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Credible makes it easy to find and compare personal loans from top lenders, all in one place. Whether you need to consolidate debt or pay for an unexpected expense, Credible helps you find the best loan for your situation. With loans starting at $600, you can consolidate your debt into one low-interest monthly payment.
In 2023, Credible helped more than 69,600 people save money by finding loans that saved them over $63 million in interest payments. Lowering your interest rates can help save money and paying off your loan on time can improve your credit score. Plus, having a loan with a fixed end date gives you a clear path to paying off your debt.
Credible is an easy-to-use online platform that helps you find and compare financial products like student loans, personal loans, mortgages, and credit cards. It stands out for being transparent about rates and fees, so you can make informed choices. You can also check loan options with Credible's prequalification feature, which doesn't hurt your credit score.
Although Credible's network doesn't include every lender out there, it's a handy tool for quickly comparing different financial products. Customers have given Credible a high rating of 4.8/5.0 on Trustpilot, based on over 7,000 reviews, and the Better Business Bureau gave it an A+ rating and accreditation in 2021.
Credible’s Debt Consolidation services aim to simplify your debt management by combining multiple existing debts into a single, new loan or line of credit. Here’s how the process generally works:
Accredited DR’s settlement program works best for customers with at least $10,000 in unsecured debts. Unsecured debts include money owed from credit cards, medical bills, personal loans, and payday loans.
To effectively find the best rate, it's crucial to have a clear understanding of all your outstanding debts. This includes knowing the total amount you owe, the interest rates on each debt, and the status of each account, whether it's current or in default. Credible simplifies this process by using a straightforward form that asks specific questions to determine your eligibility for different lenders and rates.
Compare your current debt or loan amounts by the length of loan and interest rate. See how various lenders on Credible’s site can help you secure more favorable rates, save you money, and simplify your debt payments. This step helps you identify the most suitable loan type for your needs, and requires a soft credit inquiry. The prequalified rates shown reflect a soft credit inquiry and do not guarantee lender approval or set rates.
Choose the best loan option for your needs and apply to get your personalized rate, which might be different from advertised rates. The rate you get depends on various factors like your credit score, how much you want to borrow, how long you plan to take to pay it back, and your credit history. Usually, the lowest rates are offered to those with excellent credit and may be for loans with shorter payback periods.
Checking what rates you might qualify for on Credible is free, but finalizing a loan will have some costs. As soon as you've been approved, you'll just need to sign your documents. The majority of people receive their money within 24 hours of final approval.
If you take out a $10,000 loan to be paid back over three years with an interest rate of 7.99% and a $350 fee for processing the loan, you'll actually get $9,650 in your hand after the fee is taken out. Over the course of the loan, you'll make monthly payments of $313.32.
If you pay everything on time and follow the loan agreement, by the end of the loan you'll have paid a total of $11,279.43. Since 2019, none of the lenders through Credible ask for upfront money when you get the loan, and they won't charge you extra if you pay off the loan early.
Credible is a great resource for anyone looking to manage their debt or find the right financial products, like loans and credit cards, thanks to its easy-to-use platform and clear information on rates and fees. It helps you compare loan rates with just a simple form, making it easier to view your options. By understanding all your options, you can make smart decisions that help improve your financial health.
Consolidating your debt might not be the best move for everyone. It's important to look at your own financial situation carefully and talk to a financial advisor if you're not sure.
Credible Disclaimers
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.
