Credible personal loans review
Loans up to $100,000 — but from a limited selection of lenders.
finder.com’s rating: 4.34 / 5.0
- Best for comparing multiple lenders at once that offer low rates.
- Pick something else if you don’t want to receive phone calls from multiple lenders.
Max. Loan Amount
4.99% to 35.99%
Fair to excellent credit
Min. Credit Score
Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.
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.
What does Credible cost?
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 calculatorCalculate how much you could expect to pay each month
|Loan terms (in years)|
How it works
Credible will connect you with lenders that may be able to fund your loan. The APR you receive, as well as the amount you are able to borrow, will depend on your finances and credit. The better your credit score, the more likely you are to receive a low rate. And if you receive a lower APR within eight days of using Credible to find a lender — and you choose to go with that loan — Credible will give you $200 to back up its Low Rate Guarantee.
What do I need 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
What information do I need to sign up?
Be prepared to provide the following information when filling out the online form:
- Employment status
- Date of birth
- Annual income before taxes
- Estimated credit score
- Social Security number
- Monthly housing payment
- One form to view multiple offers
- Best Rate Guarantee
- Low potential APR of 4.99%
- Limited selection of lenders
- May receive multiple marketing calls and emails from lenders
- Some affiliate lenders charge fees to borrow
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.
To avoid taking even more time checking if I prequalified for a personal loan one lender at a time, I used Credible. It’s how I found a loan in the right amount, at a rate I could manage and with a lender that doesn’t charge early payoff fees. I applied for the loan the same night, was approved and saw the funds hit my account two days later.
See other personal loan options
Is Credible legit?
Yes, Credible is a legit connection service with a secure website to keep your information safe from havers. Its about page provides details on the heads of the company, and it has multiple pages that cover its security process, collection of information and terms.
Like all connection services, the information you provide to Credible will be used to find one or more lenders that may be able to fund your loan — which will result in marketing materials. However, you can limit sharing and opt out of promotions by clicking the unsubscribe link in any emails or by contacting email@example.com.
Does Credible get good customer reviews?
|BBB customer reviews||1 out of 5 stars, based on 2 customer reviews|
|Trustpilot score||4.7 out of 5 stars, based on 3,671 customer reviews|
|Customer reviews verified as of||28 May 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.
How do I get started?
To get started, follow these five short steps:
- Click Check my rate to be redirected to Credible’s online form.
- Click Find my rate on Credible’s form to get started.
- Enter the amount you want to borrow and select the general purpose of your loan.
- Enter information about yourself, such as your employment status, annual income and Social Security number.
- Create an account and review Credible’s terms and conditions to review your options.
What happens after I fill out its online form?
Credible will scan its network of lenders to find any loan you may qualify for. If you’re connected, you will 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.
How do repayments work with Credible?
Because Credible is a connection service, your payment options will depend on the lender you’re connected with. Check its website and reach out to customer service if you’re having trouble getting things started.
Frequently asked questions
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