CashNetUSA is a payday lending company that also specializes in installment loans, Credit Services Organization, Line of Credit, Credit Access Business loans, and loan matching services.
As a national payday loan company, CashNetUSA takes into account the laws of each individual state their clients may live in. Because of this, they don’t offer all services in every state. You must look at their state guide to see what services are offered in your home state.
In order to be eligible for a payday loan or payday advance from CashNetUSA.com, you must be a citizen or permanent resident at least 18 years of age, with an active checking account, who has been employed for at least one month.
Payday loans, or payday advances, are short term loans given to people who can verify they have a regular income and a checking account. Credit scores and equity will not be taken into account.
These loans must be paid back very quickly, generally on your next scheduled payday, and carry very high interest rates and loan disbursement fees.
Many times payday loans can be so high they make it difficult for borrowers to reasonably pay back the money according to the loan terms. This has made payday lending and payday lenders the subject of much criticism and scrutiny.
Is CashNetUSA Different?
CashNetUSA claims to strictly follow all the laws and regulations put into place by the state in which you live. For some people, this is important because certain states have made laws which significantly benefit those looking to borrow payday loans, often limiting the interest rates and fees that can be charged.
But other states have very relaxed laws regarding these loans, and therefore it is up to the borrower to make sure they understand all the borrowing terms and fees before they accept any loan.
For those who do choose to use CashNetUSA for payday lending or short term installment loans, they do have a Preferred Member Savings program that all clients are immediately enrolled into.
In the future, if you need to use CashNetUSA for another loan, you can use your membership number to be eligible for savings on your loan fees.
Note: If you’re interested in learning more about Payday Loans check out our detailed guide, “Payday Loans Explained: Should You Ever Get One?” for more info.