If you have student loans or considering applying for a student loan, there is a way to earn airline miles for financing or refinancing student loan. United Airlines has teamed up with Credible that offers United Airlines Frequent Flyer miles for financing or refinancing student loan.
How many miles you get for finance/refinance from Credible
The miles awarded are based on the loan amount financed or refinanced, the maximum miles that you can earn is 20,000 United Airline miles for financing or refinancing student loan of more than $100,000.
How much Interest rate Credible Charges
Credible website shows they charge a variable interest rate as low as 2.06% and a fixed rate of 3.99%
The above interest rate is based on someone with an excellent credit history, and it may be higher for someone with average or poor credit history.
The website does not have information how much loan origination fee the lender will charge for financing or refinancing the student loan.
How to Apply for Loan through Credible
To apply for the loan you need to use a special link set up through United.com website or use the following link to apply for the loan. When you apply for the student loan finance or refinance Credible will pass the information to various lenders and match the best/lowest interest rate available based on your credit history. Upon approval, the lender will finance or re-finance the student loan.
Is it worth
As long as you save money on the lower interest rate, you can consider applying for the student loan finance or refinance through “Credible” to get the United Airline Miles. If you are already receiving a better rate with your current lender, it is better to stick with the current lender.