Credible personal loans review
Loans up to $100,000 — but from a limited selection of lenders.
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.
Max. Loan Amount
2.49% to 35.99%
Fair to excellent credit
Min. Credit Score
- One form to view multiple offers
- Best Rate Guarantee
- Low potential APR of 2.49%
- Limited selection of lenders
- May receive multiple marketing calls and emails from lenders
- Some affiliate lenders charge fees to borrow
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Credible is ideal if you want to compare several personalized loan offers at once, and avoid some of the stress of hunting for a good loan. Its network of lenders work with a broad range of credit scores and offer high amounts with competitive rates. It’s also relatively fast — you might receive your funds in one to two business days after approval.
But it can be somewhat limiting because of the small size of its network. And former users have complained of multiple phones calls from lenders after providing their contact information.
Credible rates, fees and terms
Credible doesn’t charge a fee for its service. The lenders in its network fund loans between $1,000 to $100,000, and APR ranges anywhere from 4.99% to a high 35.99%. Terms vary widely, so the cost to borrow will depend on the lender you choose to go with.
You can use the calculator below to estimate your monthly payment to be sure the lenders you’re connected to are affordable for your budget.
Monthly repayments calculator
Calculate how much you could expect to pay each month
|Loan terms (in years)|
How Credible compares to other providers
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 requirements.
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How to qualify
Credible doesn’t list exact requirements on its website, but you will need to 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
Credible reviews and complaints
|BBB customer reviews||2 out of 5 stars, based on 1 customer reviews|
|Trustpilot Score||4.7 out of 5 stars, based on 3,988 customer reviews|
|Customer reviews verified as of||12 October 2020|
Customers are mostly pleased with how easy it was to find great rates using Credible’s service. But some are unhappy with how many phone calls they received after providing their contact information — a common complaint for online marketplaces and connection services.
Case study: Rhys’ experience
Credible really helped save my bacon. I put off doing my taxes to deal with moving and was hit with the unfortunate surprise that I needed to pay $1,500 more than was originally estimated. Given it was less than a week before tax day, I quickly started sorting through my options and came to the decision that a personal loan would be the easiest to deal with.
How it works
To get connected with a personal loan provider through Credible, you have to fill out a short online form and create an account.
After you do this, Credible scans its network of lenders to find any loan you may qualify for. If you’re connected, you’ll be redirected to the lender’s website to finalize your application and learn your approval status. If not, Credible may suggest a partner lender that you could still qualify for.
What sets it apart?
Credible’s simple interface makes it easier than other similar marketplaces to prequalify with multiple lenders at once and make a quick comparison. It’s best for when you’re in a time crunch or otherwise don’t have access to a loan from your bank — which might be less expensive but can take weeks to fund. And if you manage to find a better deal elsewhere, you could qualify for $200 through its best rate guarantee program.
Frequently asked questions
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We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.