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Personal Loans » Personal Loan Lender Reviews » Credible Personal Loan: 2024 Review

Credible Personal Loan: 2024 Review

Credible was designed to make finding a personal loan within your preferences much simpler. This marketplace takes your information and finds you suitable matches.
Author: Lorraine Smithills
Interest Rates Last Update: November 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Lorraine Smithills
Interest Rates Last Update: November 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

Credible was designed to make finding a personal loan within your preferences much simpler. This lender marketplace takes your information and finds you suitable matches.

APR

6.99% - 35.99%

Loan Amount

$600 – $200,000

Term

12-84 months

Min score

Varies based on lender

Credible was designed to make finding a personal loan within your preferences much simpler. This lender marketplace takes your information and finds you suitable matches.

APR

6.99% - 35.99%

Loan Amount

$600 – $200,000

Term

12-84 months

Min score

Varies based on lender

Credible is a personal loan marketplace. They have a few different lending options and a variety of other personal loans that range from standard personal loans to home improvements to debt consolidation. 

Credible will have you walk through a process with them to get pre-qualified through their marketplace. They offer the best rate guarantee that if they can’t find you the best personal loan rate, Credible will give you a $200 gift card (see terms). 

  • Best Rate Guaranteed
  • Rate Comparison Tool
  • Choose Your Flavor
  • Top-Notch Service
  • Information on Repeat
  • Unexpected Fees
  • Fewer Choices

How many lenders are available via Credible?

Credible is a lending platform that can connect you to personal loan offers. When you submit an application, you can access loan deals from up to 17 lenders who partner with the platform.

While Credible does not have a full list of its partners on the website, it does have a large network that has helped over 55,000 people save money on a loan in 2021 alone.

Can I get a Credible loan with a 600 credit score?

Since Credible is acting as an intermediary, they should still be able to connect you with lenders that offer loans for those with fair credit.

Once your 600 credit score is established, Credible will only show you lenders and loan deals that you will qualify for. This means that you won’t waste your time looking at lenders who only offer loans to those with excellent credit.

Can I negotiate with Credible?

This is unlikely since Credible is simply connecting you with lenders who have loan deals that match your financial profile.

It may be possible to negotiate a settlement figure once you have your loan and decide that you want to repay it, but this will depend on the specific lender that you go with. Some lenders are more open to negotiations compared to others.

Can I pay off a Credible loan early?

This will depend entirely on the lender that you go with. Credible will present you with up to 12 loan deals when you submit your inquiry.

So, if there is a possibility that you may want to repay your loan early, be sure to check the terms and conditions of each deal to ensure that there are no unreasonable prepayment penalties.

Does Credible offer more financial products besides personal loans?

Credible is a lending platform, so all its financial products are in this niche. In addition to personal loans, you can access student loans, student loan refinancing, home loans, mortgage refinancing, and credit cards.

You can submit an inquiry in any of these areas and Credible will connect you with partners who could offer you the best deal.

Do Credible personal loans offer prequalification? (soft credit check)

Credible does offer a platform to compare loan deals and check what rates you may be eligible for. This prequalification process only uses a soft credit check, so you don’t need to worry about impacting your credit score.

You will only trigger a hard credit check if you decide to proceed with a specific loan deal.

In this Review..

How Does Credible Work?

With Credible, you start by entering the amount you are looking for and then find a rate for you. It takes only a couple of minutes to get results. When you select a personal loan, they ask you for an amount and say, “find my rate.” 

Once you get through their simple questionnaire process, you will get results of pre-qualified rates. You can shop your rate options and compare lender options produced for you. They have a client success team on standby in case you need any help in the process. 

Credible will not be your lender, they just provide a tool to find the right lender. They have a number of lending partners they can match you with and the criteria is pretty open as far as credit history and debt-to-income data. 

To use Credible or apply for a loan, you are required to be a U.S. citizen or permanent resident and you must be at least 18 years of age as well. The better your credit, the better offer you will get, which is typical. 

Once you choose a lender and apply, you may be required to provide additional information to the lender you work with, such as ID or paystubs. 

Credible Loan Pros & Cons

As we know, each lender has its own pros & cons  – here are the relevant things we found for potential borrowers:

Credible clearly promotes that they offer the best rates and claim that if they can’t find you the best personal loan, they will pay you $200.

It might be worth it to look around and see if you can prove them wrong, just remember you might need proof of that rate and they will have terms and conditions.

When you get your lender options, the rates are accurate prequalified rates. This gives you the ability to shop with confidence. They use a soft check on your credit to get you prequalified rate options in the comparison so it is as accurate as possible even when you are just looking.

The nice thing about this marketplace is the ability to shop and compare and determine which lender or loan you want to pursue. It gives you a variety of options and allows you to really compare them and pick which one will be right for you.

Credible has some of the best customer service available for this type of marketplace. They have a customer care team that is readily available and will go above and beyond to help you out.

You will answer questions for Credible and then when you choose a lender you will have to answer all of those questions all over again. It can be a little frustrating to feel like you are repeating the process.

Many times, you may find yourself paired with a lender only to find that there are substantial fees in place.

Credible doesn’t charge you for their service but it is possible the lender will. Your final rate might also be higher than your prequalified rate for a number of reasons.

Credible may help you get a reasonable rate, even if you're looking for a loan for a fair credit score.

If you compare Credible to LendingTree, their network is slightly limited. The lenders they partner with could be limited, which means you might not see everything truly available to you

What Can a Credible Personal Loan Be Used For?

Since this is a marketplace for choosing a lender, there will be a variety of interest rates returned. Credible advises that rates are 6.99% – 35.99%  but they don’t give you a ceiling for how exactly it will be, since it varies between companies and depends on your score. Limits can vary on amounts and so can potential fees and allowance for early payments and more. 

Credible is accredited through the Better Business Bureau and has been since 10/27/15. BBB rates them as an A+ but customer reviews leaves them at 1/5 stars. On Truspilot, they are rated 4.7/5 stars, with an excellent rating. There are a good number of reviews available there as well.  

Credible Reputation

  • A+ on BBB: BBB assigns ratings from A+ (highest) to F (lowest). BB ratings are based on information in BBB files with respect to factors such as the business's complaint history with BBB, type of business, time in business, transparent business practices, and more.
  • 4.7/5 on Trustpilot ( +4300 reviews): TrustScore is also an overall measurement of reviewer satisfaction, represented numerically from 1 to 5.
  •  J.D Power: We considered J.D. Power’s lending consumers satisfaction study. .J.D Power offers the most comprehensive and independent study of personal loans consumer satisfaction  . The study aims to help consumers and issuers to understand user opinions and ratings of top lenders. It covers terms, benefits, services, communication, transparency and more. Credible wasn't rated in the 2020 research.
Top Offers

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership

hilton honors card

Rewards Plan:
3X – 7X 7X Hilton Honors Bonus Points for each dollar of eligible purchases charged directly with hotels and resorts within the Hilton portfolio, 5x points at U.S. restaurants (including takeout and delivery) U.S.supermarkets, U.S. gas stations and 3x points for each dollar on other eligible purchases
Welcome Bonus:
100,000 points 100,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership

Marriot bonvoy bevy card art

Rewards Plan:
2x – 6x 6X points on purchases at hotels participating in Marriott Bonvoy, 4X points at restaurants worldwide (including takeout and delivery in the U.S.) and U.S. supermarkets (up to $15,000 in combined purchases per year, then 2X points), 2X points on all other purchases
Welcome Bonus:
85,000 points Earn 85,000 Marriott Bonvoy bonus points after you use your new card to make $5,000 in purchases within the first six months of card membership.
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership

hilton honors card

Rewards Plan:
3X – 7X 7X Hilton Honors Bonus Points for each dollar of eligible purchases charged directly with hotels and resorts within the Hilton portfolio, 5x points at U.S. restaurants (including takeout and delivery) U.S.supermarkets, U.S. gas stations and 3x points for each dollar on other eligible purchases
Welcome Bonus:
100,000 points 100,000 Hilton Honors Bonus Points after you spend $2,000 in purchases on the Card in the first 6 months of Card Membership

Marriot bonvoy bevy card art

Rewards Plan:
2x – 6x 6X points on purchases at hotels participating in Marriott Bonvoy, 4X points at restaurants worldwide (including takeout and delivery in the U.S.) and U.S. supermarkets (up to $15,000 in combined purchases per year, then 2X points), 2X points on all other purchases
Welcome Bonus:
85,000 points Earn 85,000 Marriott Bonvoy bonus points after you use your new card to make $5,000 in purchases within the first six months of card membership.
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

How to Get Rates on Credible Website?

Start by entering an amount for the loan you are requesting. 

Credible Personal Loan

Let Credible know why it is you need a personal loan. They have several options. 

Credible Personal Loan

From here, you will share personal information. Interestingly, the first question is about your level of education. After that, they look for annual income and personal identifying information step-by-step. 

Credible Personal Loan

When you complete their questionnaire to the end, they will then return match results to pair you with lenders that meet your details and show specific rates. The return process typically takes less than 2 minutes. 

  • Screenshots for illustration purposes 

FAQ

Credible has a lot to offer in terms of variety and solutions. Their customer service is one of the better providers out there for this type of service.

While Credible cannot necessarily provide a solution for everyone, they do appear to be a valuable resource that is worth checking out if you need a personal loan, in addition to other marketplaces such as LendingTree or Fiona.

Credible has an excellent reputation, with an impressive 4.7 out of 5 rating on Trustpilot, and lots of positive reviews. Additionally Credible takes customer security and privacy very seriously.

Although Credible does not receive money from its customers, it does process sensitive personal information including your contact information and Social Security number. However, the site does use industry-standard encryption to ensure your privacy is protected.

The site also automatically logs you out of your account after a period of inactivity. Your application is auto-saved, so you don’t lose your progress, but it minimizes the risk of unauthorized access.

In order to provide personalized pre-qualified loan product rates, Credible or its lending partners may perform a soft credit inquiry, but this will not affect your credit score. If you choose a loan deal and want to move forward, the lender will then perform a hard credit search.

One of the advantages of using Credible and other websites is that you can compare prequalified rates through multiple lenders without affecting your credit score.

Both Monevo and Credible offer access to loans up to $100,000. However, while Monevo focuses on personal loans, Credible also helps with student loan refinancing, home loans, and mortgage refinancing. If you're looking for one of these types of financing, Credible may be a better option, as you could potentially secure a better rate compared to a standard personal loan.

Like AmONE, Credible has a decent reputation, especially on Trustpilot. However, while AmONE has a focus on personal loans, business loans, and debt consolidation, Credible offers access to student loans and student loan refinancing, home loans, and mortgages. This may mean that it is not as flexible for you if you have a start-up in need of finance.

Both AmONE and Credible offer loan options for various credit ratings. However, AmONE stands out by advertising that you can receive funds as quickly as 24 hours after approval. On the other hand, Credible offers lower APRs for those with good credit and provides loans up to $100,000, compared to AmONE's $50,000 limit.

Credible has a solid reputation, particularly on Trustpilot which is more positive than the 5K Funds reviews. This company also offers different types of loans and finance, rather than just the personal loans on offer with 5K Funds. You can source personal loans, student loans, student loan refinancing, home loans, and mortgages, which makes it more flexible than 5K.

Both platforms use bank-level encryption to protect your data and like 5K Funds, in most cases, Credible will not perform a hard credit check to allow you to compare loan deals.

Alternative Personal Loans Lenders

sofi logo
Rocket Loans
citi logo
APR Range The annual percentage rate (APR) is the total annual cost of borrowing money. This rate includes the interest rate as well as any additional finance charges. When you take out a personal loan, for example, you may be required to pay loan origination fees.
8.99% – 29.99%
9.11% – 29.99%
10.49% – 19.49% APR
Term The term of your loan is the amount of time you have to repay it. For example, if you get a 24 months personal loan, the loan term is 24 months.
24-84 months
36-60 months
12-60 months
Loan Amount
$5,000 – $100,000
$2,000 -$45,000
$2,000 – $30,000
Minimum Score
680
640
680
Funding Time
Up to 7 days
As soon as same day
Up to 5 days

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Picture of Lorraine Smithills

Lorraine Smithills

Lorraine is a freelance finance writer with years of experience in the banking sector and after a successful career in one of the largest retail and commercial financial services providers. She has a passion for helping people with less financial confidence to get control of their money through budgeting, saving, and responsible credit practices.