Review for 2021

Student Loans

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 or not 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 personalized matches to up to 10 different lenders. These customized matches make it easy for you to quickly compare your options and find a lender that’s right for you.

Get started with Credible on Credible’s secure website

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 federal or private student loans, you can take out a new student 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 student 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 5.95% (with autopay). The loan amount ranges from $1,000 to $100,000, and the loan terms are from 2 to 8 years.

Whether you’re looking to finance a wedding or pay off high-interest credit card debt, Credible can help you compare rates from multiple lenders. This will ensure you get the best personal loan available.

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 online marketplace from numerous 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 co-signer.
  • There are no origination fees.


  • 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?

Credible refinance

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 personally match you with up to 10 different lenders that could be a good match. Then, once you’re finished, the company will do 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 pick the lender 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 don’t want to complete this final step unless you’re sure which lender you want to go with.

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

Get started with Credible on Credible’s secure website

Who can apply?

Credible works with all different types of 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 its own 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 co-signer can help. Many lenders will require a co-signer if you don’t have good to excellent credit.

Applying with a Co-Signer

To apply with a co-signer, you’ll provide their information in the signup 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 co-signer if you’re confident you can make the monthly payment. Otherwise, you’re putting that individual’s financial future in jeopardy.

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 legitimate way for borrowers to compare loan offers from multiple lenders.

Credible Reviews

Credible was founded in 2012 and currently has an A+ rating from the Better Business Bureau. Credible 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.

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 or not 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.
  • A prequalification offer is just an estimate 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 co-signer can help.
Get started with Credible on Credible’s secure website
Jamie Johnson
Meet the author

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