Credible was founded in the San Franciso area in 2011. The company has an A+ rating with the BBB and 9.5/10 rating with Trustpilot. Credible has developed an unsecured personal loan comparison platform that sends one application to eight lenders and you will know within seconds if you are approved. LightStream, Prosper, SoFi, Payoff, and Upgrade receive the borrower's loan request and can bid on this business at the same time.

The borrower could receive up to 11 loan offers in minutes and decide which loan suits their requirements.

Where Credible Shines

  1. Your credit score will be not affected when you apply
  2. Borrowers do not have to fill out multiple applications to find the best loan option

Average Credit score of Applicants as of June 20, 2018

  1. 10% of applicants with a credit score below 640 receive loans.
  2. 43% of applicants with a credit score between 640 - 699 receive offers
  3. 49% of applicants with a credit score of 700+ receive offers 

Fair to Poor Credit Score

if your credit score is below 640, there are lenders that specialize in loans with fair to bad credit

Terms and Conditions

Loan Amounts $1,000 to $100,000
Required Credit Score 590+
Minimum Annual Income $25000
Types of Income Salaried, Self-Employment, other sources of income
Variable Rate Option Fixed Rates
APR Range Rates starting at 3.99% APR to 35.99% APR (with autopay)* *Read rates and terms at Credible.com Credible offers loans from 6 providers
Loan Term 24 months - 120 months
Repayment Schedule Monthly by can Vary by lender
Credit Inquiry Initial Inquiry - soft, Loan acceptance - hard inquiry
Fees and Closing Costs No origination fee - other fees vary by lender
Secured Loans Unsecured
Co-Signer no
Direct Deposit Yes - with a valid checking account
Loan Purpose Consolidate credit cards, finance moving, home, medical, renovations etc.
Qualifications U.S. Citizen, permanent resident and 18+ years of age
Allows Military Yes
Insurance Varies by lender
Legal Documents Required U.S. Citizen, permanent resident and 18+ years of age
Number of Offers Up to 5 offers
Customer Service Contact by phone or email

Credible is also the leader in student loan refinancing and private student loan refinancing offering loans from multiple lenders for every state in America.

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Personal Loans Rate and Terms Disclosure: Rates for personal loans provided by lenders on the Credible platform range between 3.99-35.99% APR with terms from 24 to 144 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage, and history, and vary based on the loan purpose. The lowest rates available typically require excellent credit, and for some lenders, they may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has its own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to select Autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.