CashNetUSA Payday Loan Review

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  • Bad credit history welcome
  • No early repayment fee
  • Applicants only need to have been employed for one month

CashNetUSA is an online financial institution which operates in the credit provision segment. 

By Editorial Team | 2nd January 2019

The firm offers its clients different lines of credit and specializes in payday loans. The firm, which is a brand of Enova International, and has been operational for over 10 years, was among the first licensed short-term direct lenders within the United States. Currently, in addition to being publicly traded on the New York Stock Exchange, its reach has grown to over 30 states and through the scaling capacity of its online platform, it has become one of the largest online lenders within the country. Moreover, its broad product line ensures clients have a variety to choose from when accessing their products.

What is involved in the application process?

While loan applications remain a rigorous and tedious process for many, CashNetUSA online payday loan applications are a five-minute process. Its easy application form requires that the applicant fills in their name, email address, details of an active checking account and their social security number. An email is sent to the applicant immediately afterwards.

How much can you borrow and how long can you borrow for?

Lending limits are driven by state laws and thus vary by state. CashNetUSA’s pricing options allow for loans up to $3,600 – however, this is only available in one state: California. The amount one receives, moreover, depends on a number of factors such as the state one lives in, one’s credit score and the amount needed. Unlike other credit providers, CashNetUSA provides a listening ear to individuals who have no other credit provider, welcoming bad credit holders to their system too.

What is the monthly repayment and total payable amount?

The repayment amounts and total payment are dependent on the amount borrowed. However, the firm has made provisions for repayment of loans to last between 6 and 18 months. Moreover, the firm charges no early payment fees, allowing for individuals to clear their loans prior to the stipulated contractual period.

What fees are involved and what is the interest rate and APR?

The amount of interest charged on the loan, just like the loan term and amount, is dependent on the aforementioned factors. While this is the case, fees on the loans – interest rates – lie between 4 and 10 cents on the dollar. Furthermore, in order to ensure no hidden fees, the firm has continued to publish its annual percentage rate which also lies between 205% and 800%. This is also pegged to the interest rate on the specific payday loan.

What are the eligibility requirements?

Legally, any applicant needs to be above 18 years of age. In addition, when applying, applicants need to have a valid driver’s license as well as either being a US citizen or permanent resident in the country. Finally, there needs to be proof that the applicant has been employed for at least one month.

Are there any additional features?

Due to the rigorous checks carried out by the company in authenticating the application documents, the firm is therefore able to effect fast cash transfers. Loans are quickly transferred to clients, with the firm’s policy being that loans are generally sent out a day after application. This is, however, pegged to the verification of the initial application documents and information.


CashNetUSA has grown to become the largest providers of credit facilities in the USA. Its flexible payment plans and fast and efficient cash transfers allow for individuals to receive their loans a day after application, ensuring you never miss out on much-needed cash. Furthermore, the transparent repayment terms also ensure that clients clearly understand what they are getting into and ensure clients don’t feel cheated. What’s more, its wide reach due to its web and mobile platform will allow one to obtain a loan from many states. With this, the success of both the clients and the company remains assured.

Reviewed by
Editorial Team
Our Editorial Team is constantly watching for new and exciting services to report on. They aim to bring balanced, honest reviews to the site to give you the best comparisons and ensure you have the knowledge to choose the product right for you. Read more.
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