There are many reasons why you might find yourself in need of a personal loan. It could be for covering emergency costs you weren't expecting, like a sudden health emergency or vehicle repair, or it could be used to assist with the purchase of something special, like a new car. Either way, it's important to find the right lender, and Credible can help you do just that. Our Credible personal loans review will tell you all you need to know about this company.
Credible isn’t actually a lender. It’s a brokerage service, offering a comparison tool that allows users to enter some basic information and then get quotes from lots of different lenders in a matter of minutes. It’s a 5-star rated business with a lot of positive reviews, and it’s helped a lot of people find the best possible rates and save plenty of cash in the process. What’s more, it doesn’t cost a thing to use Credible, so you can get rapid, risk-free quotes at any time.
As stated above, Credible won’t issue you a personal loan, but it can help you find a loan from a lender with rates and terms that work for you. The whole process is fast, free, and very simple, and it’s a great choice for people who are looking for personal loans but don’t want to spend hours and hours of their own time filling out forms on lots of different sites to find the best choice.
In essence, Credible works like many other comparison tools you might have used in the past for finding things like auto insurance or credit cards; it takes some information from you and then sends it out to multiple providers simultaneously, running a soft credit check in the process and then providing you with several loan offers you can choose from.
The soft credit check won’t do any damage to your credit score, so you don’t need to worry about that, and the whole process can be completed in just a couple of minutes. Then, once you’ve got your quotes, you can click through whichever one seems best and Credible will redirect you to the lender’s site to submit your application.
Since Credible works with a lot of different lenders, the features and specifics of the loan you get via this tool will vary. However, we can at least look at some ranges of what Credible has to offer to get an idea of what sorts of loans you can expect to find from this provider.
Amounts – You can find personal loans ranging from $600 up to $100,000 with Credible.
Fees – There are no hidden fees that come along with using the Credible service, but you may need to pay fees with a lender if you choose to take out a loan.
APR – The APR on personal loans obtained through Credible ranges from 2.49% up to 35.99%.
Terms – You can find personal loans on Credible with terms ranging from 12 to 84 months, or between one and seven years.
The specific eligibility requirements for getting a loan on Credible will depend on which lender you end up contacting, as some can be stricter than others. However, Credible demands that all applicants must be US residents or citizens, have their own checking account, be 18 or older, and have a credit score in excess of 620. This credit score requirement can be a downside to using Credible, as not everyone will be able to qualify.
Is Credible a trustworthy service? Absolutely. This site has been around for some time now and has high ratings on major review sites, with many users thoroughly satisfied with the speed and efficiency that Credible has to offer. The company is also very dedicated to customer care, treating each user’s data in a responsible and reliable way, although they take no responsibility for how lenders handle the same data. Their site is really clearly designed and easy to use, with an in-depth FAQ section that can help you learn more, along with a live chat service and a telephone helpline you can contact too.
Overall, if you’re looking for a personal loan and want to make sure you get the best rate, but don’t want to spend a lot of time and effort on searching through lenders, Credible is a great option for you. The credit score requirements can be a little strict, but this service is one of the best around for finding the best value personal loans with rates and terms that are just right for you.