CashNetUSA Review

Dena Standley | August 04, 2023

Edited by Hannah Locklear

CashNetUSA has fans and critics in equal measure. So sifting through the reviews can be confusing. However, closely examining the company's website and other reliable platforms can shed enough light on the pros and cons.

For example, satisfied customers swear that CashNetUSA is an industry leader. Their comments stem from their experience with the user-friendly website, interactive application process, quick approval, and same-day deposits. Others who did not anticipate the outrageously high APRs have branded the company a scam.

So what is the truth? And is a CashNetUSA loan and credit for you? Let's find out.

Sued for debt? Settle before going to court with the help of SoloSettle.

How does CashNetUSA operate?

CashNetUSA is a legitimate online lender in select states. To find out if it is available where you live, go to the website and enter your state. This will tell you whether CashNetUSA serves your area and the products you can access.

For example, as of July 2023, CashNetUSA is unavailable in California. In Texas, it only operates as a Credit Access Business (CAB), connecting you to licensed installment-loan lenders. And in Wisconsin, it offers installment loans of up to $1,000 and lines of credit of up to $1,550. The products and loan limits are subject to changes, so finding the most current information on the CashNetUSA website is advisable.

CashNetUSA no longer provides payday loans. But it presents its installment loans as a better alternative because of the extended repayment period.

To qualify for one of CashNetUSA's loans or credit lines, you must meet the following criteria:

• Be a US citizen or a permanent resident.
• Be at least 18 years old.
• Live in a state served by CashNetUSA.
• Have a steady income.
• Have an active checking account that accepts electronic transfers of funds.

You may have noticed that your FICO® score is not a factor. CashNetUSA looks at other factors, such as your current income and ability to repay loans using alternative credit bureaus. So you could have a less-than-perfect credit score and still qualify for a credit line or a loan.

What is a good credit score?

Is CashNetUSA a good choice for you?

The Better Business Bureau (BBB) gives CashNetUSA an A+ rating, but the business is not accredited. The customer reviews tell another story. As of July 2023, it has a 1.12/5 stars review and has received more than a hundred complaints in just 12 months. Many complaints are evidently the result of scammers posing as CashNetUSA staff.

CashNetUSA should be a last resort for those who find themselves in the following situations:

• You have a poor credit score or limited credit history. CashNetUSA looks beyond your credit score.
• You need to know your fate quickly. You will likely know whether you are approved, denied, or need to attach additional documentation within minutes.
• You are in an emergency and need funds fast. CashNetUSA promises to deposit money in your account on the same business day if you receive approval before 1:30 pm CT Monday-Friday. Applicants approved later in the day get deposits on the next business day unless more information is necessary.
• You desire an easy online application process—no need to run around locating, filling, and delivering paperwork. The entire application happens online.

Before applying for a CashNetUSA loan, it is crucial that you consider the substantial drawbacks.

What are the drawbacks of CashNetUSA?

You should consider staying away from a CashNetUSA loan or line of credit for several reasons.

High-interest rates

Almost all same-day online credit have one problem in common, high-interest rates. CashNetUSA charges a daily periodic rate on the amount you borrow, and APRs often reach triple digits. These absorbent rates often cause financial stress for consumers. Carefully review your options before moving forward with CashNetUSA or any other lender charging excessively high rates.

Rates vary by state

Your loan may attract a higher or a lower interest rate depending on where you live. When writing this article, a line of credit in Utah attracted a 299% APR. A 15% transaction fee is also applied every time you draw funds. The APR for a Tennessee flex loan was 229%-275.85% and attracted a daily customary fee of 0.56% - 0.69% (applied to the principal balance).

Not available countrywide

Some consumers cannot access loans for living outside the qualifying states.

Does not report to the major credit bureaus

You can lose precious credit history if you consistently pay on or before the due date.

CashNetUSA's saying, "Money's on the way," can be true in your case if the company approves you. You may soon be smiling with relief after a deposit notification.

Resolve debt and find financial freedom

As a responsible consumer, you should always pay attention to the high-interest rates and transaction costs accompanying easy money. SoloSuit does not recommend CashNetUSA for long-term credit. However, SoloSuit recognizes that some consumers find themselves with few options and need immediate access to funds.

If you have taken out high-interest loans, or have several loans that you are struggling to pay, SoloSettle, powered by SoloSuit, can help you settle your debts and give yourself a financial reset. SoloSuit also offers other options to help you resolve debt — whether you are trying to stop debt collectors, respond to debt collection lawsuits, push your case into arbitration, or settle.

We recently helped a real SoloSuit customer settle her credit card debt; check it out!

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to answer a summons for debt collection in your state

Here's a list of guides for other states.

All 50 states.

• Alabama
• Alaska
• Arizona
• Arkansas
• California
• Colorado
• Connecticut
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Minnesota
• Mississippi
• Missouri
• Montana
• Nebraska
• Nevada
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Carolina
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Vermont
• Virginia
• Washington
• West Virginia
• Wisconsin
• Wyoming

Guides on how to beat every debt collector

Being sued by a different debt collector? Were making guides on how to beat each one.

• Absolute Resolutions Investments LLC
• Accredited Collection Services
• Alliance One
• Amcol Clmbia
• American Recovery Service
• Asset Acceptance LLC
• Asset Recovery Solutions
• Associated Credit Services
• Autovest LLC
• Cach LLC
• Cavalry SPV I LLC
• Cerastes LLC
• Colinfobur
• Covington Credit
• Crown Asset Management
• CTC Debt Collector
• Cypress Financial Recoveries
• Delanor Kemper & Associates
• Eagle Loan of Ohio
• Educap
• Estate Information Services
• FIA Card Services
• Forster & Garbus
• Freshview Solutions
• Fulton Friedman & Gullace LLP
• Harvest Credit Management
• Howard Lee Schiff
• Hudson & Keyse LLC
• Integras Capital Recovery LLC
• Javitch Block
• Jefferson Capital Systems LLC
• LVNV Funding
• Mannbracken
• Mariner Finance
• Medicredit
• Michael J Adams PC
• Michael J Scott
• Midland Funding LLC
• Mullooly, Jeffrey, Rooney & Flynn
• Mountain Land Collections
• MRS Associates
• National Collegiate Trust
• Nationstar Foreclosure
• Northstar Capital Acquisition
• NCEP LLC
• NRC Collection Agency
• OneMain Financial
• Palisades Collection LLC
• Pallida LLC
• Paragon Revenue Group
• Pinnacle Collections Agency
• PMAB LLC
• Portfolio Recovery Associates
• Provest Law
• PYOD LLC
• Reunion Student Loan Finance Corporation
• Revenue Group
• Regents and Associates
• RSIEH
• Salander Enterprises LLC
• Second Round Sub LLC
• Security Credit Services
• Sherman Financial Group
• Suttell and Hammer
• T-Mobile
• Transworld Systems
• Tulsa Teachers Credit Union
• UCB Collection
• Velo Law Office
• Velocity Investments
• Waypoint Resource Group
• Weinberg and Associates
• Wolpoff & Abramson

Win against credit card companies

Is your credit card company suing you? Learn how you can beat each one.

• Bank of America
• Capital One
• Chase
• Credit One Bank
• PayPal Synchrony Card
• SYNCB/PPEXTR
• Synchrony Bank
• Target National Bank
• Wells Fargo

Going to Court for Credit Card Debt — Key Tips

How to Negotiate Credit Card Debts

How to Settle a Credit Card Debt Lawsuit — Ultimate Guide

Get answers to these FAQs

Need more info on statutes of limitations? Read our 50-state guide.

Why do debt collectors block their phone numbers?

How long do debt collectors take to respond to debt validation letters?

What are the biggest debt collector companies in the US?

Is Zombie Debt Still a Problem in 2019?

SoloSuit FAQ

If a car is repossessed, do I still owe the debt?

Is Portfolio Recovery Associates Legit?

Is There a Judgment Against Me Without my Knowledge?

Should I File Bankruptcy Before or After a Judgment?

What is a default judgment?— What do I do?

Summoned to Court for Medical Bills — What Do I Do?

What Happens If Someone Sues You and You Have No Money?

What Happens If You Never Answer Debt Collectors?

What Happens When a Debt Is Sold to a Collection Agency

What is a Stipulated Judgment?

What is the Deadline for a Defendants Answer to Avoid a Default Judgment?

Can a Judgement Creditor Take my Car?

Can I Settle a Debt After Being Served?

Can I Stop Wage Garnishment?

Can You Appeal a Default Judgement?

Do I Need a Debt Collection Defense Attorney?

Do I Need a Payday Loans Lawyer?

Do student loans go away after 7 years? — Student Loan Debt Guide

Am I Responsible for My Spouses Medical Debt?

Should I Marry Someone With Debt?

Can a Debt Collector Leave a Voicemail?

How Does Debt Assignment Work?

What Happens If a Defendant Does Not Pay a Judgment?

How Does Debt Assignment Work?

Can You Serve Someone with a Collections Lawsuit at Their Work?

What Is a Warrant in Debt?

How Many Times Can a Judgment be Renewed in Oklahoma?

Can an Eviction Be Reversed?

Does Debt Consolidation Have Risks?

What Happens If You Avoid Getting Served Court Papers?

Does Student Debt Die With You?

Can Debt Collectors Call You at Work in Texas?

How Much Do You Have to Be in Debt to File for Chapter 7?

What Is the Statute of Limitations on Debt in Washington?

How Long Does a Judgment Last?

Can Private Disability Payments Be Garnished?

Can Debt Collectors Call From Local Numbers?

Does the Fair Credit Reporting Act Work in Florida?

The Truth: Should You Never Pay a Debt Collection Agency?

Should You Communicate with a Debt Collector in Writing or by Telephone?

Do I Need a Debt Negotiator?

What Happens After a Motion for Default Is Filed?

Can a Process Server Leave a Summons Taped to My Door?

Learn More With These Additional Resources:

Need help managing your finances? Check out these resources.

How to Make a Debt Validation Letter - The Ultimate Guide

How to Make a Motion to Compel Arbitration Without an Attorney

How to Stop Wage Garnishment — Everything You Need to Know

How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)

Defending Yourself in Court Against a Debt Collector

Tips on you can to file an FDCPA lawsuit against a debt collection agency

Advice on how to answer a summons for debt collection.

Effective strategies for how to get back on track after a debt lawsuit

New Hampshire Statute of Limitations on Debt

Sample Cease and Desist Letter Against Debt Collectors

The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah

West Virginia Statute of Limitations on Debt

What debt collectors cannot do — FDCPA explained

Defending Yourself in Court Against Debt Collector

How to Liquidate Debt

Arkansas Statute of Limitations on Debt

Youre Drowning in Debt — Heres How to Swim

Help! Im Being Sued by My Debt Collector

How to Make a Motion to Vacate Judgment

How to Answer Summons for Debt Collection in Vermont

North Dakota Statute of Limitations on Debt

ClearPoint Debt Management Review

Indiana Statute of Limitations on Debt

Oregon Eviction Laws - What They Say

CuraDebt Debt Settlement Review

How to Write a Re-Aging Debt Letter

How to Appear in Court by Phone

How to Use the Doctrine of Unclean Hands

Debt Consolidation in Eugene, Oregon

Summoned to Court for Medical Bills? What to Do Next

How to Make a Debt Settlement Agreement

Received a 3-Day Eviction Notice? Heres What to Do

How to Answer a Lawsuit for Debt Collection

Tips for Leaving the Country With Unpaid Credit Card Debt

Kansas Statute of Limitations on Debt Collection

How to File in Small Claims Court in Iowa

How to File a Civil Answer in Kings County Supreme Court

Roseland Associates Debt Consolidation Review

How to Stop a Garnishment

Debt Eraser Review

Do Debt Collectors Ever Give Up?

Can They Garnish Your Wages for Credit Card Debt?

How Often Do Credit Card Companies Sue for Non-Payment?

How Long Does a Judgement Last?

​​How Long Before a Creditor Can Garnish Wages?

How to Beat a Bill Collector in Court