Web Design: Is centering a content section a good idea?

Im on the fence drinking a soda about posting this as an answer but the answer I am going to provide you, I might make into a reference later on when others ask this similar question..

As you stated you’re already in the design phase… If you followed a proper workflow (since you haven’t mentioned IF you had a mockup, content evaluation, wireframe event) I am going to say this is a prime example of why PLANNING is key to an effective website. Now, like many, they battle to make their site work and look appealing to the eye but face issues with poorly laid out content and unhappy clients.

That said in the above paragraph, I doubt any answer would be helpful. I say that not trying to be rude but you need to step back a few steps and evaluate your content, structure, and THEN design. Since we don’t know your content load, future plan of the site, how it operates and what it is to do I am going to assume, based on your question the following:

(include pages like about us, terms of use, my dashboard, my profile,
my payments which currently have a single column of content)

Typically people do use navigation elements, but you may face issues in the tablet and phone realm. Based on the quoted above you mention currency so I would evaluate a sidebar with a cart perhaps. Again, not know what the content is, how it is being designed I cant make an effective suggestion because you may have content redundancy and if I’m at a site and see the same thing 4+ times, unless its crucial to the site, I’m going to assume it was poorly done.

To answer the title of your question: Is centering a content section a good idea? Depends on the design of the site and what the client wants. That’s another thing that hasn’t been mentioned. You state you’re in the design phase with this issue but instead of deciding the design step back and wireframe.. Play with the content, if you have it.. If you own the site, step back and look at how you want the site to function and flow.