Credible is a student loan company that was founded in San Francisco in 2012 by CEO and Australian native, Stephen Dash. The idea for Credible sprouted from Dash's response to American student debt and how much of a toll it takes on students. Credible strives to provide students multiple lenders and rates to help them choose their financial future.
Credible offers borrowers a wide range of lenders to consider. With multiple lenders, borrowers are able to research which lender gives them the best loan for their situation. This feature allows borrowers to make their own decisions regarding their loans and provide knowledge of various lenders that are available to them. Because each lender is different, borrowers can choose between fixed rates, variable rates, deferred repayment, and interest-only repayment options.
APR rates are definitely something to consider when looking into student loans. Credible claims to provide borrowers with fixed rates as low as 4.7% and variable rates as low as 2.93%. These rates are considerably lower than those of other student loan companies.
Credible claims to finance almost any degree out there. This is an advantage because their flexibility is due to their multiple lenders option. There are few boundaries that accompany Credible's student loan variety.
Due to Credible’s relative inexperience in the student loans industry, more time is required before it can be considered totally reliable. This is not to say that Credible is a bad company; however, in such a competitive and rapidly evolving industry, the company needs time to establish a proven track record of success.
In order for borrowers to start their search for a lender, they must complete the prequalification process first. When you receive prequalified rates, there is no definite guarantee that those are the rates that will be used. Credible’s website states that lenders “reserve the right to change or withdraw prequalified rate at any time.” This may present a sense of insecurity to borrowers who expect these exact rates.
Credible does not guarantee that a borrower will receive an offer from a lender. Although they pride themselves on giving borrowers low rates, they really leave the process in the hands of the lenders themselves. This can present a problem to the borrower who doesn’t receive an offer from a lender as the borrower might not be able to move forward without an offer.
As part of our service, we attempt to partner with all the companies that we review, and may get compensated when you click or call them from our site; however, regardless of any current, past, or future financial arrangements, companies listed on Best Company cannot buy their position, nor do we manipulate or inflate a company's ranking for financial gain. A company’s ranking is based on and calculated by an objective set of ranking criteria, as well as user reviews. For more information on how we rank companies, click here.
All user reviews posted on Best Company are subject to screening and approval. We reserve the right to approve or deny any review posted to this site in accordance with our Review Guidelines. Best Company never suppresses user reviews—unless they are being investigated for authenticity, or if they violate our review guidelines. We encourage anyone who suspects a user review to be fraudulent or intentionally inaccurate to please notify us here.
Easy to use website. Very helpful and friendly when I called in with questions.
So glad I saw the advertisement before I sighed a loan somewhere else. Credible saved me a lot of money. Extremely easy to use & gave several options
Credible truly helped us to compare student loan options in a timely and concise manner. College financing made much easier with this site!
Very simple experience. Credible gives you all the information you need to make a decision on what loan suits your needs. If you have any questions their customer service team will answer and guide you through the process. I high recommend Credible for your financial needs.
The process was very easy and fast. I also got the best rate.
I am currently applying, for the 8th time, for student loans with one of my children. In the past I have filled out multiple applications to price shop for the best rate. This is the first year I used Credible and found them to a breeze! Next year, I will just fill out their form and let them do the rate shopping.
Credible made it easy to secure a college loan that best met our needs. They followed up to make sure everything was on track.
It was nice having options listed and explained in a clear way. It was nice knowing when they would actually check my credit score. I recommended it to several people already.
The lender’s web site and loan process was unnecessarily complex, confusing, and poorly designed. However, Credible’s staff was prompt, friendly, and efficient in helping me through the process, including facilitating multiple 3-party teleconferences to straighten things out.
Credible was able to give us much more student loan options than we would have been able to find on our own. The comparison process was extremely easy to use and helped us find the absolute best rate and terms.
I ended up getting half the interest rate versus when I applied through Sallie Mae
User friendly, fastest way to find the best rates on student loans.
Excellent, professional, they helped me navigate through the process and explained all the steps necessary to obtain best loan for my son.
From the time I decided to use Credible, I experienced professional friendly service. I was afraid that I be put through a lot of distress, but everything was easy, and went smooth. I really appreciated your patience in my time of need. Thank you.
Very Professional Experience. There were some minor fulfillment issues, but overall very positive.
Credible was very helpful with my daughter's student loan process. I would definitely recommend.
Credible was very helpful pointing us in the right direction for a student loan. I thought the service ended there once I applied: however, a follow up call asking how things were proceeding and if I needed any help was received several days after applying for the loan. The girl I spoke with was very nice and told me to call if I needed any help or had any questions. I'd use the website again.
Customer service and complete fulfillment with great results. Excellent, thank you.
Easy to submit the application and every process could be done through online.
Credible agents were very helpful getting me the information to completing my application with College Ave. The application was very easy to use and understand. Thank you for all your help!
The private college loan process was made much easier by Credible.
I found the site very easy to use, well organized, and when I had questions, I got a response really quickly. I used Credible mostly to compare loans and they made it easy to organized the different options by what was most important to me. It also made the transition for credible directly to the lender really simple. They sent reminders but not too often and everything went through pretty quickly. I'll likely use them to organize more in the future.
The customer service was wonderful, and I actually don't have anything to complain about! I'd recommend credible to anyone!