Frequently Asked Questions

Application

- You are at least 21 years old
- You live in a state we service
- You have a job or regular source of income
- You have an active and valid checking account (savings and prepaid accounts not accepted)
- You have an email address to receive account information
If you received an invitation code in the mail, you meet our initial criteria for a loan. You can quickly and easily apply online. If you didn’t receive an invitation code, please check back. We’ll be accepting new applications soon.
“Pre-selected” means you’ve met our initial criteria to qualify for the offer of credit. Pre-selected doesn’t mean you’re guaranteed to receive a loan. When you respond to this offer, we’ll confirm you continue to satisfy the pre-selected criteria, including income requirements, and will verify the information you provide in your application. False or incorrect information in the application or failure to continue to meet the pre-selection criteria may result in a delay or denial of your application.
If you received an offer in the mail, you can quickly and easily apply online.
As a responsible lender, centz™ doesn’t want you to have payments that are too high or put additional strain on your finances. Our final offer takes into account the income you entered on the application, and we may offer you a lower amount to ensure the payment is affordable
The results will typically be available to you in a matter of seconds after you submit your application. In some cases, we may need to ask for additional information or proof of income before your application can be approved. In the event we are unable to approve your application, we’ll provide you a Notice of Adverse Action.
Due to the changes in the Military Lending Act effective October 3, 2016, centz™ is not available to applicants listed as Covered Borrowers in the Military Lending Act database, including qualifying active duty service members and their dependents as defined in 32 C.F.R. § 232 of the Military Lending Act.

Loan Information

Our loan approval amounts range from $500 to $5,000 – depending on the laws of your state. Returning customers may be eligible for an increased loan amount depending on their payment history and the affordability of the amount requested
The amount you’re approved for is determined based on your state of residence, our assessment of what you can afford and your credit history. State laws may impact the minimum and maximum loan amounts we offer. To understand the loans that we offer in your state please visit our Terms and Conditions and Rates and Terms pages.
If we receive your application by 6pm ET and you are approved, we can typically deposit your money into your account electronically as early as the next business day (M-F excluding bank holidays). You can contact the ACH department of your bank to verify that the funds have been credited to your account. If you prefer, you can request a paper check. If a paper check is chosen please allow 8-10 business days for delivery via the USPS. Applications received after 6pm ET are processed the next business day.
When you’re approved, your first payment date and re-payment schedule are determined from your application information.
Refer to your mail offer for details about your pre-selected loan terms. It’s important to remember that centz™ may not be the least expensive credit option and may not be the best option for you. To understand how our rates compare to other options check out our Rates & Terms page.
You have 3 business days from the date you signed your loan agreement to change your mind. If you decide our loan isn’t right for you, call Customer Support at (877) 293-2987 and tell us that you no longer want the loan. You will repay the principal and will not be charged any fees or interest.
No, you must pay off your current loan before applying for a new one.
Existing customers need to Sign In to their account to apply for a loan. You must wait 1-10 days (depending on the payment method) after paying off your previous loan before you can reapply.

Payment Information

For your convenience, if you have chosen to receive your money via electronic deposit (ACH debit), your payments will be electronically debited from your checking account. If you have chosen to receive your funds by postal mail, your payments must be received by our office by 5:00pm ET on the payment due date. Contact Customer Support to make any other payment arrangements.
centz™ does not have any prepayment penalties, and we encourage you to pay back your loan early and save on the cost of your loan!
Please contact Customer Support if you’re unable to make a payment by the due date. In most states, charges will continue to accrue on overdue amounts when you miss a payment.
If you want to change your ACH authorization please contact Customer Support.

Refinance

Customers may become eligible to refinance their loan by making on-time payments over a period of time. Customers that may be eligible to refinance their current loan will be notified by email and invited to apply. centz™ may obtain information from TransUnion and Clarity, which will be a hard inquiry and affect your overall credit profile. Some states are not eligible for refinance.
Refinance offers customers the ability to pay off their existing loan balance with a brand new loan. The remaining proceeds may be sent to the customer as soon as the next business day. * Customers that are approved for a refinance may be eligible to receive more money. *Applications processed and approved before 6pm ET are typically funded the next business day.
Since you are getting a new loan, your APR, loan schedule, and payment amount may change from what it is currently. You can review this complete information when you sign your new loan agreement.
Refinance approval is based on your application information. Subject to affordability, some customers may qualify for a larger loan amount than the current loan.