is credible legit


Is Credible legit? Are you wondering whether the company Credible is legit? You’re in good company.

About a year after we graduated from law school (me) and dental school (husband) we decided to refinance our student loans for a lower interest rate to save money on our debt. This simple act saved us thousands of dollars but it was super overwhelming at first. There are tons of lenders you can choose to refinance with. Ultimately, we, like most other people, opted for the lender who offered the best interest rate. But it was a little unnerving applying to refinance our student loans with multiple lenders because we wanted to be able to compare rates without impacting our credit score– as it turns out, this is exactly what Credible does. If you’re curious “is Credible legit?” Having used them twice now, I can confidently answer that they are. Here’s what you need to know about them. 

First of all, Credible is not a lender at all but rather a marketplace for loans. Think of it as a supermarket for student loans, personal loans, and mortgages. Supermarkets sell other people’s products. That’s what Credible does too. Credible simply allows you to compare lenders and their rates in one easy to see place. You only have to fill out one application and then they compare the best interest rates for you. You simply choose the lender you want to go with (highly recommend the one that’s offering you the best rate!) and then you proceed forward with that lender. So Credible is actually not a lender at all, but more like on online broker helping you find the best deal.

When I first heard of Credible, I was a little skeptical. It seemed weird for a website to allow you tools to access different lenders rates while getting nothing in return. Credible makes money from deals it has with the lenders it allows you to compare at no cost to you.

We’ve personally used Credible to refinance our student loans and also to find a mortgage on a house. Here’s what you need to know about whether Credible is legit and if you should use them– the pros and cons of using Credible.


Compare multiple lenders at a time.

What I really like about Credible is that it makes shopping for a loan (mortgage, personal loans, student loans) really easy. It’s all in one easy to see place and you can compare lenders in a nice fancy chart. It’s easy to see which lender is offering you the best deal so you can move forward with that lender. You can take out a new mortgage, refinance a mortgage, take out a personal loan, student loans, or refinance student loans with their lenders. 

No impact to credit score to check.

Another thing I really like about Credible is that they don’t do a hard credit check to see what kind of interest rates you qualify for. That means that even though you are getting lots of options to choose from for the loan you want to take on, it won’t impact your credit score. That’s really important when you are trying to figure out who to choose for your loan. 

One application.

I also really liked that you only have to fill out one application with Credible. Sometimes applications for loans can be lengthy. They ask for a lot from you. So it’s nice to have that in one place instead of spending hours filling out several applications with several lenders. 

You don’t have to talk to anyone.

This was more of a pro that my husband liked– but you really don’t have to talk to anyone to find out what the best interest rate is for you with Credible. So introverts rejoice! Sometimes when I’m trying to make a big decision, such as refinancing my student loans, it overwhelms me to feel like there is someone trying to persuade me what to do. Credible just gives you the cold hard numbers and there’s no one there trying to convince you of anything. 

Competitive rates.

An obvious thing I like about Credible is that the lenders they use offer the most competitive rates out there. I like knowing that we’re getting the best deal. Getting the lowest interest rate possible on debt can make a huge difference in how quickly you can pay it off and should be one of the top factors you consider when taking on debt. 


Might miss out on some local/other lenders.

Probably the biggest downside of using Credible is that you might miss out on interest rates with local lenders that aren’t on Credible’s website. So if you want to compare all of Credible’s lending partners with a local lender, you’d have to fill out a separate application with them.

Might miss out on refinancing bonuses. 

Some people are drawn into refinancing because lenders will offer refinancing bonuses, I’ve seen as high as $1,000. Depending on your student loan balance, you might still qualify for one of these bonuses with Credible depending on the lender you select but you also might miss out on a bonus. I’ll note that getting a better interest rate almost certainly going to save you more money than you’ll get out of a sign on bonus.

I like companies that make my life easier and don’t cost me anything extra– that’s what Credible is. I used Credible last year to refinance my student loans and had a great experience. You can compare rates for refinancing your private student loans here. If you have federal student loans, I’d recommend waiting until the 0% interest period ends on December 31 before looking into refinancing them. 

If you’re looking for a mortgage, you can compare mortgage rates here

If you’re interested in refinancing your mortgage, you can compare rates here.

For personal loans, you can check rates here

Got debt? Be sure to access our debt help center where you can find tons of free information and tools to help you pay off debt faster. 

And if you’re on a journey paying off debt, be sure to grab our free app, Paidback, available on iOS:paidback app link



We accept compensation from companies that appear on the site, and such compensation impacts the location and order in which the companies (and/or their products) are presented, and in some cases may also impact the rating that is assigned to them. Read our full disclosure here

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

320 Blackwell Street Suite200 Durham, NC 27701
Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states.

All bonus payments are by gift card. See terms

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 Credible if you close on a loan product. Amount of compensation 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.

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