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. 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. 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:. Because CashNetUSA specializes in short-term loans, the full payoff amount will typically be due on your next scheduled pay day. 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:. 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: 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.
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. Enter your email below to get started! I have been trying to get an installment loan online. I tried so many websites that I couldn't keep track. These people need to go back to their own country and scam their own people.
And no, I didn't fall for it. No, I would not recommend this to a friend. Do you have an account? Log In before commenting. I have been hung up on many times when trying to get information as to why this company only takes out payments of interest and doesn't add this to principle.
I closed my bank account and deleted them from sending me any more mail. I have had to change my phone number because of incessant calls.
I found myself in an emergency situation where I recently been diagnosed with a disease that is causing you be on short-term disability from work for 6 months. Anybody knows short-term disability does not pay you enough to live the life and pay your bills, so I was looking for a loan to try to help me get ahead while I tried to get my income back to what it was prior to me getting sick.
I called them and the guy that I spoke to was very rude, spoke broken English, and hung up on me. I then called back to ask to talk to his supervisor and he said he doesn't have a supervisor.
I didn't trust him, especially after he said he was going to talk to his Finance department and call me back. I then received a voicemail that was three minutes long that was him talking to another person about their loan and their personal information that immediately sent up a red flag. I called back and asked to speak to his supervisor. He was once again told me he didn't have a supervisor and he said he needed me to hang up. I said, "no, I'm not going to hang up, I want to talk to your supervisor because I don't believe you're going to delete my information like you said, considering you left a three-minute voicemail on my phone with you talking to somebody else about their information.
He proceeded to deny that. I then finally just hung up and I'm not writing this review because this company is an absolute scam. Do not trust anything they say, keep track of the text messages, and report them to the Federal Trade Commission or wherever you needed to report them because they are absolutely fake.
It started with a text message stating I was approved for a loan. So I called to inquire, and the foreign person who answered said his name was James Robinson.
I told him I was calling about being a loan I was approved for. He asked who sent the messages, so I told him. Well, he pretended to be trying to reach the person, but they were unavailable. So he said he could help. He then went into about me having to finish filling out an application, what my payment would be, and other details. He sent a link. I then proceeded to fill it out. After which I had to call him back. This app asked for all my login info to my account.
Because of this I had got skeptical. I should have taken heed because he then came back and said because my credit score was low, I would then have to do a verification of funds by them depositing some money, and I would have to send it back at 7 am.
I agreed to do it, but I let him know I didn't trust it. I had been scammed before like that. He said he understood and went about trying to ensure me it was legit.
They deposited a check with the name of World Finance Corps, and my name was spelled wrong. I am just so glad my bank caught on to it. They accepted the deposit, but then they reversed it. Thank you Wells Fargo! Otherwise, I would have been out of the money. Well, needless to say, when I told them this they tried to tell me I had already withdrawn some money.
I told them I didn't. He then threatened me with the police. I then received a threatening text message. I responded with one telling him I was going to report this scam. Once they had all of my information I was then told that one of their requirements for this loan is that I had to have online banking which I did not.
So I set up online banking then they told me they needed my ID username along with my password to my online banking account. It did not sound legit. Again, being my first time going through this type of process, I went ahead and gave them that information. That's when I realized I had almost screwed completely up. Now I have to run straight to my bank, sit down with a representative, explain the entire process, and ask my bank what is this a legit company or was it a scam.
Once again they had all my information so my bank pulled up CashNetUSA on Google and it said that it's fraudulent company. I almost made the biggest mistake of my life. Do NOT use this company or you can lose everything you've worked so hard for.
The real Cashnet is a perfectly good company. You got involved with a scammer that claimed to be Cashnet.
I would like to know how these people just authorize loans without verifying identity. There was a loan pulled out with my info. This is crap, and I'm responsible to pay this joke back. The employees and address listed have not been valid for months!
This guy named Jack William is a robber. Don't pay it back. They can't collect, so call the credit bureau and alert your bank or close your account. I had to close my bank account and change my phone number, etc. This is a total scam! These people call claiming to be the real CashNet. They are from foreign countries and speak broken English. They are using "burner" numbers to call you on. I'm sure half of them have no idea where the location of the number is.
Then he said it would be in my account in two hours. Well it wasn't so I called back, and he said they didn't do it because I couldn't be trusted! Yea, ok, uh, you got all my info, but I can't be trusted. Thankfully I knew this was a scam from the start. Do NOT use them. I got another call from another burner number, and this guy was Peter with the same agenda. You weren't dealing with the real CashNet company. You shouldn't disparage the company just because a scammer fooled you.
I've called multiple times to speak to someone, and how they left it was, they would give me a call back. Someone finally called back and told me that my first three payments didn't even go to my installment loan!
It went to "fees. I understand it was my decision to take the loan, however NOWHERE did their website tell you there would be that high of an interest rate, that many fees to where it's not even affecting the loan, and how much the total loan will be, UNTIL you sign your documents.More...