What does NET CREDIT mean on my credit report?

Learn about NET CREDIT, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is NET CREDIT?

NET CREDIT is shorthand for NetCredit, with the company name being NetCredit Inc

In partnership with Republic Bank & Trust Company, we can provide you with personal loans and financing for items such as furniture, equipment, vehicles, business opportunities, real estate and other related expenses. Your application may be reviewed and processed by Netcredit who will handle accounts directly with our bank partners.

NET CREDIT is a Creditor provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with NetCredit.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average account balance is $1200.

  • ⚫ The average high credit balance is $4200.

  • ⚫ The average monthly repayment is $100.

The account is classified under the following METRO2 categories:

  • ⚫ Collection Agency/Attorney
  • ⚫ Unsecured

How do I contact them?

Here is the current contact details for NetCredit:

Address:

  • P.O. Box 206766 Dallas, TX 75320-6766

Website:

Email:

Phone:

Payments

NetCredit offers personal loans and lines of credit that can be paid for using various methods, including online, mobile app, phone, check, money order, and prepaid debit card. There are penalties for late or missed payments, including additional fees and negative credit reporting.

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? Yes
Can I make payments online? Yes
Do they offer a discount for automatic payments? No
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

NetCredit does not offer loan forgiveness or consolidation. To qualify for loan forgiveness, you must be 18 or older, have a valid personal checking account, active email address, and a verifiable source of income.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

NetCredit offers personal loans and lines of credit and provides resources and information related to COVID-19. You can apply for a loan online, in person, or using a mobile app. Loan requirements, fees, and APR may vary depending on the type of loan you apply for.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? Yes
Can I apply for a loan using a mobile app? Yes
Can I apply for a loan with a cosigner? Yes

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

NET CREDIT IdentityIQ Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

How do I remove NET CREDIT from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.