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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45 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:  38
Bottom Line: 13% would recommend it to a friend
Showing 1-11 of 45
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  • 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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  • 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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  • 2 out 2 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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  • 9 out 9 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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  • 10 out 10 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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  • 25 out 26 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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  • 15 out 15 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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  • 15 out 15 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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  • 26 out 26 people found this review helpful

    Crooks won't let me pay early.

    CROOKS. I called today to pay an extra $100 toward the principle so the interest isn't so bad. My payment isn't due for another 9 DAYS. After getting a SALES person within a few seconds of calling, they put me on HOLD for 15 minutes, I called back and I was on hold again for 12 and I hung up again (they put you on hold in hopes you hang up and don't pay them).

    They told me that I can't choose where my payment goes and if I pay, it will ALL go towards the payment that ISNT for another 9 days. I said I want to pay and put it towards PRINCIPLE ONLY and still make my April 6 payment as scheduled. This is the first time in my 41 years ANY COMPANY which won't allow early payment toward PRINCIPLE.

    My car company does, my house company does and EVERY OTHER LOAN I have ever had allowed early payments to go toward Principle.

    Any lawyers out there find this to be ILLEGAL? Seems ILLEGAL that my early payment can't be put towards my loan on Principle. I Will post this negative feedback until they allow me to pay early. Crooks. I will pay this off in full using this paycheck instead of paying my truck payment. It's better to be late on my vehicle than give these CROOKS my money…

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

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    Comments (2)
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    • Sep 5, 2018

      Yolanda S.

      Did they ever allow you to pay towards your principal in advance?

    • Sep 6, 2018

      Brian Heinemeier

      They did not. So basically you can't pay this off faster to save. I used them once and never again.

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  • 20 out 20 people found this review helpful

    Not upfront

    • Virginia,
    • Mar 31, 2018
    • Verified Reviewer

    At first, I thought it was a good idea, but now I wish I never borrowed from them. My first pay was $73, and I had $100 still available to borrow, so I got $50 more and that raised my monthly payment to $253!

    Don't fall for this loan, it's just as bad as the local payday loans at 300% interest. Save your self a headache. Once I'm finished with them I will never do this again or recommend this "predatory" type loan.

    Thanks for the headache and stress, not.

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

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  • 16 out 19 people found this review helpful

    Horrible company that LIES!

    I went through a multi-loan provider that pulls from a pool of lenders. Once, after entering all basic information and bank account info, I got redirected to CashNetUSA. From there I was told to enter some more following information. I got a pre-approval amount of $600. They did not verify if I was who I said I was, nor verified any info for that matter. Once I got to the loan amount, it prompted me to hit "next" on the mobile app application. Which said nothing about submitting or confirming my loan, simply stating to hit "next" to view what payment plans they had. Once I hit "next," it redirected me to their terminal website stating my application is in processing and thank you for submitting. At this point, I was very pissed off. I did not want to submit my application without first seeing a complete overview of everything and what I am potentially going to agree too.

    From this point, I called CashNetUSA, explained to them that the loan application had errors and was not supposed to be submitted for approval, that it was supposed to take me to the payment plan page. From here they gave me the runaround and transfer after transfer. Finally, I gave up and emailed Corporate. I got an email from them stating that my loan is open and that I now have to pay them back not only the $600 but an additional $822 on top of that, even though I explained that the process was not correct and my information should have never been submitted. They refused to accept the money back after I told them I didn't want it and that I never hit anything stating that my loan was being submitted or accepted or confirmed.

    After many failed attempts to get them to take back their money, they continued to deny the return of the funds and just kept repeating themselves, totally disregarding that their application process was incorrect. Beware of this company, it's a fishing scam that gets people to enter all their info, and without any prompts of any kind telling you that the next process is confirming your application, they submit it without notice, thinking you're just going to the next page to either enter in more info or select options. Nothing stated anywhere that I was submitting my application. Now I am being lied to and screwed over by a loan I didn't want.

    This company should be shut down and investigated for improper procedures of contract approvals as well as to have more security protections put in place to confirm the identities of said loan seekers. This company is unorthodox, has horrible policies and procedures, and preys on people with intent to claim and process loans falsely and with outrageous interest fees without any rectifying solutions what so ever, even with me still trying to return their money.

    I am now be contacted by a debt collector because I refused to pay them over $1500 on a loan that should not have been approved and was only originally $600. I explained to them the situation and they refuse to help, and all they want is their money; they could care less about how I was screwed over in this situation by CashNetUSA.

    Please do NOT seek a loan through this business. They do not care about the process, and if it was screwed up and an error, they will stick you with the loan without ever expecting responsibility or accountability of any kind. BEWARE.

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

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Showing 1-11 of 45

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