Loan Product

Line of Credit

How does a line of credit work?

  1. Apply only once online. It only takes a few minutes to apply and less-than-perfect credit will not necessarily keep you from qualifying for this convenient credit product.*
  2. Request draws at any time. Once your application is approved and the Line of Credit Agreement is executed, you can just login to your online account and request as much as you need up to your available credit limit. You can request draws as many times as you want, as long as you have available credit.
  3. Funds will be deposited directly into your checking account as soon as the next business day.

What do I need to know about a line of credit?

  • Account Balance: Your account balance, or outstanding balance, is the total amount due to CashNetUSA. This includes your principal balance, interest and fees charged.
  • Billing Period: Your billing period is the length of time between when your billing statement opens and closes. Depending on how often you’re paid, these periods might be bi-weekly, bi-monthly or monthly.
  • Principal Balance: Your principal balance is the amount you have drawn minus any principal payments you have made.
  • APR: APR (annual percentage rate) is a measure of the cost of credit, expressed as a yearly rate.
  • Minimum Payment: The minimum payment is the amount you must pay on each due date. This amount will depend on whether your billing period is bi-weekly, bi-monthly or monthly.

For more detailed descriptions and for information about the terms available in your state, visit our Rates & Terms page.

What time will the funds be in my bank account?

Monday through Friday: If you request a draw and it’s approved by 10:30 a.m. CT Monday – Friday, you will generally receive your funds by end of that day. If you request a draw after 10:30 a.m. CT, you will generally receive your funds from the lender by the next business day.

Friday 10:30 a.m. CT to Monday 10:30 a.m. CT: If you request a draw and it’s approved between 10:30 a.m. CT Friday and 10:30 a.m. CT Monday, you will receive your funds on Monday, unless it is a bank holiday.

Please note that when requesting your first draw, funding will be delayed until you confirm your email address. This confirmation request will only be applied to your first draw requested — all future draws will not require an email address confirmation. If you expect to receive funds on a certain day, but do not see the funds in your bank account, you should contact your bank’s ACH department.

What are my repayment options?

You may choose to make one or more of the following repayment options during any billing cycle:

  • Minimum Payment: Each billing cycle, you must pay all interest accrued at the end of the prior billing period, plus a percentage of the total of (i) the principal balance, (ii) the total balance of cash advance fees and (iii) any late fees.
  • Additional Payments: You may make payments in addition to your minimum, in any amount and at any time, by logging into your online account or calling 888.627.6463. Repaying your account balance early can reduce your interest.
  • Pay in Full: You may pay your account balance in full at any time without any prepayment penalties. Paying your balance in full will reduce your interest and reinstate your full available credit.

How do I know when my minimum payments will be due?

You minimum payments will typically be due according to the payment schedule you specify in your Line of Credit application.

You will receive an email notifying you that your your periodic statement is available online on the day after your billing period close date. The statement will specify your due date and minimum payment due.

To view your periodic statements, click on the STATEMENTS & ACTIVITY link on your online account.

Is there a fee to keep my Line of Credit open once I have paid my balance in full?

You may keep your revolving Line of Credit open indefinitely for no additional fee! To view your available balance and to make a draw, visit your online account at CashNetUSA.com or on our Android or iOS mobile application.

Application

Can I apply if I have less-than-perfect credit?

Yes. Less-than-perfect credit will not necessarily prevent you from qualifying for a CashNetUSA product.* Even if you have been turned down by other lenders in the past, we may be able to assist you in obtaining a convenient credit option that fits your needs.

What is a FICO® score?

FICO® Scores, created by Fair, Isaac and Company, are credit scores used by 90% of top lenders to help them make billions of credit-related decisions every year.1 FICO® Scores are calculated based solely on the information in consumer credit reports maintained by the 3 major credit bureaus – Experian, Equifax and TransUnion. By comparing your credit information to the patterns in hundreds of thousands of past credit reports, FICO® Scores estimate your level of future credit risk.

Credit Report inquiries to Experian, Equifax and TransUnion can negatively affect your FICO® score, especially if there are many in a short amount of time. With CashNetUSA, you need not worry about your application affecting your FICO® score, as we do not make an inquiry that would affect your FICO® Scores. Instead, we use information from alternative credit sources and scores.

1myFICO

How do I know that I have been approved?

You will receive an email notification once your application has been approved. CashNetUSA and the lender reserve the right to make adjustments to your approval until the time you receive the funds in your bank account based on new information regarding your application.

Do I need to fax or email any documents?

There are some instances where proof-of-income is required prior to your application being approved, including:

  1. If you receive alimony
  2. If you receive disability benefits
  3. If you receive social security benefits
  4. If you are self-employed
  5. If you reside in IL, NM, NV or RI

Proof-of-income may include a government benefits award letter or a recent bank statement displaying regular deposits. Please review our Rates & Terms page for more information about regulations in your state.

When will I receive my funds?

The receipt of your funds will vary based on the time at which your application is approved. You will receive an email notification once your application has been approved.

Monday through Friday: If your application is approved by 10:30 a.m. CT, you will generally receive your funds from the lender by the end of that day. If your application is approved after 10:30 a.m. CT, you will generally receive your funds from the lender by the next business day. For example, if your application is approved at 10 a.m. on a Tuesday, you will generally receive funds in your designated bank account by Tuesday afternoon.

Friday 10:30 a.m. CT to Monday 10:30 a.m. CT: If your application is approved between 10:30 a.m. CT Friday and 10:30 a.m. CT Monday, you will receive your funds from the lender on Monday, unless it is a bank holiday.

The exact time of funding depends on when your bank will post ACH (Automated Clearing House) credits to your bank account. If you expect to receive funds on a certain day, but do not see the funds in your bank account, you should contact your bank's ACH department.

Account

How do I update my customer profile?

To update your personal information, follow these steps:

  1. Login to your online account
  2. Under PROFILE, select EDIT to update your information
  3. Make desired changes and save

For any other questions about changing your account information, please contact our Customer Service Team via phone at 888.801.9075 or email at support@cashnetusa.com.

How do I change the email address associated with my account?

To update the email address on your account, email support@cashnetusa.com and include the following information in your email:

  1. State "update my email" in the subject line of the email.
    • In the body of the email, include:
      • CashNetUSA Customer ID;
      • New email address;
      • first name, last name and middle initial; and
      • phone number listed on the account.
    • Attach a utility bill to the email (i.e gas, electric or phone) that is less than 60 days old and that shows your name and current address.

    Please allow up to three (3) business days to process your request.

    How do I change my password?

    To update your password, follow these steps:

    1. Login to your online account
    2. Under PROFILE, select the CHANGE PASSWORD link
    3. Type in a new password and save. You can now access the site with your new password.

    What if I forgot my password?

    To reset your password, follow these steps:

    1. Select the FORGOT PASSWORD link under the customer login section on the upper right hand side of our website.
    2. Enter your email address and click the RESET PASSWORD link to have a temporary password delivered to the email address attached to your account.
    3. Once you log in with your new password, you will be required to update that password to something familiar to you. You must update your password to continue.

    Repayment

    How do I update my bank information?

    To update your bank information, you should contact our Customer Service Team via email at support@cashnetusa.com, phone at 888.801.9075 or by clicking the Chat With Us button. Please make all information changes at least two business days before your loan is due to the lender.

    If you have already applied for your loan, you will need to fax in a copy or photo of a voided check or bank statement for the new bank account to 866.413.3888. Also, please note if you are submitting a voided check, please do not submit Starter Checks, as we do not accept these as valid proof of bank information.

    How do I provide payment information to the Collections Department?

    For your protection, please do not email or fax any debit card or bank information to our Collections Department. Please call us at 888.801.9078 if you would like to set up a payment via debit card or any other method.

    What if I don't have the money in my bank account to satisfy my upcoming payment?

    We understand that sometimes life happens. We’re here to help! Contact us via phone or email at least two business days before your upcoming payment to inquire whether you are eligible for a payment arrangement.

    When I make a repayment, how soon can I receive another loan from the lender?

    The timing of when you will be able to reapply and receive funds after you have paid off your loan depends on your state of residence. You will be able to re-apply on your online account at CashNetUSA.com.

    Once you re-apply and are approved, you will generally receive your funds once your previous loan payment has successfully processed. You may be required to wait a few additional days if you reside in a state that mandates a cooling off period between your loans.

    Please refer to the Rates & Terms page of your state for more information.

    What is an ACH payment and how does it work?

    ACH stands for Automated Clearing House and is a form of electronic debit. When the lender presents an ACH request to your bank, it will send the specified amount of loan fees and/or principal to the lender that were outlined in your loan agreement. If the payment is returned for reason of insufficient funds, the lender may re-present the debit to your bank.

    I am a military servicemember and was called to active duty, am I entitled to any relief?

    The Servicemembers Civil Relief Act (SCRA) provides certain protections and relief to eligible active duty servicemembers, their spouses and dependents. For example, if a debt was incurred by the servicemember, or jointly with the servicemember’s spouse, before the servicemember’s active duty military service, the servicemember is entitled to have the interest rate on the debt reduced to 6% during the period of active duty service.

    For additional information on the SCRA, please visit https://s3.amazonaws.com/files.consumerfinance.gov/f/documents/cfpb_servicemembers-civil-relief-act_factsheet.pdf. If you are an active duty servicemember, or if you have questions regarding whether the SCRA applies to you or your loan, please contact our compliance department at escalations@cashnetusa.com.

    Why do I not receive emails from CashNetUSA?

    CashNetUSA uses email to keep you informed of your approval, repayment reminders and confirmation, promotions and more. This makes it very important that you receive all email communication from CashNetUSA concerning your account.

    To ensure you receive important emails from CashNetUSA, please take a moment to add our email address support@cashnetusa.com to your address book or to your SPAM "good list" or "whitelist". This helps your email provider recognize CashNetUSA as a trusted email source.If you are still not receiving emails from CashNetUSA, please contact our Customer Service Team.

    Fraud and Security

    How does CashNetUSA protect my personal information?

    We use a variety of different technologies such as VeriSign and McAfee to protect your data. Learn more at our Online Security Center.

    How do I identify potential fraud?

    Click here to access our Online Security Center where we outline tips for keeping your personal information secure and identifying and responding to potential scams.