Review of CashNet USA

CashNet USA

CashNet USA owns a reputation of excellence and dignity as the leading online lender of America offering three types of loan products across 30 states of the country. Since the start of its journey in the year 2004, the company has released the stress of more than 2 million borrowers experiencing financial emergencies.

Types of Loans from CashNet USA

The company offers three types of loans to borrowers with distinctive characteristics and state availability. The three loans are:

Payday Loans: This is a small amount borrowed at a very high interest rate. The minimum and maximum loan amount depend on the state and you have to pay both the principal amount and the interest by the next payday. The state availability of this loan includes Alaska, California, Florida, Hawaii, Maine, Washington, Ohio, Rhode Island, and few more to add to the list.
Installment Loans: The minimum and maximum loan amount and loan tenure vary from state to state. The approval of your loan amount also depends on how frequently you are capable of making the repayments and what is your financial status. The state availability for this loan includes California, Mississippi, New Mexico, Ohio, Texas, South Carolina, and a couple more in the list.
Lines of Credit: This is available in Idaho, Utah, Virginia, Kansas, and Alabama. Funding and repayments are more flexible and productive. For loan repayments, you have the option of making monthly payments, a lump sum amount, or making the complete payment of the outstanding amount.

Rate and Terms

• Loan Amount: $255 to $500
• Loan Fees: $10 to $45 per $100
• APR: 205% to 800%.
• Loan Terms: 2 Weeks to 15 Months

Requirements for Eligibility

To qualify for borrowing from CashNet USA, you should have the following requirements:

• You should be a citizen of America or a permanent US resident
• Your minimum age should be 18 years
• You should have an active checking bank account
• You should have an active email address
• You should have a valid government authorized id proof like driving license
• You should have a regular income source with a fixed monthly income

Application Process

This is the best source for fast cash without any credit check in case of financial crisis. The steps for application and approval are as follows:
• First, create an account using basic personal details and other details using valid identification proof.
• In the second phase of filling the application form, please enter your financial details and work information along with the loan amount you require.
• If you qualify for the loan, the company will take the funding decisions in a couple of minutes and approve your loan.
• Once approved, you need to sign the loan contract and within the next 24 hours, the company deposits the loan amount in your account.

Pros and Cons of CashNetUSA


There are ample benefits of borrowing instant cash and fulfilling your financial emergencies from CashNetUSA. Some of the key advantages are:

• It does not require any credit check and verification of the credit score. With this, benefit even the consumers with bad credit or low credit score can enjoy the benefit of funding in case of emergencies.
• The process of online application for a loan is quick and after approval, the amount is credited to your checking account the next business day.
• You have the freedom to use the approved funds for any personal or business purpose with very few restrictions under certain specific situations
• These are unsecured loans and hence do not require any collateral for the guarantee.
• There is an online application available 24/7 with round the clock support.
• You are eligible for instant funding decision after a reliable application is sent through the digital medium.
• There are no hidden charges or fees associated with any financial transaction or borrowing through the online medium.
• The company beholds a certified license for the lending services in all states where it operates.


Apart from the benefits, CashNet USA has certain disadvantages like:

• The main drawback of CashNet USA is the high-interest rate that goes to a high ranging APR of around 91.2%. With this downside, it indeed is not the preferred choice for consumers, but the benefits make it a thought worthy decision.