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CashNetUSA is dedicated to helping individuals get the funds they need, even when they have less-than-perfect credit.† To fulfill that goal, we use national databases like Clarity to look at your financial history instead of checking your traditional credit score. If you meet our lending criteria, you may well be approved for a personal loan.
At each of the three major credit reporting agencies — Experian, Equifax and TransUnion — you have a file that contains details about your financial history. This file includes positive information, like repaying your bills on time, and negative information, like defaulting on loans. Using that information, each agency gives you a number — your credit score — that represents how safe it is to lend money to you.
The important thing to understand about all of this is that your score is the result of your financial history — the way you’ve behaved with loans and credit in the past determines how likely businesses are to advance you money in the future.
In reality then, it’s not someone’s credit score that prevents them from getting a loan: It’s the behavior — and the record of that behavior — that led to the score in the first place.
The question of whether you can get a loan with “bad” credit or “less-than-perfect” credit is usually not the right one. As discussed above, your credit score is just a reflection of your past financial behavior; it is that behavior that companies are interested in when they decide whether to lend you money.
Someone with a low credit score might have a history of defaulting on debt. If that is the case, it won’t matter whether a lender looks only at their credit score or at their full financial history — they are unlikely to get a loan until they demonstrate more responsible behavior over a substantial period of time.
On the other hand, someone with middling credit might have started building their credit history very recently, or might have had trouble paying bills several years ago with no problems since then. In a case like this, looking at the customer’s financial history rather than just their score might reveal that they are now a viable candidate for a loan.
It’s important to remember that individuals with lower credit are riskier to lend to — the lower the score, the riskier they are. This risk translates to more expensive loans. Even if you are able to get a loan with less-than-perfect credit, it will very likely cost you more than a loan you could secure with better credit. If a lender claims they can give you a cheap loan regardless of your credit, you should be careful that they aren’t trying to con or take advantage of you.
There are a few conditions you must meet in order to successfully apply for a CashNetUSA loan. Before anything else, you should make sure that we offer loans in your state! Check our Rates & Terms page to see what we offer where you live. Keep in mind that we don’t operate in every state.
If you decide you’d like to apply for an online loan from CashNetUSA, check that you meet the following requirements:
You must be 18 or older
You must have been employed for at least one month
You must have an active checking account
You must be a U.S. citizen or permanent resident
If you satisfy these conditions, you can head to our application and see if you qualify for a loan today!
One of the best things about our loans is how easy it is to apply. You just need to give us a few simple personal details like your address, current employment and bank account number. We’ll use that info to check your financial history and make our decision — often instantly!**
If you have any further question about your application or about CashNetUSA in general, don’t hesitate to contact us. Our U.S.-based customer support team is ready to talk via email, phone and online chat.