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LAST UPDATED: May 19th, 2021

Founded in 2012, with its headquarters in San Francisco, California, Credible offers student loans and personal loans to customers in need. The company will also help you refinance your student loans to a more attractive rate. Credible has a simple, hassle-free lender-searching process and has loan packages that meet the needs and preferences of just about anyone.

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The Good

  • No Fees and Super Fast
  • Plenty of Options
  • Loans to Match Your Needs

No Fees and Super Fast

Two things that often scare people about applying for loans are the time it takes and the hidden costs that often accompany applications and processing. You'll get neither of those with Credible. Finding rates literally takes a few moments, and you'll never have surprise fees pop up. The service is free and swift. You can also easily compare different rates and see which ones are best for you. 

Plenty of Options

Credible can connect you with 11 different lenders, helping you to have plenty of choices to make your decision. This helps ensure you are getting the best rate possible. We like the fact that Credible will also help you with your student loans, whether you need refinance the loan you currently have or if you are going back to school and need some financial help getting started. We also appreciate that Credible has customer service agents available to help you via chat, phone or email. 

Loans to Match Your Needs

When it comes to personal loans, you may be looking for a large amount to finance a big home project, or you may just need a few hundred bucks to take care of some nagging medical bill. Credible can help you find loans anywhere from $500 to $100,000. Customers are thrilled that Credible has helped them lower their student loan rates, thus saving them tens of thousands during their loan term. Customers who get this help are then able to take those savings and pay off other debt and take care of other pressing financial issues. In addition, customers appreciate the low rates they can obtain for personal loans, given they have good credit. Single rates start at 5.95% APR (with autopay)*


The Bad

  • Be Careful of the Rates
  • Credit Hit
  • Relentless Contacting
  • Poor Usability

Be Careful of the Rates

If you have good credit, you should be in good shape to secure a favorable personal loan rate. But if you have poor credit, you might not even want to use Credible because the company will hook you up with lenders whose rates can be as high as 35.99 percent.

Credit Hit

If you use Credible to run a credit report prior to applying for a loan, continue to be aware of your credit score. Your score may be affected when the lender you choose pulls your credit report.

Relentless Contacting

One negative aspect of using Credible is that once you choose a prequalified offer to move forward with and send the company your information, you'll start getting phone call after phone call. The barrage of calls can be frustrating to say the least. Customers consistently complain about constant phone calls and email from lenders, almost to the point where they feel as though they are being harassed.

Poor Usability

Prospective customers should know that they might be confused during the Credible account creation process as previous customers have requested more clarity. Also, some of the lenders you are connected to don't seem to be the most reputable businesses around.

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The Bottom Line

As its name would imply, Credible is a trusted business. This company would be recommended for people with good credit needing personal loans or student loan refinancing. If your credit is poor, you should probably seek other options for your financial needs.

*Read rates and terms at Credible.com

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