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's low-range rates are considerably lower than those of other student loan companies; however, eligibility for lower rate options will be based on your current finances and creditworthiness.

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.

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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.

_{*Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.}

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User Reviews

Star Rating

4.8

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26 Reviews

Review Breakdown

5 grade

73%

4 grade

27%

3 grade

2 grade

1 grade

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Mary Christensen

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.

7 years ago

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Stanley Zabielski Chicago, IL

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.

6 years ago

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Roxanne B Litchfield Park, AZ

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.

6 years ago

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Jalen Elston Memphis, TN

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.

6 years ago

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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.

7 years ago

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Erin Williams Raleigh, NC

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.

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.

6 years ago

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Adam Gooch Gardendale, AL

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.

6 years ago

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Heather Asher

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!

7 years ago

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Brenda Nakhon Sawan, 60

Credible helped me through college. I wanted to go to college but couldn’t afford going to multiple semesters like most of the people my age. I am still in debt but I got an education so that I am now able to make a living.

3 years ago

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Lorine Tschopp Philadelphia, PA

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

6 years ago

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Elizabeth Massa Mansfield, OH

Credible truly helped us to compare student loan options in a timely and concise manner. College financing made much easier with this site!

6 years ago

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Alissa Schleich Cary, NC

Credible made it easy to secure a college loan that best met our needs. They followed up to make sure everything was on track.

6 years ago

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jill Williams Maplewood, NJ

Excellent, professional, they helped me navigate through the process and explained all the steps necessary to obtain best loan for my son.

6 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!

7 years ago

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Lindsay Anderson Los Molinos, CA

I ended up getting half the interest rate versus when I applied through Sallie Mae

6 years ago

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Shannon Shanebrook Southfield, MI

Credible was very helpful with my daughter's student loan process. I would definitely recommend.

7 years ago

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Edward L Dougherty Phoenixville, PA

Customer service and complete fulfillment with great results. Excellent, thank you.

7 years ago

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Frank Rivera Lynnfield, MA

Credible staff worked with my to identify borrowing needs and establishing repayment terms and conditions.

2 years ago Edited January 14, 2022

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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.

3 years ago

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Vicky Davis Schofield, WI

The process was very easy and fast. I also got the best rate.

6 years ago

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Meghan McNeill Oxford, MS

User friendly, fastest way to find the best rates on student loans.

6 years ago

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John G. Capilli Danbury, CT

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

7 years ago

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Mike Prattville, AL

The private college loan process was made much easier by Credible.

7 years ago

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Donna Pella, IA

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

6 years ago

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Young Choi Laurel, MD

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

7 years ago