Complaint Review: CashNetUSA
CashNetUSA Better off asking for money from the mafia- they appreciate customers paying early in full Nationwide
On Oct. 14, 2014, I had an emergency and needed to borrow money for 30 days. I decided to try CashNetUSA. I borrowed $900.00. I was told the loan would be $1135 total. I thought it was a little steep, but assumed that since I was paying in full after the first intial payment due date, I would be entitled to a generous reduction in interest.
On Oct. 31, the first payment of $221.60 was debited from my account. On Monday, November 10, I paid the balance ($980.64) in full. Because of Tuesday being a holiday (Veteran's Day), they did not debit my account until Wednesday, the 12th. Today, the 13th, I still see that my $980.64 is 'prccessing'. When I chatted online with Christopher, CashNetUSA's rep, he said it would take 2 business days to process but it would show on Friday, the 14th after 3 p.m. CST.
When I asked if I would recieve a refund for interest since I had paid in full less than a month since I had obtained the loan. He said I was not being refunded anything. I questioned him, as I was assured that my total loan would cost $1135 for the ENTIRE loan term and I had paid in full within a month. He said that he was sorry, that I was mistaken, and that there would be no refund.
My calculations state that I paid $1202.24 for a 29 day loan of $900.00. Had I known that I would have asked a friend or family member to loan me the money with a reasonable amount of interest. So, essentially I paid $302.24 to use $900 for a month. I PAID OVER 33% IN INTEREST. Does that seem right? This looks awful d**n fishy to me.
This report was posted on Ripoff Report on 11/13/2014 12:03 PM and is a permanent record located here: http://www.ripoffreport.com/reports/cashnetusa/nationwide/cashnetusa-better-off-asking-for-money-from-the-mafia-they-appreciate-customers-paying-e-1188694. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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