Credible Review [2024]: Student Loan Refinancing, Borrowing, and More

This online lending marketplace makes it easy to compare loan rates and terms to find the best loan product for you.
Updated May 14, 2024
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Whether you’re looking to refinance your student loans or apply for a private student loan, finding the right lender can seem like a daunting task. There are literally thousands of options out there, and it’s essential to choose a lender you can trust.

Enter Credible, a lending marketplace that makes it easy to compare loan options from different lenders all in one place. Here’s what Credible is, how it works, and how you can use it to find the best loan for you.

Credible Benefits

  • Accepts Credit Scores From 630
  • 100% Free Prequalification1
  • Works with Federal, Private, Parent PLUS Loans

In this Credible review:

What is Credible?

Credible was founded in 2012 by Stephen Dash, a former investment banker. The company is headquartered in San Francisco, and it originally began as a student loan marketplace. Today, it partners with lenders nationwide to help borrowers find and compare the best options for refinancing student loans; taking out private student loans, personal loans, home mortgages, or mortgage refinances.2

Credible is committed to empowering borrowers by providing them with easy access to vetted lenders and straightforward explanations of loan terms and details. They know navigating loans can be a daunting task and have made it their mission to simplify the process as much as possible.

Which products does Credible offer?

Credible is an online marketplace, it isn’t a direct lender. However, it partners with many trustworthy lenders, like College Ave and Citizens Bank, to offer the following products:

  • Student loan refinancing
  • Private student loans
  • Personal loans
  • Mortgage loans
  • Mortgage loan refinancing

Credible student loan refinancing

When you refinance student loans, all your federal and private loans are combined into one private loan with a new lender. Depending on your creditworthiness, this can help you secure better terms and lower interest rates and monthly payments. Ideally, this could help you save a lot of money as you pay off your student loan debt.

Credible lets you quickly compare prequalified rates1 and options for refinancing student loans from vetted lenders in a matter of minutes and with no worries about a hard credit pull. To qualify for student loan refinancing through Credible, borrowers must meet the following eligibility criteria:

  • Be a U.S. citizen or permanent resident. This also applies to your cosigner, if you have one.
  • Be at least 18 years old
  • Not currently enrolled in a degree or other educational program
  • Have a minimum of $5,000 in student debt
  • Refinancing options are available to both those who have graduated and who have not graduated and are no longer enrolled in school

Private student loans with Credible

Private student loans can help you cover the cost of tuition and room and board once you’ve exhausted your options for federal student loans. Credible offers private student loans geared toward current students as well as co-signers. Borrowers can quickly compare loan rates and loan terms from vetted private student loan lenders that charge no origination fees or prepayment penalties. You'll complete a prequalification form as part of the process, which makes it simple to see what's available based on your current financial situation.

To qualify for a private student loan through a Credible partner, borrowers must meet the following eligibility criteria:

  • If under 18 years old, you must apply with a cosigner. (Good to know: About 85% of those who apply for a student loan through Credible apply with a cosigner).
  • International students may apply but must have a U.S. citizen or permanent resident cosigner
  • Must be enrolled in a qualifying educational program at least part-time

Personal loans with Credible

Personal loans can be used to cover unexpected or planned costs, such as medical expenses, home improvement projects, credit card debt consolidation, moving costs, wedding expenses, and more. If you’re in the market for a personal loan, Credible lets you compare the best personal loans from different lenders in minutes.

Credible borrowers can borrow anywhere from $600 to $200,000, with APR rates ranging from 6.99%-35.99% (as of April 23, 2024).3 Actual loan amounts, loan repayment terms, and interest rates will vary based on your creditworthiness. Borrowers with excellent or good credit may see more favorable repayment terms and lower rates. Eligibility criteria will vary from lender to lender.

Home mortgages and refinances with Credible

Whether you're looking to buy a home or get a lower rate or monthly payment on an existing mortgage, Credible has options. In addition to letting borrowers quickly compare the best student loans and best personal loans, Credible also serves as a home mortgage marketplace. Prospective buyers who are just starting to research their options can use Credible to determine how much home they can afford or get pre-approval for a mortgage, and buyers who are further along in the process can compare home loan rates and terms before deciding which option is right for them.

Eligibility criteria for a home mortgage will vary from lender to lender, though lenders typically consider your credit score and credit history, debt-to-income ratio, total down payment, and your home’s loan-to-value if you’re refinancing. To apply for a home loan or mortgage refinance through a Credible lending partner, you may have to provide the following personal information:

  • Drivers license or Social Security card
  • Recent bank statements
  • Proof of income via a W-2 or other form
  • Recent tax returns
  • Down payment information
  • Home appraisal

What Credible customers are saying

Credible is a BBB-accredited business with an A+ BBB rating. It also receives high marks on Trustpilot, with over 3,700 customer ratings and an average score of 4.7 out of 5 stars. In general, Credible customers seem to appreciate its easy-to-use platform, straightforward process, and various loan options.

FAQs about Credible

Is Credible safe?

Information shared with Credible is secure on the company’s platform outfitted with bank-grade encryption and SSL technology. Since founding the company in 2012, thousands of consumers have successfully partnered with trusted Credible partners nationwide with a high customer satisfaction rate.

Does Credible do a hard credit check?

Credible does not require a hard credit check to compare loan products. However, it will do a soft credit check, which does not impact your credit score.4 When you apply for a new loan with a partner lender, they will likely do a hard credit inquiry.

What credit bureaus does Credible work with?

Credible works with the three major credit bureaus: TransUnion, Equifax, and Experian.

How much does it cost to use Credible?

Credible’s service is completely free. Credible makes money by charging its partner lenders a fee, but the fee does not impact the terms of your loan or the amount you pay the lender.

Does Credible charge late fees?

Late fees depend on your individual lender’s policy, meaning some lenders have them while other lenders might not. The best way to find out is to contact your lender directly.

If I can pay my loan back early, is there a penalty for doing so?

No, Credible lending partners do not charge prepayment fees, so if you’re able to pay off your loan early, there are no extra fees to worry about.

How can I contact Credible customer service?

You can call their customer service number at (866) 540-6005, or email customer support at

How to get started with Credible

Credible offers an easy-to-navigate online platform. Here’s how to find a loan that meets your needs:

  • Select the loan type/product you’re interested in. Credible offers student loan refinancing, private student loans, home mortgages, home mortgage refinances, and personal loans.
  • Answer a few questions. Depending on the product you’ve selected, you’ll be asked to answer a few additional questions, which should take only a few minutes to complete.
  • Browse personalized prequalified rates. After a short wait, you’ll get a variety of prequalified rates1 to browse. It’s good to note that none of these offers are binding and there’s no obligation to accept any of them.
  • Choose your lender. Choose the lender you think is the best fit for you and click through to submit a full application directly through the lender. Application processes will vary based on the type of loan and lender you choose.
  • Wait for approval. The timeline can vary depending on your loan type and lender. For instance, securing a personal loan may take as little as 5 to 7 business days, while refinancing takes an average of 30 days to complete.

The bottom line on Credible

If you’re wondering how to get a loan and looking for a simple, straightforward lending marketplace, Credible may fit the bill. It’s a legit company that partners with vetted lenders that can help you find the best rates and terms on a loan. Whether you’re looking to refinance your student loans or apply for a home mortgage, Credible likely has an option to meet your needs.

Credible Benefits

  • Accepts Credit Scores From 630
  • 100% Free Prequalification1
  • Works with Federal, Private, Parent PLUS Loans