Credible - Reviewed & Compared

Summary

Credible offers a convenient solution for individuals looking to consolidate their debt into one manageable monthly payment. With competitive rates starting from 6.40% fixed APR (with autopay) and loan amounts ranging from $600 to $200,000, Credible makes it easy to compare options from multiple lenders in just 2 minutes.

Company Overview

Credible operates as an online marketplace that allows consumers to compare offers from over multiple lenders for various financial products, including student loans, personal loans, mortgages, credit cards, and student loan refinancing. Their platform is free to use, and checking loan rates on Credible does not impact your credit score.

MORE: How Much Can Consolidating Your Debt Save You Every Month?

What Credible Does Best

Credible provides access to a wide range of lenders, offering consumers the flexibility to explore different loan options tailored to their needs. The platform's streamlined process allows users to prequalify for loans in about two minutes without affecting their credit score.

MORE: How Much Can You Save Every Month?

Any Negatives?

While Credible offers a diverse selection of lending options, it is important to note that they are not a direct lender. Additionally, borrowers may miss out on certain loan benefits, such as federal benefits, when opting for a private loan through Credible's lending partners.

Our Final Verdict: 8.8/10

Credible is an excellent choice for individuals seeking debt consolidation loans or looking to refinance their student loans. With a user-friendly interface and access to multiple lenders, Credible simplifies the borrowing process and helps consumers find competitive rates without incurring origination fees. However, borrowers should carefully consider the trade-offs between private and federal loan options before making a decision.

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