Review for 2024


When it comes to applying for a loan, there’s no shortage of advice available. If you spend even five minutes doing a quick Google search, you’ll end up with millions of results!


But if you’re new to online lending, it can be hard to know what advice is worth listening to. And it’s even harder to know what lenders are trustworthy and whether you’re getting the best interest rates.

That is where companies like Credible can be helpful. Credible is not a lender, and they aren’t trying to sell you anything. Instead, you’ll fill out an application on the company’s website and let the company know what type of loan you’re looking for.

Credible will give you personalized loan options from up to 10 different lending partners in as little as two minutes. This article will explain how you can get started with Credible and a few things to keep in mind along the way.

What is Credible?

Credible is a free online loan marketplace that allows borrowers to shop around for the following products:

After applying for a loan, Credible will give you loan quotes from multiple lenders. These customized matches make it easy for you to quickly compare rates and find a lender that’s right for you.

Credible Student Loan Refinancing

If you’re looking to lower your interest rate or change your repayment terms, student loan refinancing is your best option. If you have several private or federal loans, you can take out a new loan to pay off your old loans.

Credible allows you to compare student loan refinancing options from many top lenders, including College Ave, Citizens Bank, SoFi, and more.

Credible Private Student Loans

If you’ve hit your limit with federal student loans, you may need the help of a private student loan. With Credible, you can compare private loans, eligibility rules, interest rates, and terms without affecting your credit score.

Credible partners with vetted private student loan lenders like Ascent, College Ave, Citizens Bank, Discover, Sallie Mae, and more.

Credible Personal Loans

Credible offers personal loans with APRs as low as 5.40% (with autopay). The loan amounts offered by Credible range from $600 to $100,000, and the terms of a personal loan are from 1 to 7 years.

One of the benefits of using Credible is that it allows consumers to compare rates and personal loan offers from multiple lenders. This can be particularly useful for people looking to pay off high-interest credit card debt, or to finance a major expense like a wedding.

Pros and Cons of Using Credible

There are many advantages to applying for a loan through Credible, but there are some drawbacks you should consider as well. You can consider the following pros and cons before applying.


  • Receive offers from Credible’s partner lenders in as little as two minutes.
  • See a side-by-side comparison of these lenders.
  • The company does a soft credit check, so your credit score won’t be dinged.
  • Borrowers with low credit scores can apply with a cosigner.
  • None of the loan providers that Credible works with charge an origination fee.


  • The prequalification rates are not guaranteed—these are just estimates given based on the initial information you provided.
  • If you’re refinancing your student loans, you’ll lose access to federal benefits like income-driven repayment plans and student loan forgiveness programs.
  • Credible will give you access to some great lenders, but they don’t represent every lending company available.

How do I apply for a loan on Credible?

Whether you’re looking for student loan refinancing or a personal loan, Credible has options for you. Listed below are the three steps you’ll take when applying for a loan on

Step 1. Get Prequalified

You’ll start by going to Credible and filling out a brief form. Then, you’ll share the following information:

  • Name
  • Address
  • Birthdate
  • Highest education level
  • Credit score

Filling out this information allows Credible to match you with up to 18 different lenders that could be a good match. Then, once you’re finished, the company will make a soft credit inquiry on your credit report, so your credit score won’t be affected.

Step 2. Compare Loan Offers from Vetted Lenders

Once Credible has evaluated your application and assessed each partner lender that could be a good fit, they’ll send you a list of options. These options will be presented side-by-side and will include the following criteria:

  • Total loan amount
  • APR
  • Loan terms

This side-by-side comparison makes it easy to compare lenders and see which one offers the best interest rate.

Step 3. Pick a Lender and Finish the Loan Application

Once you’ve had some time to evaluate your options, you’ll choose a loan offer that’s right for you. Then, you’ll complete the entire process on Credible, and the lender will do a hard credit pull.

A hard credit check will affect your credit score slightly, so you want to avoid completing this final step unless you’re sure which lender you intend to go with.

Once you’ve been approved for the loan, the lender will reach out to you to complete the loan process. At this point, you’ll be done with Credible. Both the loan and your future payments will go through your lender, not Credible.

Who can apply?

Credible works with all different types of personal loan, mortgage, and student loan borrowers, regardless of their credit score and personal history. However, you do need to meet the following requirements:

  • Be a U.S. citizen.
  • Have a permanent address in the U.S.
  • Be at least 18-years-old.
  • To refinance student loans, you must have at least $5,000 in outstanding student loan debt.
  • For private student loans, you must be in school or planning to go to school.

However, each lender will have different credit requirements. So just because you meet Credible’s requirements to apply doesn’t mean that an individual lender will be willing to work with you.

If you have bad credit and are having a hard time getting prequalified on Credible, then using a qualified cosigner can help. Many lenders will require a cosigner if you don’t have good to excellent credit.

Applying with a Cosigner

To apply with a cosigner, you’ll provide their information in the sign-up form. Then Credible will reach out to that individual to finish the application process. You will not be able to view your cosigner’s personal information on Credible.

However, that person will be on the hook if you stop making the monthly payments on your loan. So only apply with a cosigner if you’re confident you can make the monthly payment. Otherwise, you’re putting that individual’s financial future in jeopardy.

Credible Reviews

Credible was founded in San Francisco in 2012 and currently has an A+ rating from the Better Business Bureau. They also received an excellent rating from Trustpilot, and at the time of this writing, 96% of the Credible reviews were either great or excellent.

At least some negative reviews are inevitable. But overall, most borrowers that use Credible seem to have a positive customer service experience.

Credible: Frequently Asked Questions

Is Credible a loan company?

No, Credible is not a lender. It’s a free online loan marketplace that allows you to compare interest rates and loan offers from potential lenders.

Is Credible legit?

The online lending space has exploded in the past few years, and it can be hard to know which lenders to trust. But Credible makes this process easy by hand-picking qualified lenders for you.

Credible is a reputable company and legitimate way for borrowers to compare loan offers from multiple lenders.

Is safe?

Credible’s website uses industry-standard encryption and SSL technology to protect your privacy. So, your information is secure and safe.

Credible does not sell or rent consumer data to lenders, resulting in unexpected and unwanted phone calls and texts from these lenders. Instead, they give you personalized rates from their lending partners, and it takes less than 3 minutes to see your prequalified rates.

Does Credible affect your credit score?

Using Credible’s online marketplace to compare loan offers will not impact your credit score. During the prequalification process, Credible will perform a soft credit pull to see what kind of interest rates you qualify for. 

However, if you decide to apply with one of Credible’s partner lenders, the lender will perform a hard credit check. The hard credit inquiry will appear on your credit report for up to two years and have a slight impact on your credit score.

Final Thoughts

Even though Credible matches you with multiple lenders, there is no guarantee that any of the lenders will be willing to work with you. Whether you qualify for a loan depends on factors like your credit history and income.

But as long as you’re an adult and a U.S. citizen, you’re able to apply on Credible and see what companies they’ll match with you. When applying, here are a few things you should keep in mind:

  • Don’t rely solely on Credible’s recommendations; you should always do your own research on any lenders you are considering.
  • Prequalification rates are estimated based on the information you provided. The interest rate could change slightly once you finalize the loan application process.
  • If you’re having a hard time getting prequalified, using a creditworthy cosigner can help.
Jamie Johnson
Meet the author

Jamie Johnson is a freelance writer who has been featured in publications like InvestorPlace and GOBankingRates. She writes about various personal finance topics including student loans, credit cards, investing, building credit, and more.