ComplaintsforCredible.com

• Initial Complaint

  10/28/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Communications have completely broken down regarding a refund I am owed. I have sent probably five or six follow-up emails over a period of several months to the person I was communicating with and they have completely neglected to respond. I am owed hundreds if not thousands of dollars in a refund due to their own negligence and I am thinking of taking legal action if they do not communicate and send me my money.

  

  Business response

  11/21/2023

  Thank you for sharing your complaint with us. Your complaint states that you obtained an insurance policy through Credible **************** which was subsequently canceled. The cost of the policy was $711.70, and you did not receive notice of the cancellation or a refund when the policy was canceled. Your mortgage lender found out about the cancellation several months later and placed an insurance policy for you retroactively and charged you insurance premiums totaling $1,310.30.

  Our records and the insurance carriers records show that the carrier sent a cancellation notice and refund check for $711.70 in the mail on or about June 24, 2022. However, it appears to have gone to an incorrect address. 
  We requested that the insurance carrier reissue the refund check for $711.70, and their records show it was reissued on 11/6/2023, but we have not been able to confirm that it has been delivered and cashed. We will send you a check for $1,310.30 to reimburse you for the cost of the force-placed insurance.

• Initial Complaint

  09/21/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  The description of my problem is an almost exact duplicate of the last complaint, filed by someone else. I was considering applying for a personal loan to buy a Mobile Home. I was just looking around trying to decide where I should apply. My bank had pretty good terms, but the repayment period was short making the payments pretty high, so I was checking Credible, basically looking at different loan amounts, length of time to pay back the loan and interest rates. Credible's offers were really not good due to the interest rates, I think, and also they wanted security for a personal loan. For a secured loan the rates would be a lot lower and actually my banks interest rate was also a lot lower. Well I basically looked at the same company 3 different times using different loan amounts just to see what the payments might be. I didn't apply for any loan, with this company. The company, by the way was PENFED ************ and it has hundreds of BBB complaints and is not BBB accredited. Well as a result of just look at loan information very briefly and not applying for anything, I received 3 loan rejection letters. One was dated September 12 and 2 were dated September 13. They each had different loan application numbers on them. I called PENFED and they said that I had somehow applied for a loan through Credible. I said that I never applied for any loan, but according to them, whatever I did, clicking and looking at the information was the same as applying for a loan. All I wanted them to do was to remove these supposed loan applications from being reported on my credit report and they said there was nothing they could do. They basically said that this thing was my fault. I will file a complaint against PENFED, also. I have really good credit, but I am sure that having it look like I filed for 3 different personal loans in the space of a couple of days will impact my creditworthiness. I would also like to be entirely removed from Credible's dangerous site.

  

  Business response

  09/22/2023

  Hi ********,

  
  Thank you for taking the time to tell us about your experience.

  
  Credible is an online marketplace that allows users to view pre-qualified rates through our lender partners for different products, such as personal loans, student loans, and student loan refinancing. When you create a pre-qualification request on our personal loans marketplace, you authorize Credible to share your information with its lender partners participating in the Credible personal loans marketplace and for Credible and those lender partners to perform soft credit pulls that will not impact your credit score. A soft credit pull involves obtaining your credit score and profile, including existing credit accounts, balances, etc.

  
  Our records indicate that you came to our site on September 12th and 13th, and filled out three personal loan pre-qualification forms. You received pre-qualified results, but did not choose any particular lender to move forward with.

  
  Some of the lender partners we work with treat these prequalification requests as applications and, if they are not able to find any offers for you, they email or even mail notices to you called adverse action notices or statements of denial. However, this does not mean that the lender partners are continuing to check your credit to try to qualify you for a loan it all relates to your initial prequalification request and soft credit pull. Because creditors by law have some time to send these notices, it is not uncommon for mailed notices to continue arriving for about a month after the initial prequalification request. Most of the lender partners Credible works with identify the request by date, which should help you determine whether the notices you are receiving relate to your initial request on Credible.

  
  To be clear, these applications, if they relate to your Credible prequalification request will show up as soft credit pulls on your credit report, not as hard pulls, and should have no impact on your credit score.

  
  Further, because you are concerned about your credit, we want to add that you have a right to view a free copy of your credit report at ******************************. You should see any inquiries resulting from a prequalification request on Credible in a separate section for soft inquiries that do not affect your credit rating.

  
  At Credible, we strive to exceed customer expectations and make the process quick and easy. If you have any questions or anything else you'd like to share with us, we can be reached by email at ********************************** and by phone at ************, Monday through Thursday 9am - 9pm ET, Friday 9am - 7pm ET, and Saturday 10am - 6pm ET.

• Initial Complaint

  07/07/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I went online to check for personal loan rates, I used credible.com and I was able to see the rates that I would get if I were to apply for a loan without any issues, a couple of weeks later I started receiving rejection letters from lenders, when I called they all told me the same thing, the loan applications were done through Credible under my name. My credit was checked multiple times and affected because Credible for some reason applied for loans without my approval. Im in the process now of reporting them for fraud.

  

  Business response

  07/11/2023

  ****,

  When you create a pre-qualification request on the Credible Personal Loans Marketplace, you authorize Credible and the lender partners participating in our Personal Loans Marketplace to perform a soft credit pull that will not impact your credit score. A soft credit pull involves obtaining your credit score and credit profile, including existing credit accounts, balances, etc. Credible and its lender partners use the information you provide, along with information from the soft credit pull, to show prequalified rates back to you. However, some of the participating lender partners are not able to return rates back to you, and some of those lender partners choose to treat your prequalification request as an application and send you whats called an adverse action notice or denial letter. That is what you are receiving, and that is what the lender partners mean when they say they received your application through Credible. No applications using your information occurred through Credible only the original, single prequalification request you authorized Credible and its lender partners to perform.
  You may verify that the soft credit pull did not impact your credit score by obtaining a free copy of your credit report at Annual Credit Report.com - Home Page .
  We have terminated the account as requested. Because you are a ********** resident you may also submit a CCPA request as outlined in our California Consumer Privacy Act Notice. You may submit the request by calling us at ************ or using this webform. Links to Credibles Terms of Use and Privacy Policy can be found at the bottom of any Credible.com page.
  If you have any questions or issues, please don't hesitate to reach out. Our number and hours of operation can be found in my signature below for your convenience.
  Regards,
  -Credible

• Initial Complaint

  06/20/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I applied for a loan and gotten approved for ***,*** amount.It orginaly said "Expect a response by: ***, June 9th".No response.It then said "Expect a response by: Wed, June 14th".No response.It then said "Expect a response by: ***, June 19th".No response.It now says "Expect a response by: Mon, June 21st".It is 6/20 when I am writing this, I do not think they will going to respond.Why? The have never responded the 1st 3 times.Without the loan, I am dead in the water.I did sent the company an email, they have not responded. To be fair, it has been 2 days.

  

  Business response

  06/22/2023

  Hello ******, 

  
  First, thank you for sharing your experience. We appreciate feedback from our users, and that feedback is an invaluable tool for improving our customer service. It looks like you received rates and moved forward with an option through Credible.com in early June. Unfortunately, due to a technical issue, we were unable to move your request to the lenders site until June 20th

  
  Please accept our apologies for the delay, you should now be able to move forward with the application. If you would like assistance with completing that step, or we can ever assist you, we can be reached at ************, Monday through Thursday 9AM - 9PM ET, Friday 9AM - 7PM ET, and Saturday 10AM - 6PM ET.
  

  Warm Regards,
  -Credible
  

  
  

  Customer response

  06/22/2023

   
  Complaint: 20210550
  
  I am rejecting this response because:

  
  

  Yes, it is fixed.

  The stuff I had requested in the email has not been done yet.

  
  
  Sincerely,
  
  ***********************

  

  Business response

  06/23/2023

  Hi ******,

  In our system, the only result of your email address that can be found is the original email sent, along with the agent's response (screenshot attached). I apologize if any additional communication got lost in transit. What more can we help you with? I look forward to your replay.

  All the best,

  -Credible

  Customer response

  06/26/2023

   
  Complaint: 20210550
  
  I am rejecting this response because:

  
  

  That email that you and I was talking about, you have to highlight the section between the last sentence and my contact info for in order to see it.

  
  
  Sincerely,
  
  ***********************

  

  Business response

  06/27/2023

  The consumer reached out to Credible and stated he would like a response because Without the loan, I am dead in the water. Between this statement and his email signature line, the consumer added a statement in white font, which was unreadable without selecting (highlighting) it, stating that if he did not receive a response by a specific date and time I expect Crediable will give me a instrest free at $200,000, I ([name redacted]) dont have to pay it back and the loan will be wipe from my records.

  The consumer acknowledges that Credible has resolved the issue that originally led to this complaint but rejects Credibles response to this complaint on the grounds that Credible has not done everything he requested in his original email to Credible. We believe this rejection relates to the invisible ink statement that he expects a $200,000 cash payment described above. Credible believes it has provided a wholly satisfactory, appropriate, and complete resolution and will take no action on the consumers request for cash. Credible declines and rejects the consumers request for a gratuitous cash distribution. However, if the consumer would like to move forward with a loan request on the rates and terms offered by one of the lender partners Credible works with, we are happy to assist him with doing so.

• Initial Complaint

  06/08/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I purchased homeowners insurance through Credible (then ***********************) in June of 2022. The policy was canceled in July of 2022 and Credible did not notify me until May of 2023 (in an email that looked fake due to grammatical errors). I was never contacted previous to this. This is completely unacceptable and unethical to me. I have been paying my mortgage company for the insurance this entire time, and my policy was listed on my mortgage company's website, so I believe they were not aware of the cancellation either until recently. I cannot get anyone from Credible on the phone and they won't answer my emails. Now I have to pay money to my mortgage company for the time I was "uninsured." I believe Credible should at the very least be liable for this money.

  

  Business response

  06/21/2023

  We are in active communication with the consumer and will be able to provide a comprehensive response after working through a resolution with the consumer.

• Initial Complaint

  05/27/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I provided all my personal information for an installment loan, and while waiting to be connected for the approval it stated that The site was having connection issues it makes no sense cause all my internet connection was working fine. Im worried cause it did that after taking all my personal information.

  

  Business response

  06/09/2023

  Hello ******, 

  
  Our records indicate that you visited Credible on 5/27 and searched for Personal Loan offers. Unfortunately, we were unable to identify prequalified options through the lender partners we work with.

  You have requested that we delete all information associated with your account. We are forwarding this request to our compliance department to process as a request under your states laws. They may reach out to you requesting information to confirm your identity. So you know, as a financial institution, we are required by state and federal law to retain certain information about your request. Finally, we have terminated and locked your Credible account. The security of our users' information is our utmost priority so I have made sure to escalate this complaint within our management and compliance teams.
  

  Warm Regards,
  -Credible

• Initial Complaint

  05/22/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Credible is my insurance agent and they sold me an insurance policy through ********************* on 5/15/23, State Auo sent me a notice of renewal, but then on 5/18/23 they sent me a notice of NON-renewal. They stated that the value of the home was worth less than 40% of the cost to rebuild the home, which is not correct. The value of the home is about $350,000 and the cost to rebuild the home would be about $350,000. Hence the value of the insurance policy that I have been paying for for a year was $350,000. State Auto made NO attempts to appraise the value of the property inside or out. They illegally canceled my policy. When I responded to the emal that Credible sent me, as my agent, they stated that they couldn't do anything becuase they "are just my agent". They letter was VERY simple and it stated that if there was any error in the letter to contact my agent....which is exactly what I did. But instead of fixing the problem or looking into it at all, they simply did nothing and told me to contact State Auto. Obviously I have already done that. I want Credible to do their job and fix the issue....which is exactly what the letter that they sent me stated, which shows they didn't even bother to read what they sent me. My policy is illegally be cancled, I have had ZERO claims with State Auto. And when/if the policy is renewed, Im 100% sure they'll increase the rate of the policy as retribution.

  

  Business response

  06/02/2023

  The complaint alleges State Auto is wrongfully non-renewing the consumer's homeowner's insurance policy. State Auto implemented a policy to double check the value of the home covered by homeowner's insurance policies as part of the renewal process. Generally they rely on a third party vendor to perform this valuation. State Auto's third party vendor, relying on public records, determined that the value of the property is significantly below the replacement cost value of the property. Based on this, they sent a non-renewal notice and provided the consumer with an opportunity to contest the value by obtaining an appraisal. Upon receiving the notice of non-renewal issued by State Auto, Credible initiated contact with the consumer and advised them of their opportunity to contest the valuation by obtaining an appraisal.
  
  As an insurance agent, Credible is not able to contest or alter insurance carriers' underwriting requirements. Credible can work with the insured to try and meet those requirements. Credible did so here, and the consumer does not want to pursue that route by obtaining an appraisal (or, at least, does not want to pay for that appraisal). Credible also attempted to assist the consumer in procuring alternative coverage through a different insurance carrier, but that application was rejected for other reasons. We believe we have done everything in our power to resolve this complaint to the consumer's benefit.

  Customer response

  06/02/2023

   
  Complaint: 20086820
  
  I am rejecting this response because:  Credilble's response here only proves they are not doing the job that they were paid to do, and are therefore committing fraud.  They stated they hired a 3rd party to value the property, but that was not done.  Using a city's tax appraisal is NOT a valid estimate of a homes current value.  The city's estimate is over 10 years out of date, and NUMEROUS updates have been made to the property that the city isn't even aware of and therefore would not be included in their valuation.

  If Credible and/or State Auto needs to do an appraisal, that's fine, but they cannot legally require me to do that estimate.  That is not my job.  They cannot force me to do something that is part of their job to properly insure a property.  Also, this does not explain how the property has now been insured for a year and the FULL ESTIMATED VALUE of $350,000, and billed me as such, but then the value was just lowered, without a justifiable cause to $70,000.  

  This is obviously an error on Credible's and State Auto's end, and neither of them is willing to fix the issue at all.  They are illegally canceling my insurance policy for an error on their end, and this will greatly effect my insurance rates with other carriers, as they have stated in their own response....thei other carriers won't even insure the property at all, partially because of this very error.  They need to fix this problem immediately, or they will be sued.

  
  Sincerely,
  
  *****************************

• Initial Complaint

  01/04/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Refinanced my loans through Credible referred by the White **** investor site on 11/15 with a referral bonus of $500. Completed the refinance through Penfed/Purefy with old loan paid off on 12/17 at Firstmark/Common Bond and new loan setup at Penfed. I inquired on 12/21 when I would receive the referall bonus. A Credible employee named "*******" requested screenshots of old loan paid off and the new loan at Penfed. I sent the required items with no response back. I asked for followup on 12/28 with again no response to date. This is unacceptable. I want the referal bonus to paid asap. I also want my complaint to be public and searchable as this is one of the most disreputable student loan refinance companies I had the misfortune of refinancing my loans.

  

  Business response

  01/06/2022

  Hi, **** -
  

  First, thank you for sharing your experience. We appreciate feedback from our users, and that feedback is an invaluable tool for improving our customer service. While ********************** attempts to provide an excellent experience to all of its customers, we failed to do so here. We have been able to expedite the referral bonus payment and are taking all appropriate measures to ensure that a similar situation doesnt occur again.

  If there's anything else you'd like us to know we can be reached by email at [email protected] and by phone at ************, Monday through Thursday 6am - 6pm PT, Friday 6am - 4pm PT, and Saturday-Sunday 7am - 4pm PT.

  
  Tell us why here...

• Initial Complaint

  07/16/2021

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  This company offers a referral bonus to customers that refer others to refinance with them. I referred a friend and am eligible for a $500 referral bonus. My friend is eligible for $200. We have given all of the necessary information. We have been told continuously that the bonus would be paid within 30 days of my friends loan closing. It has now well surpassed that time and still no bonus. We have been emailing and speaking with reps on the phone who assured us it would be delivered no later than 7/15. Here we are, 7/16 and still nothing. We have completed all requirements they have asked for. We have followed up several times. We are told every time to be patient and it's in process. It is all lies. They have no intention of paying the bonus that they email me offering at least 3 times a week.

  

  Business response

  07/27/2021

  Thank you for escalating this issue with us. The consumer was entitled to the requested bonus payment, and it was in process when the consumer submitted their complaint to the BBB. We provided the consumer with the bonus on July 19, 2021 and sent the consumer notice. After a review of the communications record, we believe some members of our staff miscommunicated the processing timelines for bonus payments, and the payment did take somewhat longer than usual to process. We are reviewing to determine a root cause for the delay in payment processing.

   

  Thanks,
  Credible Team

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩