Credible is a third-party company founded in 2012. Rather than providing rates for student loans from a single , Credible instantly provides users with a dashboard of student loan rates from multiple lenders. The dashboard gives users a side-by-side comparison of APR, monthly payment, and more. Finding a through Credible is absolutely free.
You can use Credible to refinance private and loans. And one feature that sets Credible apart from other marketplace platforms is the ability to help you even if you did not graduate. Potential customers should note, however, that to use Credible's service, they cannot be currently enrolled in school. Nevertheless, the ability to refinance for non-graduates is a unique value not offered by many in this industry.
Because Credible is a marketplace of lenders, there are a variety of discounts available to their lenders. When you sign up for Credible's auto pay service, you will receive a 0.25 percent discount-regardless of the you select.
You might be worried about a hard pull impacting your . Credible and its partners make soft inquiries to check what rates the customer prequalifies for, and only with the borrower's permission, leaving the customer's untouched.
Credible has predominantly positive . Most consumers like that it gives them the option to browse lenders from its . One reviewer said of Credible, "Credible gave me an easy way to compare my options for , and ultimately, helped me save over $11,000 by cutting my interest in half. Their team was responsive and helpful."
Credible works hard to inform consumers about topics related to lending, , and finance. Credible ranks and reviews its lenders and maintains blogs for three of its categories (, , and loans). Consumers can also read company FAQs on some of the basics of . Not only is the capable of serving up the best options, but it's also a platform for users to weigh the pros and cons of and learn more about its benefits.
Credible allowed me to quickly and easily understand whether or not I was overpaying on my student loans. As it turns out, my interest rates were competitive and would not benefit much from refinancing. The site was easy to navigate and saved me the hassle of having to explore lenders directly to know if I could benefit from refinancing. I would recommend Credible to anyone with student loans to check them out for reassurance purposes or if your interest rates are high, save some money without much hassle.
This company shopped my personal information to many different financial institutions. Each of these banks did a hard inquiry on my credit report. This dropped my credit score by 10 points in the middle of a time when I am trying to buy a house. This company NEVER disclosed they would be shopping around my personal information for their benefit. Moreover, they never stated a hard inquiry would be performed on my credit. This company is the antithesis of the word credible. Please avoid this company - they are not professional in how they do business.