Credible vs. SoFi Comparison

6.94-35.99%

8.99-15.99%

$1K-$200K

$5K-$100K

• Marketplace

• Direct

• Unsecured Personal Loans
• Fixed-Rate Personal Loans
• Variable-Rate Personal Loans
• Co-singer / Joint loans

• Unsecured Personal Loans

• Credit Card Refinance
• Debt Consolidation
• Home Improvement
• Medical Expenses
• Relocation
• Vacation
• Wedding

• Credit Card Refinance
• Debt Consolidation
• Home Improvement
• Major Purchase
• Medical Expenses
• Relocation
• Vacation
• Wedding

• Great for Comparing Lenders
• Fast and Easy
• Secure 256-bit encryption

• Personal loan application process is easy and only takes a few minutes to complete
• Soft credit check that doesn’t affect your credit score and gives you personalized rates
• Fixed and variable rate loans available ranging from $5,000 to $100,000
• No late or origination fees required
• Excellent customer support team
• Online autopay comes with a discount on interest
• Exclusive benefits for members (ex. networking events and access to financial advisors)
• Unemployment Protection feature comes with a temporary payment pause (up to 12 months)
• No prepayment penalties

• Fees Vary
• Other Variable Info
• Terms are Limited

• May take up to 4 days to receive funds after approval (longer than other online lenders)
• High eligibility requirements (ex. good credit and sufficient income)

4.60-35.99%

$600-$100K

• Marketplace

Min 4.60%

• Simple, streamlined prequalification and application process
• Live customer support (uncommon among loan marketplaces)
• Several other loan types are available

• No official auto purchase or refinancing loans — only personal loans
• Not a direct lender

7.17-8.22%

4.29-4.67%

• Mortgage Purchase
• Mortgage Refinance
• Fixed
• Adjustable
• Home Improvement
• Home Equity Loan
• Home Equity Line of Credit
• FHA
• USDA
• Jumbo

• Mortgage Purchase
• Mortgage Refinance
• Jumbo

• Secure and private loan application process
• Neat layout and easy navigation
• 3-minute application without hard check

• Fast online prequalifications
• Interest rates fall below the national average
• Custom rate with soft credit inquiry

• Limited options for government backed home loans
• Credible doesn’t operate in several large states
• No face-to-face customer support
• Poor after sale services

• Doesn’t offer FHA or USDA loans
• No branch locations (everything happens online or in the app)
• Rate lock not available for all loans

$2K-$500K

$5K-$500K

• Private student loans
• Student loan refinance

• Private student loans
• Student loan refinance

• Can refinance Parent PLUS loans
• Quickly compare multiple lending partners on a single platform
• Get your rate and find out if you qualify with a soft credit pull
• Some lending partners will refinance student loans without a degree

• Student loans have competitive rates and no hidden fees
• Qualified education loans are eligible for refinancing
• Membership benefits and discounts
• Flexible repayment plans and deferment available

• Same interest rate as going directly through lender
• Those with high debt-to-income ratios may find it challenging to find a lender

• Higher eligibility requirements than other student loan lenders (ex. 650 minimum credit score)
• Not all student loans come with a cosigner release option (though you may be able to remove the cosigner by refinancing)

$600

• Great for Comparing Lenders
• Fast and Easy
• Secure 256-bit encryption

• Fees Vary
• Other Variable Info
• Terms are Limited

• Checking
• Savings

• You can earn up to 0.50% APY on your checking account balance
• You can earn up to 4.60% APY on your savings account balance
• No monthly maintenance fees

• SoFi does not have any physical branches
• SoFi Savings is not available in all states