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.
- Is Credible a good company?
- Which loan products does Credible show you?
- Personal loans at Credible
- Student loans at Credible
- Student loan refinancing at Credible
- Mortgage and mortgage refinancing at Credible
- Credit cards at Credible
- What Credible customers are saying
- FAQs about Credible
- The final word on Credible
Is Credible a good company?
Founded in 2012, Credible is a lender marketplace based in San Francisco. Millions of customers have already compared offers through Credible, and its lending partners include large financial institutions like Discover, SoFi, Marcus by Goldman Sachs, and Upstart.
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 4.5-star average across nearly 4,500 TrustPilot reviews.
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; mortgages and 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 debt refinancing
- Debt consolidation
- Home improvements
- Career development
- Business startup costs
- Car financing
- Moving costs
Simply fill out a quick form before viewing your offers. The best personal loans through Credible are available from top online lenders like Avant, Best Egg, LendingClub, LightStream, and Prosper, and come in amounts from $600 to $100,000. Personal loan APR rates range from 5.40%-35.99% (as of Nov. 1, 2022), and you’ll be able to compare offers you qualify for in just two minutes.
Eligibility requirements for personal loans vary by lender, but you generally need to be 18 or older, be a U.S. citizen or permanent resident with 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||$600 to $100,000|
|Loan term||12 to 84 months|
|APR||5.40%-35.99% (as of Nov. 1, 2022)|
|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 terms, and you can use a private student loan to pay for living expenses in addition to education costs.
None of Credible’s eight 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 loans available with rates ranging from 2.99%-15.75% (as of Nov. 1, 2022) APR.
You can even add a cosigner to your loan application with most of the lenders at Credible. This is important, since many students have a low income, a thin credit file, or fair credit, which can make it difficult to qualify for a loan.
|Loan amount||Up to the cost of your education|
|Loan term||Varies by lender|
|APR||2.99%-15.75% (as of Nov. 1, 2022)
|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 11 lenders without having to fill out multiple forms or hurting your credit. While interest rates and terms vary by lender, options are available with rates ranging from 2.48%-11.27% (as of Nov. 1, 2022) APR. Federal student loans, private student loans, and Parent PLUS loans are all eligible for refinancing.
Most lenders require a FICO 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||2.48%-11.27% (as of Nov. 1, 2022)
|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 nearly 4,500 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 online marketplace to compare offers from different lenders won’t impact your credit score. 1 As part of its prequalification process, 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. This type of credit inquiry will appear on your credit report and may cause your credit score to drop by a few points.
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 competitive 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 can be your answer for how to get a loan. With a little help from Credible, you’ll be on the road to a more financially stable future in no time.
Disclaimer: All rates and fees are accurate as of Sept. 7, 2022.