Netcredit

Netcredit – Credit Card Review

Netcredit is not a classic single-repayment payday loan, but a credit card with a revolving credit limit that you apply for online. The lender and card issuer is Fincard sp. z o.o., based in Warsaw, a Polish national payment institution. The agreement is concluded for a period of 360 days and automatically renews for further such periods unless either party terminates it. The product is aimed at people who need flexible, repeatable access to cash for the short term, rather than customers looking for a one-off loan for a large expense spread over installments. To use the offer, you need an account with a Polish bank, a regular monthly income and a positive credit history.

APR and cost of the loan

The Annual Percentage Rate (APR) of this product is 38.97% – this is the only binding measure of the full cost of the credit line, including interest and all fees. The maximum available credit line amount is PLN 20,000. The lender's website provides a representative example: for a credit line of PLN 1,000, the total cost of credit over the term of the agreement is PLN 290.06. This is an illustrative example under specific assumptions – the actual cost depends on how much of the limit the customer actually uses and for how long.

Terms and requirements

The agreement is concluded for a period of 360 days (approx. 12 months) and automatically renews for further 360-day periods unless the customer or the lender terminates it – this is an important difference compared to one-off payday loans, worth knowing before signing the agreement. Early repayment of all or part of the debt does not involve any additional fee, so the customer can close the credit line sooner without extra costs. The lender lists the following requirements: Polish citizenship, a valid ID card, an account with a Polish bank, a regular monthly income, an e-mail address, an active mobile phone and a positive credit history. The lender checks the customer in credit and business information databases, including BIK – so this is not an offer without credit history verification. To submit an application you need an ID card, access to a phone and e-mail address, and an account with a Polish bank.

How to apply

An application for the Netcredit credit card can be submitted online at netcredit.pl (around the clock) or by phone during Customer Service opening hours. The process is based on verifying the customer's identity and contact details, and checking the credit databases described above.

Summary

Netcredit is a credit card with a revolving limit of up to PLN 20,000 with an APR of 38.97% – this is the main indicator worth looking at when comparing this offer with other payday loans and credit lines. No fees for early repayment and a flexible, automatically renewed agreement can be convenient for people who need access to cash over a longer period, not just once. However, it's worth remembering that automatic renewal of the agreement means you need to terminate it yourself if you no longer want to use the credit line, and that using the offer involves a check in BIK and other credit databases, so people with a negative credit history may not obtain the credit line.