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Credible Student Loans Review
Credible Student Loans Review
ConsumersAdvocate.org Rating: 8 / 10 (Very good)
Disclosure: We receive advertising revenue from this partner. Learn more.
Founded in 2012, Credible provides a free online platform where customers can comparison shop for student loans and student loan refinancing. Borrowers can receive prequalified offers from multiple lenders in minutes and compare interest rates, loan terms, and fees to find the financing that best suits their needs. The company is A+-rated by the Better Business Bureau. Credible is located in San Francisco, California.
How is Credible Student Loan rated?
Breakdown
4.0/5
Loan Details
4.0/5
Eligibility Criteria
4.0/5
Customer Experience
4.0/5
Additional Benefits
Overall Rating: 4 / 5 (Very good)
As an online marketplace with access to a number of lenders, Credible is a great solution for consumers who want to shop around to find the student loan that best fits their needs. Credible is free to use, with no loan origination or service fees. Credible has a large database of student loan resources to assist applicants who may feel overwhelmed by the complicated lending process. The company receives much praise from customers on Trustpilot and is A+ rated by the BBB. Overall, Credible offers a great service and is an excellent place to begin searching for a private student loan.
Credible Student Loan Loan Specifics
Loan Details - 4 / 5
Credible is an online marketplace that allows customers to receive prequalified rates from multiple lenders, including Citizens Bank and College Ave. By answering a few questions, applicants can get prequalified for loans from several lending sources. This service costs nothing. Credible does not charge application or service fees. Credible's partner lenders do not charge pre-payment fees but late payment fees may apply. Review your loan offers carefully before accepting on to fully understand what fees you may be liable for over the life of your loan.
| Loan Types |
Undergraduate
Graduate
Career Training
Parent
|
| Loan Term | 5, 7, 8, 10, 12, 15, and 20 years |
| Interest Rates |
Fixed
Variable
|
| Repayment Options |
Deferred
Fixed
Immediate
Interest-Only
|
| Fees |
Collection
Lender Late Payment
|
Fixed APR Range
4.07%-15.66%
Variable APR Range
4.98%-16.70%
Disclaimer
Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Lenders will conduct a hard credit pull when you submit your application. Hard credit pulls will have an impact on your credit score. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.
Credible Student Loan Qualifications
Eligibility Criteria - 4 / 5
Since Credible is not a direct lender, but rather a marketplace that connects consumers with other lenders, any qualification requirements will depend on the lender selected by the applicant. Credible, however, is a licensed loan broker.
| Course Load | Half-time |
| Citizenship Requirement |
U.S. Citizen
Non-U.S. Citizen with a Cosigner
|
Credible Student Loan Customer Experience
Customer Experience - 4 / 5
Credible lets consumers prequalify for multiple loan offers with an easy and fast online application. Pre-qualification is based upon a soft credit pull, so it will have no impact on a customer's credit score. Credible makes it easy to add/compare rates with and without adding a co-signer so they can assess whether adding a co-signer makes sense for them. Though the site does not feature a student loan calculator, there are a great number of resources and blog posts about student loans that may be useful to many. Live chat, phone, text, and email support is available during business hours.
| Online Quotes |
Credible Student Loan Company Reputation
Additional Benefits - 4 / 5
Credible is accredited by the BBB and rated A+, with enthusiastic and positive customer reviews posted on the profile. The company's reputation on Trustpilot is equally glowing. Customers most often praise how easy and fast it was to apply for a loan through Credible.
| Lender Type | Marketplace |
| Year Founded | 2012 |
| BBB Rating | A+ |
| Number of BBB Positive Reviews | 36 |
| Number of BBB Negative Reviews | 1 |
| Trust Pilot Rating | 4.7 out of 5 |
| Date Collected | 2021-04-14 |
Company's Disclosure
Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Lenders will conduct a hard credit pull when you submit your application. Hard credit pulls will have an impact on your credit score. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.
Company Profile
| Full Name | Credible Student Loans |
| Company Website | |
| Headquarters | 22 4th St. Fl 8, San Francisco, CA, 94123 |
- Fixed APRs range from %{apr_range_fixed}
- Compare rates and fees from multiple lenders
- Check rates without affecting your credit score
- Get prequalified in minutes
- See how adding a co-signer affects rates
Latest Credible Student Loan Reviews
E
Eva H
10/12/2021
I'm so happy that this application process was very simple and easy.