Credible

Credible is a San Francisco-based financial technology company that helps borrowers compare and apply for loans online. Founded in 2012, they've helped over 3.4 million people compare and apply for loans.

The company doesn't lend money itself; it is a loan marketplace that connects borrowers with a variety of lenders. Credible integrates with lenders and credit bureaus, allowing it to provide pre-qualified rates based on an individual's credit history.

Program Variety

Personal loans are available between $600 and $200,000, depending on the lending company and the client's creditworthiness. Personal loan repayment terms are typically from one to seven years.

Products Available

Credible's marketplace allows users to compare rates for the following products:

Loans and Refinance

• Debt consolidation loans
• Personal loans
• Student loans (federal and private)
• Student loan refinancing
• Home improvement loans
• Mortgage loans
• Mortgage loan refinancing

Insurance

• Home insurance
• Car insurance

Credible's marketplace also offers credit card options.

Program Costs

Credible doesn't charge clients directly for its services. Credible receives fees/comissions from lender and carrier partners.

Personal loans offered on the Credible marketplace range from 7.49% to 35.99% APR. Credible doesn't charge an origination fee on personal loans, but some lenders offered through the platform do. The origination fee varies, but averages between 1% and 8% of the full loan amount.

Mortgage refinancing closing costs and other fees vary by state and lender, but generally total 2% to 6% of the mortgage.

Because Credible's marketplace offers such a large variety of products, many have associated costs listed once you complete prequalification.

Industry Reputation

Fox Corporation purchased a majority stake in Credible Labs Inc. in 2019. In 2021, Credible acquired digital insurance platform Young Alfred. This acquisition allowed Credible to add insurance offerings to its marketplace.

Benefits

• Credible says they do not sell users' information, and won't contact you unless you choose to move forward with a lender and loan product.
• Pre-qualify with a soft credit check that doesn't affect your credit score.
• Check your rates with multiple different co-signers to see which will help you prequalify with the best rates

Complaints

Credible is accredited by the Better Business Bureau with an A+ rating, though their profile shows a small number of reviews (14) with a 1.29/5 rating.

Credible has a 4.7/5 rating on Trustpilot, with over 6,800 reviews. Credible's page on ConsumerAffairs shows a 3.7/5 rating from nearly 500 reviews.

State Coverage

Personal, student, and mortgage loan availability can vary by state, depending on the lender.

Credible Insurance is licensed to sell insurance in all 50 U.S. states and Washington, D.C.