Personal Loans » Compare Loans » OneMain vs Mariner Finance vs Netcredit: Which Personal Loan Is Better?
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OneMain vs Mariner Finance vs Netcredit: Which Personal Loan Is Better?

NetCredit and OneMain are very good for providing fast access to funds, while these all offer small loans. Out of all of these offerings, OneMain stands out the most when it comes to its range of options.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Baruch Mann (Silvermann)
Baruch Mann (Silvermann)

Writer, Contributor

Experience

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

You can trust the integrity of our unbiased, independent editorial staff. We may, however, receive compensation from the issuers of some products mentioned in this article. Transparency is a core value for us, see how we make money.

In this Comparison

There is a multitude of different online lenders on the market today that can provide you with a quick and easy personal loan.

Here you will find a comparison between OneMain, Mariner Finance, and NetCredit. 

Mariner Finance
OneMain
NetCredit
APR
18.99% – 35.99%
18.00% – 35.99%
34.00% – 155.00%
Terms
12 – 60 months
24-60 months
24 – 60 months
Range
$1,000 – $25,000
$1,500 -$20,000
$1,000 – $10,000
Minimum Score
500
No Minimum
500

When OneMain Shines?

OneMain Financial offers personal loans online, as well as having more than 1,500 physical branches around the United States. You can choose between many different loan options, as well as quickly get your hands on your borrowed money.

OneMain personal loan can be a better choice than NetCredit and Mariner Finance if you:

one main financial logo
one main financial logo

When Mariner Finance Shines?

Mariner Finance is another lender that has both an online presence and physical branches. It often deals with people who might not have the best credit.

Mariner Finance personal loan can be a better choice than NetCredit and OneMain if you:

When NetCredit Shines?

NetCredit is an Enova International subsidiary that tries to look after the needs of customers who are seemingly underserved by other lenders.

NetCredit personal loan can be a better choice than Mariner Finance and OneMain if you:

netcredit personal loan
netcredit personal loan

Requirements

OneMain offers a decent minimum loan size but doesn’t have the biggest max loan around, with this range being $1,500-$20,000. This is close to the loan sizes that Mariner Finance offer, which are $1,000 to $25,000. NetCredit has a very small range of loan sizes starting at $1,000 and reaching $10,000.

OneMain, NetCredit, and Mariner Finance do not have an out and out minimum credit score for applicants or any income requirements. All three of these lenders will need the personal loan applicants to be 18 years old, in addition to either being a US visa holder, citizen, or resident

OneMain Financial - Pros & Cons

You can get a joint loan and secured loan through OneMain.

You will often receive your borrowed funds the following business day after you get approval for your application.

OneMain can provide you with a personal loan that is worth as little as $1,500.

 Unlike many online lenders, OneMain Financial operates physical branch locations across the country, providing in-person support for those who prefer face-to-face interactions.

With a OneMain personal loan, you will need to pay an origination fee. This can change depending on what state you are in and can start at 1% and go up to 10%.

OneMain Financial typically charges higher-than-average interest rates, especially for borrowers with lower credit scores, potentially increasing the overall cost of borrowing.

Maximum loan amounts are capped at $20,000 in most states, limiting options for borrowers who require larger sums.

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Mariner Finance - Pros & Cons

With Mariner Finance, you are able to get the likes of co-signed loans and secured loans.

You can quickly apply for a Mariner Finance personal loan online and get approval within 24 hours usually.

Mariner Finance does not have a specific credit score requirement and will consider applications from a wide range of types of people.

When you are initially seeing what Mariner Finance can provide to you, there will be no hard credit check carried out.

Mariner Finance operates in only 27 states, restricting access to their loan products for individuals residing outside these areas.

Mariner Finance's APRs can be higher compared to some other lenders, particularly for borrowers with good credit scores.

There will be times when Mariner Finance will require you to visit a physical branch in order to sign the loan documents.

 

NetCredit - Pros & Cons

You will often get your funds on the same day or the next business day after your NetCredit application has gotten approval.

Qualified borrowers may have the opportunity to refinance their existing NetCredit loans for potentially better terms and rates.

When you initially look to see what NetCredit can offer you when it comes to a personal loan, there will only be a soft credit pull.

You will be able to change your payment dates with NetCredit.

The max loan you can get from NetCredit is just $10,000 which is quite low.

Late payments may incur a fee of around $25, which can add to the overall cost of the loan and negatively impact the borrower's credit score.

NetCredit will usually have rates of interest that are quite high.

Repayment Options

OneMain gives you the ability to set your preferred payment date and to change this payment date as you please for your personal loan. You will not be able to get an autopay discount with OneMain, NetCredit, or Mariner Finance. However, there are also zero late fees in place.

Mariner Finance does not allow you to change the payment due date for your personal loan, but NetCredit does. NetCredit also does not have any prepayment penalty in place, while it also offers a hardship plan.

Customer Experience

OneMain Financial
Mariner
NetCredit
iOS App Score
2.8
4.6
N/A
Android App Score
2.8
4.4
N/A
BBB Rating
A+
A+
B-
Contact Options
phone
phone
phone/mail
Availability
7 am – 7 pm (CT)
9 am – 5 pm
8 am – 8 pm (CT)

OneMain offers fast loan processing and access to funds, along with financial education resources and weekday customer support. Their mobile app aids in managing loans, and they hold an A+ BBB rating.

Mariner Finance approves applications within 24 hours, disbursing funds shortly after, but availability varies by state. They lack extensive customer support and a mobile app, and although they hold an A+ BBB rating, they are no longer accredited.

NetCredit offers various customer support options and educational resources but lacks a mobile app and BBB accreditation.

Which Personal Loan is The Winner?

All three of these lenders have a lot of similarities. They each cater to people with poor credit scores and can have quite high rates of interest.

NetCredit and OneMain are very good for providing fast access to funds, while these all offer small loans. Out of all of these offerings, OneMain stands out the most when it comes to its range of options.

FAQ

While you may be able to obtain a loan for up to $15,000 online if the amount exceeds this or there is some issue with your application, Mariner Finance requires an in person visit to a local branch. You’ll need to bring supporting paperwork with you and discuss your loan requirements with an agent.

Mariner FInance is a good option if your debts have compromised your credit score and it has now dropped to the point where you may struggle to qualify for another loan.

You can borrow up to $25,000, but there are no specific debt consolidation features such as direct payments to creditors. So, if your credit score is good or excellent and you are simply looking to restructure your debt, this may not be the best option for you.

Yes, it is possible to prequalify for a Mariner Finance personal loan. You can use the website to check your rate and see if you can qualify for a loan without impacting your credit. Mariner Finance will use a soft credit check to process this inquiry. However, some applicants may be directed to contact their local branch without seeing any offers.

Netcredit is a bad credit lender, so it has no specific credit score requirements. However, this comes at a cost of high rates. For this reason, while you may be able to obtain a Netcredit loan with your 600 credit score, you may find there are better alternatives in the marketplace that offer a better deal.

Since Netcredit is a bad credit lender with no credit score requirements, they are often a last resort for many applicants. As such, they are highly unlikely to be willing to negotiate on rates when you’re looking for a loan.

However, if you have an existing Netcredit loan and want to negotiate a settlement, you have nothing to lose by trying.

It is possible to prequalify for a Netcredit personal loan and check your eligibility and rate. This process only uses a soft credit check, so there is no worry about it impacting your credit score.

A hard credit check will only be triggered if you decide to go ahead with a loan.

More Personal Loan Reviews

Compare Alternative Lenders

Each of these three lenders will be appropriate for a different type of person. OneMain is generally beneficial for accepting applications from people with less-than-perfect credit.

SoFi, on the other hand, caters to people with good credit who are looking for large loan amounts. Happy Money is somewhere in the middle, and it gives you quick access to your borrowed funds.

Read Full Comparison: Happy Money Vs SoFi Vs OneMain: Compare Personal Loan Providers

LendingClub is a peer-to-peer online lending marketplace that prefers to work with people who have poor credit. The California-based company has over three million customers in the United States.

Avant is a Chicago-based lender that provides personal loans to people with bad credit. It also gives you quick access to funds as well as flexible repayment options. While OneMain is an online lender, it also has over 1,500 physical locations throughout the United States. This lender offers quick access to funds as well as a variety of loan options.

Read Full Comparison: OneMain Vs Avant Vs LendingClub: Which Personal Loan Suits You Best?

Both of these lenders make it possible for people with bad credit to obtain a personal loan. OneMain's offering is a little more limited, with loans that are relatively smaller in size but with more flexible repayment term lengths.

Read Full Comparison: OneMain Vs Upstart: Compare Personal Loan Providers

Picture of Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Baruch Silvermann is a financial expert, experienced analyst, and founder of The Smart Investor.  Silvermann has contributed to Yahoo Finance and cited as an authoritative source in financial outlets like Forbes, Business Insider, CNBC Select, CNET, Bankrate, Fox Business, The Street, and more.
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