Credible Review

Credible ID Card

Loan TypeFixed rate unsecured personal loans
Loan Amount$1,000 to $50,000
Repayment TermsTwo to five years
Top ProFast and free responses
Top ConDoesn’t work with credit unions or refinancing companies
Best ForPeople with good credit scores looking to consolidate their debt

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Credible at a Glance

​Credible is an online loans broker that provides fast and free initial responses, ideal for anyone who needs a loan and doesn’t know where to start. It speeds up the process of hunting for a suitable personal loan by sending your application to multiple providers at the same time and running a soft credit check (which doesn’t affect your credit rating). Credible returns up to six preliminary loan offers so that you can easily compare your options and then contact the lender directly to complete the loan process.

Best for Whom?

Someone with good credit scores who wants to consolidate their debt.

Credible requires a credit score of around 680 and up to qualify for their service, but the lowest APR rate of 4.99% makes it a potentially cost-effective way to consolidate all debt payments into one.

Loan Features​

Credible’s biggest draw is the speed of response. Completing multiple application forms asking for the same information, again and again, is draining and time-consuming, so being able to get responses in minutes from a number of lenders with just one application is a big plus. 

Unlike many loan broker services, Credible is transparent about their fees, which are zero. There are no sudden stings at the end of the process. Although it brings a range of APR rates from different lenders, the lowest rate of 4.99% is competitive and attractive.

You can use Credible to check up on loan offers for different amounts without harming your credit rating, which is useful for borrowers who aren’t yet sure how much they will need. With loan amounts ranging from $1,000 to $50,000, you can get useful loan offers whether you need to redo your home or just bridge a small gap till your next paycheck.

Highlights for Credible:

  • Fast response time
  • No fees for the service
  • Access to multiple lenders at once
  • Side by side comparison guide
  • Faster path to getting the loan; some lenders can process your request within one business day

The Application Process​

Credible’s online application process is streamlined and straightforward. You’ll begin by creating a password-protected account with Credible. Choose the personal loans option from the drop-down list and complete a two-page online application. Credible asks about your education history and employment status, annual income, and credit score. You'll have to provide personal identifying information that includes your social security number, date of birth, and address and share how much you want to borrow and why.

After receiving this information, Credible will carry out a short ‘soft credit’ check to verify your credit rating and identification details. These checks don’t affect your credit standing at all. Your credit result and application is then sent on to a number of loan companies.

Within a few minutes, Credible returns up to six pre-qualification loan offers. You can compare their vital features such as the APR rate, repayment terms, and requirements at a glance in a clear table, or click through to the website to get more details. Once you find a loan offer that suits you, visit the provider’s website to see if you like their terms and conditions. You’ll finish off the application process on the provider’s website.

Credible requirements:

  • Good to excellent credit score of 680 and over
  • Citizenship or permanent residency of the United States
  • A checking account in your name
  • You must be over 18 years old

Loan Terms​

As a loan broker, Credible doesn’t extend specific loan terms. The lowest APR rate for personal loans via Credible is 4.99%, but it can go up to 36%. Loan amounts stretch from $1,000 to $50,000, making it a very flexible site for borrowers who aren’t yet sure what they need.

Consumers should remember that terms can fluctuate even after you receive a pre-qualification offer. No loan terms are guaranteed until the lender has performed a hard credit check and confirmed that your application is accepted, so if you get a good loan offer you should act to secure it quickly.

Repayment Terms

Again, repayment terms vary from lender to lender. The maximum repayment term via Credible is five years, with some terms as low as 24 months. This is a relatively short repayment term, which could be a problem for borrowers who want to spread their payments out further so as to pay less each month.

How Safe is It?

​Credible has a reputation for being trustworthy with your personal details, but they don’t bear any responsibility for the loan companies that might make you an offer. It’s up to the borrower to check out the prospective lending company thoroughly to make sure that they feel comfortable with their policies and approach.

Help & Support

Credible’s website is clear and easy to move through, with an FAQ section that is simple to find. Their FAQs do not cover all the information you might like to know, such as what the requirements are for application, but they are well organized.

We were pleased with their level of customer service; emails are replied to promptly and comprehensively, and they are careful about staying in touch to answer your questions. Credible has a fast telephone customer service team as well as online live chat.

Deep Dive into Pros and Cons

No feesHigh credit score
Get responses in minutesDoesn’t work with credit unions or refinancing companies
Does not affect your credit ratingShort maximum repayment terms
Brings responses from multiple lenders at one timeOngoing mail bombardment from the lenders who now have your details


When checking out Credible we found many advantages to using their service, but there were still some areas that let them down. The main issues we found were:

  • When Credible sends your application form for pre-qualification, they also share all your contact details with the lending companies. Customers have been overwhelmed with promotions and special offers from various loan agents, sometimes continuing for years after their original inquiry.
  • Credible does save time by giving you access to a number of loan companies with just one application, but they only return up to six options. Credible does not bring replies from credit unions or refinancing companies, which often have the best terms for customers. Although Credible’s best rate is 4.99% APR, some lenders charge up to 36%, so read the small print carefully and do check out loan companies outside of Credible.
  • Short loan terms of a maximum of five years (60 months) can be limiting. Although a longer-term results in paying more interest overall, it also lowers your monthly repayment amounts.

Nonetheless, Credible is an effective loans aggregator, with these particular benefits:

  • Fast responses from a number of different loan companies saves you time, both because you don't need to repeatedly send the same details and because they respond in minutes. Once you see the preliminary responses, you can pursue their application process without worrying that it will be unsuitable for your needs.
  • No fees. Credible doesn’t charge you anything at all while saving your time. There are no hidden charges or unexpected costs involved.
  • Your credit rating isn’t at all affected by Credible’s soft credit check. Knowing which companies are likely to approve your loan request means that you can save your credit score from too much impact by only applying to one company and thus only having one full ‘hard credit’ check.


Credible is a fast and free online loan brokerage service which returns multiple pre-qualification personal loan offers for borrowers. Appreciated by many consumers for its swift response time and clear comparison tables, Credible is a useful tool for anyone with a high credit rating and a need to consolidate debt, finance a major purchase, or open a business. If you don't have good credit rating, you’ll need to look elsewhere.

Physical Address

101 Green Street Level 2

San Francisco, CA


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