finder.com's rating: 4.34 / 5.0
★★★★★
Bottom line: Credible is best for busy customers looking for high loan amounts who don't mind comparing offers from a more limited selection of lenders than they might find elsewhere.
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Credible personal loans review
Edited by Megan B. Shepherd
- Max. Loan Amount
- $200,000
- APR
- 6.99% to 35.99%
- Min. credit score
- Fair to excellent credit
Our verdict
Find loans up to $200,000 — but from a limited selection of lenders.
Credible is a free lending connection service that helps you quickly compare prequalified rates from its 14 partners, including top lenders like Sofi, Upstart and LightStream. While its number of partners is less than other marketplaces, you don't have to worry about being spammed because it doesn't sell your data.
Credible uses a simple application and a soft credit check, so you can see which lenders are willing to work with you without impacting your credit. While comparing loans is free and doesn't affect your credit score, applying for or closing a loan will result in a hard credit check and costs to you. Customers give it high marks for its streamlined application process and the ability to compare multiple lenders with a single form. Loan amounts, rates and terms depend on which lenders you're matched with.
Best for: Any type of credit borrower who wants to compare lenders quickly.
Pros
-
Free to use
-
Bad credit ok
-
No impact on credit score
-
Cosigned loans available
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Low minimum amount of $1,000
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Data isn't sold to lenders
Cons
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Not a direct lender
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Only 14 personal loan partners
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Some complaints around customer service
Details
Product details
| Min. Loan Amount | $1,000 |
| Loan Amount | $200,000 |
| APR | 6.99% to 35.99% |
| Interest Rate Type | Fixed |
| Min. credit score | Fair to excellent credit |
| Loan term | 1 to 10 years |
| Turnaround Time | As soon as 1 business day |
Contact info
| Phone number | 866-540-6005 |
| support@credible.com | |
| @Credible | |
| @CredibleLabs |
What makes Credible shine
Credible is a free connection service — there’s no fee to look for lenders and no obligation to move forward with one of its partner’s offers.
It features a simple interface that’s straightforward to use and compares lenders quickly. And to see offers, it’s a soft credit check so there’s also no harm to your credit score when using the service. Completing the form only takes about two to three minutes, so it’s rather fast.
Highly rated by past users
Credible is accredited by the Better Business Bureau (BBB) with an A+ rating, and most of its customer reviews on Trustpilot are positive. Most users cite an easy-to-navigate site, a quick and painless process and satisfaction with the loan offers they received.
And a major plus: Most connection services have dozens or hundreds of negative reviews about how telemarketers or third-party lenders relentlessly target past users. LendingTree — a larger competitor with hundreds of partners — has dozens of negative reviews where users complain of constant spam calls and emails after using the service.
But with Credible, that’s not the case.
Credible states that it doesn’t sell your phone number to its partners, and after sifting through its negative reviews to find no mention of annoying spam calls, it’s refreshing
Where Credible falls short
Like other connection services, Credible isn’t a direct lender, so terms vary widely and the cost to borrow depends on the lender you choose to go with. Credible’s lender network funds loans between $1,000 to $200,000, and APR ranges anywhere from 6.99% to 35.99%, which is a pretty large range.
And while Credible is a free service, you must create an account to see offers. Not all connection services require account creation.
Small network of lenders
Credible has only 14 personal loan partners. While Credible’s personal loan network is composed of very well-known lenders — such as Discover, Lightstream and SoFi — it’s a small network compared to other connection services.
LendingTree has over 500 lending partners and Fiona (rebranded from Even Financial) has over 300. While not all of the competitor’s partners are personal loan providers, that’s still significantly more partners — and the more partners a connection service has, the better chances you have to get matched with a lender that suits your situation.
Credible loan details
The exact personal loan you can get varies, but here are some ranges to expect.
| Minimum credit score | None |
| APR | 6.99% to 35.99% |
| Loan amounts | $1,000 to $200,000 |
| Terms | Varies |
| Approval turnaround |
|
| Availability | Not stated, varies by lender |
| Fees |
|
How to qualify for Credible
Credible doesn’t list exact requirements on its website, but you must meet these basic requirements to qualify with a lender in its network:
- At least 18 years old
- Active checking account
- US citizen or permanent resident
Based on Credible’s lending network, you may need good to excellent credit to qualify with the majority of its lending partners.
How to apply
Credible features a quick form, which takes around two to three minutes to complete if you know your basic personal information, such as your annual income and how much you need to borrow.
- Submit the free form.
- Review Credible’s list of prequalified rates.
- Select an offer and proceed with full application.
- Accept loan terms and follow repayment plan.
If you accept a loan offer listed by Credible, it doesn’t actually issue the loan. The connection service also doesn’t conduct hard credit checks, send you funds or charge you to use the service.
If you complete the form and don’t like any of the offers, you’re not obligated to move forward.
How Credible compares to other lenders
1 - 5 of 5
Different connection services can get you different results. Here’s how two of Credible’s top competitors stack up when it comes to the types of loans its partners offer and their requirements.
Credible reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.25 out of 5 stars, based on 16 customer reviews |
| Trustpilot Score | 4.7 out of 5 stars, based on 6 customer reviews. |
| Customer reviews verified as of | 04 January 2024 |
Credible, a leading lending marketplace, has garnered predominantly positive customer reviews over its more than 10 years in business. Customers consistently praise Credible’s fast and easy application process, satisfaction with loan offers and helpful representatives.
On the other hand, there doesn’t seem to be a common thread in unsatisfactory reviews. Negative reviews mention a range of issues, from individual frustrations with being denied a loan or unique technical issues with the site.
Unlike other loan marketplaces, Credible’s complaints don’t mention spam calls. Credible’s site explicitly states, “We hate telemarketing calls so we never sell your information.” So, the lack of customer complaints seems to back up this claim.
Is Credible legit?
Yes, Credible is a legitimate lender connection service founded in 2012. It has lending partners across multiple loan types, including student loan refinancing, personal loans and home loans.
Credible uses data encryption (transport layer security), which protects sensitive information like social security numbers and other personal identifying information.
It also states in its privacy policy, “We do not provide personal information about you to other companies for money.” Advertising services can get information through cookies, but if you simply select Do not sell my information located at the bottom of the site, it will opt out for you.
Lenders in its network are also reputable, which include:
- Avant
- Best Egg
- Discover
- LendingClub
- LightStream
- OneMain Financial
- PenFed
- SoFi
- Universal Credit Services
- Upgrade
- Upstart
Frequently asked questions
Is it hard to get a loan from Credible?
Credible’s partners work with a wide range of credit profiles, including bad credit. So, if you have less than stellar credit, or haven’t established a credit history yet – you may be eligible for a loan through Credible, as long as you have sufficient income and/or proof of employment.
What credit score does Credible require?
Credible has no set credit score requirement. Even those with bad or poor credit may qualify for a loan through Credible, as long as they meet the lender’s income criteria and other requirements. One of Credible’s partners, Upstart, may accept scores as low as 300 and job offer letters as proof of income.
Bethany Finder
Editor, Banking
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