Credible

Founded in 2012, Credible has established itself as a leading financial marketplace focused on helping consumers make better financial decisions through transparency and simplified comparison shopping. In 2019, Credible was acquired by Fox Corporation for $265 million, but continues to operate as an independent platform. Unlike traditional loan brokers or single lenders, Credible partners with multiple financial institutions to create a marketplace where consumers can easily compare personalized loan offers from various lenders through a single application process.

Credible's personal loan marketplace includes offers from more than 15 lenders, with loan amounts ranging from $1,000 to $100,000 and terms typically between 2 and 7 years. Interest rates vary by lender, borrower creditworthiness, and loan terms, generally falling between 4.99% and 35.99% APR. What distinguishes Credible is its commitment to providing real, personalized rates rather than estimated ranges. By collecting the necessary information upfront and using a soft credit inquiry (which doesn't affect credit scores), Credible can show users actual prequalified offers they're likely to receive if they formally apply.

The application process on Credible typically takes just a few minutes, with users receiving personalized offers from multiple lenders almost instantly. This allows borrowers to compare rates, terms, and features side-by-side in a standardized format, making it easier to identify the best option for their specific needs. While Credible itself doesn't charge fees to borrowers for using its marketplace, the lenders on their platform may have varying fee structures, which are clearly disclosed in the comparison tool. Once a borrower selects an offer, they complete the application directly with the chosen lender, often with an expedited process since much of their information has already been collected. Credible also provides dedicated loan consultants who can answer questions and guide users through the process, combining the convenience of digital comparison shopping with personalized support when needed.