October 17, 2010

Creditable – A Debt-Free Existence

Social networking doesn’t have to be a waste of time. Whereas most other social networking sites focus on connecting users with old friends and helping them find new love connections, Creditable places the emphasis on helping people reach their individual financial goals. The application asks new users to answer a few basic questions about their current credit quandaries and future financial plans, and then connects them with other Creditable users who’ve been through similar situations and can offer guidance and hope.

Although Creditable certainly has a number of social networking features, you’ll quickly discover that it’s much more than just a networking site once you log on. The application lets you track your financial assets by inputting information from your individual accounts and then aggregates that information to present you with a complete financial picture. Depending on your needs, the site will recommend credit cards with better rates, along with information on better ways to reach your savings goals. The application will then connect you with other users who have similar goals, allowing you to receive and offer emotional support to countless other Creditable users.

Because of the sensitive nature of the topics discussed on Creditable, the application makes all accounts completely free and anonymous. The users you connect with on the site will never know your true identity unless you choose to reveal it, allowing you to be as truthful and forthcoming as possible about all of your financial trials and tribulations without fear of real-life repercussions. For people who are struggling with debt and money issues, Creditable is an application that provides an emotional support system along with sound financial advice.

Practical Uses:

  • See how much credit card debt you have when combining all of your accounts
  • Connect with people in similar financial situations
  • Get help finding a credit card with a lower interest rate
  • Set up a saving goal and track your progress along the way

Insider Tips:

  • Apply for a new credit card through the Creditable site
  • Use the community message boards to get answers to your money questions
  • View the number of Creditable users who have been approved and denied for a credit card that week
  • Use the letter generation tool to create notification letters to send to lenders

What we liked:

  • People who are in financial trouble could use a place to share their worries
  • The application allows users to remain completely anonymous
  • Post your financial questions and read what other people think you should do
  • The application offers a number of tools to help people improve their credit scores
  • Users can get help negotiating terms with their credit card companies

What we didn’t like:

  • Making it easy for people with debt problems to apply for more credit cards might not always be a good idea
  • Because Creditable is still in Beta, a number of features within the application don’t yet work


Company Info:

  • Launched: September 2010 (Beta)
  • Privately Held
  • Headquarters: Boulder, Colorado
  • Founded by: Ryan Bales
  • Web site:


  • Free

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