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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Credit Central's pay off


The amount that you have to pay each month depends on the term of your loan, interest rate, and other previously agreed upon conditions. Due dates depend on the date of the initial payment and are monthly. In other words, you will be required to make monthly installment payments.

Credit Central offers three ways of paying back: via the phone, via the web, and at a local branch. If you want to make your scheduled payments by phone, you will have to get in touch with your local office and arrange a debit card payment. In order to pay online, you will have to create an account and then log in to transfer funds. There's a non-refundable fee of 3.5% in certain states, so you have to be careful when choosing how to do it online. The most straightforward way of paying back your installment loan is by visiting one of the offices and making a payment in person.

Early payoff

There is no clear indication of how the company will behave in case you opt to pay off your loan earlier than scheduled. The most likely scenario is that there's an option to pay the loan off earlier and that there's no prepayment penalty. All the penalties will be disclosed and listed in your loan agreement. Review it carefully before paying your loan early.


Can I pay Credit Central with a credit card?

It's possible to pay Credit Central with a debit card in Tennessee, Alabama, and Texas. You will be required to create a web account to make payments.

Can I skip a payment with Credit Central?

It is not advised to miss out on scheduled payments with any lender, including Credit Central. The information regarding penalties for late payments and default is not available on their official website.

How do I pay Credit Central?

There are three convenient ways of paying off your Credit Central loan. You can do it online, by phone, and in person. Each method has specifics, so it's best to choose the one that works best for you.

Financial products

Credit Central
Installment Loan
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
depends on the state

Effective interest rate on the product

depends on the state

Loan term for the financial product

depends on the state

What to focus on before applying for a loan with Credit Central

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Credit Central and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Credit Central’s reviews by October 2022
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