Credible
Personal loans enable customers to borrow money quickly, easily, and often at a lower interest rate than other short-term solutions such as credit cards. However, finding a personal loan that matches your needs can be tedious and time-consuming due to the sheer number of lenders on the market. Credible is an online personal lending brokerage service that compiles your data and presents you with a variety of loan options so you can pick the most favorable terms.
- Free to use, no hidden fees
- Loan amounts from $600 to $100,000
Pros
- Very easy to use
- Works with a wide range of lenders
- Rapid responses
Cons
- High credit score requirements
Credible Overview
Credible isn’t a lender. It’s a brokerage service that offers a powerful loan comparison tool that allows users to enter some basic information and then get quotes from many different lenders in a matter of minutes.
It’s a 5-star rated business with a host of positive reviews, and it’s helped thousands of customers find favorable rates and save money in the process. One of Credible’s most popular features is that its service is free to use since they receive a commission on the backend when someone is approved for a loan. This makes Credible a powerful borrowing solution because it saves time by comparing a variety of loans, AND it’s free.
- Amounts – You can apply for personal loans ranging from $600 up to $100,000 with Credible.
- Fees – There are no hidden fees that come 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, making them an ideal lender for medium to long-term borrowing.
Credible Personal Loans Requirements
While each lender has its own criteria for borrower requirements, Credible has a few standard requirements to use its platform, including a minimum age of 18, proof of income, and a credit score of 620 or higher. Since the Credible platform is more robust, the higher credit score requirement may prevent potential applicants from qualifying.
↑Reliability and Support
Credible has spent years building their reputation, and they have the reviews and testimonials to back it up. Thousands of happy customers matched with billions of dollars in financing are a testament to its care and customer service quality. Data security and privacy protection are top priorities for Credible, and it offers a variety of additional resources, including an in-depth FAQ section and customer service helpline.
↑Final Word
If you’re looking for a personal loan and want to get rates that work for you but don’t want to spend a lot of time and effort on searching through lenders, Credible is a great option for you. Not only is its service free to use, but they offer a ton of educational resources to ensure you are informed and apply for loans that fit your needs and budget. Although the credit score requirements can be a little strict, this service can be a powerful resource for finding the personal loans with rates and terms that match your needs.
↑* This content is not provided by the financial institution or the offer’s provider. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and does not constitute a financial or expert advice.
