An installment loan is a type of consumer loan that is repaid over time through a series of scheduled payments. Each payment is due on a specific date and includes both principal and interest, as outlined in the loan agreement. The total number of payments, the payment amounts, and the repayment schedule are established at the time the loan is originated and disclosed to the borrower before acceptance.

With an installment loan, borrowers receive the loan proceeds upfront and repay the balance in fixed or scheduled installments over the agreed term. The Annual Percentage Rate (APR), total finance charge, and payment schedule are clearly disclosed prior to signing the loan agreement. Interest on installment loans is typically calculated using the simple interest method.

Installment loans provide borrowers with a structured repayment plan and predictable payment amounts. Loan terms, eligibility, and availability vary by state and are subject to applicable state and federal law.

• Be at least 18 years of age

• Be a resident of a state where Crediterium is licensed to operate

• Have a valid government-issued photo ID

• Have an active checking account in your name

• Have a valid email address and phone number

• Meet Crediterium’s underwriting and eligibility criteria, which may include income and account verification

No. There is no cost to apply for a loan with Crediterium. Submitting an application does not require any upfront fees. If approved, all applicable loan terms, including the Annual Percentage Rate (APR), finance charges, and repayment schedule, will be fully disclosed to you before you accept and sign your loan agreement.

Applying for a loan does not obligate you to accept an offer. Loan approval, terms, and availability are subject to verification and applicable state law.

No! Submitting an application with Crediterium will not affect your credit score.

Crediterium uses a soft credit inquiry and verifies customer information, including bank account data, through in-house underwriting processes. Soft credit inquiries do not impact credit scores.

Final loan approval and terms are subject to verification and applicable state law.

If your loan application is approved, funding is typically processed on the same business day for applications completed before 4:00 p.m. Central Time.

Applications completed after that time are generally funded on the next business day. Funding timelines may vary based on verification requirements, payment method, and applicable banking or processing schedules.

If you miss a scheduled payment, we encourage you to contact Crediterium as soon as possible so we can discuss your situation and available options. Crediterium is committed to working with customers when unexpected circumstances arise, and we may be able to accommodate certain payment situations depending on your account status and applicable law.

As outlined in your loan agreement, you authorize Crediterium to debit your authorized bank account or debit card for scheduled payments and, where permitted, to re-attempt returned or missed payments in accordance with the terms of your authorization. Any applicable fees or consequences associated with a missed or returned payment are disclosed in your loan agreement and governed by state law.

For assistance, please contact our customer support team

The Annual Percentage Rate (APR) is determined at the time of origination and disclosed to you before you sign your loan agreement. Rates vary by state and individual circumstances.

Customers may contact Crediterium using the contact information provided on our website for questions, concerns, or complaints regarding their loan between operational hours (9:00 am - 6:00 pm EST) at  +1 (844) 427-3876 or support@crediterium.com 

Yes. Crediterium and its affiliated entities are licensed and regulated in the states where they operate. Licensing and regulatory information is available on our Licensing & Regulatory Disclosures page.

Yes. You may cancel your loan within three (3) business days of the loan being disbursed, provided that the full loan proceeds are returned in accordance with the terms of your loan agreement. In the event of a timely cancellation, a limited processing fee may apply solely to cover reasonable operational expenses, as disclosed in the loan agreement you will review and sign prior to acceptance.

Any applicable cancellation rights, conditions, and fees are governed by your loan agreement and applicable state law.