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Frequently Asked Questions

LC FAQ

Can I prequalify with a frozen or locked credit file?

No. You’ll need to unlock your credit or temporarily lift your freeze before you can prequalify with LoanCenter.

How secure is my information?

Your information matters. We use security measures designed to help keep your information protected, and we’re transparent about how it’s used. Read more in our Security Policy.

How fast could I get my loan funds?

It depends on the lender. Many can fund within 24–48 hours after you're approved, and some may offer same-day funding. We show you the estimated funding time for each offer, so you can find an option that fits your timeline.

What information do I need to get started?

Just a few basics: how much you’re looking for, your employment status, estimated annual income, and some information about your credit. We’ll use that information to check for prequalified offers. It takes about 2 minutes, and you won’t need documents or bank statements to get started.

What credit score do I need?

There's no minimum score to check your options. LoanCenter works with lenders that serve a wide range of credit profiles, including people who are rebuilding their credit. The offers you see are based on your information—not just your credit score.

Will checking my options hurt my credit score?

No — not at all. We use a soft credit pull to match you with real offers without affecting your credit score. A hard pull only happens if you decide to move forward and apply directly with a lender. That’s always your call.

What's the difference between a personal loan and a credit card?

Credit cards are revolving — you can borrow up to a limit, repay, and borrow again. The balance and payment can change month to month. Personal loans are installment — you borrow once and repay in fixed monthly payments until it's paid off. This makes budgeting more predictable.

Who is LoanCenter?

We’re here to make borrowing simpler. LoanCenter is a marketplace that helps you explore loan options from our network of lending partners—all in one place. We’re not a lender, so you can see what options may be available before deciding what’s right for you.

Can a personal loan help my credit score?

It can, as a side benefit — not a guarantee. Personal loans are installment accounts, which are a different credit type than revolving credit cards. Having both types can positively influence your credit mix, which is one factor bureaus consider. Making consistent, on-time payments over the life of the loan is the most reliable way a personal loan can support your credit profile over time. If you use a personal loan to pay off credit card balances, your credit utilization rate may also drop — which can have a more immediate positive effect on your score.

How much can I borrow?

Personal loan amounts typically range from $1,000 to $50,000. The amount you're offered depends on your income, credit profile, and the lender you're matched with.

Will checking my rate affect my credit score?

No. Checking your options on LoanCenter uses a soft credit inquiry, which doesn't impact your score. A hard pull only happens if you choose to formally apply with a lender.

What is a personal loan?

A personal loan is a fixed amount of money you borrow and repay over a set period with equal monthly payments. Unlike credit cards, the rate and payment don't change once you're approved. Most personal loans are unsecured, meaning you don't need to put up collateral like your car or home.

What happens after I choose an offer?

Once you select an offer, your lender will guide you through the final steps, which may include: • Verifying income • Reviewing documents • Final approval • Paying off your current loan After that, you'll begin making payments to your new lender.

Are there any application fees?

LoanCenter does not charge application fees to check your offers. Some lenders may include state fees, title transfer fees, or other costs in the final loan agreement.

Do I need to know my VIN?

It helps, but not always. You can usually get started with: • Your VIN • Or your vehicle's make and model Your VIN can typically be found on your registration, insurance card, or driver-side dashboard.

Why do people refinance their car loan?

People refinance for different reasons, including: • Lowering their monthly payment • Reducing their interest rate • Adjusting their loan term • Removing or adding a co-borrower • Seeing if they qualify for better options than when they first financed Sometimes even a small rate change can lead to meaningful savings over time.

Will checking my rates hurt my credit score?

No. Checking your personalized offers through LoanCenter uses a soft credit check, which does not impact your credit score. If you choose an offer and continue with a lender, they may perform a hard credit inquiry before final approval.

What is auto refinancing?

Auto refinancing replaces your current car loan with a new one that may offer a lower rate, lower monthly payment, or different loan term. Many people refinance because their credit improved, rates changed, or their current payment feels too high.

How do I get started with a title loan?

You can start by completing LoanCenter’s online prequalification process. You’ll provide information about your financial situation and vehicle, and LoanCenter can help connect you with personalized loan options from participating lenders. Prequalification does not guarantee approval or specific loan terms.

Do I need good credit to get a title loan?

Not necessarily. Some lenders may consider factors beyond your credit history when evaluating your application, such as your income, vehicle, and ability to repay. However, eligibility requirements vary by lender.

What happens if I can't repay my title loan?

If you’re unable to make your payments, contact your lender as soon as possible to discuss your options. Because your vehicle serves as collateral, failure to repay a title loan could result in the lender taking action against the vehicle, including repossession, depending on the loan agreement and applicable state law.

Can I keep driving my car after getting a title loan?

In most cases, yes. A title loan uses your vehicle’s title as collateral, but you can generally continue driving your vehicle while repaying the loan. Specific requirements may vary by lender and state.

What do I need to apply for a title loan?

Requirements vary by lender and state, but you may need information about your vehicle, proof of income, identification, and other personal or financial information. The lender will determine what documentation is required.

Will checking my title loan options affect my credit?

Checking your title loan options through LoanCenter’s prequalification process does not affect your credit score. Prequalification uses a soft credit inquiry, which does not impact your credit score. If you choose to move forward with a lender, the lender may perform a hard credit inquiry as part of the application process.