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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.
Last year, 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.
Visit Credible Credible is an easy-to-use online platform that helps you find and compare financial products like student loans and personal loans. 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.
1. Evaluate
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.
2. Compare
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.
3. Apply
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, 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.
Visit Credible Still want to shop around? Explore more debt consolidation options here with competitive rates and great customer reviews.
Credible Disclaimers
1. Personal Loans Rate and Terms Disclosure: “Rates for personal loans provided by lenders on the Credible platform range between 6.99% - 35.99%. APR with terms from 12 to 120 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 12%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 10.43%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 3, 2022, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.
2. Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states. www.nmlsconsumeraccess.org
