Credible Review

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Suitable For?

Credible student loan refinancing may be suitable for borrowers who want to personalized prequalified rates from multiple lenders and pay lower interest rates than on their current loans. Some borrowers with federally held loans may choose not to refinance in order to remain eligible for benefits applicable to federally held loans.

Loan Features

Credible offers loans with the following features:

• APR range: 3.85% - 12.10%
• Fixed-rate APR range: 3.85% - 12.10%*
• Variable-rate APR range: 4.55% - 13.30%* See Terms*
• Loans with minimum size of $7,500 and up, depending on lender and state

The Application Process

You can fill out an application takes around two minutes. Credible shows you personalized prequalified rates, without sharing your information directly with lenders or affecting your credit score. 

You can then choose the plan you want, and get actual prequalified rates based on your credit profile, not estimates.

After you provide additional details about yourself and your loan, you can get your final offer in as little as 1 business day.

Loan Eligibility Requirements

The main eligibility requirements for obtaining a loan from Credible are:

• Sufficient income to cover debts, including refinanced loans
• Minimum credit score between 670 and 700 for most lending partners

If you don’t meet Credible’s lending partners’ requirements, you may still qualify if you have a cosigner.

Repayment Terms

Fixed APR rate loans range from 3.85% - 12.10%* and up, depending on your credit score and other factors, with variable APR rate loans range from 4.55% - 13.30%* See Terms.

Credible offers loan terms from 5 to 20 years.

How Safe Is It?

Credible uses industry standard measures to protect your personal information:

• Encryption. Your data is encrypted at rest, and in transit using transport layer security (TLS) between your browser and Credible systems. Data is also encrypted internally within their infrastructure.
• HTTPS secure. Credible only uses HTTPS for transmitting requests, protecting your password. Your sensitive information such as social security numbers and login credentials are encrypted and unreadable to anyone except Credible.
• Process time. If your online session is inactive for a period of time, Credible autosaves your progress and logs out your session.

Help & Support

Help is available at:

• 1-(866)-540-6005 available 7 days per week
• Live chat on website
• Email support@credible.com

Summary

Credible is an online lending marketplace for student loan refinancing, student loans, and other financial products. You can see offers with actual prequalified rates—not ranges. You can get help from the Credible Client Success Team throughout the process. By lowering your interest rate, you can save significant amounts of student loan interest over the lifetime of your loan and possibly even pay off your student loan debt sooner.

Physical Address

320 Blackwell Street Ste 200

Durham, NC 27701

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*Read rates and terms on credible.com

Disclosures

Rates displayed include Automatic Payment and Loyalty Discounts, where applicable. Note that such discounts do not apply while loans are in deferment. The lenders on the Credible.com platform offer fixed rates ranging from 3.85% - 12.10%* (3.85% - 12.10%* APR ) and Variable interest rates from 4.55% - 13.30%* (4.55% - 13.30%* APR). Variable rates will fluctuate over the term of the borrower's loan with changes in the Index rate. The Index will be either LIBOR or SOFR. Rates are subject to change at any time without notice. Your actual rate may be different from the rates advertised and/or shown above and will be based on factors such as the term of your loan, your financial history (including your cosigner’s (if any) financial history) and the degree you are in the process of achieving or have achieved. While not always the case, lower rates typically require creditworthy applicants with creditworthy co-signers, graduate degrees, and shorter repayment terms (terms vary by lender and can range from 5-20 years) and include Automatic Payment and Loyalty discounts, where applicable. Loyalty and Automatic Payment discount requirements as well as Lender terms and conditions will vary by lender and therefore, reading each lender’s disclosures is important. Additionally, lenders may have loan minimum and maximum requirements, degree requirements, educational institution requirements, citizenship and residency requirements as well as other lender-specific requirements. Lenders will conduct a hard credit pull when you submit your application. Hard credit pulls will have an impact on your credit score.

Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states. www.nmlsconsumeraccess.org.

320 Blackwell Street Suite200 Durham, NC 27701

Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states. 

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. 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.

Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

We accept advertising compensation from companies that appear on this site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company lists on this page DO NOT imply endorsement. We do not feature all providers on the market.

We receive compensation from the companies below if you [click on a link/purchase a product]. Amount of compensation [does/does not] impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.