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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40 Consumer Reviews for CashNetUSA

Average Consumer Rating: 1.6
Rating Snapshot:
5 star: 4 4 star: 1 3 star: 1 2 star: 1 1 star:  33
Bottom Line: 15% would recommend it to a friend
Showing 1-11 of 40
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  • 13 out 14 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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  • 7 out 7 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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  • 8 out 8 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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  • 16 out 16 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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  • 14 out 14 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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  • 10 out 12 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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  • 19 out 19 people found this review helpful

    Rip-off

    This company will tell you anything to get a loan with them. The interest rate is ridiculous! If you can pay it off right away is the only way you won't get ripped off. I got a loan of $1,000 and was charged $2700.

    It's a good thing I paid right away. They take advantage of people who need money.

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

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  • 18 out 18 people found this review helpful

    Be weary, be very weary

    I needed some extra Christmas cash. I was approved for $700, and when asked how much I wanted to draw off the $700, I input $300. To my surprise, the system deposited $700. Here I am two months later paying bi-weekly more than the minimum and owe, $865. I am unable to see the light at the end of this tunnel.

    To date (eight weeks later) I have paid over $600 and not even tapped into the principle.

    Be wary, be very wary!

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

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  • 13 out 13 people found this review helpful

    CashNetUSA is made to fail

    I should have never gotten this loan. The interest and fees are so high, that I'm paying $1,000 more than what I borrowed only four weeks later. I wouldn't recommend this to my worst enemy. There are better options out there than CashNetUSA. They set you up to fail. I wish I would have never gotten it.

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

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  • 13 out 13 people found this review helpful

    Please don't!

    • Virginia,
    • Feb 16, 2018
    • Verified Reviewer

    This is just a quick review, and this review is not to be mean or degrade this company; it is to be honest about this company.

    Whatever you do, PLEASE DON'T get a loan from this company unless you are able to pay the full balance back during your next pay period. This company charges so much INTEREST, it's sad! This company needs to be shut down due to the charges in interest they are charging people.

    EXAMPLE: I borrowed $300.00, but then they kept increasing my balance, and I kept borrowing not thinking about what I was doing because I really needed the money. Next thing I noticed my balance is $1000.00. I have paid CashNetUSA about $3000.00 already, and I still haven't finished paying them off. I still have a balance of $900.00 every pay period (monthly), they take $300.00 out of my account, and I have been paying them for over a year now. NO JOKE. I'm getting ready to pay them off with my taxes, and my payoff balance is $1200.00.

    So DON'T borrow from this company! Oh my gosh, please find another company! Or better yet, just save your own money.

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

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  • 20 out 22 people found this review helpful

    Regular customer gets denied for unexplained reason

    • Jacksonville, IL,
    • Jan 20, 2018
    • Verified Reviewer

    I am a regular customer and have the preferred status. I have always paid all of my loans off on time and have been a customer for several years. I paid off my last loan and applied at a later date for another loan for a significantly lower amount than I usually apply for. All of my information is the same as it has always been and I get denied. No reason was given. That does not make sense. No one is willing to look into it to see if there was an error somewhere because I am baffled. No help. I will apply elsewhere from now on for my installment loans.

    You have lost my business and will no longer be receiving the thousands of dollars you have received over time in my interest paid.

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

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