How You Can Compare Competitive Loan Offers With Credible

 February 28, 2018
How Student Loan Hero Gets Paid

How Student Loan Hero Gets Paid

Student Loan Hero is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). Student Loan Hero does not include all lenders, savings products, or loan options available in the marketplace.

Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Student Loan Hero is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.

Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the financial institution.

Refinance Student Loan rates starting at 1.88% APR

1.88% to 6.15% 1

Visit Lender

1.88% to 5.64% 2

Visit Lender

2.50% to 6.85% 3

Visit Lender

  • Variable APR

When it comes to taking out a loan, it’s tough to know where to start. There are thousands of banks, credit unions, and other lenders across the country to choose from.

That’s where Credible comes in. Credible compares offers from a variety of lenders so you don’t have to. After you enter a few pieces of basic information on the Credible site, it will show you preliminary loan offers from multiple lenders.

If you find an offer you like from Credible, you can take out a loan or refinance your student loans. If not, you aren’t committed to any of the offers.

To learn more about how Credible simplifies the loan shopping process, check out this full Credible review.

Credible review: What is Credible?

When you shop for airline tickets, you probably use a flight comparison website to find the best deal. Credible works much the same way, but rather than comparing flights, it shows you offers for personal and student loans. Credible checks rates across a variety of lenders so you don’t have to.

Plus, it customizes each offer to your individual profile. All you have to do is enter a few pieces of information (name, income, former university, ). Then, Credible will run a soft credit check to get a sense of your financial history. Credible is able to run an instant soft credit check because it works with the three major credit bureaus: Equifax, Experian, and TransUnion.

Since it’s a soft check, this inquiry won’t affect your credit score in any way. Nor do you have to pay any fee to use this secure service.

Assuming you meet each lenders’ eligibility requirements, you’ll then prequalify for a variety of offers. None of these offers are binding and you have no obligation to accept any of them.

If you do find one you like, you’ll go on to submit a full application through the lender itself.

What products does Credible offer?

Credible will show you offers for three types of loans:

  • Personal loans
  • Student loans
  • Refinanced student loans

Credible’s lending partners offer personal loans between $500 and $40,000. For a private student loan, you can take out anywhere from $1,000 up to your school’s maximum certified total cost of attendance. To be eligible for a refinanced student loan, you must have more than $5,000 in student debt.

When you refinance, you combine all your private and federal student loans into one private loan from a new lender. Depending on your creditworthiness, your new loan could have better terms and a lower interest rate than what you have currently.

As a result, refinancing your student loans could save you a lot of money over the life of your student loans.

Which lenders does Credible work with?

While Credible provides you with a variety of offers, its offers are limited to its partner lenders.

Credible works with some big lenders, but it’s not connected with every major player. For instance, they don’t work with many credit unions, which often have some of the most customer-friendly terms on the market. Similarly, it isn’t partnered with refinancing companies like SoFi or CommonBond who have some of the lowest interest rates out there.

Credible takes much of the work of loan shopping out of your hands, but its selection of offers is limited to a select list of lenders. This makes Credible a good jumping off point as you begin to research your options, but you might be able to find a better deal by looking outside of their partners.

What interest rates can you expect to see?

Interest rates vary depending on the lender and your creditworthiness. At the time of writing, Credible’s student loan refinancing lenders offer variable interest rates as low as 2.60% and fixed interest rates starting at 3.49%. Loan repayment terms range from five to 20 years.

As for private student loans, variable interest rates start at 2.99% and fixed interest rates go as low as 3.99%. Finally, Credible’s personal loan lenders offer fixed interest rates starting at 4.99%.

The interest rate you ultimately get depends on your creditworthiness. Your creditworthiness is based on factors like repayment history and outstanding debts.

It’s also good to note that preliminary offers are not set in stone. Lenders have to review your full application before finalizing an offer. Plus, interest rates can fluctuate with the market.

If you get a good initial offer from Credible, you should act quickly to file a full application. That way, you’ll minimize the risk of interest rates going up before you lock in a good deal.

How to use Credible’s online platform

Credible’s online platform is easy to use, and you can browse loan offers in just a couple of minutes.

First, create your account by entering your email and a password. Then, indicate whether you’re interested in refinancing student loans, taking out a student loan, or taking out a personal loan.

what is credible

In this example, we’ll look at the process for comparing personal loan offers. After selecting “get a personal loan,” you’ll go on to fill out two short pages with your personal information. The first asks about your education and employment status.

credible student loans

The second asks for your address, citizenship status, and Social Security number. At this point, Credible will run a soft credit check to get a sense of your creditworthiness and confirm your credentials. This won’t affect your credit score at all.

After a brief wait, you’ll get a variety of loan offers. You can click on each one to get more details. If there are any you like, you’ll click away to the lender’s website to submit a full application.

If you’re refinancing your student loans though, you’ll need to provide additional documentation when you complete the full application. You’ll upload proof of income, as well as loan statements that show your monthly loan payments and principal balance.

Eligibility requirements to use Credible

Beyond loan limits, Credible doesn’t have many restrictions for its users. To apply for a student loan, you must be enrolled in a qualifying educational program at least half-time. If you’re under 18, you have to apply with a cosigner. International students can apply, but they must have a cosigner who’s a U.S. citizen or permanent resident.

Student loan refinancing, however, is limited only to U.S. citizens or permanent residents. You must be 18 or over and you can’t currently be enrolled in a degree or other educational program. You could also choose to apply with a cosigner to possibly get better rates.

Personal loan eligibility varies by lender. To see if you might be eligible, you’ll have to fill out a prequalification form on Credible’s site.

Credible history

Credible was founded in San Francisco in 2012. Its founder and CEO, Stephen Dash, created Credible to help borrowers deal with the burden of student loan debt.

A native of Australia, Dash was motivated by his “sheer disbelief” at the student loan crisis in the U.S. Since 2012, Credible has raised over $24 million in equity funding from 16 investors.

It continues to work toward its mission to “bring simplicity, choice and unbiased support to all of life’s important financial decisions.”

Contact Credible for more information

When you compare your options through Credible, their support team stays in touch with you to answer any questions you have. You’ll likely get a phone call from a representative, as well as an email to check in. Plus, you can chat with its Client Success Team directly on the website.

For additional information beyond this Credible review, you can email [email protected] or call 866-540-6005. To stay up to date on company developments, like Credible on Facebook or follow them on Twitter.

Need a student loan?

Here are our top student loan lenders of 2021!
LenderVariable APREligibility 
0.99% – 11.98%1Undergraduate

Visit College Ave

1.13% – 11.23%*,2Undergraduate

Visit SallieMae

0.99% – 11.44%3Undergraduate

Visit Earnest

1.50% – 11.33%4Undergraduate

Visit Ascent

1.12% – 11.23%5Undergraduate

Visit SoFi

1.15% – 11.01%6Undergraduate



Visit FundingU

3.80% – 9.36%8Undergraduate

Visit CommonBond

* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.

1 Important Disclosures for College Ave.

CollegeAve Disclosures

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.

This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. This informational repayment example uses typical loan terms for a first year graduate student borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.10% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $141.66 while in the repayment period, for a total amount of payments of $16,699.21. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 8/9/2021. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

2 Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.

3 Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.

Earnest Disclosures

  1. Rates include 0.25% Auto Pay Discount
  2. Explanation of Rates “With Autopay” (APD)
    Rates shown include 0.25% APR discount when client agrees to make monthly principal and interest payments by automatic electronic payment. Use of autopay is not required to receive an Earnest loan.

    Available Terms
    For Cosigned loans – 5, 7, 10, 12, 15 years. 
    Primary Only – 10, 12, 15 years

    In school deferred payment is not available in AL, AZ, CA, FL, MA, MD, MI, ND, NY, PA, and WA).

4 Important Disclosures for Ascent.

Ascent Disclosures

Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit:

Rates are effective as of 10/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit:

1% Cash Back Graduation Reward subject to terms and conditions, please visit Cosigned Credit-Based Loan student borrowers must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs are available for the most creditworthy applicants and may require a cosigner.

5 Important Disclosures for SoFi.

Sofi Disclosures

UNDERGRADUATE LOANS: Fixed rates from 4.13% to 10.66% annual percentage rate (“APR”) (with autopay), variable rates from 1.12% to 11.23% APR (with autopay). GRADUATE LOANS: Fixed rates from 4.13% to 10.90% APR (with autopay), variable rates from 1.10% to 11.34% APR (with autopay). MBA AND LAW SCHOOL LOANS: Fixed rates from 4.08% to 10.86% APR (with autopay), variable rates from 1.05% to 11.29% APR (with autopay). PARENT LOANS: Fixed rates from 4.23% to 10.66% APR (with autopay), variable rates from 1.20% to 11.23% APR (with autopay). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin and your APR may increase after origination if the LIBOR increases. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Lowest rates are reserved for the most creditworthy borrowers. If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 4/1/2021. Enrolling in autopay is not required to receive a loan from SoFi. SoFi Lending Corp., licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. NMLS #1121636 (>

6 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

Undergraduate Rate Disclosure: Variable interest rates range from 1.15% – 11.01% (1.15% – 10.24 APR)Fixed interest rates range from 4.18% – 11.70% (4.18% – 10.83% APR).

Graduate Rate Disclosure: Variable interest rates range from 1.89% – 10.66% (1.89% – 10.41% APR). Fixed interest rates range from 4.64% – 11.23%% (4.64% – 10.95% APR).

Business/Law Rate Disclosure: Variable interest rates range from 1.89% – 9.22% (1.89% – 8.50% APR). Fixed interest rates range from 4.38% – 10.44% (4.38% – 9.72% APR).

Medical/Dental Rate Disclosure: Variable interest rates range from 1.89% – 8.02% (1.89% – 7.72% APR). Fixed interest rates range from 4.28% – 9.24% (4.28% – 8.94% APR).

Parent Loan Rate Disclosure: Variable interest rates range from 1.97% – 7.06% (1.97% – 7.06% APR). Fixed interest rates range from 4.94% – 8.58% (4.94% – 8.58% APR).

Bar Study Rate Disclosure: Variable interest rates range from 4.44% – 9.58% (4.44% – 9.52% APR). Fixed interest rates range from 7.39% – 12.94% (7.40% – 12.83% APR).

Medical Residency Rate Disclosure: Variable interest rates range from 3.53% – 7.03% (3.53% – 6.76% APR). Fixed interest rates range from 6.99% – 10.49% (6.98% – 10.09% APR).

Variable Rate Disclosure: Variable Rates are based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of June 1, 2021, the one-month LIBOR rate is 0.09%. Variable interest rates will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable rate is the greater of 21.00% or Prime Rate plus 9.00%. 

Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer.

Lowest Rate Disclosure: Lowest rates require a 5-year repayment term, immediate repayment, a graduate degree (where applicable), and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Rates are subject to additional terms and conditions, and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.

Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer.  Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.

Eligibility Criteria: Applicants must be a U.S. citizen, permanent resident, or eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For applicants who have not attained the age of majority in their state of residence, a co-signer is required. Citizens Bank reserves the right to modify eligibility criteria at any time. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/Promissory Note, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens Bank participating school.

Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.

Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.

7 Important Disclosures for Funding U.

Funding U Disclosures

Offered terms are subject to change. Loans are made by Funding University which is a for-profit enterprise. Funding University is not affiliated with the school you are attending or any other learning institution. None of the information contained in Funding University’s website constitutes a recommendation, solicitation or offer by Funding University or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

8 Important Disclosures for CommonBond.

CommonBond Disclosures

Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.  If you choose to complete an application, we will conduct a hard credit pull, which may affect your credit score. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.