Credible Overview: Features, Pricing, and More • Benzinga

Credible, is known for bringing clients like you the necessary simplicity, choice and unbiased support for all of the important financial decisions life can bring you. Keep reading Benzinga’s review of this online platform and its lending partners to get the lowdown on the types of loans it offers as well as its exclusive perks. 

Credible currently has limited involvement with mortgage-related services, but the platform does host a blog where readers/consumers may utilize third-party widgets to uncover a mortgage lender, along with click-outs to HELOC and other similar loan providers.

Loans are an integral component of personal finance that can help you achieve your goals and help you build credit for securing future financial prosperity and opportunity. Keep reading to learn about Credible’s services for finding you the best personal loans, private student loans and student loan refinancing. 

Personal Loans

An unsecured personal loan is funding you can borrow from a bank, credit union or online lender that doesn’t require collateral (like a bank account or a car). The uses for a personal loan are pretty much limitless, as most use them to consolidate credit card debt and help pay for unexpected expenses. You make monthly payments to pay it back in full, plus interest based on a rate that is determined by the lender. Loan terms and interest rates vary based on a lender’s specifications and your personal information such as your credit history. 

Finding personal loans through Credible is simple and quick — it can find your personalized prequalified rates in just a few minutes. It can also match you with lending partners offering you the best loans from $1,000 to $250,000 after tailoring your search to your needs and specifications. Some loans work better than others for debt consolidation, home improvement projects or even your dream wedding. 

A verified customer stated using credible for finding their next personal loan was a fast and easy process that they would recommend to anyone. Another customer praised Credible’s personal loan services, saying, “I am finally able to live my life the way I want to enjoy it. Thank you, Credible, for giving me the power to own my life.”

Private Student Loans

Private student loans through various lenders such as banks, credit unions and online lenders can help you continue to pay for school after you’ve hit your limit on federal loans. Private student loans can have variable or fixed interest rates, which may be higher or lower than rates for federal loans depending on your circumstances. Taking out these loans often requires an established credit history or a cosigner, as lenders heavily take your credit history into account when deciding the amount, loan term and interest rate to offer you. 

Credible is there to match you with several trusted, private student lending partners such as Citizens Bank, Ascent and MEFA to get you the best actual rate possible, not just a ballpark estimate. Credible helps you avoid filling out duplicate forms, making the search and signing process as streamlined as possible. You can finance almost any degree or program through Credible and its flexible payment plans designed to fit your budget. Lastly, Credible makes sure that its lending partners do not charge origination fees or prepayment penalties on their loans.

Steve, a verified Credible customer said “everything was done right on the app and I had the money within 48 hours. Easiest loan process ever.”  Allen, another verified customer said Credible had “amazing service and a very well organized approach to comparing rates and other terms.”

Refinance Student Loans

Refinancing student loans was initially established to help make paying off student debt much more manageable, as repaying such looming debt is a common struggle among young grads trying to secure a healthy financial future. Refinancing is the process of taking out an entirely new loan at a new (and better) interest rate to pay off your old federal and private loans. 

With Credible, you can refinance some or all of your federal loans into 1 private loan, refinance your private loans from banks, credit unions or your school and even refinance your parent PLUS loans. Keep in mind, however, that if you refinance federal student loans into a private loan, you will lose access to federal loan protections like income-based repayment, loan forgiveness and more.

Most impressively, you can compare personalized prequalified student loan refinancing rates from several lending partners without affecting your credit score. All you have to do is fill out a quick form that details information such as your school and type of degree. This should take less than 2 minutes and it gives you access to options from the brand’s top lenders. After that, you can easily compare your prequalified options and real rates in 1 place while using tools to find the best plan for you. With 1 final online form you can finish providing crucial personal details and get your final offer in as quickly as 1 day. 

Cassandra reviewed Credible’s refinancing services and said, “It was very easy to get a range of offers on student loan refinancing. I’m trying to rebuild my credit and after a dozen no’s, Credible got me several offers with reasonable terms! Very happy!”

K.G. said, “Amazing! I wished I went to this site sooner. It led me to the loans with the lowest rates and I was able to pick which one is best for me. Thanks, Credible!”

Credit cards offer you a line of credit that can be used to make purchases, balance transfers or cash advances that you pay back monthly over a set period of time. There are various types of credit cards to choose from, each one helping you benefit in unique ways depending on your situation and current financial goals. 

Rewards credit cards help you maximize the value of your everyday purchases, earning you miles, points and cash back on everyday purchases you make. Balance transfer cards can have a 0% or lower than average APR and a transfer period of 6-18 months, helping you dwindle down debt from other cards and saving you hundreds or even thousands in interest. Student credit cards are designed to help college students establish a solid credit history, an important milestone for securing a strong financial future. Many student cards come with no annual fee and low interest rates.

Credit is a big factor in determining which cards will work the best for you as a borrower, so you can conveniently filter through cards that are available to those that fall into all 4 credit categories. On top of that, you can customize the search to find cards within specific networks such as American Express and Mastercard, and financial institutions like Wells Fargo, Capital One and Bank of America. 

Customer service is a necessity for any business, and it’s especially crucial for online platforms like Credible that actively match clients to the best independent lending partners available. 

Online, Credible has proven itself to put clients first in every service they provide. On every page detailing its specific services, its San Francisco-based Client Success Team’s online and phone contact information is readily visible, along with office hours. Not only is this contact information presented in an accessible way, but each page has subsequent FAQ sections included to educate clients on important qualifications and necessary steps to take before jumping into related products. 

Although these qualities in customer service are great at face value, some customer reviews from trustpilot.com tell of issues such as a lack of or delayed communication from customer service, or on the opposite end of the spectrum, overbearing and unnecessary phone calls regarding the quality of its services. 

Overall, Credible is a high quality and journalistically-acclaimed tool that can help make finding your next loan or credit card a much faster and less stressful process. The platform assists in finding you the loan that fits your needs and goals, Credible is there for its clients with expert safety encryption, a risk-free and fee-free interface and customer service that’s hard to beat. 

Every financial service has its flaws and Credible is no different. From the perspective of its clients, based on real client reviews of the company’s customer service and overall algorithm, Credible has a bit of work to do before achieving a perfect 5/5 rating.

***Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Lowest rate advertised is not available for all loan sizes, types, or purposes, and assumes a very well qualified borrower with an excellent credit profile.