Credible Personal Loan Review (2021)

By Sa El

Credit expert, licensed Insurance agent, Real Estate agent, and Co-Founder of Credit Knocks

Advertiser Disclaimer - Some links on this page may pay us advertising fees.

Summary: Credible is a great option if you are looking for a personal loan of up to $100,000 in just 2 minutes. They even offer a best rate guarantee.

Credible Personal Loan Review

Credible has been around since 2012 and offers a wide variety of loan products from student refinance loans to personal loans.  They don't charge a fee to use their service and they math you with multiple lenders.

Quick & Easy To Apply With Instant Pre-Approvals


Compare Multiple Lenders At Once


Credible Is A Free Service. 


Pre-Approval in less than  2 minutes


Respond pretty quickly

    Credit Knocks Overall Star Rating:     

  • One Form, Multiple Lenders
  • Super Fast Funding
  • No-Cost Service
  • Best Rate Guarantee
  • A+ BBB Rating
  • Smaller Lender Network
  • Limited Loan Terms
  • Not For Limited / Poor Credit
  • Possible 3rd Party Lender Fees


Credible provides a platform that lets you compare personal loan options from multiple lenders (that have been vetted) that you qualify for, side-by-side.

However, they do have a much smaller lender network than most loan connection services and there could be some 3rd party lender fees. 

I created this Credible Personal Loan Review so that you can understand how their personal loans work, their benefits and short comings.  

Who Is Credible?

Credible was started back in 2012 and is one of the leading marketplaces for comparing pre-qualified personal loan offers.

credible logo

They offer multiple loan offers with filling out only one application and are located in San Francisco.

What Makes Them Different? review stands out with its Best Rate Guarantee; essentially, they will pay you $200 if you find a better rate and close on your loan through someone else. 

We talk more about the Best Rate Guarantee below.

How Does Credible Work

Credible loans is one of the easiest platforms to use and it only takes about 2 minutes to find your rate.


1. Find Your Rate

The first thing you do is click "Find My Rate" and fill out the short form. It takes about 2 minutes to enter your information.

You need to provide information about your education and finances, as well as the amount of the personal loan you are looking to apply for.

And guess what: 

Credible doesn’t check your credit score to get you Pre-Approved, they only do a soft credit check.

This means you get to see what rates you can qualify for without the worry of it affecting your credit. 

2. Compare Your Options

Once you put your information in and submit the form you will be taken to a dashboard. 

This dashboard will have multiple pre-approval offers from different lenders.

Keep in mind, these are Pre-Approvals and your actual approval is not guaranteed; however, you will get to see your actual pre-qualified rates.

The rates you see are usually very accurate as long as you can verify your information and nothing changes on your credit report. 

Once you confirm and verify everything the rates are pretty solid.  The best thing is that you get to see your options up-front and know exactly which option is best for you.


3. Apply For Your Personal Loan

Once you pick a lender, it's time for you to apply. During the application process, you'll get asked more in-depth questions about your use of the loan, your financial history, and the lender will run a credit check. *Note: This all happens on the Credible website. 

Once this step is done the lender will work with you directly to finalize all of the loan details.

Credible Loan Eligibility

In order to be eligible for Credible loans you must meet the below requirements:

  • Have good to excellent credit (680+ on average)
  • Have a checking account in your name
  • Be a U.S. Citizen or Permanent Resident
  • You are at least 18 years old

What Information Will You Need To Apply?

Before filling out the online form make sure you have the below information ready:

  • Date of birth.
  • Estimated credit score.
  • Annual income (before taxes).
  • How much you want to borrow.
  • Your Current employment status.
  • What you plan to use the money for.
  • Your highest level of completed education.

Credible Personal Loan Review (Basics)

Since lets you see offers from multiple lenders, we wanted to show you the absolute minimum and maximums you can be offered. Actual rates and terms will change by lender.

  • Loan Amount Range: $1,000 - $100,000
  • APR Range: 4.99% - 35.99%
  • Fees: Origination, Late Payment, and NSF fees all vary by the lender.
  • Prepayment Penalties: None
  • Loan Terms: 2 to 5 years
  • Payments Directly To Creditors: Varies by lender.
Caution Credit Knocks

Remember, once you pick a lender, they will pull your credit report and create a hard pull on your credit.

Credible Best Rate Guarantee

Credible will pay you $200 if you find a better rate on your personal loan from another company and close on that loan.

However, they do have some rules to follow before they can pay out on your claim which is: 

  • Only personal loan offers are eligible for this Best Rate Guarantee
  • The Better Rate must be received within 8 days after receiving prequalified rates on Credible loans;
  • The Better Rate must be from a lender that does not offer prequalified options on the Credible Website; 
  • The Better Rate claim must be submitted to within 10 days after receiving prequalified rates on the Credible Website;
  • The Better Rate must be for an offer of credit that is based on the same information submitted on the Credible Website and for a Similar Loan Offer; and
  • Close the loan that is the subject of the Claim (and not later cancel the loan) within thirty (30) days of the prequalification request made on the Credible Website; and
  • After closing with the lender that offered you the Better Rate, you will have 7 days to submit to proof of closing and funding of the loan.

I think these are very reasonable steps and guess what, if you go through them and claim your $200.00 you already have a nice down-payment to put towards your loan.

You can reach out to their dedicated Best Rate Guarantee support team at [email protected]  with any additional questions.


Credible Personal Loan Calculator

Use the Credible Personal Loan Calculator to help determine the payment amounts based on interest, length of personal loan and amount borrowed. 

The interest rate will be determined primarily by your credit score and your ability to repay the Credible personal loan. 

This calculator lets you adjust the different loan variables to give you a good understanding of how each affects your monthly payment. 

As you increase the length of the loan the monthly payments decrease.

If you are able to find a personal loan with a lower interest rate that will decrease your monthly payment amounts, also. 

credible personal loan calculator

What To Use Credible Personal Loans For?

There are several reasons you may need a personal loan and below we list out some of the reasons you may need this personal loan:

  • Debt/Credit Card Consolidation
  • Down Payment For Home  
  • Major Purchase    
  • Home Improvement   
  • Medical Expenses   
  • Moving/Relocation    
  • Vacation
  • Start Business    
  • Education    
  • Your Wedding

As you can see, there is a huge list of reasons for getting a personal loan.

Of course our favorite reasons is for Debt Consolidation, Education, and Starting a Business.

Credible Personal Loan Reviews

It feels great getting approved for something, no matter what it is, you feel like you have just won something.

But, now that you have been approved, there are some things you should be doing with your accounts.


Customers reviews rave about the ease of Credible personal loans process and their quick funding speed. reviews receive high marks for their customer services above and beyond attitude. 

The most common positive customer review was that Credible is a great place to check your personal loan options to get the best personal loan rates possible. 


Credible Better Business Bureau Reviews 

Credible BBB has had a file at the Better Business Bureau since 2012 and was accredited in 2015. reviews have an A+ BBB rating with 4 complaints in the past three years (as of 10/15/2019).  


I find it incredible and a testament to Credible's customer service team that a company of their size only has four BBB complaints. 

Credible BBB reviews and customer complaints are taken seriously by the company as most receive a response which is why they have an A+ BBB rating.

Credible BBB customer reviews thank them for their helpfulness and ease of use.  


Steps To Take After Credible Loan Approval

It feels great getting approved for something, no matter what it is, you feel like you have just won something.

But, now that you have been approved, there are some things you should be doing with your accounts.

Make On Time Payments

I am sure you are tired of seeing everyone saying "on-time payments".

Helpful Tip

If your application goes to "Pending" status it doesn't mean Declined. Usually, more information may be needed.

But it is super important and is one of the largest factors in helping grow your credit score.

Of course you probably didn't obtain this loan for building your credit.

However, you still need to be mindful that this product can harm your credit if you don't manage it correctly.

No matter what, avoid late payments.

Credible Personal Loan Review

Pay Back The Loan ASAP

Along with making on-time payments you should definitely pay this loan off as super fast as possible.

Large personal loans tend to linger and we usually only pay the minimums. 


While this does keep more cash in your pocekt in the initial phase, eventually you end up spending thousands of more dollars in interest payments.

Getting the credit utilization below 30% will also be great for helping your credit score grow. 

Taking Action & Getting A Loan

Hopefully, you found this Credible Personal Loan Review to be helpful because Personal Loans are a great option to pay down debt, or even start a business. 

If you need a personal loan then don't waste any time getting your loan through Credible's lender network.

You can click the link above or below to complete your application process and get a loan in under 2 minutes.

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

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