About Lender
Centz, formerly Aspen Financial Direct, is an online loan platform that offers online installment loans. They were founded to make borrowing easy and user friendly and have become a go to for borrowers looking for fast and easy financing.
One of the best things about borrowing with Centz is the application process. Borrowers can apply online and complete the entire loan application without any paper work or in person meetings. This means borrowers can apply and get funded in days.
Key Features
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Quick Application Process. The company has a fully online application process that’s quick, easy and convenient. Borrowers can apply with an invitation code from the website at any time without any paper work or in person meetings.
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Pay Off Early With No Penalty. The lender allows borrowers to pay off their loans early so they can manage their finances and save on interest.
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No Hidden Fees. Centz is transparent with fees, no complicated language or hidden charges. Borrowers can see the cost of their loan, including fees and interest.
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Reports to Credit Bureaus. They report loan payments to credit bureaus so borrowers can build credit and improve their credit score.
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Fast Approval and Funding. Centz is fast with loan approval and funding, borrowers get funded in days. Perfect for borrowers who need fast and easy financing.
Pros and Cons
Pros
Easy Application. Application is simple, customer support is good.
Early Payoff. Borrowers can pay off early with no penalty.
Transparent Costs. No hidden fees, just interest on the loan.
No Credit Required. Good credit not required.
Cons
Pre-qualification Required. Borrowers must pre-qualify before applying for a loan.
High Interest Rates. Interest rates are high.
Reliabilty
Trustpilot Rating. Centz has a 4.4 rating on Trustpilot, good customer reviews and reliable service.
Entrust Verified. Company is Entrust verified, online security and customer privacy protected.
Licensed and Regulated. Centz is licensed by the New Mexico Regulation and Licensing Department, they comply with state laws and are an authorized lender.
Industry Reputation. With licensing, regulatory compliance and high ratings they show a responsible approach to online lending.
How to Apply for a Centz Loan?
To apply for a Centz loan, you must have an invitation code. If you haven't received one, check back as new applications will be accepted soon.
For those with an invitation code, follow these steps:
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Visit The Website. Go to the Centz website through your browser.
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Click Get Started. On the homepage, select "Get Started" to begin the account creation process.
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Enter Invitation Code (If Applicable). If you have received an invitation code, enter it in the designated field, then click "Get Started" again.
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Fill Out The Application. Complete the online application form with the required information
Conditions and Reqiurements
Conditions
Loan Amounts. Centz loans from $500 to $5,000 based on approval.
Repayment Terms. Repayment period for loans 18 to 24 months.
APR Rates. Centz APR 79%, 99%, 149% based on loan terms.
Requirements
Age. You must be 21 years or older to apply.
State. You must reside in a state where Centz services are available.
Employment or Income. You need to have a job or a regular income.
Checking Account. Active and valid checking account required; savings or prepaid accounts not accepted.
Email. A valid email address is required to receive account and loan information.
Ways to Recieve the Money
Centz has a streamlined process to get the loan funds to you. Once approved, Centz deposits the funds directly into your bank account. This is usually next business day, depending on approval time and your bank’s processing time. You can track your funds through your online Centz account, so you can see your loan disbursement details.
Products
Centz offers installment loans to help you meet your financial needs. These loans are unsecured, so you don’t need to put up any collateral to get the loan. This makes it easier and more accessible for you to get the funds you need. Centz has various loan options with different repayment terms and interest rates so you can choose the loan that fits your needs and budget. They also work with borrowers with less than perfect credit, they have options to help you build credit while getting the funds you need. With flexible loan options, transparent fees and easy application process, Centz is a reputable online lender and a popular choice for borrowers who need fast and reliable financing.
Other Personal Loans
Reasons for Loan Refusal
Centz may deny a loan for several reasons including insufficient income, high debt to income ratio, poor credit history which may indicate higher risk of default. Failure to meet specific requirements such as age or residency may also result to denial. Providing incomplete or inaccurate information on the application may also result to denial and residing in a state where Centz does not operate due to regulatory restrictions.
How to Repay a centz Loan?
Repaying a Centz loan is easy, with automatic electronic payments scheduled according to the loan terms. Payments will be deducted from your bank account on due date so you don’t have to lift a finger. You can also make extra payments or pay off the loan early, Centz does not charge prepayment penalty. For any changes or assistance with the repayment schedule, contact the support team.
Loans like Centz
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Rise Credit
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OneMain Financial
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Universal Credit
Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.
Editorial Opinion
Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability. Carefully review all the terms and conditions of your payday loan contract. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.Important
How to Choose a Lender