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Credible review 2019: loan comparison platform


The online loan space has grown so rapidly in recent years that there are now hundreds of providers offering their services.

On the one hand, this is good for the consumer, to the extent that strong competition often results in increasingly competitive loan rates.

On the other hand, this can make it a bit difficult to know with which provider to choose. In addition, it can be a time-consuming task to verify each provider individually in order to find the best deal.

That's where Credible can help.

The online platform aims to become the reference market for loans of all kinds. Whether you are looking to get a personal loan, a student loan, a refinance of student loans, a credit card or even a mortgage refinance, Credible allows you to compare multiple providers through a single center.

If you are thinking of using Credible for financing, we suggest you first read our full review. We will analyze everything you need to know, such as what services the platform covers, who is eligible to use it, if you need to pay a fee and anything else we think you should know.

Let's start by discovering what is credible.

Visit credible personal loans | Credible student loans

What is credible?

Launched in 2012 and based in San Francisco, Credible is a comparison website that makes it very easy to compare a range of financial products linked to credit.

While the platform's main focus was originally personal loans, Credible has expanded to other popular markets. This includes products intended for students, such as student loans and refinancing of student loans, as well as mortgages and credit cards.

The general concept is simple. By entering your financing requirements on the Credible website, the platform will recommend the most appropriate lenders according to their individual circumstances.

Credible website

This will be based on your financial statement, the current relationship with the debt and other factors, such as the amount of money you want to borrow and for how long.

It is important to keep in mind that Credible is not really a lender. On the contrary, they simply match it with one of the many lenders with whom they have partnered. As such, while the credible network of lenders is reasonably broad, there is the possibility of missing an even better deal elsewhere.

However, according to the company's claim that it provides "simplicity, choice and impartial support to all important financial decisions of life," Credible aims to make the loan application process free of jargon.

This means that when your loan options are shown, the platform will break down the important and material information in Layman's terms so that the beginner can understand it.

Now that you have a better understanding of what Credible is, in the next section of our review we will unravel the main services of the platform in more detail.

How does it work

Personal loans

If you are looking for a personal loan, then it is worth seeing what Credible can find.

In fact, as the distinctive product covered by Credible, the platform offers a Best Rate Guarantee on the rates found in its name. Simply put, if you find a better rate than the one found by Credible, the platform will give you $ 200.

You can check on a personal loan from $ 1,000 to $ 100,000, which is quite a wide range. We usually find that personal loan comparison websites are not suitable for large amounts, although at $ 100,000, this is very complete.

As it is a common practice on most platforms, you must inform Credible what you need the money for. However, the good news is that the platform accepts applications for almost any purpose.

Whether for debt consolidation, home improvement, wedding expenses, professional development, moving expenses or a good holiday, Credible is pleased to give you a budget. In terms of the rates offered, this can also vary quite a lot.

For those with a good credit rating, the best offer rate is 4.99% APR. There is a large disparity in the public domain with respect to the lowest rate offered, which indicates that Credible updates this frequently.

However, for those with less than ideal credit, this can trigger up to a huge 36%. However, it comes to view of the rate before proceeding, so you never have the obligation to take what is given.

One of the best things about using the Credible platform for your personal loan requirements is that you can perform a smooth credit check. This means that by entering your financial requirements, you can verify your rates without affecting your credit score. In fact, lenders will not be able to see who actually performed the search.

Personal loans

What are the requirements to qualify for a credible loan?

Credible is somewhat vague in its explanation of what is required to obtain a loan through its comparison platform.

At a minimum, you must be a US citizen or a US resident with a valid social security number. In addition, you must be at least 18 years old to submit the application.

In terms of the creditworthiness required, Credible explains that it must have a "good" credit rating. According to the leading agency of Experian credit agencies, a credit score of 700 or more is considered "Good."

In addition to this, Credible also takes into account that it must have a "stable" income. Once again, it remains to be seen what classifies the platform as stable. However, it is reasonable to suggest that, at a minimum, you will need to be employed full time to qualify.

Rates and terms of personal loans

One of the best things about using Credible is that the platform doesn't charge you any fees. This means that you can search for multiple lenders at the click of a button without affecting your credit report, for free. This makes the Credible platform really attractive, since it essentially has nothing to lose by seeing what rates it can get.

In terms of how long you can borrow funds, you can choose between two and seven years. While this is likely to cover most circumstances, it is somewhat limited for those seeking a short-term loan. For example, those who seek to repay the loan in 12 months are not treated at Credible.

The personal loan application process

As is standard on most online comparison sites, you will need to enter your personal information in the same way as you would with the lender. In general, you must provide Credible with the following:

  • The amount you want to borrow
  • The term of the loan.
  • Why do you need to borrow the funds?
  • Your date of birth
  • Details related to your education.
  • Your employment status
  • How much you earn each year
  • What do you think is your current credit score?

Once you have reviewed the basics, you should receive your prequalified rates in less than 2 minutes. This means that you must provide more information, in case you decide to continue. In addition, the lender you go with will have to perform their own checks before it is fully approved.

However, Credible explains that, in many cases, lenders can release the funds on the next business day.

Credit cards

The credit card section of the Credible platform is a useful way to find the card that best suits your needs. When it starts, you have a variety of options to choose from, such as cards that are best for rewards, balance transfers, students, low interest or travel.

After choosing the type of card you prefer, you can play with the filters. For example, are you looking for a credit card that is suitable for those with bad credit, or are you looking for a welcome offer? Whatever you are looking for, Credible makes it really easy to find.

As in the case of the personal loan application process, once you have found the card you wish to apply for, enter your information through the Credible website.

Credit cards

Student loans

As a precaution, if you are looking to apply for a private student loan, you should always seek to maximize federal student loans first. In most cases, the terms offered through federal loans are much more competitive than those of a private lender, so keep this in mind.

However, if you are looking for a private lender with competitive prices, you can use Credible to find the best rates. The platform has partnered with a number of private student loan lenders, including Citizens Bank and iHelp. As expected, the eligibility requirements are slightly lower compared to the request for a personal loan.

Credible will expect you to have a credit score of at least 600. If this is not possible, or you do not have a sufficient history of obtaining Y Pay the credit, then you probably should get a co-debtor. In fact, Credible states that he is three times more likely to be accepted if he uses a co-debtor as part of his request.

Credible allows co-signatories to be parents, spouses, family members or any US citizen over 18 years of age. Don't forget, your cosigner will be responsible for paying off your loan if you cannot meet your payments!

Student loans

Rates and terms of student loans

In terms of the rates offered, this starts with a variable rate of 3.89% and a fixed ARP of 4.50%. Make sure you understand the difference between the two, since in the long run, this could make a significant difference as to how much you will end up paying.

Essentially, while the variable rate might be cheaper when you initially apply for the loan, in the course of the loan, the rate could end up costing you more.

Student loans do not have rates of origin or service, which keeps the platform true to its word that it does not charge fees. In addition, any student loan obtained through the Credible platform does not carry penalties for prepayment, which is an additional bonus.

The terms of the loans offered will generally range between five and 15 years. More than 2,220 academic institutions are eligible to obtain a student loan through Credible, and both undergraduate students Y Graduate degrees are supported.

Finally, if you decide to apply for a private student loan through Credible and your application is accepted, you must upload some documents. As soon as the documents have been validated, the funds will be sent directly to your academic institution.

Student refinancing loans

In addition to covering personal loans and student loans, Credible also offers a platform to compare student refinance loan providers.

For those who do not know, the purpose of obtaining a student refinancing loan is to pay their current outstanding student loans (both private and federal) at once. The loans you pay are replaced by your newly obtained student refinancing loan.

The idea behind this is to obtain a more favorable interest rate and, in some cases, more favorable payment terms. As in the case of the student loan process at Credible, you also have the option of choosing a variable rate or fixed APR.

Refinance student loans

Mortgage Refinancing

If you are looking to replace your existing mortgage agreement with a better deal, you may consider getting a refinancing quote through Credible.

Again, verifying what rates you can get through Credible will not affect your credit score, nor will your current lender be able to see what you requested. The prequalification stage takes only 3 minutes, and Credible states that, unlike other sites, its prequalified rates are very accurate.

If you decide to opt for one of the mortgage refinancing offers that are offered to you, you can actually complete the entire process from end to end through the Credible platform. This includes continuous support when you need it, which is excellent.

In terms of the fundamentals, the amount of refinancing you can obtain will depend on several factors. For example, if you have a debt-to-income ratio between 45% and 50%, along with a solid credit rating, you may be able to obtain approval for an amount equivalent to 97% of the market value of your property.

The specific circumstances will also be determined by the criteria used by the lenders. Therefore, it is worth taking a look to see what is offered, since the search will not be published on your credit report.


Credible customer service and comments

If you need to contact Credible directly, you have several options at your disposal. The easiest way is to contact a support member through the platform's live chat service.

The live chat box is not available 24 hours a day, 7 days a week, since when we tested it ourselves outside standard office hours, we were asked to send an email. You can also contact the team on their main hotline, which you can call 866-540-6005.

Finally, you can also send an email to support@credible.com.

In terms of the platform's reputation in the public domain, the vast majority of our findings were positive. For example, TrustPilot, which is often a good indicator of public perception, currently lists Credible with a score of 9.5 / 10, covering more than 2,402 comments.

Feedback from credible customers

Credible review: the verdict?

In short, Credible is a really useful tool that can be used to find some of the best financing offers on the market. Whether you're looking for a conventional personal loan, a specific type of credit card, a student loan refinancing plan or a mortgage refinance, the Credible platform has it covered.

Credible does not charge you any fees for receiving quotes, nor does it cost you anything if you decide to obtain one of the offers presented to you. However, the general benefit of using Credible is that prequalification applications never affect your credit score, nor are they shared with any credit agency. As such, you effectively have nothing to lose at least see what rates you can get.

We also like the fact that Credible's team has made the platform really easy to use and, as they say, without any jargon. This is especially useful for those seeking to obtain a student loan, who otherwise might not have a complete understanding of complex legal terms.

On the other hand, it is important to keep in mind that Credible does not have a relationship with all of the best lenders out there. This means that when using the platform, you may be missing a slightly better deal. However, this is usually the case with financing comparison platforms, since certain lenders will always be lacking.

However, if you are currently in the market for one of the loan products covered by Credible, there is no harm in finding out if they have an agreement for you or not.

Visit credible personal loans | Credible student loans


Credible review


  • Free use to receive quotes
  • Prequalifications do not affect the credit score
  • Simple and easy to use
  • Excellent customer comments
  • Credible veterinary quality lenders


  • It does not have all the lenders on board


Disclaimer: The opinions expressed herein are only those of the author, not those of any bank or credit card issuer and have not been reviewed, approved or endorsed by any of these entities.

Disclaimer: The answers below are not provided or commissioned by the bank advertiser. The responses have not been reviewed, approved or supported by the bank advertiser. It is not the responsibility of the bank advertiser to ensure that all publications and / or questions are answered.

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