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Credible Loan Review


  • Online application is easy and quick
  • Live chat support
  • wide range of interest rates


  • Cannot opt for E-Consent
  • Limited pool of lenders

Average Rating: 4

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Since Credible’s foundation in San Francisco, in 2012, it has developed a variety of borrowing options to give instant and accurate results to its potential customers — including personal loans, student loans, student loans refinancing, mortgages, and others. Notwithstanding the accreditation of Credible loan BBB reviews, other Credible loan reviews show that the platform Trustpilot also proves this company’s loyalty with an outstanding number of reviews.

Nonetheless, the most remarkable features of many Credible personal loan reviews are the ones that allow its clientele to make comparisons of multiple online offers for their personal loan from top lenders based on their APR, monthly payment, and other options.
Anyway, pay regard to Credible’s offers because they provide preferable options for customers having fair to excellent credit scores.

What Do You Need to Know About Credible Personal Loan?

  • Expected Loan Amount: To get a personal loan, your minimum credit score must be $600, while the maximum loan amount can reach up to $100,000.
  • APR: Concerning Credible personal loan rates, they usually vary from 4.99% up to 35.99%.
  • Monthly Payment: Credible’s personal loan calculator will give you the most accurate amount regarding your monthly payment. However, this forecasting depends on various loan terms.
  • Loan Term: The loan term provided by this company about your personal loan ranges from two to seven years.
  • Fees and Penalties: Compared to other companies that usually charge a prepayment penalty, late payment penalty, and returned payment fee, Credible doesn’t hide any additional fees or charges when taking out a loan. But you may be charged an origination fee starting from 0% to 8% by the lenders on the Credible platform.
  • Types of Interests: There are different types of interests that differ according to your lender and credit report. In fact, with a better credit score, you will be qualified for a much better interest rate. However, good to mention is that Credible loan interest rates are of fixed type. Additionally, when you open up their site the best-rate guarantee pops up right away by offering you $200 as a guarantee that there aren’t better rate options.
  • Unsecured or Secured: Agreeing on a Credible personal loan indicates that it is an unsecured personal loan — without any collateral requirements as your car or home.
  • Automatic Withdraw: Some of Credible’s lenders like Upgrade accept payments via email or over the phone, but only under the condition of automatic withdraw of the monthly payments from the customer’s bank account.
  • Arbitration: The company’s terms of use don’t include arbitration services.
  • Prepayment Penalty: As far as prepayment penalty is concerned, we can proudly say that none of the lenders available on Credible’s platform charge it.
  • Fine Print: A good piece of advice is to keep an eye on the fine print before making your decision since additional fees can be frequently encountered.
  • Personal Loan Features: The set of personal loan features (customer service via phone, mobile app, no origination fee, etc.) depends on different lenders. For example, a considerable number of lenders provide mobile apps for checking your personal loan, while others do not. So, it depends on you what type of lender you will choose.
  • Typical Approval Time: Generally, it is pretty fast, only a few minutes after fulfilling an application form.
  • Typical Funding Time: The funding time may vary according to the sum and the type of lender. For instance, some online lenders might be able to fund you within the next business day, while for some it may take longer. However, the typical funding time usually takes from 1 to 7 business days before your Credible personal loan becomes approved.

What is Credible Personal Loan Eligibility Criteria?

Almost all Credible loan reviews emphasize the personal loan eligibility criteria specifications, although some may vary due to their multiple loan lenders. We must say that Credible’s personal loan eligibility criteria require only US citizens, not under 18 years old. However, the reason you should opt for this type of loan by Credible is — no minimum income threshold for customers with a steady budget, and a minimum credit score.

  • Years of Age: When applying for a loan, age is considered an essential part of the personal loan eligibility criteria suggesting that no one under 18 is eligible to take a loan.
  • Citizenship: About your citizenship, you have to be a US citizen or permanent resident only.
  • Minimum Credit Score: As already mentioned in the introduction of this review, customers having fair to excellent credit scores are most likely to receive a Credible personal loan. Nevertheless, Credible can be a good fit for you if your minimum credit score is at least 640 (depending on multiple personal loan lenders).
  • Income Threshold: The income threshold is usually determined by the lenders since they estimate how much one needs to earn to be qualified for a loan. Due to this, we can’t state the exact amount. In any case, you need to have an unchanging budget to get the loan.
  • Minimum Length of Credit History: Credible doesn’t require a minimum length of credit history upon applying for a loan.
  • Bank Account: Last but not least is that you need to have an active bank account.

How to Apply for a Personal Loan with Credible?

This Credible loan review wouldn’t be complete without its super easy Credible loan application process review that will help you get your work done only in a few steps. You can follow these outlined steps if you need any help while filling out the application form.

  1. Visit their website www.credible.com and click on personal loans under the product section.
  2. Enter the loan amount (from $600 to $100,000).
  3. Click on find my rate and specify the reason you apply for a personal loan. You will see two or three options, which may be the one you are looking for. If not, click on more options to see a wide range of options, which may be the one you are seeking. The oneS named are: pay off credit cards, debt consolidation, home improvement, major purchase, medical expenses, car financing, moving/relocation, business, special occasion, wedding, taxes, home buying, vacation, baby or adoption, green loan, cosmetic procedures, motorcycle, RV, boat, and engagement ring financing.
  4. Next, what’s the highest level of education you’ve completed?; complete it out by selecting one of the following options: high school, associate, bachelor’s, master’s (excluding MBA), or from more options certificate, MBA, dentistry (DDS/DMD), law (JD/JSD), medicine (MD/DO), pharmacy (PharmD), veterinary medicine (DVM/MVD), Ph.D., other graduate degrees, or other.
  5. Enter your employment status: full-time employed, part-time employed, self-employed, retirement benefits, unemployed, military, or other.
  6. Complete the next field by entering your annual income before tax. NOTE: don’t include the income of your spouse or any other family member. Only list YOUR personal income along with your wages, investments, retirement, and rental properties.
  7. Enter your first and last name — this is required so you can get personalized rates.
  8. A couple of questions related to your personal information such as your date of birth, home address, city, state, and zip code.
  9. State your housing details: if you own your home with a mortgage, own it outright, or rent it.
  10. After this field, fill out your monthly housing payment.
  11. Enter your Social Security Number.
  12. Before you accept the terms and conditions, enter your email address, and create a new password.
  13. Since you’ve completed the application form, you will get an email with all personal loan offers you have preapproval.

We have come to the end of the Credible loan application process review. Probably you are surprised by how quick and easy it is. So, we have to say that by finishing this online process, you are supposed to get an email that will link you with many loan institutions in just a couple of seconds. Therefore, encounter the Credible loan lender’s credibility requirements from the personal loan providers, which are the following: Avant, Payoff, Best Egg, and their loan offers.

Pros and Cons

Pros Cons
Online Application Form
  • Uncomplicated
  • Quick
  • Unable to use their service if you opt-out of receiving E-Consent 
Customer Service Availability
  • Call, email, or live chat support
Rich Network of Loan Providers
  • Limited pool of lenders
Competitive Interest Rates
  • Wide range of interest rates and loan terms
Educational Resources
  • Owing to many online educational resources

Credible Alternatives

In many Credible loan reviews, you will find different options in terms of its lenders, but not as many as you expect. But don’t let the limited pool of lenders provided by Credible discourage you. For instance, we offer you Loans Under 36, Monevo, and 5K Funds, which have a pretty rich network of lenders. They involve online direct lenders, peer-to-peer lenders, and banks.

Privacy and Security Policy

This industry-standard security provides full information protection — provided by 256-bit encryption and SSL technology. This means that nobody can have an access to your information excluding the parties you agree to share your information with.
After reading dozens of Credible personal loan reviews, we have noticed that a significant number of customers expressed dissatisfaction because they were contacted by other loan institutions once they’ve submitted the application form.

Wrap Up

Numerous Credible loan customer reviews agree that this platform contains the most suitable offers for customers having an excellent credit score. As a result, a Credible personal loan for bad credit is very likely to be unapproved.
Besides, this platform offers refinancing options and college loans as well. Therefore, the highest number of Credible loan refinancing reviews and Credible student loan reviews are found as undeniably optimistic and educational since the lenders allow options for lower interest rates and flexible repayments.
Plus, Credible gives a best-rate-guarantee of $200 gift card as proof that its customers won’t find better rates elsewhere.


  1. Can I Refinance My Personal Loan?

Yes, you can. Many individuals claim that the main reason for their usage of this platform is because of Credible loan direct reviews.

2. What Can I Use Credible Personal Loan for?

You are free to use your Credible personal loan for many different reasons as the one before mentioned in the application process review (number 3). That was the section where you state your reason for applying for a specific type of loan.

3. Can I Get a Personal Loan Online?

This is probably the most wanted choice of many customers who want to buy themselves some time by filling out an online application form. Once they open up the Credible platform and opt for a specific loan they will be matched with miscellaneous offers instantly.

4. Who Are Credible’s Personal Loans Best For?

As stated in the introduction of this review, Credible’s personal loans are best for people who have fair to excellent credit scores. Additionally, if you are short of time and want to finish the application process quickly you should go for Credible.

5. What Is Credible BBB Rating? Is It Accredited?

Credible loan BBB reviews indicate accredited +A rating.