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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48 Consumer Reviews for CashNetUSA

Average Consumer Rating: 1.5
Rating Snapshot:
5 star: 4 4 star: 1 3 star: 1 2 star: 1 1 star:  41
Bottom Line: 13% would recommend it to a friend
Showing 1-11 of 48
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  • 1 out 1 people found this review helpful

    Complete utter scam! Run, run!

    • Kansas,
    • Nov 10, 2018
    • Verified Reviewer

    Ok, these interest rates are unbelievable. I took out the loan two months ago for $700 and paid $400 back. Today Collections calls me and tells me I owe $780 to pay off the loan, I mean, what the heck? I will never be able to pay this place off at this rate. Never, never, never again. Thanks, CashNetUSA, for helping me screw myself.

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

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  • 1 out 1 people found this review helpful

    Don't do it, it's a scam

    • Tennessee,
    • Nov 2, 2018
    • Verified Reviewer

    Every time I make a $200.00 payment, my loan balance goes up instead of down. I borrowed $800.00, have paid back $730.00...they say my balance is 875.00.

    Their interest rate is a scam. They led me to believe I would have 6 payments max. They lie...

    Don't get involved. I expect them to be in a class action lawsuit over being dishonest.

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

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  • 7 out 8 people found this review helpful

    Not what I expected!

    • Tennessee,
    • Oct 16, 2018
    • Verified Reviewer

    I became a CashNetUSA customer in May of 2018. I was told that the payments would be reasonable and that it wouldn't take that long to pay the loan back. However, that is far from reality. I mean, the payments are reasonable, if you have a large income but, but if that were the case, I wouldn't be a customer...Now in October, and after a total of a little over $1400 in payments, I still owe $1042 on a $1250 loan. At the current rate, it will cost me nearly $11,000 to pay back the loan.

    I needed the money because of a bad situation, but I think I would have been better off never learning about this company and their shady practices. Predatory lending at its finest.

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

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  • 8 out 8 people found this review helpful

    Loan

    • Kansas,
    • Sep 22, 2018
    • Verified Reviewer

    This place will put you in a worse situation then you were in. I received $1300.00 from them, which cost me over $250.00 per paycheck to pay back. All payments made on the loan went straight to interest. Your balance just keeps going up. You will never be able to pay off this loan. The amount of interest they charge should be illegal.

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

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  • 5 out 5 people found this review helpful

    Scam

    • Virginia,
    • Sep 21, 2018
    • Verified Reviewer

    I was in a financial bind and credit is less than perfect, so I went with CashNetUSA. Worse mistake EVER! Do not walk, but RUN. I have used cash advances before, but this is the WORSE! I did not know I would have to pay this back bi-weekly, this is putting me in more in a financial bind than it did to help me. What loan/credit of line makes you pay bi-weekly? Unheard of. I wish I found this site and read the reviews before signing up with these loan sharks.

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

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  • 9 out 9 people found this review helpful

    Line of credit

    • Alabama,
    • Sep 13, 2018
    • Verified Reviewer

    I should have looked at the reviews before using CashNetUSA. It is a rip-off, a COMPLETE rip-off. I called before even going with the line of credit TWICE and both times was told oh it’s like your credit card. This is an ABSOLUTE lie! The amount you pay as a minimum amount changes every two weeks and it does not go toward your balance, it’s nothing like a credit card, it’s meant to never be paid off. You pay $1000s to pay off a loan.

    Do not EVER get a loan with them! Save yourself, it’s supposed to help you in a bad situation, and it does, all while putting you in another one!

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

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  • 16 out 16 people found this review helpful

    Do not use CashNet

    • Virginia,
    • Aug 15, 2018
    • Verified Reviewer

    Predatory loan company. Use another option! I took out a loan for $1,500 paid $850 back over two months, and my payoff balance is $2,283! I skipped paying bill's to pay this off! I will NEVER use them again! Don't do it, you will regret it!

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

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  • 18 out 19 people found this review helpful

    Terrible scam

    • Michigan,
    • Jul 26, 2018
    • Verified Reviewer

    I am very, very appalled by my experience with somebody portraying to be from CashNetUSA! They have taken me for a ride to the tune of $428.00 and they wanted more! They wanted payment for insurance upfront by Google Play card.

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

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    • Oct 25, 2018

      Tammy K.

      I feel for you. They got me too for $650, with the same thing. The $7500 loan was approved for a five-year loan, but because my credit score was low, l had to buy five year's of protective insurance in case I went to default on the loan and that they would still get paid. It was $100 a year, plus l had to pay the first payment of $150 up front and then the funds would be transferred to my account via EFT within an hour. Well, I bought the Google Play Cards for $650 and called them back with the codes and picture of the cards and receipt. Well, the money never got put into my bank account, and when I called them back it kept ringing busy or went to voicemail for 3 days. Then the phone number was disconnected. I filed a police report and FBI report and also reported with the FCC.

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  • 34 out 35 people found this review helpful

    CashNetUSA, highway robbery at its best

    • Maryland,
    • May 30, 2018
    • Verified Reviewer

    In a time of need, I took out what I thought was a short-term loan. I needed a quick $1000 to help pay for my father's funeral expenses. I figured I can pay the loan back in full on my next pay period, which was only eight days from the date of May 24th when I received the funds. The due date to make the first installment or to pay the loan in full was June 8th.

    I called CashNet on May 25th informing them that I want to pay the loan off in full on June 1st, which is a week earlier than it was due. Keep in mind, I borrowed $1000, and they tacked on a hefty 25%, which made my balance $1250. I was ok with that because I needed the money right away. The person I spoke to told me that if I was to pay the loan on June 1st, I would incur additional interest of roughly $130. Which then brought my payoff up to $1380. I ask why I am paying additional interest. My sole purpose for paying early is to prevent any extra charges. She told me that my statement closes on May 31st, which is one week after I received the funds.

    That is a big penalty for wanting to pay the loan off early. This company is really preying on people in their time of need. I was ok with the already 25% charge but felt I was being gouged when they tack on more interest just a week later. This company should be shut down.

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

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  • 19 out 19 people found this review helpful

    Poor customer service and poor online service

    • Houston, TX,
    • May 28, 2018
    • Verified Reviewer

    I tried to apply for a loan and update my information online because they had the wrong employer and wages, and wrong drivers license expiration date, and the system would not allow me to make corrections, so I got a denial based on wrong information on my profile. I tried calling, waited 20 minutes for an agent to tell me something I already knew was denied, and she could not update my information.

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

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  • 19 out 20 people found this review helpful

    Scammed out of $500.00

    I was just scammed out of $500.00. I wish I had read your following information beforehand:

    "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."

    A lesson learned the hard way, but it will never, ever happen to me again.

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

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