loans like credible

Financial institutions like Credible can connect borrowers to a wide variety of financial products and services, including personal loans, Bad Credit Loans, debt consolidation loans, and more. However, you may find there are perks that can only come from working with a direct lender. If you are wondering if a broker like Credible or another financial institution would work best for your financial situation, you’ve come to the right place! 

Here, you will learn about loans like Credible, how they work, what your other options are, and how you can go about finding the right type of loan for you!  

Finding the Right Personal Loan

The personal loan market is extremely saturated with companies and products claiming to be the best thing out there. However, lending is a business, and lenders are looking to make their products seem the most appealing so you go with them over their competition. When looking for a personal loan, it’s important to keep an objective mind and not get swept away by fancy advertising tactics. 

Below are some steps you can take if you want to find the best personal loan companies and products for you. 

Decide What Kind of Process You Are Looking For

Consumers can usually apply for loans online or in person. Applying with online lenders gives consumers the convenience of submitting their application outside of business hours if needed or completing their application in installments on their own time. Applying with a lender in-person, however, gives consumers the opportunity to ask questions and receive guidance/advice right away. 

Familiarize Yourself With Your Credit History

The first step to finding the right personal loan is to check your credit report and credit score. Credit scores are a three-digit number that many lenders use to determine how financially responsible a potential borrower is. You can find out your current credit score by looking at your most recent credit report. Your credit report will also contain other financial information such as your: 

  • Payment history. 
  • Credit mix. 
  • Length of credit history. 
  • Recent hard credit inquiries. 
  • Debt-to-income ratio and credit utilization. 

Some types of personal loans are typically reserved for consumers with fair credit or a higher credit score. For example, some banks or credit unions may immediately reject a loan inquiry if they see the applicant doesn’t have a minimum credit score. Thankfully, there are also more versatile personal loan lenders out there who are willing to extend funding to consumers with poor credit. By being familiar with your current credit report and score, it may become clearer which types of lenders and loan products may work well for you.

Compare Personal Loans and Other Products

As mentioned, it’s important for responsible borrowers to look into multiple lenders and financial products, as well as compare different loan offers. You can do research online or give lenders a call directly and ask them about the kinds of products and services they offer. It may also be a good idea to check out online reviews to see what kind of loan experience other borrowers like you had. When researching lenders and financial products, be sure to inquire about the core elements of a loan, like the terms, rates, fees, potential penalties, etc. 

Create a Financial Plan

Think about what you are planning on using your personal loan funds for and how long you want to carry that debt. If you are planning on taking out a high loan amount, make sure you are prepared to handle your monthly payments. Higher loan amounts typically lead to higher monthly payments, while it’s usually easier to get paired with lower monthly payments when you have a smaller loan. 

It may also be a good idea to establish an overall budget in addition to creating a financial plan for your loan. Your budget should include all your recurring bills and living expenses, such as other loan payments, rent/mortgage payments, groceries, bills, etc. Once you have your core budget mapped out, it should be easier to see how much room you have left over for your monthly loan payments. If you see that your finances are currently tied up in other expenses or bills, you may want to reconsider your loan amount or choose not to apply for additional funding altogether.  

Review Your Existing Debt

Receiving a personal loan will affect your debt-to-income ratio. Your debt-to-income (DTI) ratio is how much debt you have credited to your name compared to how much income you bring in regularly. Generally, it is suggested that consumers keep their debt-to-income ratio at no higher than 35% if possible. If your percentage starts to creep up, say into the 50s, then it may be time to take some serious action. For consumers who have a debt-to-income ratio that is exceptionally high, right now may not be the best time for them to apply for additional debts. Instead, it may be more advantageous to work on lowering credit card balances, loan debt, or other expenses that are threatening their current DTI. 

Gather Your Core Documents

Most personal loans require a few core documents to confirm the information that applicants give on their initial inquiry forms. To help your approval process go as smoothly as possible, it may be a good idea to gather these documents before you submit an application. 

Here are the documents you may want to get together: 

  • Government-issued photo ID (driver’s license, passport, state-issued ID, birth certificate, social security card, military ID, etc.).
  • Proof of residency (utility bill, credit card statement, lease agreement, mortgage statement, etc.). 
  • Proof of income (paystub, employer statement, bank statement, tax statement, etc.).
  • Bank account information (you can locate your bank account and routing numbers by looking at the bottom of one of your checks. Bank routing numbers are nine digits and printed on the bottom left corner of a check. Bank account numbers are ten to twelve digits and printed right after your account number). 

Consider Your Alternatives

Committing to a loan is an important decision that can impact several aspects of your finances. Before you apply for a loan and commit to a hard credit check, consider your other options. If you have a financially stable friend or family member in your life, you may consider asking them for a loan. Getting a loan from trusted friends or family may help you save money on interest rates or monthly payments. However, make sure you have a payback plan agreed upon and established to avoid potential awkwardness or damage to your personal relationships. 

You may also consider getting a temporary part-time job to come up with the funds you need. There are both remote and in-person jobs that could provide you with some extra income, so you don’t have to worry about applying for a loan at all! 

If you don’t have much spare time, you may also consider selling unwanted clothing or items you have around your home. You can have a garage sale or take a completely hands-off approach and list your belongings for sale on websites like eBay, Amazon, Craigslist, or even Facebook marketplace. 

Loans Like Credible: What You Need To Know 

One of the most important things to know about Credible is that they are not a direct lender or credit provider. Essentially, Credible acts as a brokerage service or brokerage company. To connect borrowers to financial products and services, Credible forwards potential borrower loan requests and information to partner lenders. It is then up to each individual lender if they want to accept the loan applicant. Since Credible does not work with every lender available, they cannot guarantee you will receive the best personal loans available. This means that borrowers may be able to find a significantly better deal by researching lenders and financial products on their own. 

Some of the top providers Credible works with are: 

  • Citizens.
  • Lending Club.
  • Loan Depot. 
  • Nbkc Bank.
  • Union Home Mortgage. 
  • Sallie Mae. 
  • Discover. 
  • New American. 
  • Upstart. 
  • Nations Lending. 
  • Allied Mortgage Group.

Through working with third-party lenders and providers, Credible advertises the following products and services: 

Student Loan Refinancing

Collectively, there are approximately 43.5 million individuals who owe an estimated total of $1.635 trillion in federal student loan debt. On an individual level, the average federal student loan balance of a typical undergraduate student is about $37,574. Since so many people aren’t able to afford college/university by paying out of pocket, this leaves a majority of students reliant on student loans in order to receive their education. 

Unfortunately, this dependency has caused lenders to include high-interest rates, hidden fees, and other charges with many student loans. To lessen the cost of these expensive loans, many students choose to consolidate debt from student loans by refinancing after they graduate. Refinancing student loans could help you save money on interest rates and may even aid you in paying off your student debt faster. 

Student Loans

Student loans are a type of financing reserved for people looking to receive further education after earning a high school diploma or GED. Borrowers can use student loans to pay for most education-related expenses. These expenses may include tuition, books, supplies, room and board, or other costs associated with attending college oruniversity. 

The student loans found through Credible would be considered private student loans. Before you apply for private student loans, make sure to seek out your federal student loan options, as well as possible grants and scholarships. With federal student loans and private student loans, borrowers are expected to repay the funds they receive. However, with grants and scholarships, students are not expected to repay the money. 

Personal Loans

Personal loans are one of the most versatile types of funding available because they can be used for just about any financial need. A personal loan can come in many forms, including the following: 

  • Debt consolidation loans. 
  • Home repair loans. 
  • Cash advance loans. 
  • Bad credit loans. 
  • Short-term loans. 
  • Long-term loans. 
  • Unsecured loans. 
  • Secured loans. 

Regarding funding amounts, personal loans typically range anywhere from a few hundred to a few thousand dollars, depending on the product and the lender. Interest rates and loan terms may also vary depending on who you go with for funding. For example, short-term personal loans may only be available with low loan amounts and short repayment terms. Other factors that may influence the funding amount, interest rates, terms, and other aspects of your loan are your credit score, income, and ability to repay your balance. 

Home Loans

A home loan is a type of funding meant specifically for buying a home or  real estate property. When getting a home loan, an appraiser will visit your home/property and assess its equity. Loan amounts are then typically based on that equity. The more value the appraiser finds in your home/property, the higher the loan amount you are likely to receive. Similar to other funding products, lenders take income, credit scores, and ability to repay into consideration when approving applicants for home loan funding. 

You may also secure funding using the equity in your home with home equity loans or home equity lines of credit. A home equity loan is essentially like taking out an additional mortgage, except funds may be used for other expenses besides purchasing a home. A home equity line of credit is also similar to a home equity loan, except borrowers are only charged interest on the amount of funds they use, not their entire credit limit. 

Mortgage Refinancing

Just like many students choose to refinance their student loans over time, homeowners may also choose to refinance their home loans. If you have been working on improving your credit score or increasing your income since you initially purchased your home/property, you may be eligible for lower interest rates or a more convenient monthly payment on your current home loan. 

Keep in mind that a mortgage refinance would be considered a secured loan that uses the equity in your home as collateral. If you miss a certain amount of payments or default on your home loan refinance, you run the risk of losing your home and having to relocate. 


Insurance acts as a financial safety net in the face of several types of accidents. Consumers can put insurance on their homes, cars, valuables, and even on their life. The purpose of insurance is to help pay for damages when accidents happen. For example, car insurance helps you pay for body repairs or mechanical fixes if you are ever in an accident. Home insurance helps you pay off the damage done during a natural disaster, home break-in, or other unfortunate situation. Some of the insurance providers Credible works with are:   

  • Lemonade.
  • Nationwide.
  • Progressive.
  • Travelers.
  • Velocity.
  • US Assure.
  • UPC Insurance.
  • Towerhill Insurance.
  • Swyfft.
  • Stillwater Insurance Group.
  • State Auto Insurance Companies.
  • Security First Insurance.
  • Sagesure.
  • Plymouth Rock.
  • The Philadelphia Contributionship.
  • People’s Trust Insurance Company.
  • Palomar Specialty.
  • Pacific Specialty.
  • Openly.
  • Olympus Insurance.
  • NFS Edge.
  • National Flood Insurance Program.
  • Monarch National.
  • Homeowners of America.
  • Safeco Insurance.
  • Bunker Hill.
  • Encompass.
  • Fednat.
  • Healthy Paws.
  • Pets Best.
  • Pet Plan.
  • Neptune.
  • Lloyd’s.
  • Lighthouse.
  • Jewelers Mutual Group.
  • Hippo.
  • Mercury Insurance.
  • Universal Property.
  • American Integrity. 
  • Aon Edge.
  • ASI.
  • Branch.
  • Clearcover.
  • Edison Insurance Company.
  • Florida Peninsula Insurance Company.
  • Foremost Insurance Group.
  • Heritage Insurance.

Consumers may access Credible’s services in the following states: 

  • Alabama.
  • Alaska.
  • Arizona.
  • Arkansas.
  • California.
  • Colorado.
  • Connecticut.
  • Delaware.
  • District of Columbia.
  • Florida.
  • Georgia.
  • Idaho.
  • Illinois.
  • Indiana.
  • Iowa.
  • Kansas.
  • Kentucky.
  • Louisiana.
  • Maine.
  • Maryland.
  • Massachusetts.
  • Michigan.
  • Minnesota.
  • Mississippi.
  • Missouri.
  • Montana.
  • Nebraska.
  • Nevada.
  • New Hampshire.
  • New Mexico.
  • New Jersey. 
  • North Carolina.
  • North Dakota.
  • Ohio.
  • Oklahoma.
  • Oregon.
  • Rhode Island.
  • Pennsylvania.
  • South Carolina.
  • South Dakota.
  • Tennessee.
  • Texas.
  • Utah. 
  • Vermont.
  • Virginia.
  • Washington.
  • West Virginia.
  • Wisconsin.
  • Wyoming.

How Do Personal Loan Lenders Like Credible Work?

Most loans, including loans found through Credible, are made up of a few core elements. Below are the most impactful factors that can affect your loan experience with Credible, as well as other financial institutions.  

Qualification Standards

Most lenders have different criteria they look for when they approve borrowers for funds. For example, traditional lenders like banks may have a minimum credit score or minimum income requirement. If borrowers don’t meet these surface-level requirements right off the bat, they may face immediate rejection from these traditional lenders. 

Other lenders, like payday lenders, may approve borrowers for funding without even checking their official credit reports. While this may seem convenient, it also puts borrowers at risk of being committed to a loan they cannot afford. 

Asking a trusted friend or family member to act as a cosigner may also increase your chances of approval if you don’t meet a lender’s qualifications on your own. A cosigner is someone with a solid financial background who uses their creditworthiness to support another borrower. Should the original borrower of a loan fail to make their payments, the cosigner would then be financially responsible for paying back the loan until the original borrower assumes responsibility again. 

Application Process

Depending on the type of financial product you’re looking into, you may find there are different steps when it comes to the application process. Some secured loans, like mortgages, may require an appraiser to visit your home or property and assess its equity. The lender will then consider this equity when determining approval, loan amounts, and other components of your loan. This could take days or even weeks to set up, depending on how busy mortgage lenders and appraisers are. 

Other types of funding, like an unsecured personal loan, may just require applicants to fill out a brief online form before lenders can give an approval decision. You may find that you can complete some personal loan applications in just a few minutes or less. 

Collateral Requirements

Another important aspect of your loan will be the collateral required. Secured personal loans typically require collateral to lock down the funding. An unsecured loan, on the other hand, will not require borrowers to use any of their property or belongings as collateral. Some popular types of secured loans are mortgages, home equity loans, home equity lines of credit, or title loans. You may also find unsecured loans in the form of certain personal loans, installment loans, debt consolidation loans, or bad credit loans. 

Repayment Terms

The amount of time it takes to fully repay your loan will be determined by the repayment terms. Potentially, loans with higher funding amounts may require months or even years to repay fully. Loans that come with lower funding amounts may just take a few days or weeks to pay off. 

It may also be possible to adjust the terms of your loan through refinancing. Refinancing is the process of taking an existing loan and rolling it over into a new loan agreement with fresh terms, rates, and potentially an increased funding amount. If you originally received your loan when you had a lower credit score and have since improved it, you may find you are able to get a better deal by refinancing with the same or a different lender. 

Monthly Payments

Your monthly loan payments will be determined by a combination of your terms, funding amount, and interest rates. If you are looking for a high loan amount and low monthly payments, keep in mind that it will take longer to pay off your loan. The more time you take to pay off your loan, the longer it will take for your debt-to-income ratio to recover. However, it is also important to make sure your monthly payments are not so high that you cannot afford them. Lenders don’t want you to default on your loan just as much as you don’t, which is why so many lenders are willing to work with borrowers to make sure monthly payments are manageable. 

Interest Rate/Annual Percentage Rate (APR)

Another crucial aspect of any loan is going to be the interest rates or annual percentage rates. Usually, lower interest rates are reserved for applicants who have a clean credit history and high credit scores. This is because lenders usually see these types of applicants as being a lower lending risk, so they are willing to grant lower rates. Alternatively, applicants who have a shaky credit history or bad credit scores on the lower side may only have high-interest loan options available. In some cases, it may be worth it to hold off on applying for funding until you have improved your credit so you can potentially qualify for lower rates. 

Loan Amount

The type of expense or expenses you want to pay for with your loan will help determine the loan amount you need. If you are looking to cover expensive purchases like home improvements, consolidating credit card debt, or medical expenses, you may be better of with a higher loan amount. However, if you only need to take care of a quick expense like covering a surprise bill, you may be just fine with a low loan amount. 

Loan Funding Turnaround Time

How fast can your lender fund your loan? Some more complicated types of loans, like mortgages, may take weeks or more until borrowers can receive their approved funds. Other kinds of funding, like quick cash loans, may make funding available in just a few hours or less. Depending on the severity of your financial emergency, you may find that funding turnaround time plays a major role in determining what type of loan you go with. 

Fees, Charges, and Potential Penalties

Another important component of your loan will be any fees or additional charges implemented by your lender. Since Credible is not a direct lender themselves, they cannot guarantee your loan will not come with origination fees (a common type of underwriting charge), prepayment penalties (penalty charge for making payments on a loan early), or even balloon payments (large lump sum payments due at the end of the loan term). 

While an origination fee is much more common in loans, it may be possible to find funding that doesn’t come with a prepayment penalty or balloon payment by doing a little research on your own.

Who Are Personal Loans From Credible For?

Typically, people who seek out loans from Credible are known as subprime borrowers. Subprime borrowers are consumers who may have a low credit score, suffer from current or past bankruptcy, or have dealt with other financial struggles. However, since Credible has a limited number of lenders in their network, they cannot guarantee consumers will be connected to the lowest interest rates or best terms available. This means that borrowers may be able to get a better deal just by doing their own research outside of Credible. 

CreditNinja: How Does It Compare?

CreditNinja is a reputable online lender that works to connect qualified consumers to unsecured personal loans, also known as personal installment loans. Usually, people with poor credit or past bankruptcies are stuck with inconvenient and potentially predatory loan options like payday loans. CreditNinja seeks to rectify this by offering installment loans with competitive rates, flexible terms, and inclusive qualification requirements. 

How Does CreditNinja Stand Out?

In the past, low-credit borrowers had to settle for payday loans or title loanswhen they needed funding. A payday loan is a type of short-term funding that almost always comes with high-interest rates, low loan amounts, and short repayment terms. Payday loans are known for putting consumers in a cycle of debt, where the high-interest rates make payday loan balances increasingly difficult to pay off. 

A car title loan is a kind of secured funding where borrowers use their free-and-clear vehicle title as collateral. During the terms of a car title loan, lenders will sign onto the borrower’s vehicle title as a lienholder. Being a lienholder gives lenders the legal right to repossess and possibly impound the vehicles of borrowers who miss payments or default on their loans. Similar to payday loans, title loans also almost always come with low loan amounts, high rates, and brief terms that could put borrowers at risk of falling into a debt cycle. 

Borrowers can ditch the hassles that can come from working with brokers, like Credible, and pick a direct lender who can offer personal loans with great service, competitive rates, flexible loan terms, and inclusive qualification requirements!

Below are some perks borrowers can take advantage of when they choose CreditNinja: 

Streamlined Process

CreditNinja won’t waste your time when applying for a loan. With the streamlined online process, borrowers can apply, submit documents, work with a loan agent, and even receive their approved loan funds from the comfort of their own homes. Furthermore, CreditNinja is known for being fast and efficient, which means you could receive your approved funds the very same day if you apply early! Here is a breakdown of how the process may look: 

  • 1) Apply: To begin the process, head over to the CreditNinja website and fill out the online application form. This application will ask for a few basic pieces of information such as your name, address, desired loan amount, and minimum annual income. After you complete the initial application form you should receive an approval status shortly. 
  • 2) ork With a Loan Agent: After you have been approved, you can submit your core documents. As discussed, these basic documents typically include a government-issued photo ID, proof of residency, proof of income, and your bank account information. An active bank account is necessary so we can deliver your approved funds via direct deposit, which is by far the fastest and most efficient way to receive money. 
  • 3) Sign Your Contract and Get Your Money: Lastly, after your documents have been processed, you will receive a loan contract to sign. Before you sign, however, make sure you read over the terms and conditions carefully. A CreditNinja agent will be happy to address any questions or concerns you have with your loan agreement, should you have any. 

Personalized Service

Some lenders will just connect borrowers with a standard loan deal without taking any extenuating circumstances into consideration. Thankfully, CreditNinja is different. CreditNinja will consider your income, credit score, ability to repay, and other important factors when determining your loan approval. Upon approval, you work with a qualified agent to determine whichterms and rates fit your personal financial situation best. Experienced CreditNinja agents can answer any questions you may have about your loan offer or the approval process. 

Competitive Rates

CreditNinja works hard to provide consumers with industry-wide competitive interest rates. Typically loans come with either fixed or variable interest rates. When loans have fixed interest, this means the rates will stay consistent throughout the life of the loan. Fixed rates allow borrowers to map out exactly how much they will have to contribute toward their loan each month, and how long it will take them to completely pay off their loan balance. 

With variable interest rates, there is more room for fluctuation. When loans have variable interest, this means the rates may go either up or down throughout the life of the loan, depending on current market conditions. Variable interest rates may help borrowers save money some months on interest charges, but they also mean there is a chance of borrowers having to contribute more money towards their monthly payments. 

Flexible Terms

Some loans, like payday loans, come with a strict repayment period that is very difficult for borrowers to adhere to. CreditNinja works to set borrowers up for success by pairing them with terms that are manageable. When your terms and monthly payments work well with your budget, you won’t have to stress about being able to keep up with your monthly loan installments. 

Inclusive Qualification

Everybody deserves financial relief when they’re going through an emergency. CreditNinja won’t immediately reject an application just because a consumer has less-than-perfect credit. In fact, it’s possible to get a personal loan through CreditNinja with a lower credit score or even no credit at all. 

During the approval process, CreditNinja will look at your entire financial history, instead of just focusing on your most recent credit score. Other factors that may increase your chances of approval are having sufficient income or assets to repay your balance. 

Do I Need a Good Credit Score to Work With CreditNinja?

At CreditNinja, we know that not everybody has excellent creditt. If you are on a journey towards improving your credit and financial situation but are in need of emergency cash, CreditNinja may have just what you need. 

There are also steps you can take toward improving your credit while you are paying off your existing loans. Some tips include: 

Making Timely  Monthly Payments

Payment history is one of the most critical factors that determine your overall credit score. Missing just one payment on a loan or bill has the potential to negatively affect your credit reports for up to seven years! If you have had trouble staying on top of your payment history in the past, it may be a good idea to sign up for automatic payments, also known as autopay. With autopay, lenders take your monthly installment directly from your checking account on the due date of your payment. That way, you can have a perfect payment history without having to remember to manually make your payments!

Paying More Than theinimum Monthly Payment

Another great tip for reducing debt and improving credit is to pay more than your minimum monthly payment due. It may also be a good idea to submit extra payments for some months if you can. By contributing more than the minimum amount, you can potentially save money on interest rate charges and pay off your loan sooner than the payoff date listed in your loan agreement! 

Avoiding New Credit Applications

Every time you submit an application for a loan, the lender is going to pull a hard copy of your credit report. Credit bureaus keep track of hard credit inquiries on your credit reports. enders are wary of consumers who submit frequent applications for loans or lines of credit because it signifies financial instability. For the sake of your credit history, try not to submit more than one application for a loan when looking for funding. 

Not Carrying a Credit Card Balance

If possible, try not to carry a balance on credit cards you may have. Not carrying a balance on your credit card will not only help you save money on interest rate charges, but it will also help keep your credit utilization ratio at a healthy percentage. 

Your credit utilization ratio is how much funding you have in available credit compared to how much you are using currently. For example, if you had one credit card with a limit of $2,500 and currently carried a balance of $1,250, your credit utilization would be 50%. Usually, financial experts advise consumers not to let their credit utilization rise above 30%. 

Keeping Financial Accounts Open 

While it may seem like a smart idea to close credit card or other financial accounts when you are trying to clean up your finances, doing so may actually work against you. Since the length of your financial history plays a role in determining your credit score, closing accounts may harm your score if they have been open for several years or longer. Closing financial accounts may have a crucial impact on the decline of your credit if that account was previously the oldest account you had on file. As long as you spend responsibly and keep your credit utilization and DTI in check, you shouldn’t have to cancel credit cards or close other accounts in order to improve a bad credit score

Who Should Pick CreditNinja?

CreditNinja is for anybody going through a financial emergency and looking for a fast and convenient solution. Borrowers all around the United States can turn to CreditNinja when they need quick and efficient personal loans. One of the great things about CreditNinja is that not only do you not have to worry about finding collateral, but you can also receive personalized service to help you get your finances back on track once and for all! 

CreditNinja also offers other free resources and informational blogs where you can learn more about handling your finances, finding the right financial products, and making the most of your financial situation.

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