Credible Personal Loans Review: Compare Offers from Top Lenders in 3 Minutes [2020]

There’s a whole slew of loan options out there. Let Credible Loans help you choose the best option for your needs.
Last updated Mar 23, 2020 | By Lindsay Frankel
Woman reviewing credible personal loans

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There are a number of financially responsible reasons to take out a personal loan. Your fur baby might need emergency care, you might need to make a repair on your home or vehicle, or you might just want to consolidate higher interest debt. Whatever the purpose or the amount you’re looking for, finding the best option can seem overwhelming. You want to make sure you find a lender that is reputable, trustworthy, and has a loan product that meets your needs.

With Credible, you’ll never pay anything or harm your credit by comparing lenders that have already been vetted for you. So you can easily search and compare offers to find the lowest rate, which saves you time and money.

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Is Credible a good company?

Founded in 2012, Credible is a lender marketplace based in San Francisco. Thousands of customers have already received offers through Credible, and more than 280 partners, from Uber to Trunk Club, trust the company and use its services.

Credible does not issue loans, but instead connects users with offers from a variety of lenders. One thing that sets Credible apart from the pack is that they offer a Best Rate Guarantee on personal loans, which offers users a cash bonus if you find a better offer elsewhere. That makes Credible one of the best places online to find a personal loan. There’s even a client success team dedicated to answering any questions you may have via email, phone, or online chat.

Credible also has an A+ rating with the Better Business Bureau and a 5 star average on TrustPilot.

Which loan products does Credible show you?

Credible shows a variety of loan products for different financial situations. You can find private loans for college, student loan refinancing help, mortgage refinancing loans, and personal loans for big purchases, unexpected expenses, or debt consolidation. Credible also now allows you to compare credit card offers, read reviews, and estimate the value you’ll get from a rewards card.

While Credible isn’t the one actually lending you money, it’s an easy-to-use tool that allows you to quickly compare offers from various lenders. You can see multiple options in one place, which helps you make an informed decision before committing to a loan.

Personal loans at Credible

Whether you’re trying to consolidate debt, finance a large purchase, or pay for emergency expenses, a low-interest personal loan can be a great option to help you achieve your goals. A personal loan from Credible can be used for a variety of purposes, including:

  • Planning a wedding
  • Credit card refinancing
  • Debt consolidation
  • Career development
  • Business startup costs
  • Car financing
  • Vacation
  • Moving costs

Simply fill out a quick form before viewing your offers. Credible personal loans are available from 11 lenders and come in amounts from $1,000 to $100,000. Rates start at just 5.95% APR (with autopay)*, and you’ll be able to compare offers you qualify for in just two minutes.

Eligibility requirements for personal loans vary by lender, but generally you should be 18 or older, have a valid Social Security number, and have a decent credit score and income.

Credible is so confident you’ll find the best rate on their site that they’ll give you $200 if you find and accept another offer elsewhere within eight days of checking rates on Credible.

Loan amount $1,000 to $100,000
Loan term 24 to 84 months
APR 3.99% to 35.99% (as of March 23, 2020)
Credit needed Varies by lender

Student loans at Credible

It’s easy to find a private student loan to fund up to 100% of your education on Credible. Loans are available for almost any degree with flexible repayment plans, and you can use a private student loan to pay for living expenses in addition to education costs.

None of Credible’s partner lenders charge origination fees, and you won’t be penalized for paying your loans off early. You’ll find a range of interest rates and terms available from a variety of lenders, such as College Ave and Sallie Mae. There are even loans available with fixed interest rates near 4%.

You can even add a cosigner to your application with most of the lenders at Credible. This is important, since many students have a low income or thin credit file, making it difficult to qualify on your own.

Loan amount Up to the cost of your education
Loan term Varies by lender
APR 2.40% to 11.88%  (as of March 23, 2020)
Credit needed Varies by lender

Student loan refinancing at Credible

If you’re struggling with your student loans, student loan refinancing might be a good option for you to consider. When you refinance, you take out a new loan with better terms to pay off your old student loans. This gives you the chance to lock in a lower interest rate or even lower your monthly payments.

With Credible, you’ll be able to compare rates from 10 lenders without having to fill out multiple forms or hurting your credit. While interest rates and terms vary by lender, options are available with fixed rates starting at 4.25% (with autopay)*. Federal student loans, private student loans, and Parent PLUS loans are all eligible for refinancing.

Most lenders require a credit score between 670 and 700, but also weigh other factors such as your debt-to-income ratio. If your credit score is too low or you aren’t making enough income, consider adding a cosigner to your application.

Loan amount Varies by lender
Loan term 5 to 20 years
APR 2.23% to 8.72% (as of March 23, 2020)
Credit needed Varies by lender, generally 670+

Mortgage and mortgage refinancing at Credible

Whether you need a new mortgage or want to finance an existing one, Credible can help. Fill out a three-minute form to view prequalified rates and loan terms from up to six lenders. If you see an offer you like, Credible can even help streamline the application process, allowing you to upload your documents directly to Credible.

Qualification requirements and loan terms vary by lender, but your creditworthiness, income, and available down payment will all affect the offers you are eligible for.

Credit cards at Credible

Credible allows you to compare cards in a variety of categories, search for a specific card you need more information about, and review top cards to find the perfect card for you. Whether you’re using a credit card for debt consolidation or to earn travel rewards, Credible has options for people with a range of credit scores.

What Credible customers are saying

Credible has an excellent rating average on TrustPilot, with glowing reviews from 3,000 customers. Reviewers commented that the website was easy to use and the customer service was excellent. Many people reported that they were matched with a great offer that helped them accomplish their goals.

While the company’s services are well reviewed, it’s important to note that Credible probably shouldn’t be your only stop as you research loans. While it can show you offers from a dozen or so lenders, it only shows you loans from its partners. It’s important to review other lenders as well to make sure you’re not missing out on a good deal from a lender that doesn’t partner with Credible.

FAQs about Credible

Does Credible affect your credit score?

Using Credible’s marketplace to compare offers from lenders won’t impact your credit score. To show you offers you prequalify for, Credible performs a soft credit check, which doesn’t affect your credit. A hard credit check only takes place once you actually submit an application with a lender.

How much does Credible cost?

Credible is entirely free to use. Credible makes money by accepting a fee from partner lenders when you accept a loan offer, but this in no way impacts you or the amount you pay.

Are there obligations once I prequalify with Credible?

No. You can compare offers risk-free, without impacting your credit, and there’s never any obligation to proceed with an application.

How do I apply for a loan with Credible?

All you need to do is fill out a simple form to see the rates and terms you prequalify for. It takes just a few minutes to complete, and you’ll get personalized rates from multiple lenders.

Once you choose a lending option, you’ll need to fill out an application to that lender. If you run into any issues or have questions along the way, the Credible Client Success Team is available to assist you.

The final word on Credible

There are a number of loan comparison websites out there, and ultimately you may want to consult more than one. Still, Credible is one of the top options for finding a loan, since the company is trusted and loved by borrowers and offers superior customer support. It could be a particularly good choice for finding a personal loan due to Credible’s Best Rate Guarantee.

No matter your financial situation, Credible likely has an option for you. With a little help from Credible, you’ll be on the road to a more financially stable future in no time.

* Read all rates and terms at Credible.com

Credible Personal Loans Benefits

  • Loans from $1,000 to $100,000
  • Min. Credit Score: 600
  • APR: 3.99% - 35.99%
  • Comparing Rates Does Not Affect Your Credit Score
  • $200 Best Rate Guarantee (see Credible terms)
  • APR as of July 2020