fbpx

The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site.

x

How We Calculate Rating

Ratings on Trusted Company Reviews are given by experts in that particular industry. Our experts monitor the brand closely and then give the brand a rating which you can trust.

Our rating score is based on 10 Points and a Five-Star shown alongside the score to easily understand the rating.

We frequently update the ratings of all brands so that you don’t choose a brand by their old  ratings.

Bestmoney.com Review: Is Bestmoney.com Legit?

Home » Guides & Tips » Bestmoney.com Review: Is Bestmoney.com Legit?

Table of Contents

BestMoney.com reviews are few and far between. The company simply doesn’t have BBB or many other online reviews. Much of the company’s website appears focused on achieving search engine-friendly keyword rankings rather than delivering insights and useful information.

What is Bestmoney.com?

BestMoney.com is an online marketplace for lenders to offer financial products including home insurance, car insurance, online banking, home loans, debt consolidation loans, and more. Though it appears the company is connected to or partnered with the lenders it showcases, BestMoney’s offerings can be thought of as affiliate marketing, where it receives a commission for each loan or financial product obtained by potential borrowers.

As a financial comparison and shopping site that offers users the ability to view loan products from a variety of providers, it has comparison tools for multiple financial products. However, BestMoney is more of an information portal instead of a lender or financial partner. Its services amount to guided referrals, and the company does not directly provide advisory or lending services.

Boasting hundreds of thousands of customers, BestMoney offers a fast prequalification service that it says does not impact the borrower’s credit score. Though, it does not participate in the rate-setting or monthly payments determination process and does not have any influence over a borrower’s approval or denial.

Bestmoney.com Features

BestMoney has a sleek and well-laid-out website that clearly lists its lending partners’ offerings. It’s easy to enter your loan needs and financial situation to find lenders willing to work with your specific circumstances, but the final lending decision comes down to the lender and not BestMoney.

  • Wide network of lending options
  • Potential borrowers can view several lenders at once to compare rates and terms
  • BestMoney is not a lender and earns a commission on each loan sold
  • The company gives a handy overview of each lending partner

Bestmoney.com Reviews: Pros and Cons

Pros

  • Intuitive website
  • Quick prequalification with no credit hit
  • Easy to filter loans by the borrower’s needs and situation

Cons

  • No reviews and limited online presence
  • The company seems more targeted at making money than helping borrowers

Bestmoney.com Financial Rates/Interest/Terms

BestMoney works with external lending partners, so the rates offered to loan applicants are not its own. Below is a summary of the sample rates provided on BestMoney’s site.

Lender Rate Loan Terms Available Minimum Credit Score
Lending Tree 6.99%-35.99% 12-144 months Poor (350)
Quicken Loans 5.4%-35.99% 2-180 months Good (690)
Lightstream 6.94%-25.29% 24-84 months Good (690)

Bestmoney.com Reviews

While there are effectively zero reviews available for the company online, its Facebook page does have a few telling customer opinions. Many reviewers there believe the company is a scam, saying that it suspiciously redirects users to other websites and asks for a large amount of personal information without disclosing where it’s going or how it will be used or handled after the fact. Others struggled with the application process, saying that promises of easy approvals were inaccurate or exaggerated.

Is Bestmoney.com Legit?

BestMoney.com is a legitimate website that works with legitimate lenders to provide financial products to individual consumers. That said, it’s important to remember that it’s only a marketplace for such products and does not manage or offer any loans itself.

Is Bestmoney.com Worth It?

Though our review may seem to indicate otherwise, BestMoney.com can be a good starting point for potential borrowers. Its site is free to use, and it’s easy to compare lenders, so there’s not a significant time investment to browse the site. However, more reputable sites, such as Credible, offer similar features backed by a more trusted name.

Who is Bestmoney.com Best For?

BestMoney.com is best for prospective borrowers unsure of where to begin or of the options available to them. It provides a simple, straightforward comparison tool, and the site makes it easy to filter potential lenders based on the borrower’s credit score and loan needs.

Bestmoney.com Alternatives

There is no shortage of lending comparison and marketplace services online. Here are just a couple of the most popular ones, which can be found in our reviews of the best personal loan providers.

Frequently Asked Questions

Is Bestmoney.com car insurance good?

Can I get a loan with a 500 credit score?

Does getting prequalified hurt my credit score?

About Author

Dr. Ali
After earning an MBA, Chris began writing about tech and finance as part of his work as a bank analyst and consultant. Wanting to pursue his first love in life, Chris jumped ship and turned his focus to the automotive industry, first as a freelance writer for Forbes, J.D. Power, The Drive, and U.S. News & World Report, before starting YourTestDriver.com and the America on the Road Radio Show. Chris brings more than ten years of experience in product reviews, in-depth analyses, and news, and has been recognized as a significant contributor in building the future of the automotive media field.
Dr. Ali

Chris Teague

Last Updated: December 29, 2024

Editorial Reviews

Must Reads

Spot Vs Lemonade Pet Insurance – Which is Best for Your Pet?

Spot Vs Lemonade Pet Insurance Spot and Lemonade Pet Insurance offer pet parents customizable and dependable pet health coverage. Their reimbursement-style policies allow you to take your pet to any veterinarian you choose before you file a claim, ensuring your pet...

Lemonade Vs Embrace Pet Insurance – Which Is Best?

Lemonade vs Embrace Pet Insurance We understand how complex the pet insurance shopping process can be. There are numerous providers to choose from and a wide range of options to consider. That’s why we have developed our series of detailed reviews of the Top Pet...

Fetch Vs Lemonade Pet Insurance – Best One for Your Pet?

Fetch Vs Lemonade Pet Insurance Fetch and Lemonade Pet Insurance both offer outstanding coverage and are among the best pet insurance companies available. However, while there are similarities in their policies, each has features that distinguish it from the other....

Can You Change Your Mortgage Lender?

Changing your mortgage lender might sound complicated, but it’s a topic you might need to know about. It's actually not all that uncommon. In fact, knowing when and how to switch mortgage lenders can help you save money, reduce frustration, and secure better loan...

Can You Take Equity Out of Your Home Without Refinancing?

Can you take equity out of your home without refinancing? You can. In fact, several financing options exist that let you tap into your home’s value while keeping your existing mortgage and its interest rate and terms right where they are. Whether you need funds for...

Lemonade Vs State Farm Renters Insurance

Lemonade Vs State Farm Renters Insurance Choosing between Lemonade and State Farm comes down to priorities. If you want rock-bottom pricing and lightning-fast digital claims, Lemonade leads the pack. If you prefer face-to-face service and long-term brand recognition,...

Should I Get Pet Insurance? What It Is and How It Works

Should I get pet insurance? Your pet isn’t just an animal. In most cases, they are part of your family. You love them in every way possible, from belly scratches to the best pet food. Yet, a recent study by Empower found that 37% of Americans don’t have enough...

Do You Need Renters Insurance? Your Top 10 Questions Answered

Do you need renters insurance? Probably, but not because the law requires it. Renters insurance often feels like one of those optional extras, especially when you're focused on putting together your deposit, moving in, and settling down. But skipping it can leave you...

Student Loan Refinance Calculator

If you're stuck with high interest rates or managing multiple payments each month, refinancing your student loan could be a smart move. This student loan refinancing calculator helps you quickly determine how your current loan setup compares to current refinancing...

Do I Need ID Theft Protection?

Do I need ID theft protection? It’s a fair question, and one that’s more relevant than ever. The Federal Trade Commission recently reported that consumers lost $12.5 billion to fraud and scams last year. That's not a small number. In a world where our personal...