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LAST UPDATED: December 30th, 2021

Credible is a financial service marketplace 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.

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The Good

  • Multiple Lenders 
  • Low APR Rates 
  • Flexible Degree Coverage 

Multiple Lenders

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.

Low APR Rates

APR rates are definitely something to consider when looking into student loans. Credible claims to provide borrowers with fixed rates as low as 4.50% and variable rates as low as 4.20%. These rates are considerably lower than those of other student loan companies.

Flexible Degree Coverage

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.

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The Bad

  • Time in Business
  • Prequalification Process
  • No Guaranteed Lender Offer

Time in Business

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.

Prequalification Process

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.

No Guaranteed Lender Offer

Credible does not guarantee that a borrower will receive an offer from a lender. Although they pride themselves on getting low rates for borrowers, 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.


The Bottom Line

Credible provides borrowers with a variety of student loan options that allows borrowers to have major flexibility. They also present considerably low fixed and variable APR rates which helps borrowers get the financial plan they need to fit their situation. However, they haven't been in business long enough to acquire solid reliability, their prequalification process lacks clarity, and borrowers are not guaranteed an offer from a lender. Overall, they present borrowers with good options that are worth looking into.

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26 Reviews

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ash Stillwater, OK

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.

6 years ago

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Pete Francis

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.

5 years ago

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Christopher Dewitt Albany, NY

The customer service was wonderful, and I actually don't have anything to complain about! I'd recommend credible to anyone!

6 years ago


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Nathan Barney Jenks, OK

I got quotes through credible a couple of times. I ended up not refinancing but their site was easy to use and had create rates to compare.

2 years ago

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John G. Capilli Danbury, CT

Very Professional Experience. There were some minor fulfillment issues, but overall very positive.

6 years ago

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Donna Pella, IA

Easy to use website. Very helpful and friendly when I called in with questions.

5 years ago

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Young Choi Laurel, MD

Easy to submit the application and every process could be done through online.

6 years ago