Credible.com Reviews

About Credible.com

Credible.com is a website that describes themselves as "the easy way for graduates to reduce their student loan payments," by giving them the ability to compare multiple different lenders who are interested in consolidating their loans for them. 

How Does It Work?

Students with loans can simply go to their website and begin by using their specialized tool which allows them to quickly compare their student loan interest rates to other students across the country, so they can know right away if they are paying more than they should be on their loans.

Students who are interested in making a change on their loans can then fill out a single form, which takes about ten minutes, and submit it. This submission will share your information with a variety of lenders, who will then offer you different loan terms, allowing you to compare offers and choose the one which is best for you.  

Cost/Price Plans

Using this website is completely free, and there is no obligation for users to accept any loan terms if they do not like what they see. 

Refund Policy

Since Credible.com does not charge any fee for their service, they do not offer a Refund Policy. Some of the lenders you work with may offer cancellation terms, allowing users to back out of the deal within a short window of time if they need to, but this is only allowed by some lenders.   

Customer Service Contact Info

Customers who have questions, concerns, or complaints they would like to direct to their Customer Service team can contact them by email at [email protected] or by traditional mail at 576 Sacramento St, Level 4, San Francisco, CA, 94111.

Reputation

While there are not many user reviews available for this company, there are many different independent reviewers that seem very excited about this concept and the service they are providing to people. 

Competitors and Alternatives?

There are many companies that claim to help borrowers of student loans with various student loan forgiveness plans, but this company may be unique for providing a loan comparison service specifically for student loans. 

If you have any experience with this company or their products, please leave your Credible.com reviews below.

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4 ‘Credible.com’ Reviews
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1 Review

Hidden Credit Hit Permission

November 3, 2015

BE CAREFUL if you are just looking to shop around for rates. Somewhere hidden in their initial account creation small print is permission to run your credit. A hard credit run can negatively affect your credit score resulting in worse loan terns. If you really want to use this company, maybe it's fine but call them on the phone or online chat first and state clearly you are not yet ready to have your credit run until you know for sure you want to go with them. Most places put much more obvious sections that tell you you are about to consent to have your credit run. I don't respect companies that hide important terms in their small print. Having several credit hits in a row can drop you an entire credit tier.

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November 04, 2015

Hi Jaidee,

Thanks for writing the review above and I sincerely apologize about your experience with Credible. We do our best to indicate that our partner lenders may pull your credit depending on each borrowers credit worthiness and also include this in our FAQ section - https://www.credible.com/faqs. I would love to have the opportunity to chat with you and see how we could improve this experience. Please email me at [email protected] and we can set up a time to chat.

Thanks
Sandeep Chaudhary
Client Success

November 05, 2015

One should not have to read an entire FAQ page before creating an account to learn more about what products are offered. Creating an account to get more information should not involve more than creating an account. There should be a very clear point in the process where the user is presented with a clear option to explicitly choose to allow their credit to be run by a specific company. It should also be required to inform the customer of what having multiple credit hits can do to their credit score. Many people are unaware of how this process works. A sentence hidden down in a long set of terms and conditions that gives consent for any of your partners to run credit if they feel like it is not protecting the borrower's best interest at all. This is a problem in general with lenders being so eager to get your credit score without any regard for what that can do if you are trying to shop around and make an informed choice. It's a simple solution. Make it very obvious on your site when someone is consenting to credit and to whom they are giving permission. One clear screen or popup with big text that says "you are about to consent to having your credit run. Click here to learn more about how credit inquiries can affect your credit score" along with your disclaimer that lenders can only give you ballpark offers based on your self-reported score and no offer is final until you have consented to let them pull your actual score. Maybe give them a link to Credit Karma so they can look up their score from several reporting agencies and learn about how to manage their score. If someone is shopping around and unknowingly gives permission to 5 people to run their credit they are going to take a score hit that makes a big difference in their final offer. And lenders don't care. Younger people especially that have limited experience with loans, or refinancing, or worrying about their credit score, should be clearly informed of what they area about to consent to instead of having it hidden down in a long list of terms. Your goal of letting people compare many offers is a good service to keep products competitive and help borrowers becomes more informed. The credit piece should be part of this goal of transparency and making informed choices.

November 05, 2020

Absolutely; totally agree.

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1 Review

Finally, a service that makes student loan refinancing easy, convenient, and fast!

October 20, 2015

I had a tremendous experience with Credible. Although I had already refinanced my student loans one year ago, I was still unsatisfied with my rate considering my credit worthiness and income. Moreover, that process took over three months. One year later, I come across your site – a fantastic aggregator of banks willing to refinance student loans. After putting in very basic information regarding my loan and income, I was presented with dozens of options to refinance my loan within seconds. I ultimately decided to go with one of their lenders. Their rate was great and the terms were even better. Within three weeks of visiting Credible, I had refinanced my loan. No hiccups, no delays. I will save at least $1,000 a year and that’s after I had already refinanced my student loan to a much lower rate. When compared to my original federal student loan, I estimate that will save over $40,000 over the life of the loan. That’s $40,000 more I can now put into my daughter’s 529 college savings account.

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Great savings

October 15, 2015

The service from credible was great. I saved $12,000 on my student loan

August 02, 2020

Is this the same person that answered someone else's post later in the thread? It appears this person works in the Client Success department of credible.com

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1 Review

No value to the service

January 26, 2015

I have already refiniced my student loan last year and was lured into a low rate they've been advertising. I've filled out a preliminary application and was shown something like 3% which was low enough for motivate me going through the process.
Next day, I've started receiving text messages, phone calls and emails from a bunch of different lenders on my app. I thought it was very unprofessional as the expectation was that Credible would solicit my application on my behalf and present me with the rates available. Further more, when I logged into my Credible dashboard there was the list of lenders listed who supposedly were part of the bidding process. Which would fine, if it was't for the lack of the information provided be neither of them. Each of the lenders required me to go to their site and fill out the application yet again! This is unspeakable. I'm especially frustrated that I've given out my credit information to this scam service for something I could have done with a simple google search in 2 seconds.
I wished I've never wasted the time dealing with them.

October 15, 2015

Hi There!

Thanks for writing the review above. We've come a long way since Jan of this year and made the experience a lot better for clients. Your feedback has been heard and now qualified borrowers can receive up to 17 offers from our partner lenders! Feel free to reach out to me if you have any other questions [email protected]

Client Success

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