Credible Loan Reviews: 2020 Edition

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Looking for the best way to borrow money?

To help you in your search, we have reviewed the top lending platforms.

On this page you will find the following information:

  • What is Credible and who it is best for
  • How to apply for a loan via Credible
  • The terms and requirements of getting a loan with Credible
  • Credible loan reviews
  • The pros and cons of using Credible
  • The costs associated with using Credible
  • Your privacy and security when using Credible
  • Frequently asked questions (FAQ) about Credible

Editorial Rating


  • A+ BBB rating.
  • Reputable partner lenders, such as Prosper, SoFi, Upgrade, etc.
  • Submitting an application is free.
  • Uses 256-bit encryption to secure your information.
  • Loan terms range from 24 to 84 months.
  • Loan amounts range from $1,000 to $100,000.
  • Funds can be transferred within a week.
  • FAQ section.


  • Credible may share your personal data with third parties.
  • Loan amount term, interest rate type, fees, and requirements vary by lender.
  • Being pre-qualified doesn’t guarantee approval.
  • Somewhat limited selection of lenders.
  • Before reaching a final lending decision, loan providers may do a hard inquiry which can impact your credit score.

Credible Loan Recap

Loan Amounts

$1,000 - $100,000

Loan Term

24 to 84 months

APR Range

4.99% - 35.99%

Min. Credit Score




Funding Time

Within a week

Years in Business


BBB Rating


Min. Revenue

Not specified


United States

What Is Credible?

Credible is an online market place platform where people have the option to view and compare financial products from multiple providers, such as loans and credit cards, to find the right loan or credit cards for their needs.

Credible is not a direct lender — but rather, a platform where people can find the best available lenders for their financial situation.

Who Is Credible Best for?

Credible is best for those that want to discover personal loans without going to multiple financial institutions and waiting to find out if they qualify.

By using marketplace platforms such as Credible, borrowers can view, compare, and see if they prequalify for a loan online without the move affecting their credit score.

Another advantage of using Credible is its 100% free service.

Filling out the online form on Credible simply to view loan offers and see if you prequalify for a loan won’t cost you a thing.

Getting Started with Credible

To get started with Credible, you need to visit the official website and fill out a free application.

Credible Loan Reviews - Select a Product

(Image Source: Credible)

The financial products available include student loans, student loan refinancing, mortgage, mortgage refinancing, personal loans, and credit cards.

We opted for a personal loan.

Credible Loan Reviews - Personal Loans

(Image Source: Credible)

The next step is to choose the loan amount. You can request a loan amount from anywhere between 1,000 and $100,000.

Then, a window will pop up and you will need to select the purpose of the loan.

Credible Loan Reviews - Loan Options

(Image Source: Credible)

You can choose between the following types of personal loans:

  • Pay off credit cards
  • Debt consolidation
  • Home improvement
  • Major purchase
  • Car financing
  • Moving/relocation
  • Business
  • Special occasion
  • Wedding
  • Taxes
  • Home buying
  • Vacation
  • Baby or adoption
  • Green loan
  • Cosmetic procedures
  • Motorcycle
  • RV
  • Boat
  • Engagement ring financing
  • Other

The next question is: ‘What’s the highest level of education you’ve completed?

You can choose between:

  • High school
  • Associate
  • Bachelor’s
  • Master’s (excluding MBA)
  • Less than high school
  • Certificate
  • MBA
  • Dentistry
  • Law
  • Medicine
  • Pharmacy
  • Veterinary medicine
  • PhD
  • Other graduate degree
  • Other

Then, you will need to provide info about your employment status:

  • Full-time employed
  • Part-time employed
  • Self-employed
  • Retired benefits
  • Unemployed
  • Military
  • Other

Credible Loan Reviews - Annual Income

(Image Source: Credible)

Moving on with:

  • How much do you earn annually before tax?
  • What is your approximate credit score?
  • First Name
  • Last Name
  • What is your date of birth?
  • What is your home address?
  • Do you rent or own this home?
  • What is your monthly housing payment?
  • Are you a U.S. citizen?
  • What is your social security number?
  • What is your phone number?
  • Create an account to see your loan options

Terms & Requirements

Using Credible to discover personal loans is 100% free. Credible doesn’t charge users to view and compare loans from their network of lenders. They receive a fee from their partner lenders and this is how they make money.

The minimum loan amount you can request is $1,000, while the maximum loan amount stands at $100,000.

The rates for personal loans range from 4.99-35.99% APR with terms from 24 to 84 months.

The rates for student loans range from 1.47% variable and 3.95% fixed.

Credible Loan Reviews - Student Loans

(Image Source: Credible)

There is no minimum credit score requirement, however, those with a poor credit score/ credit history can have a creditworthy cosigner and thus improve their chances of getting prequalified for a loan.


Does Credible pull my credit?

Credible will perform a soft pull or a soft inquiry to provide you with a personalized loan offer.

Soft credit inquiries won’t affect your credit score.

All legitimate lending platforms need your credit history to match with a loan provider. If a lending platform doesn’t require a credit check, it could be a scam.

Once you have compared the multiple loan offers and chosen a lender, the lender will perform a hard inquiry before reaching a lending decision.

Hard inquiries can damage your score by an average of 5-10 points.

And these are the typical loan requirements:

  • You must be 18 or older
  • You must be a US citizen or permanent resident
  • You must have a valid social security number
  • You must have a verifiable bank account
  • You must have a steady stream of income

Other factors that can influence your loan approval are:

  • A responsible credit history
  • A sufficient income after monthly expenses
  • Availability of collateral
  • Location
  • Financial situation
  • Loan amount
  • Loan usage
  • Cosigner

User Reviews

We looked up Credible loan reviews from various sources and we will now sum all of the good and bad things consumers had to say about this platform.

Starting with the good:

  • The process was easy
  • Customer got approved quickly
  • Customer service was available and helpful
  • The rates were good
  • User friendly
  • Best student loan refinance option

Credible personal loan reviews:

review-01Credible Loan Reviews - Review 1

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Credible Loan Reviews - Review 2

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Credible loan refinancing reviews:

Credible Loan Reviews - Review 3

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Credible student loan reviews:

Credible Loan Reviews - Review 4

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Credible Loan Reviews - Review 5

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And here are the bad Credible loan reviews we found online:

  • Customer got pre-approved for a loan and was rejected after applying
  • Referral bonus not honored
  • Final rate was higher than the one offered
  • Customer support wasn’t responding

Credible referral bonus review: 

Credible Loan Reviews - Bad Review

(Image Source: Trust Pilot)


Credible Loan Reviews - Features 2

(Image Source: Credible)

Rates & Fees

While using Credible to get matched with large authorized lenders is free, the final costs depend on the loan provider.

It is best to check the loan agreement before signing for any costs and fees the lender may charge.

For example, loan providers can charge late payment fees, an origination fee, etc.

It is also important to note that platforms such as Credible most commonly list the estimated annual percentage rate of the loan.

Once you have chosen the best option for you and applied with that lender, the loan provider will do a hard inquiry and based on that provide you with a final loan offer.

So, a platform such as Credible can only be used to compare student loans, personal loans, mortgages, etc., and get matched with unique lenders.

Although it is the best comparison tool for loans — it is only that. Once you have been matched with a lender, you should contact them for the precise rates and fees of the loan.

Credible Loan Reviews - Rates

(Image Source: Credible)

Privacy & Security

Credible collects the information that you provide, location information, cookies, and information about your browser, IP, the device used, etc.

The information collected about you is used to:

  • Provide you with the services you requested
  • To communicate with you
  • To provide personalized content
  • To send you surveys and offers
  • To market and advertise
  • To research and analyze and for certain business operations

Your information will be shared with:

  • Providers of the service you requested
  • Affiliates
  • Marketing partners
  • Third-party service providers that work on behalf of or with Credible

Credible uses 256-bit encryption and SSL technology to keep your data secure.

While Credible takes measures to protect your information, no Internet transmission or storage of information is 100% safe. Credible is also not responsible for the security measures of third parties.

You have the option to call support or fill out this form in order to submit a Request to Know or Request to Delete.

And you also have the option to request to opt-out: DO NOT SELL MY PERSONAL INFORMATION — REQUEST TO OPT OUT.

Customer Support

Customers can email Credible at, call at 866-540-6005, or chat with a member of their Client Success Team directly on the website.

Final Verdict

Now, let’s sum up what we liked and what we didn’t like about Credible.

What we liked most is that borrowers in the United States can use this platform to view and compare the best possible loans. Credible has a broad loan range, so most borrowers will probably get matched with the type of loan that works best for them.

The process is free and only a soft pull is performed — which means that comparing loan offers won’t damage your score.

There aren’t a lot of required qualifications to apply and even those with bad credit can give it a shot.

We also read some good reviews about Credible loan consolidation offers and we also recommend that borrowers check out their student loan refinancing rates.

We also liked that they had clear instructions on how to request to opt out.

What we didn’t like is common for all online platforms that offer personal loans to borrowers: no online transmission of data is 100% secure and the pre-qualified offer is not final.

All in all, we recommend Credible and believe it is one of the best places to get a personal loan.

Editorial Rating


Is Credible legit?

Yes, Credible is a legitimate company and has been accredited by the Better Business Bureau. Here are some signs that show that a loans company is a scam: There is no physical address listed. The website is not secure (no padlock symbol or no “s” after “http” on the site address). The lender doesn’t check your credit history – all reputable lenders check your credit report before approving your loan.

Is Credible a good loan company?

Yes, Credible is a good loan company and it has an A+ rating from the Better Business Bureau. They also have an extensive FAQ section on their website which includes everything you need to know before applying for a loan.

Does Credible affect credit score?

Credible only does a soft pull to check your eligibility for a loan. Soft pulls don’t affect your credit score. After you decide to apply for a loan with one of the lenders you were matched with, then the loan provider will do a hard pull before reaching a decision. This can damage your credit score by 5-10 points.

Does Credible verify income?

Yes, Credible does verify your income as well as other important information that is taken into consideration when applying for loans.

Is my information kept secure when I apply through Credible?

All the information you provide to Credible is encrypted. That said, no application for an online personal loan is 100% secure. Your information will further be shared with their extensive network of lenders and partners unless you opt out.

How does Credible compare to other lenders?

We believe that Credible is one of the top loan connection companies and one of the few that has a good rating with the Better Business Bureau. If you are looking for emergency funding, then it is a good lending option. Before you reach a final decision, look up other Credible loan reviews and check out our Guide to Lenders, 5K Funds,, Upgrade, Loans Under 36, AmOne, and Even Financial reviews.