Credible Marketplace Review

Company Overview

Credible is an online marketplace for loan comparisons that allows borrowers to compare student loans, student loan refinancing and other loan options that best suit their needs. The company was established in San Francisco in 2012 as a way to empower borrowers by allowing them to compare rates and products.

Borrower tip: Refinancing federal student loans into a private student loan can make you ineligible for certain types of protections, such as income-driven repayment plans, federal debt forgiveness programs and forbearance/deferment options through the Department of Education.

The Best Student Loans Available to You

What types of student loans does Credible offer?

Credible offers prequalified interest rates on a range of loans, including:

Consolidation of student loans

What is Credible?

It is a fairly straightforward process. Start by choosing the type of loan that you are interested in and then filling out a request form. You will be asked questions about your finances, your education and you can also add a co-signer to increase your chances of being approved. If you don't have much established credit, or a high income, this is a good option.

The entire process should only take two minutes. Credible will perform a soft check of your credit, which won't affect your score. You'll receive a list if you qualify for any Credible partner's products. Filters can be used to refine your search.

The user can then select the loan that best suits their needs. Credible allows you to send your information straight to the lender.

What are Credible's terms, fees and conditions?

Credible is completely free. Credible earns referral fees if you use the Credible portal to apply for a student loan. Credible's lending partners for student loans do not charge any origination fees.

What discounts does Credible offer?

Due to the fact that Credible is an online marketplace, you will receive different discounts depending on which lender or lenders you select.

How can you qualify?

Students must be at least partially enrolled in an educational program to qualify for a Credible partner lender's student loan. You'll also need a co-signer if you are under the state's majority age. Students from abroad are eligible as well if they have a U.S. mailing address and a co-signer that is either an American citizen or permanent resident.

Credible offers options to borrowers with and without a degree. Federal student loans and private loans including Parent PLUS loans are eligible for refinancing, as long as they were taken out by the borrower who is applying.

What credit score do you need?

Credible, as a marketplace with multiple lenders, does not have a minimum credit score. Credible notes that adding a co-signer with a good credit score will increase your chances of qualifying if you only have a limited credit history.

Where does Credible operate?

Credible only matches you with lenders in your locality based on the information that you provide.

Credible is Reputable, or Credible?

Credible is accredited by the Better Business Bureau and has a rating of A+ since 2015. Credible received a rating of 4.6 stars out of 5 on Trustpilot based on over 5,200 reviews. Credible received three complaints from the Consumer Financial Protection Bureau in 2021 regarding student loans. Each complaint was promptly addressed.

What is the Customer Service like at Credible?

Contact Credible by email at EMAIL or call 866-540-6005. You can also chat directly online.

What Are Some of Credible Online's Features?

Credible allows you to apply for prequalification, upload documents, and sign loan agreements from your personal account.

What are the options for deferment and repayment?

Credible is not a lender. Therefore, the deferment or repayment options you receive will depend on which company you select.

What are the options for discharge?

Credible is not a lender. Therefore, the options for discharge will differ depending on which company you select.


Does Using Credible Affect Your Credit Score?

When you request rates, Credible will not make a hard credit inquiry. It performs a soft credit inquiry that has no impact on your score. You are not guaranteed prequalified rates with every lender.

If you decide to proceed with the full application for a lender, they will then do a more thorough investigation of your credit, which may temporarily affect your score.

Does Credible Offer Loans?

Credible isn't a lender, it's a marketplace that allows you to compare lenders. Consider it a tool for research to help you get a customized snapshot of your options, based on your personal financial situation.

Credible Marketplace is Best for:

People who are interested in getting an idea of the rates available without having to pull their credit or pay any fees.