credible review

Credible Review: Compare Personal Loans & Refinance Student Loans Online

Advertiser Disclosure This article/post contains references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on links to those products or services.
Last updated on May 2, 2023

Whether you’re trying to save on interest on a student or a personal loan, it can be a pain to shop around for the best deal. However, thanks to online loan platforms like Credible, you can compare rates with various lenders all one place–it’s free to use.

What is Credible?

Credible is a company that provides a marketplace where you can fill out a single form and help you compare multiple lenders at once. Currently Credible offers assistance with student loan refinancing, personal and private student loans.

You can find competitive rates through major companies like Citizens Bank and College Ave. The company itself doesn’t directly lend you funds. Rather it connects you with lenders–it’s free for you because Credible gets paid by the lender you go with.

Users can fill out an application form with a cosigner (if applicable) on their website. Credible even helps walk you through the entire process.

Applicants need to be:

  • At least 18 years old
  • A U.S. citizen or permanent resident
  • Have at least $5,000 in student loan debt if you’re interested in refinancing a loan

While Credible doesn’t explicitly state minimum credit requirements, you can safely assume that the better your score, the higher your chance of getting prequalified for the best rates. Otherwise, you can apply with a co-signer.

How Credible Works

According to Credible, it can take up to two minutes to find your rate. Here’s how it works.

Get a rate estimate – Fill out a form with personal details such as your financial history, the amount you want to borrow or refinance and education history (if you’re interested in their student loan options). You’ll be prompted to create a Credible account before proceeding.

Compare options – Once you complete the registration process, a dashboard will pop up where you’ll be able to see lenders and rates you may be able to qualify for. You can adjust the filters to narrow down or expand your choices depending on what you’re looking for.

Go through the application process – You’ve done your research and decided on a particular lender, click through to continue with the application. Depending what type of loan you’re refinancing or applying for, you’ll be asked for different documentation such as your existing loan documents and proof of income. The lender will then check your credit to decide whether to offer you a loan. If you accept their terms and rates, the lender will contact you directly to finalize the offer.

Applying for Loans

Credible offers a few different options for borrowers. Here are more details about each one.

Refinancing Student Loans

You may be able to save money by refinancing your loans using Credible–you can take out a new loan with a lower rate that will pay off your existing student loans. There are currently 11 different student loan refinancing lenders on their platform.

Fixed rates for refinancing starting at 5.08% fixed APR (with autopay)* and 4.78% Var. APR (with autopay) See Terms*. However, that doesn’t mean you’ll qualify for those rates–typically those with excellent credit scores or those who apply with a co-signer that has an excellent score may qualify.

Private Student Loans

Credible currently works with 8 private student loan lenders to help you find the best rates for private student loans. Fixed rates starting at 4.44% fixed APR (with autopay)* and 4.99% Var. APR (with autopay), See terms*. Some of the lenders Credible works with include Discover, Sallie Mae and SoFi.

Before applying for student loans, see what you may qualify for with federal loans, as filling out the FAFSA can offer you much-needed financial aid.

Personal Loans

Just like student loans, you can compare and apply for personal loans in the same way with Credible. You may be able to qualify for personal loans up to $50,000 with rates starting at 5.40% APR (with autopay),See Term* and up to 17 lenders to choose from. A personal loan can be a great choice to help you consolidate high-interest debt, like credit cards.

*Read rates and terms at

Pros and Cons

Before using Credible, consider some pros and cons of the platform.


Compare rates faster – It can be frustrating to go from lender to lender to compare rates. That’s why Credible can be useful–you can shop around all on one platform, saving you time.

Less fees – By shopping around, you’ll be able to hopefully save on interest rates and fees when applying for or refinancing your loan.

No impact on your credit score – Credible doesn’t run a hard credit check, meaning that your credit score will not be affected. You’ll only be subject to one once you fill out an application form with a lender.


No more federal benefits if you refinance – Sure, refinancing your loans can help you reduce your interest rate, but many private loans don’t offer the same benefits, like unemployment protection and income-based repayment plans. Check to see whether it’s worth it in your situation before switching over.

Not all lenders are represented – Sure, Credible offers multiple student loan and personal loan lenders on their platform, but there are plenty more out there. That means if you want to shop around and compare rates, you may need to head to more than one website.

Rates may not be 100% accurate – Yes, you’ll be able to see rates when you prequalify, but it’s not representative of your final offer. In other words, it’s merely an estimate based on the information you provide. That means if your credit information or other factors change by the time you submit your application, your rate could be higher than originally anticipated.

Should You Consider Credible?

Credible is a useful platform if you’re interested in comparing private student loans, personal loans and student loan refinancing. All you need to do is to enter in one set of information and you’ll be able to see multiple lenders you can go with. No matter which platform you go with, make sure you shop around for the best rates before signing on the dotted line.

Article comments