Credible | Credit Raters
Last updated: 25th Jan 2021

Credible Review

Credible loan was established in 2012, with the sole objective of offering student loan refinancing. However, they later started offering personal loans as one of their services. Just to be clear, Credible does not offer lending services, what it does is that it connects borrowers with an ideal credit score to genuine lenders. Thereafter, it gets commission from the lenders.

Through credible, borrowers can compare the different rates of different lenders. They offer a wide array of services such as personal loans, student loans, student loan refinancing, private student loans, credit cards, and mortgages. Their loans offer ranges between $1000 and $100000.

The wide pool of lenders at Credible have a wide range of credit scores and offer competitive rates to the borrowers. In most cases, loans are disbursed within the first two days of application if successful.

How much do Credible Loans Cost?

When people need loans, the first thing they want to know about the loan package is the terms and costs associated with it. When using Credible loan marketplace, borrowers incur zero costs. Their service is without question free. They earn through commissions from lenders.

Credible affiliate lenders offer a fixed interest rate spanning from 2 to 7 years. The APR ranges from  3.99% to 35.99%.

Key features of Credible Loans

Naturally, every product/service must have advantages and disadvantages. They are drawn from the consumer’s feedback and reviews. Credible loans have numerous advantages and a few drawbacks which explain its popularity.


  • Quick to process loans – After a successful loan application, the funds are disbursed in not more than 2 days. Filling out the Request My Rate form also takes less than 2 minutes and you are good to go.
  • Zero connection costs – Credible loans do not charge it’s consumers for linking them with lenders, instead, it receives a commission from the lenders themselves.
  • One-stop-shop – you use one form to know the rates and charges of multiple lenders.
  • Best rate guarantee – credible offers $200 if you find another loan marketplace with better rates.


  • Bothersome – after giving your phone number, it’s likely that you’ll be bundled with calls from lenders which may become a nuisance.
  • Some lenders charge fees – some lenders charge fees such as processing fees and transaction fees to their borrowers.
  • Minimal lenders – the number of lenders is not as wide as to offer the best convenience.


To best familiarize yourself with any lender, check out the frequently asked questions.

How do I identify if I am eligible?

To know if you are eligible, you just have to fill the form on the credible website which takes the least of your time. If you are eligible, you’ll get personalized and prequalified rates on your credible dashboard from all the partner lenders you meet requirements for.

What are the charges for using credible?

Credible does not charge anything. It’s free. Credible is given a fee by their partner lenders as a result of its service. It’s noteworthy that the fees they get from the lender do not affect the charges and terms of your loan.

Does Credible have student loan refinancing options one does not graduate?

The partner lenders have the student loan refinancing options for students who never graduated or are no longer enrolled in school.

Does getting personalized and prequalified rates guarantee me a loan?

No. until your offer is finalized, you have no guarantee. The finalized offer is issued after your creditworthiness is determined to match with the lender’s underwriting.

Eligibility Criteria

Credible, like other loan marketplaces, does not offer loans to anonymous persons. You have to meet certain minimum requirements to successfully request a loan via credible.

  1. USA citizen or permanent resident
  2. Must be 18 years and above
  3. A checking bank account in your name
  4. Must have a credit rating of fair, good or very good

Additionally, you will be required to fill some details which are mandatory to qualify for an offer from the pool of lenders.

  1. Full names, and DOB
  2. Social Security Number
  3. Annual Income
  4. Current Employment status
  5. Highest level of education
  6. Estimated credit score

In case you do not meet the above requirements, it’s unfortunate that you cannot access a loan from Credible lenders for now.

State Availability

Given that credible does its operation online, it’s available in all states across the country. However, certain laws in various states may limit the terms of the loan offers you receive. For this reason, Credible offers its services while adhering to the security of the consumers and their data per various state requirements.

Customer support

You can contact Credible via their email; or via phone; 866 – 540 – 6005. Alternatively, you can make use of the live chat feature on their website. The live chat is always efficient since it delivers information in real-time, you get to chat directly with the customer service.

You can reach them from Monday to Thursday between 6 am to 6 pm. On Fridays, you contact them from 6 am to 4 pm while on Saturdays, it’s from 7 am to 4 pm. The customer service is excellent and helpful.

Application process

To apply for a loan via Credible, it’s quite straightforward;

  1. Visit the credible website and scroll downwards.
  2. Select the Find My Rate and fill in the other details.
  3. Read the terms and conditions, accept them and your personalized rates will be delivered within a couple of minutes.

This information is then taken in conjunction with your FICO® score and used to conduct a soft credit check to confirm your financial details. You don’t have to worry about soft credit checks by Credible since they do not dent your credit score.


Credible is one of the best loan marketplaces out there, especially for refinancing student loans. The comparison chart of lenders is one of the idiosyncratic features that makes it unsurpassed. Given the diversity on the loan packages offered by the partner lenders, Credible ranks high in terms of loan marketplaces.

In addition, the fact that they are BBB accredited, have an A+ BBB rating speaks more about how the customers feel about Credible. Credible is the way to go should your credit be fair or better. What’s more, they have a 4.7/5 score on views corrected from 2813 customer reviews by Trustpilot.

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