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Page 1Comments 0 - 10
Paul from Mc Donald's, Pennsylvaniaverified appraiser
Original review: January 6, 2023
I tried to get a loan consolidation through them. I easily make 57k a year as a trucker. It says Pre-approved and then goes to the bottom and says Denied. My credit score is good enough and so they cancel my credit with a denial after saying pre-approved. That is a success.
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Alanna from Pittsburgh, Pennsylvaniaverified appraiser
Original Review: April 8, 2022
I wanted to refinance my private student loan. It was less than $5k. I also have a government charge of $6k. They tried to get me to add the government loan, but I refused. Then they told me I couldn't refinance the private loan because it's only $4900 and less than $5k and they said I would have to take out a personal loan. I applied for a personal loan. I make over $100k a year, have a great credit score, no credit card debt, the student loans mentioned above, and a remaining car loan of about $12k, with 0 late payments. My application for a $5k personal loan was denied. They couldn't find a lender for me. To me this seems like an attempt to intimidate me or force me to add the second student loan like they wanted. I researched their lenders and went directly to a few websites to apply. They immediately offered me personal loans with much higher amounts than I needed and low interest rates. This website is a scam.
10 personasI found this review helpful.
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Doug from Lowell, North Carolinaverified appraiser
Original review: November 2, 2021
We never recommend using Credible! We approached Credible looking to refinance 3 investment properties to get our money back. My wife and I have credit scores over 800 and our net worth is well over $1.5 million. The following is what you can expect if you apply for Credible and Loan Depot:
• Poor communication – You can't call anyone, you have to make an appointment for them to call you.
• Poor response to emails (no response or late response).
• Lack of control: too many service providers and lack of coordination.
• No motivation/incentive to close within the interest rate lock period (45 days).
• In the first 45 days of our experience with Credible, we provided over 50 documents requested by Credible and LoanDepot subscribers. We always respond within 24 hours of your request. Negligible claims were made at the end of the 45-day period, just before the rate lock expired.
• We spent approximately $2,500 in appraisals for the 3 houses. The experience with Credible was so bad that we walked away and cut our losses.
• No sense of urgency: we finally cut our losses after 50 days.
The whole process with Credible was a huge waste of time and money.
45 personasI found this review helpful.
Dolly from San Francisco, CAverified appraiser
Original review: November 1, 2021
It took 5 months to refinance my house, 5 months!!!! No communication, no response, no accountability. I had the most horrible experience and was treated very poorly. I can't believe they treat their customers this way.
16 personasI found this review helpful.
Robby from Cherry Hill, New Jerseyverified appraiser
Original review: April 5, 2021
He started a refinancing process with this company. Right from the start the customer service is the worst I have ever experienced. Very rarely have I been updated on the status of my application. I had to call multiple times to find out what was going on. Received conflicting closing costs, numbers, etc., etc., etc. But the really amazing thing is never a person who attends to your needs or takes your calls. Even after leaving the messages, I never get the call on time, maybe after a few days. It is amazing to work with this credible company. I wish I could regret this whole process, but I got into a good rhythm and I didn't want to lose it. I hope to find some other company.
30 personasI found this review helpful.
CJ de Houston, Texasverified appraiser
Original review: March 17, 2021
To provide a real world experience... I DO NOT recommend Credible. I found your information quite inaccurate. One of their so-called "partners" didn't even put in an offer and was the shortest of about 5 lenders I applied directly with. When I applied directly with the presenting lenders, the rates were different. I'm not sure why this site gets such positive reviews. Have people verified that the information provided is actually accurate? Another interesting experience: the “best rate” guarantee is not given when you send if you are considered a partner. It's funny... Shouldn't they be more aware of member rates? Funny.
28 personasI found this review helpful.
B de Forbes, MNverified appraiser
Original review: February 14, 2021
My daughter and I filled out the forms just to verify the rates listed for a student loan. They say it won't affect credit score, but shortly after we logged into their website, both scores dropped.
25 personasI found this review helpful.
Chris from Louisville, KYverified appraiser
Original review: January 25, 2021
After reading about Credible Loans Only, I provided them with the requested information. They only gave me one option. They advertise that they find several lenders so you can compare and make a decision. When I spoke to their agent, all they could say is come back in thirty days. The only option they had at the time was a moneylender.
19 personasI found this review helpful.
Thomas de Post Falls, Idahoverified appraiser
Original Review: October 28, 2020
If you are looking for a home umpire, I suggest: "DO NOT USE RELIABLE LOANS". If you are self-employed or an individual contractor, they make the process almost impossible. After 12 years of stable income, 812-835 credit score from three credit bureaus, 21+ information to verify income, assets, etc. It's been 90 days and still no state to provide a creditor. Don't be fooled by the low advertised rates. They just aren't worth the time and effort.
43 personasI found this review helpful.
Ikechukwu from Nigeria, Akwaibom Stateverified appraiser
Original Review: October 1, 2020
Your company is great and the best I have ever seen. My experiences are very wonderful. I recommend it to people. You have helped so many people out of poverty and loneliness, our services are the best.
5 personasI found this review helpful.
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Credible's lending partners will work with credit scores as low as 670. If your score is lower, you can use a qualified cosigner to apply for a loan refinance.Does credible verify income? ›
Credible partners with each of the three major credit bureaus (Equifax, Experian and TransUnion). Each credit bureau may provide a different credit score on its final report. Does Credible verify income? Yes, Credible checks your pretax income when determining your eligibility for a loan.What is the minimum credit score for credible? ›
Meet minimum requirements to qualify
In general, you'll need to have a credit score of at least 620 to qualify for a loan.
Does checking your rates with Credible hurt your credit score? For its prequalification process, Credible performs a soft credit check, which will not hurt your credit score. If you proceed with an application, however, Credible will perform a hard credit check that may affect your credit score.How do you not get denied for a loan? ›
Build your credit score before you apply
To avoid being denied for a personal loan due to having a low credit score, the best thing you can do is build or repair your credit score before applying.
The most common reasons for rejection include a low credit score or bad credit history, a high debt-to-income ratio, unstable employment history, too low of income for the desired loan amount, or missing important information or paperwork within your application.What is the easiest loan to get approved for? ›
The easiest loans to get approved for are payday loans, car title loans, pawnshop loans and personal loans with no credit check. These types of loans offer quick funding and have minimal requirements, so they're available to people with bad credit.What happens if I get approved for a loan but don't use it? ›
If you took out an unsecured loan
That means the lender allowed you to borrow money with nothing more than your signature as a guarantee that the loan would be repaid. If you fail to live up to your end of the agreement, it will be reported to the credit bureau and your credit score is likely to take a nosedive.
Knowingly providing false information on a loan application is considered fraud and is a crime. For instance, putting an incorrect salary or falsifying documents would qualify as lying — and can impact you in serious ways. You could lose your loan.What is the lowest credit score to buy a house? ›
Generally speaking, you'll need a credit score of at least 620 in order to secure a loan to buy a house. That's the minimum credit score requirement most lenders have for a conventional loan. With that said, it's still possible to get a loan with a lower credit score, including a score in the 500s.
When you pay off a loan, your credit score could be negatively affected. This is because your credit history is shortened, and roughly 10% of your score is based on how old your accounts are. If you've paid off a loan in the past few months, you may just now be seeing your score go down.What is a good credit score to buy a car? ›
What Is the Minimum Score Needed to Buy a Car? In general, lenders look for borrowers in the prime range or better, so you will need a score of 661 or higher to qualify for most conventional car loans.Does Credible do a soft pull? ›
In order to provide personalized prequalified rates for the loan products on our site, Credible or its lender partners will perform a soft credit inquiry, as authorized by the prospective borrower. Soft credit inquiries do not affect your credit score.How long does Credible loan approval take? ›
Online lenders: Less than 5 business days. Banks: 1-7 business days. Credit unions: 1-7 business days.How many points does your credit score go down for an inquiry? ›
How do hard inquiries impact your credit score? A hard credit inquiry could lower your credit score by as much as 10 points, though in many cases the damage probably won't be that significant. As FICO explains: “For most people, one additional credit inquiry will take less than five points off their FICO Scores.”Does your credit score go down when you get denied for a loan? ›
Getting rejected for a loan or credit card doesn't impact your credit scores. However, creditors may review your credit report when you apply, and the resulting hard inquiry could hurt your scores a little.Why can't I get a loan with good credit? ›
It's possible to be turned down for a loan despite having good credit because the lender has established that you may not have the ability to repay. It's possible to be turned down for a loan despite having good credit because the lender has established that you may not have the ability to repay.Can a declined loan be approved? ›
In order to get your personal loan application approved after rejection, you need to gradually build your credit score and clear your credit report.What bank is the easiest to get a loan? ›
The easiest banks to get a personal loan from are USAA and Wells Fargo. USAA does not disclose a minimum credit score requirement, but their website indicates that they consider people with scores below the fair credit range (below 640). So even people with bad credit may be able to qualify.What are 5 things you need to get approved for a loan? ›
- Credit Score and History. An applicant's credit score is one of the most important factors a lender considers when evaluating a loan application. ...
- Income. ...
- Debt-to-income Ratio. ...
- Collateral. ...
- Origination Fee.
One of the most important factors in getting approved for a loan is having a good credit score. If you have existing loans or monthly bills, make sure to pay them consistently and on time to ensure that your credit score remains high. Read more about credit score in one of our previous articles.What is the lowest credit score for a loan? ›
Generally, borrowers need a credit score of at least 610 to 640 to even qualify for a personal loan. To qualify for a lender's lowest interest rate, borrowers typically need a score of at least 690.What is the smartest way to get a loan? ›
- Personal loan from an online lender. Compared to traditional lenders like banks or credit unions, online lenders boast convenience and speed given their fully online application and funding process. ...
- Loan apps. ...
- Cash advance from a credit card. ...
- Loan from family or friends. ...
- Pawnshop loan.
Top Instant Personal Loans from Banks.
|Bank||Instant Approval in||Personal Loan Interest Rate|
|Yes Bank||1 Minute||10.00% p.a. onwards|
|IDFC First||2 Minutes||10.49% p.a. onwards|
They'll likely check any and all of your bank accounts during this process. Finally, your lender uses your bank statements to see whether you have enough money in your account to cover closing costs. Closing costs typically range between 2% – 5% of the total cost of your loan.What two things can you do if your lender rejects a loan application? ›
- Identify Why Your Loan Was Denied. Before you re-apply for a loan, take time to identify why your lender denied your application. ...
- Remove Errors or Negative Remarks From Your Credit Report. ...
- Improve Other Key Qualification Factors.
What's more, if you apply for more loans after the 14- to 45-day period is up, it can actually hurt your credit score. Multiple applications outside a short rate-shopping period may indicate to the lender that you're a risky borrower.Do lenders verify with IRS? ›
The Income Verification Express Service (IVES) program is used by mortgage lenders and others within the financial community to confirm the income of a borrower during the processing of a loan application.How do lenders verify income? ›
Mortgage lenders usually verify employment by contacting the borrower's employer directly and reviewing recent income documentation. These documents can include an employment verification letter, a recent pay stub, or anything else to prove an employment history and confirm income.Can I use household income for personal loan? ›
You cannot simply use your spouse's income or your combined household income, even with their permission, when applying for a personal loan in your own name. Now for the good news. If your partner has a strong credit history and income, they can become a secondary “co-borrower” on the loan.
Factors that contribute to a higher credit score include a history of on-time payments, low balances on your credit cards, a mix of different credit card and loan accounts, older credit accounts, and minimal inquiries for new credit.How accurate is credit karma? ›
Here's the short answer: The credit scores and reports you see on Credit Karma come directly from TransUnion and Equifax, two of the three major consumer credit bureaus. The credit scores and reports you see on Credit Karma should accurately reflect your credit information as reported by those bureaus.What can I get with a 600 credit score? ›
- Upgrade Cash Rewards Visa®: Fair to good (580–740) ...
- Capital One QuicksilverOne Cash Rewards Credit Card: Fair to good (580-740) ...
- Mission Lane Cash Back Visa Credit Card: Fair to good (580-740) ...
- Capital One Platinum Credit Card: Fair to good (580-740)
It's a good idea to pay off your credit card balance in full whenever you're able. Carrying a monthly credit card balance can cost you in interest and increase your credit utilization rate, which is one factor used to calculate your credit scores.How can I raise my credit score 40 points fast? ›
- Check for errors on your credit report. ...
- Remove a late payment. ...
- Reduce your credit card debt. ...
- Become an authorized user on someone else's account. ...
- Pay twice a month. ...
- Build credit with a credit card.
Paying off your credit card balance every month may not improve your credit score alone, but it's one factor that can help you improve your score. There are several factors that companies use to calculate your credit score, including comparing how much credit you're using to how much credit you have available.What is the monthly payment on a $40,000 car loan? ›
If you take a car loan of $40000 at an interest rate of 4.12% for a loan term of 72 months, then using an auto loan calculator, you can find that your monthly payment should be $628. When the loan term changes to 60 months, the monthly payment on a $40000 car loan will be $738.83.What credit score is needed to buy a car without a cosigner? ›
There is no set credit score you need to get an auto loan. If you have a credit score above 660, you will likely qualify for an auto loan at a rate below 10% APR. If you have bad credit or no credit, you could still qualify for a car loan, but you should expect to pay more.How can I build my credit fast? ›
- Pay credit card balances strategically.
- Ask for higher credit limits.
- Become an authorized user.
- Pay bills on time.
- Dispute credit report errors.
- Deal with collections accounts.
- Use a secured credit card.
- Get credit for rent and utility payments.
Credible's lending partners will work with credit scores as low as 670. If your score is lower, you can use a qualified cosigner to apply for a loan refinance.
Credible partners with each of the three major credit bureaus (Equifax, Experian and TransUnion). Each credit bureau may provide a different credit score on its final report. Does Credible verify income? Yes, Credible checks your pretax income when determining your eligibility for a loan.What is the minimum credit score for Credible? ›
Meet minimum requirements to qualify
In general, you'll need to have a credit score of at least 620 to qualify for a loan.
You can often apply online within minutes and might even get an instant decision, depending on the lender. If you're approved, you'll typically get the funds within five business days. Some lenders send money even faster — for example, Lightstream might fund your loan as soon as the same business day.Is Credible a direct lender? ›
Credible is not a lender, a bank or a credit card issuer — we partner with top financial service providers so that they can provide you with a variety of competitive options, enabling you to quickly find the right financial product for your needs.How can I increase my chances of getting approved for a loan? ›
- Check the lender's eligibility criteria. ...
- Track your fixed-obligation-to-income ratio (FOIR) ...
- Apply for the right loan amount. ...
- Avoid applying for too many loans at the same time. ...
- Improve your credit score. ...
- Add your spouse or parents as co-borrowers.
Unlike other student loan companies that underwrite and disburse loans, Credible is a loan marketplace. Through its platform, borrowers can fill out one simple form and get connected to leading private student loan companies and student loan refinancing lenders.Can a approved loan be denied? ›
Banks will not approve another loan and will deem you overleveraged. Your DTI (debt-to-income) ratio will be unfavourable and you will not be able to allocate more of your income to clearing off your new loan.Does getting denied for a loan hurt? ›
Getting rejected for a loan or credit card doesn't impact your credit scores. However, creditors may review your credit report when you apply, and the resulting hard inquiry could hurt your scores a little. Learn how to wisely manage your next application and avoid unnecessary hard inquiries.How do you know if your loan will be approved? ›
Most personal loan lenders review your credit score, credit history, income and DTI ratio to determine your eligibility. While the minimum requirements for each of these factors vary for each lender, our recommendations include: Minimum credit score of 670.