About CashNetUSA

By HighYa Staff

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 59 CashNetUSA Customer Reviews and Complaints

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Average Consumer Rating: 1.4
Rating Snapshot:
5 star: 4 4 star: 2 3 star: 1 2 star: 1 1 star:  51
Bottom Line: 12% would recommend it to a friend
Showing 1-11 of 59
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  • 1 out 1 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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  • 3 out 3 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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  • 8 out 8 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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  • 12 out 13 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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  • 7 out 9 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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  • 11 out 11 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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  • 15 out 16 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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  • 12 out 12 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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  • 15 out 15 people found this review helpful

    Fraud loan sharks with permission

    • Puerto Rico,
    • Dec 13, 2018
    • Verified Reviewer

    I got a loan with this company - big mistake. $650.00 turn out to be a $2,000 payback. I live on disability payments and took this loan for emergency travel. I would not recommend this company to anyone. They will rob you blind. I cried like I never in my lifetime had. A company like this should not exist. Loan sharks with a license. Horrible company for loans.

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

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  • 14 out 14 people found this review helpful

    Don't do it!

    • Charleston, SC,
    • Dec 12, 2018
    • Verified Reviewer

    The bottom line is that it looks like I will NEVER finish paying this loan. If I ever do...they will NEVER have to worry about me again. It's awful! I had to apologize to the very nice male, customer service rep. Heck, he's just an employee! He was so very kind, but I went OFF when he told me exactly what my balance was. Again, DON'T DO IT. Don't say I didn't warn you!

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

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  • 28 out 28 people found this review helpful

    Scam!

    • Virginia,
    • Nov 16, 2018
    • Verified Reviewer

    I borrowed a $1000. I've paid back over $500 in two months and now owe $1,016. Do not use this company. If I was able to see these reviews I would not have used this company, but I only saw good reviews that I'm now assuming are all fake.

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

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Showing 1-11 of 59

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