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. AVANT, best egg, freedomplus (offering co-signing), Lendingclub, Marcus: by Goldman Sachs, Payoff, Prosper and Upstart receive the borrowers loan request and can bid on this business at the same time.

The borrower could receive up to 8 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

Bottom Line

Credible provides a platform that enables you to compare the personal loan options you qualify for from multiple lenders side-by-side, based on all of the criteria that are important to you, like total repayment amount, APR, repayment options, and monthly payment.

Income requirements vary by lender. Some lenders will accept annual incomes under $25,000 if the credit score and history are strong. Other lenders require a minimum salary of $50,000

What's good about Credible Personal Loan?

Have a strong credit history.

Sufficient annual salary for repayment of loan.

What's bad about Credible Personal Loan?

Applicant has a limited credit history

Have had a bankruptcy within the last 5 years.

Loan Amounts $1,000 to $50,000
Required Credit Score 640+
Minimum Annual Income $25000
Types of Income Salaried, Self-Employment, other sources of income
Variable Rate Option Fixed Rates
APR Range 4.99% to 35.99%
Loan Term 2 years - 5 years
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 8 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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