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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53 Consumer Reviews for CashNetUSA

Average Consumer Rating: 1.4
Rating Snapshot:
5 star: 4 4 star: 1 3 star: 1 2 star: 1 1 star:  46
Bottom Line: 11% would recommend it to a friend
Showing 1-11 of 53
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  • 1 out 1 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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  • 1 out 1 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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  • 8 out 8 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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    • Jan 16, 2019

      Marshall W.

      They can't touch your disability payments legally. The Federal government is the only entity that can touch your disability payments.

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  • 7 out 7 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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  • 23 out 23 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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    • Dec 7, 2018

      Kris W.

      I am one hundred percent sure they are fake, bought, or coerced by incentive. "Hey, give us a good review and next month's payment is on us." When I saw five solid stars out of hundreds of reviews, it was immediately apparent. Very, very few of even the best and most reputable businesses of any type achieve that naturally. A pre-approval letter I got today, with a 364% APR, brought me here. It is designed to completely RUIN misinformed and uneducated people who are already poor, desperate and obviously in debt. I did the math and my $1000 loan would have cost $5234 when it was all said and done, and that would be without setbacks like late payments, etc., that many people with financial burden will quite possibly have. LUDICROUS!

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  • 18 out 19 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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  • 14 out 14 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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  • 18 out 19 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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  • 21 out 21 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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  • 15 out 15 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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  • 17 out 17 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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Showing 1-11 of 53

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