Advertiser disclosure
We independently analyze every product we recommend. When you apply for or open an account using our links, we may earn a commission. None of our content has been provided by, reviewed, approved or endorsed by any advertiser. Learn more »

Credible review

Credible is known to be the go-to solution for people looking to get lower rates on their student loan refinancing, private student loans, personal loans, mortgage loans, and more.

Picture this. You’re fresh out of college, ready to take on the world, and full of bright, hopeful ambition for your future. That zest for adventure lasts right up until you get your first student loan payment request. Your carefree attitude towards life inversely proportionally shrinks as your student loan payments climb.

Or maybe you haven’t even gotten to that stage of the game. Maybe you’re still looking to pay for college, desperate for a student loan approval. But where do you start? How much do you take out? And how do you find competitive rates?

Or maybe you’re ready to buy a house and you want a quick, easy way to get multiple quotes. Shopping multiple lenders takes time, but it’s important to ensure you get the best rate.

Or maybe you want funds for something like a wedding, an event, or much-needed home improvement. Regardless of the situation, this is where Credible steps in.

A lending marketplace, Credible offers people a quick, easy, and most importantly, reliable venue for comparing loan quotes from top name lenders. I’d seen quite a lot of talk about the company for a few years now, so I decided to test drive Credible’s platform to see if it lived up to the hype.

Here’s what I found out.

Credible Personal Loans

Credible is one of the most popular loan portals online today. It is a free tool that specializes in finding borrowers personal loans for the most competitive rates.

Loan amounts range from $600-$100,000 and offer interest rates starting at 7.49% fixed APR (with autopay) See Terms*.

  • Single application form
  • 100% free to use
  • Close with a better rate than you prequalify for on Credible and get a $200 gift card. Terms Apply.
  • Limited lending opportunities
  • Lender fees may apply
Learn More
Credible Credit Disclosure - Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

What is Credible?

Credible has been around since 2012. It offers students and consumers the ability to easily compare loan quotes in real-time for things like private student loans, student loans refinancing, mortgages, and personal loans.

The thing people like the most about this service (aside from the fact that it’s free) is that it makes comparing rates so simple.

How does Credible work?

Credible is an online marketplace, and works just like a traditional one, only a lot simpler, cleaner, and more convenient.

Borrowers can enter their information into the system and receive price quotes from several lenders simultaneously. They can then compare these personalized loan quotes to find the best option for them.

Here’s how it works:

Fill out the online application form

Credible Step 1 - Credible

This is great because everything is done online – a major plus – and the questions are all basic and easy to answer. Also, Credible’s application form only takes around two minutes to complete.

Instant prequalified rates

Credible Rates
For illustrative purposes only, actual results may vary.

These are real quotes, not general estimates based on the current rate. The quotes you receive will be based on your credit profile. Also, the information is updated and checked in real-time. So, the quotes you receive are accurate and up to date.

Compare the various student loan offers you are presented with

This is the best part of using Credible. You have several offers spread out before you in an easy comparison format, so you can see which one has the lowest APR, most flexible repayment terms, or the lowest fees.

Something neat about this service is how fast everything happens. As mentioned, the online process means no long waits in line, no sitting around in an office, and no annoying hard sells from an agent. Plus, Credible delivers multiple offers within two minutes. So, you’re saving a ton of time filling out application forms too.

Comparison shopping is really easy with this smart online tool. But the great thing about Credible isn’t even the ease of use. Rather, it’s what happens if you get stuck in the comparison stage. If you can’t decide between several offers, or if you can’t even decipher the differences, Credible has a dedicated Client Success Team with financial experts on call.

These pros will help you understand the offers you’re being given, clarify the strengths and weaknesses of each quote and brand, and help you come to the right lender for you.

Connect with your lender for the hard credit pull

When you’ve chosen a loan, you’ll upload the rest of your personal details, including bank account information and employment pay stubs. Credible has a good import tool that makes this stage much faster than it is with other lending portals I’ve tried.

This is the more thorough application process, and it’s when the hard credit pull will be done as well. Assuming everything checks out, Credible borrowers usually have their final offer within a single business day (from the final information upload stage). So, you could potentially have this process wrapped up in no time.

What’s worth noting here is that although you are able to get quotes from multiple lenders, at this point, none of your personal information is being shared with anyone else. This is important unless, of course, you enjoy getting those fabulously frustrating solicitation calls from every lender in the network. It’s also good to know that checking your rates with Credible has no effect on your credit score.

How much does Credible cost?

Credible Cost

The real selling point for many students and borrowers is the cost. Credible is a TOTALLY FREE service to use!

You can apply for, compare, and complete the entire borrowing process through the system without paying anything. Credible doesn’t charge any service fees, origination fees, or prepayment penalties.

Of course, you’ll need to pay the lender for the loan along with any fees that those lenders charge. But what is also encouraging is that Credible only partners with student loan and student loan refinancing lenders that also don’t charge origination, service, or prepayment penalty fees.

Some personal loan lenders charge an origination fee, though, so I’d definitely say to watch out for this. Credible makes a note of clearly stating when a lender charges this fee when you receive a quote. There may be added fees and charges that push the overall value of this particular loan offer way down to the bottom of the list. Also, make sure you take fees into consideration when calculating the overall savings you intend to have from taking out the loan.

Credible features

Credible is easy to work with and works with a lot of reliable lenders like College Ave, Citizens Bank, Sallie Mae, Discover, SoFi, and The College Investor.

Additionally, Credible has a few interesting features worth pointing out, including:

Best Rate Guarantee with Credible

When you’re getting a personal loan with a lender through Credible’s website, Credible wants you to be confident that you’re receiving access to the lowest interest rate in the market. That’s why they offer a Best Rate Guarantee.

Close with a better rate than you prequalify for on Credible and get a $200 gift card. Terms Apply. Nice!

Student loan refinancing

You can refinance all types of student loans, including federal, private, and ParentPLUS loans, though people will generally want to refinance their private student loans.

Credible Student Loan Refinancing

You can use Credible to compare refinancing offers from multiple lenders at once. Each lender has different benefits and interest rate ranges, so if one Credible lender can’t give you the interest rate you’re looking for, another one might.

Rates starting at 5.28% fixed APR (with autopay)* and 5.28% Var. APR (with autopay) See Terms*.

Special offer: Get a $100 bonus when you close your loan. All bonus payments are by e-gift card. See terms.
  • Single application form
  • Personal information is not shared
  • 100% free to use
  • Limited lending opportunities
Learn More
Credible Credit Disclosure - Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

Obviously, the goal here is to pay less than you are currently by either lowering your monthly payments or (better yet) your interest rate.

Private student loans

Credible partners also offer a range of student loan options, including fixed and variable rate private loans. These loans can cover most or even all of your student expenses, including books, dorms, transportation, and food.

Credible Private Student Loans

Credible is an 100% free to use aggregator that checks personalized rates from multiple lenders to help find a loan that works best for you, with options for many different college and university degrees to fit your goals.

Rates starting at 4.07% fixed APR (with autopay)* and 4.98% Var. APR (with autopay) See Terms*.

  • 100% free to use, done online
  • Partners have no origination fees or prepayment penalties
  • Close with a better rate than you prequalify for on Credible and get a $200 gift card. Terms Apply.
  • Limited opportunities shared based on prequalification
Learn More
Credible Credit Disclosure - Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

What I like about Credible for private student lending is the flexibility in repayment terms. Lenders offer a range of options, including deferred payments, interest-only payments, and flat rate payments.

Something else that Credible does really well with its private student loans is the cosigner addition. You can easily add a cosigner to your application, which can land you a lower interest rate on your loan and a greater likelihood for approval. Credible will even let you compare different cosigners to see which one will get you the best rates. That’s an impressive feature.

Personal loans

Credible lenders also offer personal loans that you can use for anything you want from home renovations to a dream vacation or your parents’ 70th birthday bash.

Loan amounts range from $600-$200,000 and offer interest rates

starting at 7.49% fixed APR (with autopay), See Terms*

. Borrowers can expect to get repayment terms ranging from one to ten years.

Mortgage loans

Ready to buy a house? Credible can help out there, too. Start your home buying journey with Credible’s streamlined pre-approval process. In just three minutes, you can get a pre-approval letter that will tell you exactly how much home you can afford. You’ll be presented with offers from multiple lenders with just one quick application.

Mortgage refinancing

Another area of financial assistance Credible offers is mortgage refinancing. The marketplace works with big names and provides both fixed and adjustable rate refinancing as well as cash-out refinancing.

Credible Mortgage Refinance

In only three minutes, you can get instant prequalified rates for a mortgage refinance with Credible. During that process, Credible delivers personalized prequalified rates from multiple lenders without affecting your credit score.

The entire process is entirely online for a seamless application.

  • Cash-out refinancing
  • Personal information is not shared
  • Transparency
  • Limited lending opportunities
  • Lender fees may apply
Learn More
Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states. | Credible Credit Disclosure - Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

My experience using Credible

Signing up for an account with Credible took less than a minute, and filling out the application form was under two minutes, so this isn’t a big-time investment.

After filling out the application, I got 12 loan quotes from some big names, like Citizens Bank and EdvestinU. I clicked on the Citizens Bank rate quote to get a little more information since that had the lowest APR. Credible currently 17 personal loan lenders on their platform.

Credible did a great job of giving lots of information in the drop-down screen, while keeping the comparison screen info to a minimum for easy comparisons.

Credible - Citizens Bank Quote

I also loved how transparent and jargon-free the experience was. A lot of times, people can get lost in the industry language that gets thrown around these finance sites. Credible does a great job of explaining everything.

But what really sold me was the customer care. Whatever question I had, Credible was there to answer it with patience and industry expertise. They walked me through the full process from start to finish.

It was all very impressive and has made me a fan.

Who should use Credible?

Credible is a good option for several types of borrowers, and it might be a good option for you if you are:

Someone who has a private student loan with a high interest rate

Student loans can often come with high interest rates, making the overall cost of the loan more than necessary. Lowering your rates will allow you to pay off your loan faster and pay less over the life of the loan.

Someone who wants to pay off their federal student loans faster

Someone with an IBR, PAYE, or RePAYE loan, for example, will have their monthly payments tied to their income. However, income-driven loans can end up costing you a lot in interest payments over time.

If you can afford to pay it off faster, it’s always best to get rid of your student debt ASAP. Many of these loans come with caveats that don’t allow you to increase your monthly payment or tie you to a specific payment plan. But if you take out a new loan, you can repay the entire thing in one lump sum, and then save yourself the additional, not to mention drawn out, interest charges.

Just remember that when you pay off your federal student loans faster, you may be disqualifying yourself from certain privileges. So, check out your loan terms before signing up for a private loan.

Those looking to check mortgage rates

What’s great about Credible is they help start the rate shopping process. Since it’s free to use Credible, there’s absolutely no harm in seeing what your mortgage rates may look like through a variety of lenders. In fact, it takes just a few minutes!

Students who have debt on multiple credit cards

Paying off your credit card debt by condensing it into a single monthly payment is more manageable and more financially sound than paying multiple, high-interest credit card bills each month.

Who is Credible not ideal for?

Credible isn’t the right choice for everyone. Here’s who should not bother with this service:

Students with small amounts of debt

Credible doesn’t have much in the way of eligibility requirements. It leaves that kind of technical detail to the lenders. However, none of the lenders within the Credible network will work with anyone with less than $5,000 of student loan debt.

Pros & cons


  • Best Rate Guarantee — When you get a personal loan with a lender through Credible’s website, Credible wants you to have confidence you’re receiving access to the lowest interest rate in the market.
  • Single application form — Credible makes easy work of the application process by sending a single application out to multiple lenders. You take two minutes to fill out one form and get back several responses.
  • Personal information is not shared — This might be the biggest perk! Credible reserves your private information and only sends it out to the lender that you approve.
  • No fees — Credible is completely free to use. Plus, Credible lenders usually don’t charge origination, service, or early payment fees. And many lenders also offer auto-pay discounts.


  • Limited lending opportunities — Because you are working with a specific marketplace (i.e., Credible), your loan options are limited to the lenders within this network. Credible has a pretty extensive network of lenders, but it’s not every lender. If you prefer having all of the options available to you, this might not be your ideal solution.
  • Lender fees may apply — While Credible itself does not charge for its services, some of the lender partners will. Because of this, you need to be extra careful to pay attention to the fine print on any contract before signing up with a lender.

Credible vs. competitors

Credible is a great choice for comparison shopping, but it’s not the only loan marketplace. Here are a few competitors worth mentioning:

  Credible Fiona Monevo
Loan amount $600-$200,000 $1,000-$250,000 $1,000-$100,000
Repayment terms 1-10 years 6 – 144 months 12 – 144 months

Credible vs Fiona


Fiona is an aggregator that offers free quotes for personal loans with an application that takes less than 60 seconds to complete and does not require a hard credit pull.

  • Fast quote process
  • Reputable companies
  • Free to use
  • Helpful education tools
  • No hard credit pull
  • Limited quote options
  • Not a direct lender
Learn More

Fiona is a loan marketplace, much like Credible, that lets you compare multiple loans from a variety of lenders all from one simple rate chart. Simply answer a few basic questions about the purpose of your loan, how much you’d like, and your estimated credit score, and Fiona will show you a bunch of options.

Fiona wins when it comes to its user experience. It really doesn’t get much faster, plus, you’ll have all of the loan terms outlined for you, including your monthly payments, term length, and APR. And the cherry on top is that Fiona is completely free to use!


Credible won my esteem by providing a fast and simple tool for comparing loan quotes in real-time. If you are looking to take out a private student loan, refinance a current student loan or mortgage, or take out a personal loan, definitely check out Credible. After all, it’s free, so you’ve got nothing to lose and in my mind – everything to gain.

Disclosure: 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.

Your money deserves more than a soundbyte.

Get straightforward advice on managing money well.

Most financial content is either an echo chamber for the "Already Rich" or a torrent of dubious advice designed only to profit its creators. For nearly 20 years, we've been on a mission to help our readers acheive their financial goals with no judgement, no jargon, and no get-rich-quick BS. Join us today.

Aweber pixel