re seeking money quickly, CashNetUSA may be a viable option for you, but with so many online lending options, how do you know which is right for you?

With this review, it’s not only our goal to introduce you to what CashNetUSA does for customers but to also provide an accurate overview of the company, the terms, and any other pertinent information you may need in deciding to use the company as a net payday advance, installment loan or line of credit solution.

CashNetUSA loans are designed to provide fast, short-term solutions to various cash emergencies that can happen to anyone. Some of the reasons you may need a loan of this type include:

  • Emergency medical bills
  • Unexpected home or auto repair costs
  • Not have enough cash on hand to cover day-to-day living costs, such as rent, food or utilities
  • An overdrawn checking account which can quickly lead to the accruement of high daily fees
  • A family emergency such as a death
  • Unforeseen travel expenses

These are just a few of the many reasons where you may find that you need a payday or installment loan from sites like CashNetUSA, but how do you know which option is best for you and also whether or not it’s a reputable company?

With a bit of research and the use of in-depth guides like this one, you can find out what you need to know so you’ll be sure you’re making the best possible financial decision, regardless of why you’re seeking a short-term loan.



What Is CashNetUSA?

CashNetUSA is an online loan provider offering lines of credit, traditional payday loans, and installment loans to residents in some states. These short-term, small-principal loans are designed to be repaid relatively quickly, and CashNetUSA does provide loans to borrowers who have less-than-perfect credit.

The company is part of Enova International, which is publically traded on the NYSE and also owns a number of reputable global financial service companies, including NetCredit, Headway Capital, Pounds to Pocket, and On Stride Financial.

CashNetUSA provides loans to residents of 30 states in the U.S., and more than two million customers have selected the company as their short-term lender.

The reason CashNetUSA is such a popular option among borrowers from all backgrounds, aside from the fact that it lends to people who don’t have perfect credit, is due to its quick and secure online application process, with a minimal amount of personal information required to complete the 5-minute application process.

Image Source: CashNetUSA Review

You’ll receive an instant decision in your email inbox, so you’ll know right away whether or not you’ve been approved.

If you’re approved to receive a CashNetUSA line of credit or other type of short-term loan, according to the company, you’ll receive funding on the next business day if your application is received and approved before 9 pm CT. 

If you get approval after 9 pm CT, your loan may be funded as early as two days later. For example, if you receive approval before 9 pm on a Monday, you could receive funding on Tuesday.

If CashNetUSA approves you after 9 pm, your short-term loan could be funded by Wednesday.



The Flex Loan Process

CashNetUSA offers customers what they call the Flex Loan. A Flex Loan features flexible funding along with more repayment options than what you’ll find with many other short-term credit providers. The Flex Loan process is one of the features that makes CashNetUSA a standout for borrowers.

With a Flex Loan, you only need to apply one time, and you can then request cash advances as frequently as you require them – up to your available credit limit. Once customers receive approval for CashNetUSA installment loans or other types of loans offered by the company, requesting money is as simple as logging onto your account. As long as you have available credit, you can request as many cash advances as you choose, with deposits made directly into your checking account the next day.

Requirements to apply for CashNetUSA loans are:

  • You must have an active checking account, which is used as a simple way to fund your loan.
  • You need to have been employed for at least a month.
  • You must be a U.S. citizen or permanent resident.
  • You must be at least 18 years old.

Other things to know about Flex Loans:

  • Once you receive approval from CashNetUSA, you’ll receive information about your available credit limit. Credit limits may increase if you have a strong repayment history with the company.
  • Your available credit is defined as the amount you have available to request from your Flex Loan which is determined by looking at your credit limit without the principal outstanding amount. As you request cash advances, your available credit decreases, but you can increase it again by making payments on the principal.
  • Your account balance is the outstanding amount of advanced credit, which includes interest and fees associated with each billing cycle.
  • The principal is the amount you’ve borrowed from your Flex Loan, which doesn’t include fees or interest.
  • Cash advances are the amounts you borrow, and there’s a minimum requirement of $50 up to your credit limit. You can request cash advances not only online by also by phone.

Repayment Options:

  • You’re required to make a minimum payment during each billing cycle, which is all of the interest and fees accrued during that billing cycle as well as 5% of your principal balance. Your payment due won’t ever be lower than the lesser of either $35 or your full outstanding balance. You can opt to have this amount deducted from your checking account on the due date if you select the electronic payment method.
  • You can also make additional payments on your CashNetUSA line of credit if you choose. These payments can be made at any time, and if you do opt to make these additional payments, you may lower the amount you’re paying in terms of interest and fees.
  • You can also choose to pay in full without prepayment penalties. Once you pay your net payday advance in full, you’ll reduce your interest and have your full available CashNetUSA line of credit again.


CashNetUSA Installment Loans

With CashNetUSA installment loans, the payment options are a bit different. They differ from the traditional payday loan, which has an installment loan you repay in increments that can be staggered over a period of months or even years.

With each payment made over increments of time, you’ll repay a part of the loan plus interest. With these loans, you may be able to borrow a larger amount than you would with another type of payday loan because you have a longer period within which to pay back your loan.


CashNetUSA Reviews of Rates and Terms

When customers and borrowers are seeking information about any loans, the primary areas they look for are the rates and terms. When you’re seeking a CashNetUSA review, these are two of the areas you should have a thorough understanding of before making a borrowing decision.

Image source: Big Stock

A few CashNetUSA.com reviews are negative only because consumers didn’t completely understand the terms before submitting an application. Arming yourself with knowledge will ensure you go into the process with a clear idea of what’s expected of you, the borrower.

The terms, rates, and even the available amounts you can borrow depend primarily on your state of residence. For example, if you live in Hawaii, your maximum loan amount available from CashNetUSA is $500.00 and is due to be paid back by your next payday, which can be anywhere from 8 to 32 days away. If your payday doesn’t occur within this time range, it’s due in 14 days. For Hawaii residents, the loan fees are $17.65 per $100.00 borrowed.

As another example, if you’re a resident of California, the maximum loan amount available from CashNetUSA is $255.00, and your loan repayment is due during a payday period falling between 8 and 31 days after you receive your loan. California laws state that your loan must be paid in full on the due date, and early payoff requests must be received at least two days before your due date.

The loan fee for California residents is the lesser amount of either $45.00 or $17.65 per $100.00 borrowed.

Installment loans for California residents are available at a minimum amount of $2600.00 and at a maximum amount of $3400.00, with loan terms of 18 months. The annual percentage rate for an installment loan for a California resident is $187.33.

These are just two of the 30 states in which residents may utilize CashNetUSA for payday or installment loans. It’s important to check the terms of your state before using this loan service because each state’s regulations, interest rates, and loan minimums and maximums are unique.

By visiting the CashNetUSA website, you can also find state licenses and registrations that dictate that the company is lawfully able to operate there.



CashNetUSA Promo Code Options

In addition to a range of flexible loan options, installment loans, traditional payday loans, and lines of credit, CashNetUSA also boasts frequent discount promotions, which can save borrowers money on the cost of their online loans.

CashNetUSA promo code options are designed to make it easier to find a payday or installment loan solution that works for you while also ensuring you’re getting the best possible deal.

  • These promo codes save borrowers money on the cost of fees and interest, and how promo codes specifically work is largely dependent on your state of residence.
  • If you use a promo code for a traditional payday loan, you’ll start saving money right away on the cost of the loan’s initial fees. With an installment loan, a promo code will instead help you save money at the end of the process.
  • Once you’re approved and you’ve utilized your code, you’ll make your installment payments. Then, once the loan is repaid in full, the discount is applied to your first two installment payments, and you’ll receive a rebate deposited directly into your checking account.

Promo codes are fast, easy to use, and incredibly useful, much like all of the online products offered by CashNetUSA. When you’re filling out your online application, just type in the promo code, and you’ll receive the benefits of the savings offered.


Is CashNetUSA Legit?

The simple answer to this question is yes, CashNetUSA is a legitimate company which operates in 30 states with full legal compliance and licensing.

CashNetUSA is one of the preferred online loan and payday lending services, not only because it’s completely transparent regarding fees, regulations, and other pertinent information, but it also operates under the umbrella of a larger publically-traded company which provides customers with an added layer of security and peace of mind.

CashNetUSA is stringent about following all federal and state lending guidelines and meeting any relevant qualification criteria.

Due to the company’s strong and reliable reputation, some scammers have attempted to operate under the guise of being affiliated with CashNetUSA. It’s important to ensure you go directly to the company’s own website to avoid potential scams which aren’t associated with CashNetUSA.

If you receive a call claiming to be from CashNetUSA, and the caller asks you to do something like putting money on a prepaid card and mailing it to a particular address, it is a scam, as it’s not something the company would do.



CashNetUSA Reviews

Customers are, for the most part, extremely satisfied with not only the loan process they experience with the company but also the impeccable level of customer service which makes CashNetUSA a preferred short-term lender.

Many of the CashNetUSA.com review listings from real customers cite the benefits of using the company, which include the fast online application process, flexible repayment options, the honesty and transparency of the company, and also the ability to receive money quickly, even without perfect credit.

The one complaint very few customers cite in CashNetUSA reviews are the high interest rates associated with these loans, but that is an essential element of payday loans. Since the loans are meant to be short-term solutions for cash emergencies, the interest rates are higher, but when they’re paid off quickly and in the terms specified, borrowers find that they’re actually paying a minimal amount of interest rates and fees.

Ultimately, if you’ve run into an emergency, which so many people do on a daily basis, and you require cash quickly, CashNetUSA is one of the top companies to help you avoid a financial disaster and regain your footing with fair terms and a simplified lending process.



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