About CashNetUSA

If you’ve found yourself in a financial emergency, you may have thought about taking out a loan through CashNetUSA, a lender that claims to provide short-term, small-principal payday loans and lines of credit. When compared to the competition, CashNetUSA claims that they can provide you with an instant approval and cash the next day, which is important during times of crisis.

But after everything is said and done, are the funds provided by CashNetUSA worth it? We deposited the facts, and here’s what we found out.

How CashNetUSA Works

While CashNetUSA.com provides lines of credit in some states, their primary product is payday loans, which are short-term, small-principal loans that are typically repaid quickly.

According to the CashNetUSA website, you can apply for your payday loan online, and can receive an instant decision via email, even if you have less-than-perfect credit, and even if you’ve been turned down by other lenders. In order to begin the 5-minute application process, you’ll need to provide your name, address, phone number, email address, DOB, Social Security number, and work details.

Once you’ve been approved, CashNetUSA claims they can send the funds to your bank via ACH the next business day, as long as your application is approved by 9pm CT. From there, most loans are then repaid in full on your next payday, although the company claims that they can extend your payoff date in some instances.

CashNetUSA.com Pricing & Refund Policy

What your CashNetUSA loan will ultimately cost depends largely on the amount borrowed, your credit score, and the state in which you live. However, with this in mind, fees are generally as follows:

  • Loan amounts range between $255 and $500.
  • Loan fees range between $10 and $45 per $100 borrowed.
  • APRs range between 205% and 800%.
  • Loan terms range between 2 weeks and 15 months.

Because CashNetUSA specializes in short-term loans, the full payoff amount will typically be due on your next scheduled pay day. However, according to the company’s website, you can pay your loan off early, which may provide a refund for a portion of your loan fees.

In order to process an early payoff or inquire about any other aspect of your loan, you’ll need to contact CashNetUSA’s 24/7 customer support at 888-801-9075.

What’s the Bottom Line About CashNetUSA?

Now that you know more about CashNetUSA, should you consider a payday loan from them if you find yourself in a financial emergency? Maybe, but keep the following in mind:

High Price for a Small Loan

Along with nearly al other payday lenders, CashNetUSA charges extremely high interest rates, on top of applicable loan fees. This means that you should avoid utilizing these types of lending services unless you have no other options. If you do take out a loan though, make sure you pay it off as quickly as possible.

Take the following as an example: If you live in Delaware and take out a $600 loan with a 388% APR and a 7-month repayment schedule, this means you will have paid a total of $1551, which means you’ll have paid more than $950 in interest. If you live in another state which charges an additional fee per $100 financed, your costs will be even higher.

Scammers Pretending to be CashNetUSA

As we mentioned in our recent ACE Cash Express review, there have been hundreds of instances of scammers pretending to be CashNetUSA who called individuals and told them they’re approved for a loan. However, customers will be asked to put money on a prepaid Green Dot MoneyPak or Vanilla card and send it over, which will often be accompanied by follow up requests for increasingly greater amounts of money. However, this is not a practice that CashNetUSA claims to adhere to, so if you receive one of these calls, hang up immediately and file a complaint with the FTC.

Online Customer Reputation

Overall, it appears that CashNetUSA has a mostly negative online customer reputation, with the most common complaints citing high-pressure sales calls and extremely high interest rates, which may end up costing you twice as much (or more) as your original loan amount.

Unwanted Sales Calls/Emails

According to CashNetUSA’s Privacy Policy, they may provide your information to advertisers, who will then contact you in an attempt to sell you their products and/or services.

Right Choice for You?

Between the extraordinarily high interest rates and low online customer reputation, it’s important that you fully weigh all your options before taking out a loan through any payday lender, including CashNetUSA.

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21 Customer Reviews for CashNetUSA

Average Customer Rating: 2.0
Rating Snapshot:
5 star: 4 4 star: 1 3 star: 1 2 star: 0 1 star:  15
Bottom Line: 24% would recommend it to a friend
Showing 1-11 of 21
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  • 9 out 11 people found this review helpful

    Scammers

    • Phoenix, AZ,
    • Aug 28, 2017
    • Verified Reviewer

    These people call claiming to be the real CashNet. They are from foreign countries and speak broken English. They are using "burner" numbers to call you on. I'm sure half of them have no idea where the location of the number is.

    I spoke with the one man who called himself William Smith (LOL). He stated they would give me a loan for $4K but they had to deposit $500 into my bank to make sure I was legit and I would have to put that in a Walmart gift card and send it to them (LOL). I was like "Yea, ok, so you are going to deposit a fake check to my account, I'm going to take out money send it to you and then be out $500?" He said no. Then he said it would be in my account in two hours. Well it wasn't so I called back, and he said they didn't do it because I couldn't be trusted! Yea, ok, uh, you got all my info, but I can't be trusted.

    Thankfully I knew this was a scam from the start. Do NOT use them. I got another call from another burner number, and this guy was Peter with the same agenda.

    Bottom Line: No, I would not recommend this to a friend

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  • 22 out 23 people found this review helpful

    Do NOT take out ANY loan from CashNetUSA

    • Kansas City, MO,
    • Aug 24, 2017
    • Verified Reviewer

    I will never EVER use CashNetUSA again. I took out an Installment loan for $1,700, and my pay off is almost $5,000! I've called multiple times to speak to someone, and how they left it was, they would give me a call back.

    Someone finally called back and told me that my first three payments didn't even go to my installment loan! It went to "fees." When I asked her what the "fees" were, she couldn't tell me! My first three payments already totaled almost $600, and it didn't even go to my loan. I haven't missed a single payment, made early payments, and paid extra and still have over $2,000 left to pay.

    I understand it was my decision to take the loan, however NOWHERE did their website tell you there would be that high of an interest rate, that many fees to where it's not even affecting the loan, and how much the total loan will be, UNTIL you sign your documents. I also called to do a balance inquiry to see what my pay off would be one day and it was $1,300. I called again in about two weeks and it went up to $1,500! I've already paid over $2,000 to my loan that was $1,700, and the balance is still at $1,500? No one could tell me why my balance was fluctuating whatsoever.

    I will never, EVER use CashNetUSA again. I can't believe they get away with charging people that much. No matter what situation you're in, don't let them fool you into thinking it's a good idea to take a loan from them. I've learned my lesson.

    Bottom Line: No, I would not recommend this to a friend

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  • 9 out 18 people found this review helpful

    I'm so glad they were there

    • Waynesboro, TN,
    • Jul 25, 2017
    • Verified Reviewer

    I had received a letter in the mail about CashNetUSA and was really skeptical about it. I called and talked to them, and still wasn't sure. A few days later I received another letter. This time I did call to talk to them. They asked a few questions, and I got approved for the money. They told me that my money would be in my account the next business day and it was in my account by 9 am.

    I am so glad I did business with them. I would totally recommend it to all my friends and family. It was fast and easy. Nice people. Thank you CashNetUSA for being there when we need you.

    Bottom Line: Yes, I would recommend this to a friend

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  • 16 out 18 people found this review helpful

    Not even worth one star

    The CashNetUSA representative I had was rude and wouldn't answer any of my questions. Big waste of time and personal information put into it. He couldn't answer when asked what happens to my personal information, couldn't answer it. They make you fill out an app then have you call to ask the same questions?! They get into your bank account details and then tell you due to your account activities we can't approve. Umm, that's the reason I'm seeking a loan to pay my bills.

    Bottom Line: No, I would not recommend this to a friend

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  • 18 out 20 people found this review helpful

    This company is no good!

    They never sent me the money, and now they won't answer the phone. Plus, my bank doesn't see the money deposited in my account. So does CashNet think they are going to get my hardworking money? Heck no because I'm going to my police about this criminal company!

    Bottom Line: No, I would not recommend this to a friend

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  • 14 out 16 people found this review helpful

    Don't trust them

    It's really a scam. The guy Chris makes it sound real. I asked him was this a scam and he said no. I didn't trust this from the start. People, please be aware of this. They want to put a deposit in your bank then ask you to send it back (LOL).

    Bottom Line: No, I would not recommend this to a friend

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  • 53 out 56 people found this review helpful

    Stay far away from CashNet!

    • Charlottesville, VA,
    • Feb 22, 2017
    • Verified Reviewer

    My daughter-in-law lost her home because of a $500 loan from CashNet. They took half of her paycheck every two weeks. The total she ended up paying back was $1,500 on a $500 loan. It should be against the law what they are doing to people.

    Yes, I too borrowed from them, but I was lucky enough to pay these crooks off and never go near them again. It still cost me plenty, though.

    Bottom Line: No, I would not recommend this to a friend

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  • 43 out 45 people found this review helpful

    Terrible company

    • Nevada,
    • Feb 3, 2017
    • Verified Reviewer

    Their website says there is instant approval. I completed the application and provided well-documented paperwork. It was a Thursday, and I needed money for the weekend.

    They promised that it would be deposited Friday, but it wasn't. It had not even finished "processing" in two days.

    Lying, bad customer service and rates.

    Bottom Line: No, I would not recommend this to a friend

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  • 40 out 43 people found this review helpful

    The very worst loan I have ever have hade

    My loan was fast, as expected. I borrowed $650.00. They deposited $650 on 11/16/17. On 1/11/17 I have paid $462.64, and I now owe $613.44

    Nice, am I real smart or what? I did not know they were this bad!

    Bottom Line: No, I would not recommend this to a friend

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  • 23 out 31 people found this review helpful

    I had a very good experience with the company that helped me when I needed it

    • Mississippi,
    • Jan 31, 2017
    • Verified Reviewer

    I was skeptical to begin with this because I had never used a company like this before. But I have no complaints. They gave me the money when I needed it, and within two weeks I paid it back and was charged $46 for boring $800, so I would say that's not bad at all. They were very nice, polite, and pleasant to do business with, and if I ever need quick cash again, I will go to them first.

    Bottom Line: Yes, I would recommend this to a friend

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  • 27 out 27 people found this review helpful

    Preferred member program has ended, loyal customers not needed

    • Nevada,
    • Jan 22, 2017
    • Verified Reviewer

    What a terrible thing to do to your most loyal and committed customers.

    The new year of 2017 has brought new changes to CashNetUSA.com, as the Preferred Member Program has been removed. I guess loyal customers, who were once valued, now are not. I find this to be just ridiculous.

    CashNetUSA.com, for the past 8-10 years, had a Preferred Members Club, a benefit for those who took frequent loans and paid them back on time. These people were titled as Preferred Members, and we received a discount for the next purchase or loan.

    Well, that has been thrown out the window. Loyal customers are now not valued and treated as if we never existed or helped build the reputation of the company. Shame on CashNetUSA.com, it's already a tough situation to be in one, having to to turn to a payday loan site that charges a huge pay day loan.

    It was once comforting to know that my business was valued, now I am just a number. I'm so disappointed with this choice, so please reconsider. Otherwise, my business will be going elsewhere. Look at other companies if you are wanting to be treated nicely for being a returning customer.

    Bottom Line: No, I would not recommend this to a friend

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