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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Read 62 CashNetUSA Customer Reviews and Complaints

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Average Consumer Rating: 1.4
Rating Snapshot:
5 star: 4 4 star: 2 3 star: 2 2 star: 1 1 star:  53
Bottom Line: 11% would recommend it to a friend
Showing 1-11 of 62
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  • 1 out 1 people found this review helpful

    DATA COLLECTORS

    • St. Louis, MO,
    • Jul 9, 2019
    • Verified Reviewer

    I wish I could rate this company less than one star! They sent me an approval letter, I called the number and spoke to a girl name Ashley, she asked me all of my personal information and then told me that I had to apply for a loan. I initially (several weeks ago) did not include my banking information on the application. Now she wants me to give her that information and says that the loan request cannot be completed without it. I asked for my information to be destroyed and asked to speak to a supervisor or manager. Ashley told me that there was not one on the floor at this time and she would have one to contact me. I asked to be connected to the owner or corporate office and again Ashley refused to help me (the customer). We played this game for about 10 minutes, then Ashley put me on hold for 14 minutes. Then I spoke to another girl who didn't give her name and proceeded with the same BS questions to "look up the account." I told her I wanted to speak to a manager and she put me on hold for 12 minutes. A lady came to the phone and told me that information was not going to be used or misused in any way. She cited some BS federal law to retain my information even though I did not continue to apply nor was approved for a loan. No explanation for anything really! I told that her company does not have my permission to contact me ever again with their BS approval letters or anything else these data collectors can come up with! Why would you send people APPROVAL LETTERS if they still have to APPLY FOR A LOAN? So you can collect their data, whether they give you a loan or not, usually not!

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

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  • 4 out 4 people found this review helpful

    Rip offs

    • Virginia,
    • Jun 27, 2019
    • Verified Reviewer

    Do not, I repeat, do not get involved with this company. They charge up to 100% interest on payments so you’re left paying 185% every week not even touching your principal. Once you set up an ACH account don’t change it because they will bounce your payments twice even up to 3 times before contacting you stating you owe late fees on top. After notifying the company that the ACH accounts changed they still proceeded to want payment even though they owe twice the amount in ACH draws on the account that’s no longer received funds into. Just don’t get wrapped up in this fly-by-night company, please.

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

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  • 5 out 5 people found this review helpful

    Scam, beware!

    • Whiting, VT,
    • Jun 19, 2019
    • Verified Reviewer

    I'm so glad I read these reviews before I went for this loan. I really don't believe this is real. I was asking for a $5,000 personal loan they said no problem, the rates sounded good, $147 a month for 24 months. So they go ahead and deposit $800 in my account and they wanted to send it back the next day, this was to ensure I was who I said I was. Guess what? The next day I call my back and they say the funds are bogus. I call their Sr rep Johnny Johnson, hmmm. So I call him, he says he'll get back to me. The next day he tells me they want me to make 2 months payments before depositing the pan payment. I say to him I've never heard such a thing, I tell him your $800 deposit was no good and now you want me to send you 2 payments before I see a dime from you guys when your first check didn't clear? He pretty much said take it or leave it. I hope this wasn't too long, all I can say is I hope somebody reads this and heeds my warning, don't do it under any circumstances. And I'm pretty desperate. Thank God for HighYa.

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

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  • 4 out 4 people found this review helpful

    Scam

    • Missouri,
    • May 2, 2019
    • Verified Reviewer

    People posing as CashNetUSA approve you for a loan and then ask you for a payment in advance. After they get your personal information the phone number that they call you from they don't answer until they're ready to call you back. The phone number is 773-796-8272 from Chicago, Illinois. When you talk to them about being scammed, they hang up on you.

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

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  • 4 out 4 people found this review helpful

    Bad customer service

    • Las Vegas, NV,
    • Apr 24, 2019
    • Verified Reviewer

    CashNetUSA are nothing but dishonest. They can take advantage of people on a limited income. These people have taken payments out whenever they want to, knowing I don't get paid until the beginning of the month. I had extensions and they never told me on the phone or email that I did not have any more. So now my bank account is in the red due to these people who think they are doing us a favor. Do not get a loan from this business, they will only mess you up in more ways than one.

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

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  • 11 out 11 people found this review helpful

    Joke of a company

    • South Carolina,
    • Mar 15, 2019
    • Verified Reviewer

    This place is a joke! I tried to pay off the total of my loan, had plenty to cover in the bank only for them to tell me my card was declined. I called the bank back and made sure the limit was increased and the money was good. I gave these crooks a call back and tried my card again, only to have them tell me that it was once again declined. After speaking to four different CSRs and three managers, the third manager finally figured out what they were screwing up and then wanted to run the payment as an ACH with an account and routing number. The information was provided and that payment went through.

    The next day I have three charges on my account totaling $3,704.91 and also causing that particular account to go negative. I call the manager Lashanda back yesterday and was assured that she saw both transactions going back into my bank totaling $2,469.94. I wake up this morning and they have only put back $1,234.97 and the debit transactions they were claiming were "declined" have now hard posted to my bank and been authorized.

    This company is a joke and seems to have zero training in the customer service department or even know how to process payments properly. Not to mention being very shady in general. There is not even a direct line to speak with Lashanda the manager and no direct line to their main office in Chicago, Illinois. You may get there backup in a suburb outside of Chicago, it's a just a roll of a dice. I have been on the phone the past two days for hours trying to get their screw up fixed and still have not gotten it straightened out.

    Do not fall for the good reviews that you see in their website that were probably written by someone compensated for their "great" review, trust me when I say there's a reason they have a C+ rating on BBB's website!

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

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  • 13 out 14 people found this review helpful

    Do not get money from here!

    • Mountain City, TN,
    • Feb 20, 2019
    • Verified Reviewer

    I promise you, there is no reason that is terrible enough for you to take out a loan with this company. I don't care how dire your situation seems, it is not worth it! The interest rates are at nearly 400 percent. I would not recommend this business to my worst enemy! It should be illegal to charge such rates. AGAIN, I promise that no matter what is going on, there is NO ADEQUATE REASON for accepting a loan from this company!

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

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  • 8 out 10 people found this review helpful

    Safe

    • Maryland,
    • Feb 14, 2019
    • Verified Reviewer

    No payday loan is a good thing. However, much to my dismay, I have had to use it. Most I have seen takes out extra payments, call your job, all kinds of weird stuff. I was able to use it from time to time when I was building credit. I have not once had any trouble with them. Much better than one of those local check cash places. It's not ideal, YOU CAN'T ABUSE IT. I have even been able to move a payment as well, due to an emergency came up, and I was concerned my payment would not be in the bank. I contacted them and they moved the date. Painlessly. Politely. Let's face it, you are mortified enough with the situation you are facing. It helps to not be further belittled. It's a safe lender. You'll get money quick. Know fully what is expected.

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

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  • 13 out 13 people found this review helpful

    Garbage loan place.

    • Birmingham, AL,
    • Feb 6, 2019
    • Verified Reviewer

    I opened up a line of credit. Took out a decent amount. Less than $2000, 15% transaction fee for every withdrawal.

    First payments after they were supposed to be $274, ended up as $574. Requested a possible split on the fee/interest (299%) and was granted $173 payments in addition to $274. Bill was $755 for the first payment. Total owed to them $3000, on a $2k credit line.

    These people are a scammer, don't trust it. Predatory loan outfit...needs to be shut down.

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

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  • 17 out 18 people found this review helpful

    Consumer fraud at its finest!

    • Seven Mile Ford, VA,
    • Jan 16, 2019
    • Verified Reviewer

    Absolutely, positively DO NOT give these people the time of day! I found myself in a bind and finally "bit" on one of a hundred mailings that these people sent me over the years. Not sure where they harvest their information, but it seems that they prey on individuals that have a steady income but less than perfect credit.

    I borrowed $1000 in November 2018. I have made two $350+ payments and got a new payment notice today. After this payment, I have paid these people $1050+, yet my new balance is over $1100!

    There's a good chance that I'll just quit making the payments and take my chances that they'll be happy with what they've gotten out of me.

    This company needs to be investigated by the regulatory agencies that oversee them and their business practices IMMEDIATELY!

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

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  • 14 out 14 people found this review helpful

    Misleading information

    • Kansas,
    • Jan 14, 2019
    • Verified Reviewer

    Borrowed $850. I've paid 500+, and they are saying I yet owe $840.00. Just a legal way to strong-arm people. Legalized loan sharking at its best. I'm done with them. I wouldn't even send my enemy to them. Interest rates are atrocious.

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

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Showing 1-11 of 62

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