Loans » Student Loan Reviews » Credible Student Loans Review – Is It For You?
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Credible Student Loans Review – Is It For You?

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Credible Review

Credible student loans is an online company that offers loans to students. They are the go-to solution to people seeking low-interest rates to refinance their current loans or take out new personal or private student loans. 

Their mode of operation is far from traditional, because what credible does is to connect borrowers with partner lenders within their platform, who are willing to lend to students.

Borrowers are able to locate options that can best suit their needs.

The company has been around since 2012, and they have since risen in popularity to become one of the most preferred loan processing company. 


On Credible Secure Website

Loan Types

– Private Loans
– Refinancing

Loan Amount

$1,000 – $100,000



If you wish to use them, you shall be required to fill out a prequalification form, after which you shall receive prequalified interest quotes from a selection of lenders simultaneously.

Basically, there are usually several offers spread out before them in an easy format that can give you great APR’s and flexible repayment terms.

The one thing that borrowers will appreciate about the site is how fast everything happens. There are no long waits, and no sitting around waiting for approval or rejection. You also don’t have to deal with annoying selling points from an agent.

How Credible Loans Work

This loan company has the simplest platforms. It is straightforward and takes approximately 2 minutes to find a lender. The procedure is as follows;

1. Finding a Rate

When you log onto the site, the first thing you should do is click on “Find My Rate.”

You will then be required to fill out a short form, and this takes a very short time. You will need to provide information about your current finances and education.

You should also fill out how much debt you want to take.

The best thing about this application process is that it does not impact your credit score because credible shall only do a soft credit pull.

2. Comparing Options

This is the next step. After you have filled out your personal information on the portal, you shall then be directed to a dashboard that contains lots of options from different lenders, which you may qualify for.

None of this is 100% guaranteed, because your information is not yet verified, and as such, the options are subject to change. But regardless, they are your pre-qualified rates.

3. Applying For The Loan

After choosing a lender, it is now time to apply for the loan. During the process, you shall be subjected to some more in-depth questions concerning the loan and your financial history. In addition, the lender shall run another credit check that is a hard credit pull.

All this shall happen on your chosen lender's site. When you are done, the lender will then work directly with you on finalizing all of the details.

In case you shall require a cosigner, you can also start this process on the website as well and have it all streamlined together.

How Much Does It Cost?

For students, this is the main selling point. Credible student loans are absolutely free.

You get to prequalify, compare rates and complete the entire Credible process without paying a single cent. They also do not charge any origination, service or prepayment fees.

You shall, however, be required to pay back the loan to the lender, plus the interest they shall charge on the loan, and any other charges they shall impose on the loan.

But worry not. Credible only partners with lenders who also do not charge any service, origination, and prepayment fees on their loans.

Pros & Cons of Credible Loans

Before making a final decision, it's important you'll be aware of both the pros & cons. Let's start with the benefits: 

The site is simple and easy to use, plus the entire process takes the least amount of time.

They are able to solve most of your problems in the same platform, without needing to keep moving you from one site to another.

This has got to be the best benefit of all time.

Rarely do you get a lender that is willing to give you options. Because Credible is not a lender, but a multi-lender marketplace, Credible loans gives you an opportunity to compare loan rates which enables you to choose the lender you like best.


From the application to review and disbursement, the process is absolutely free.

Checking the rates on Credible will only require a soft credit inquiry which does not affect your credit score.

Once you choose a lender and apply for a loan, will do a hard pull that will affect your credit score.

This company is just a middleman and as such, they have no control over the loan rates or the terms the lenders give to the students.

Credible doesn't present all lenders in the market, only the lenders that work with Credible.

Credible Products

Here are the main products you can find as a customer:

 – Student Loan Refinancing

Credible offers student loan refinancing options at low-interest rates.

The company connects students with lenders who can offer loans that can be utilized to repay all of their existing liabilities.

They also allow you to refinance your federal student loans, although:

  • You should not do this now because federal law has suspended interest and payments (among other benefits) for all federal student loans
  • This may not be advisable generally since federal loans have various benefits and protections such as income based repayment plans that may not be available with private student loans.

 – Private Student Loans

They work with lenders to offer private loans to students who are enrolled in school.

These lenders will offer both variable as well as fixed rates to the students. Lenders on the Credible marketplace are often viewed as among the best private student loan lenders in the country.

Just like other loans, you shall be required to fill out a very simple form, and then compare offers from multiple lenders.

Prequalification on Credible does not prompt a hard credit check either (but your lender will perform a hard credit check if you choose to apply for a loan). They make it easy for the students to use a co-signer if they do not qualify as a result of their credit reports.

With private loans, ensure that you understand in full, exactly what you are getting into. It is advisable not to take out private loans unless they absolutely must.

However, if you have to, using Credible loans is a great option.

 – Credible Personal Loans

Credible can connect you with personal loans on its platform as well. They use a similar procedure to the one outlined above for student loans.

This, however, doesn’t make sense for everyone especially if you are paying for college yourself but they do make sense for people looking to consolidate their credit card debts.

They offer personal loans from $1,000 up to $50,000 and their APRs basically range from 5.99%. The purpose of the loan determines the loan terms, but basically, you are likely to receive anywhere from 2 – 8 years. 

 – Credible Credit Cards

Credible has a credit card comparison tool that allows you to specify the type of card you want and compare different cards.

If for example, you wish to have a card with the most reward programs and 0% introductory interest rates or the with travel rewards, then you only need to fill out an application form and quickly compare the many options available.

You can also be able to filter out your selections based on credit score and other criteria available on the site.

Credible's Reputation & Customer Service 

The reputation of a lender is a very important requirement always to consider. Ensure that you look into the specific instructions and details about the lender. It's advisable to read up reviews and understand aspects like the loan requirements and previous records.

  • A+ on BBB: BBB assigns ratings from A+ (highest) to F (lowest). BB ratings are based on information in BBB files with respect to factors such as business's complaint history with BBB, type of business, time in business, transparent business practices and more.
  • 1/5  on BBB customers reviews (3 reviews): BB customer reviews allow customers to post positive, negative or neutral reviews about marketplace experiences.
  • 4.7/5 on Trustpilot ( 4303 reviews): TrustScore is also an overall measurement of reviewer satisfaction, represented numerically from 1 to 5. 


There is a reason why Credible student loans are at the top of the list when it comes to the best student loan marketplaces.

They offer their services for free, they give you a list of lenders to choose from and they have a wide variety of products for students. You could say that the Credible website is a sort of “one-stop-shop” for all things loans.

As a student, it is important that you find the cheapest and most reliable lender because paying student loans is no fun. Credible offers one of the best options for students.