Since 2012, Credible has offer consumers a fast, easy, and most importantly, reliable platform to search for and compare loan quotes in real-time for private student loans, student loans refinancing, personal loans, credit cards, and mortgages. Credible has a strong leadership team with over 150 employees and works with more than 280 experienced partners.

4.0 out of 5.0 stars

Credible Fast Facts

Loan Amounts: $1,000 to $100,000
APR: 4.99% to 35.99%
Minimum Credit Score: 680

Repayment Terms: 2 to 7 years
Direct Lender or Marketplace: Marketplace
Turnaround Time: As soon as the next business day
Best For: People with good credit scores who want to consolidate their debt.

Credible Pros & Cons

Pros

Single application to view multiple lenders
No fees
Personal information is not shared
Best Rate Guarantee

Cons

Some affiliate lenders charge fees to borrow
Does not work with credit unions or refinancing companies
Limited lending opportunities

Credible Cost of Loan

Credible offers fixed-rate unsecured personal loans ranging from $1,000 to $100,000. Their lowest rates are extremely competitive, with a low APR starting at 4.99% to 35.99%. Borrowers should remember that terms can be altered even after you receive a pre-qualification offer. Loan terms are not guaranteed until the lender performs a hard credit check and confirms that your application is approved.

Credible Qualifications

To get started, there is a list of criteria you need to meet:

US citizen or permanent resident
At least 18 years of age
Credit score of 680 and over
A valid checking account

To apply you need to have access to the following information as well:

A government-issued ID
Annual income before taxes
Social Security number
Employment status

After you’ve met all the qualifications, you can get started by following these few steps:

Click Check my rate to be redirected to the online form.
Click Find My Rate on the form to get started.
Enter your loan amount and loan purpose, then enter your preferred monthly payment.
Fill in your basic personal information and current address and social security number.
Create a user account
Read disclosures, terms, and conditions. Check your options

Once your application is processed, they will carry out a short ‘soft credit’ check to verify your credit rating and identification details. After that, your credit result and application are sent to several loan companies. If you are pre-approved, you will be redirected to the lender’s website to finalize your application and learn your approval status.

Credible Reviews and Ratings

Credible’s BBB Rating is A+

Credible’s reputation online is outstanding, most customers are pleased with how easy it is to find great rates. It is a BBB accredited business with an A+ rating. And, reviews on Trustpilot are excellent as well, it scores an average rating of 4.7 stars out of 5.
However, some borrowers were complaining about how many phone calls they received after providing their contact information, which is a common complaint about the online loan marketplace industry.

Things to remember

They are an online fixed-rate unsecured personal loans marketplace and does not fund loans. It instead exists to aid you in searching and deciding on a suitable lender, as well as helping you compare loans.
They do not explicitly set your interest rate or repayment term, instead, you will have to check your lender’s repayment policy for information on repayment methods and potential fees for late payments.
They will use your information to find some lenders that may be able to fund your loan — which will result in marketing materials. However, you can limit sharing and opt-out of promotions by clicking the unsubscribe link in any emails.
It’s free and while its partner lenders do pay a fee, the fee does not impact the terms of your loan or the amount you pay the lender.
Make sure to keep in contact with Credible and your lender when you have any questions

In conclusion

Bottom line, Credible is a convenient tool for anyone with a good to excellent credit score and a need to open a business, consolidate debt, or finance a major purchase. Its fast, easy, and secure web platform makes getting prequalified offers from lenders, effortless. In addition, Credible does not charge a fee for its service and it is a reliable lender with a solid reputation