Compare multiple mortgage options at once
Pros
- Get pre-approved without harming your credit score and see the rates you qualify for
- Compare loan options from multiple lenders
- Simple and affordable
- Find the best mortgage rates for you in minutes
- Keeps your information confidential
- Refinance your mortgage to get cash
- The platform values transparency
Cons
- Fewer lenders to choose from
- Each lender has different approval requirements
- Fees may be applied by the lender
- Matches with lenders, but does not lend money directly
- Discounts are not available when applying for a loan through Credible
About Credible – Purchase
If you are struggling to manage multiple debts, a personal loan can help you combine them into a single loan with a lower interest rate. This can make it easier to repay your debt and get your finances back on track. Surely, you have come across Credible if you’re looking for money lenders online. Credible is a personal loan marketplace that helps users search for loan rates and terms from multiple lenders to find the best option for their financing needs.
Since its founding in 2012, Credible has become a seamless platform that connects borrowers with customized rates and lenders, while also providing educational content on core lending and borrowing topics. Its educational content and loan products make it a nearly one-stop shop for borrowers. Credible is ideal for borrowers who want to compare different loan types and lenders in one place, without having to visit multiple websites.
Available Loan Options
Credible is a platform that connects borrowers with a wide range of loan options from multiple lenders, to meet their individual financial needs. It is better to search within the appropriate category for your specific loan type as it may yield better results. Personal loans on Credible can range from $600 to $100,000 with repayment terms of one to seven years.
The platform is best especially for students. It allows them to easily compare real-time loan quotes for student loan refinancing, private student loans, personal loans, and mortgages.
See the available loan options you can find at Credible below.
Student Loans and Refinancing
Private student loans are the most popular type of loan to refinance, but you can refinance any type of student loan such as private, ParentPLUS loans, and federal.
Credible’s partner lenders offer a wide range of student loan options, which include fixed- and variable-rate private loans. These loans can be used to pay for most or all of your college expenses, such as housing, books, food, and transportation.
Credible has a flexible repayment term for private student lending. Lenders offer several options on how can you pay for your loan, including flat rate payments interest-only payments, and deferred payments.
Having a cosigner option for getting private student loans is a big plus for Credible. Adding a cosigner to your private student loan application can be a great way to improve your chances of getting approved and to get a lower interest rate. Credible is also one of the few lending platforms that allows borrowers to compare different cosigners to get the best possible interest rate and terms on their loans.
Mortgage Loans and Refinancing
Credible can help you get pre-approved for a mortgage in just three minutes. With Credible’s streamlined pre-approval process, you can be confident that you know exactly how much home you can afford. With one quick application, you’ll be presented with offers from multiple lenders, so you can compare rates and terms and choose the best loan for your needs.
Credible also offers a variety of mortgage refinancing options, including fixed- and adjustable-rate refinancing, as well as cash-out refinancing, from leading lenders.
Whether you’re looking to lower your monthly payments, shorten your loan term, or access equity in your home, Credible can help you find the best refinancing option for your needs.
Debt consolidation
Personal loans are often used to consolidate debt. This involves taking out a single loan with a lower interest rate to pay off multiple high-interest debts, such as credit cards. Debt consolidation can make your monthly payments easier to manage, save you money on interest, and help you get out of debt sooner.
Credible offers a variety of personal loan options, including loans for debt consolidation. You can compare rates and terms from multiple lenders with just one quick application.
Credit Card Refinancing
Credible offers a range of credit card options, including zero-annual-fee cards, cash-back and travel rewards cards, cards with welcome offers, and cards with no foreign transaction fees. You can also use Credible to compare personal loan options for credit card refinancing, which can help you lower your monthly payments or get more time to pay off your debt.
What Do People Say About Credible?
This company really treats you like a person, not just a number. They value your privacy and are really patient. They put a lot of focus on repayment options, which is so important because it lets you choose a plan that fits your budget. The application process was simple and didn’t take long at all. Usually, these applications are complicated and confusing, but this one was clear and straightforward. Whenever I had a question, the staff were ready and willing to help, and they explained everything respectfully. I appreciate a loan company that understands what you need and does their best to help. Plus, their interest rates are reasonable, which is a big relief!
Using Credible was a breeze, even for someone like me who’s not great with technology. It guided me through each step, showing me different loan options to pick from. I chose the one that suited me best, filled out the application, and in just a few days, I got an email saying I was approved. It couldn’t have been simpler for me to apply for a loan. Thanks to Credible, I finally got the chance to consolidate my debt into one easy monthly payment. Appreciate it, Credible!
Credible Pricing and Rates
Just like Savology, Credible offers free pre-qualification for its products, which means that you can compare loan offers and get an idea of your chances of approval without impacting your credit score. You can apply for, compare, and select a loan on Credible for free, with no fees, except if you choose borrower-paid compensation (BPC) when obtaining a mortgage. Credible earns revenue from referral fees from lenders when borrowers take out loans through its platform.
Credible is incentivized to provide unbiased support because it does not originate its loans. It considers credit scores, debt-to-income (DTI) ratio, and educational background to provide the most accurate rates. Adding a co-signer can increase the borrower’s chances of approval and help them find the best interest rate.
The rates quoted on Credible were similar to those offered directly by the lenders. Credible allows you to compare rates from multiple lenders simultaneously, without having to visit each lender’s website individually. Going directly to a lender may involve a more extensive process, such as a hard credit inquiry and income verification. Rates change over time, so you may need to act quickly to lock in the best rate.
Credible’s Best Rate Guarantee
Credible is the only lending marketplace that offers a Best Rate Guarantee, which pays users $200 if they find a better personal loan rate. Users must submit their claim within 10 days of prequalifying on Credible to get paid for finding a better personal loan rate with the same information. They have to notify Credible within seven days if they have closed the loan.
Is it Reliable?
Credible’s privacy policy states that the company will not share your personal information with any third parties without your permission. Sharing sensitive personal information like your Social Security number when applying for loans can be worrisome. Credible’s use of encryption is a good example of a strong security measure. SSL certificates are used to create a secure connection between a website and a user’s browser.
It also uses a 256-bit security system making it very difficult for unauthorized individuals to access its users’ data. This is important for building trust with customers and maintaining a positive reputation. Credible users can be confident that their data is safe and secure.
Customer Support
Credible has its lines open six days a week to answer customers’ queries. You may contact their customer service on Monday to Thursday from 9 AM to 9 PM ET, Friday from 9 AM to 7 PM ET, and every Saturday from 10 AM to 6 PM ET.
In addition to the contact methods listed above, you can also reach Credible’s customer support via email or live chat.
Conclusion
Credible is a reliable platform for comparing personal loan options from a variety of reputable lenders, helping borrowers make informed decisions about their finances. Credible offers a variety of features that make it a great choice for borrowers, including free matching services, no prepayment penalties, and the ability to get preapproved for multiple loans at once. This gives borrowers the flexibility and control they need to find the best loan for their needs.
Credible keeps its word by providing a clear and easy-to-understand personal loan process. Credible provides a smooth and easy customer experience, with a simple and user-friendly interface. Credible is a quick and easy way to get real-time quotes from multiple lenders. It is highly recommended to check out Credible if you’re considering a private student loan, refinancing your current student loan or mortgage, or taking out a personal loan. It’s free to use, so you have nothing to lose and everything to gain.
