Credible Review
Credible is an online loan marketplace founded in 2012 that connects consumers with vetted lenders offering a variety of loan products, including personal loans, student loans, and mortgage refinancing. The platform operates by providing users with a seamless way to compare rates from multiple lenders, ensuring that they can find the most suitable loan options based on their individual financial situations. Credible stands out for its commitment to transparency, allowing users to see prequalified rates without impacting their credit scores.
Credible at a Glance
- Editorial Score: 4.5/5
- Online Experience: 4.8/5
- The website is user-friendly and offers comprehensive resources.
- Loan Types: 4.7/5
- Credible offers personal loans, student loans, mortgage refinancing, and credit card consolidation loans.
- Eligibility: 4.3/5
- Credible is accessible to individuals with varying credit scores, though the best rates are typically offered to those with good or excellent credit.
- Client Support: 4.6/5
- Credible offers support via chat, email, and phone with responsive customer service.
- Repayment Flexibility: 4.5/5
- Loan terms and repayment options vary depending on the lender chosen.
Who is it suitable for?
Credible is ideal for individuals looking for a convenient way to compare loan options from multiple lenders without the need to visit each lender's website individually. It's particularly beneficial for those who want to explore different financial products like personal loans, mortgage refinancing, or student loans and appreciate the ability to get prequalified rates without affecting their credit scores.
Features
Credible offers several key features that enhance the user experience:
- Prequalification without Impacting Credit: Users can see prequalified rates from multiple lenders without a hard credit inquiry.
- Loan Comparison Tools: The platform allows users to compare rates, loan amounts, and repayment terms side by side, making it easier to choose the best option.
- Comprehensive Resource Library: Credible provides educational content on loans, credit, and financial planning, helping users make informed decisions.
Application Process
The application process on Credible is straightforward:
- Enter Your Information: Provide basic details such as the loan amount, purpose, and personal information.
- Compare Offers: After completing the form, Credible will show you prequalified offers from multiple lenders.
- Select and Apply: Choose the best offer and complete the lender's application process.
- Finalize Your Loan: Depending on the lender, you may need to provide additional documentation to finalize the loan.
Loan Types and Terms
Credible offers access to a variety of loan products, including personal loans with terms ranging from 12 to 84 months. Interest rates vary depending on the lender and your credit profile, but you can typically find competitive rates on the platform. Credible also offers tools to help you calculate your potential savings or monthly payments, providing a clearer picture of what to expect.
How Safe Is It?
Credible is a secure platform that uses industry-standard encryption to protect users' personal and financial information. The company has received an A+ rating from the Better Business Bureau (BBB) and boasts positive customer reviews, reflecting its commitment to user safety and satisfaction.
Help & Support
Credible offers robust customer support, with agents available via chat, phone, and email to assist with any questions or concerns. The platform also provides a detailed FAQ section and a blog that covers various financial topics.
Summary
Credible is a highly reputable loan marketplace that simplifies the process of finding the best loan options by providing a transparent, user-friendly platform. Whether you're looking for a personal loan, student loan, or mortgage refinancing, Credible offers a range of options to meet your needs, with the added benefit of prequalification without affecting your credit score.
Physical Address
Credible Labs Inc. P.O. Box 9001 San Francisco, CA 94129