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Best Egg Debt Consolidation Review

Home » Finance » Best Egg Debt Consolidation Review

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Best Egg is an online lending company that provides debt consolidation, personal loans, and other financial services. The company began in 2014 and operates in 47 states. Best Egg reviews reveal high average rating scores, including 4.6 stars from Trustpilot and an A+ grade with a 4.87 score from the Better Business Bureau.

The company partners with two banks for its debt consolidation and personal loan business. Cross River Bank is a New Jersey State commercial bank, and Blue Ridge Bank is a nationally chartered bank.

Best Egg allows potential customers to understand their approval odds without affecting their credit scores. The company’s online pre-qualification step draws only a soft inquiry on your credit report—not changing the score—and returns information about your debt consolidation or borrowing ability and interest rate information before formally applying for consolidation.

best egg debt consolidation reviews image

Review Best Egg Debt Consolidation Loan Rates & Get Prequalified Loan Offers Today


  • Highly rated company

  • A+ grade at the BBB

  • Qualifying won’t affect credit score

  • No prepayment fees

  • Payments directly to lenders available

  • Direct lending company


  • Limited loan-length terms

  • Fair credit score or higher required

  • Origination fee applies

  • Not available in every state

Best Egg Debt Consolidation Features and Benefits

While many online lending platforms offer borrowing and debt consolidation loans from numerous institutions, Best Egg uses two banks to provide the services. However, Best Egg still offers pre-qualification benefits without affecting your credit score.
  • Highly rated company
  • Amounts from $2,000 to $50,000
  • Pre-qualifying won’t affect credit score
  • Direct lender pay available
  • Repayment terms from 36 to 60 months
  • Interest rates from 8.99% – 35.99%
  • Origination fees from  0.99% – 8.99%
  • Best for fair credit scores and higher
  • Also offers personal loans and other financial services
  • Co-signers not allowed
  • Credit scores over 700 get best rates


Best Egg Review Editorial Rating

Trusted Company Reviews Rating Score for Best Egg: 7.1


Our best debt consolidation companies review highlights our top picks in the industry. While Best Egg fell just short of our top five list, the company still rates well due to its high customer satisfaction ratings and reviews.


Best Egg lost a few points in our rating system because of its slightly elevated lowest interest rate availability, the existence of origination fees, minimum credit score requirements, and limited repayment terms.


Best Egg Debt Consolidation Facts

Best Egg partners with two lending institutions. However, its website operates similarly to online lending marketplaces that offer funding from numerous sources. Prequalification for Best Egg debt consolidation requires potential borrowers to input personal and financial information online. Best Egg will then determine the borrower’s creditworthiness and return offers if they qualify.


Best Egg offers repayment terms of 36 to 60 months, a maximum interest rate of 35.99%, and loan amounts of up to $50,000. Minimum loan amounts are $2,000 in most states. However, Massachusetts, Ohio, and Georgia require higher minimum amounts. Best Egg customers can have up to two simultaneous loans from the company, assuming the combined total balance is below $100,000.


Interest Rates 8.99% – 35.99%
Origination Fee 0.99% – 8.99%
Loan Terms 36 – 60 months
Minimum Credit Score 640
Loan Amounts $2,000 – $50,000
BBB Rating 4.87 / A+


Best Egg Interest Rates

Typical unsecured debt consolidation loan interest rates range from roughly 6% to 35.99%. Best Egg debt consolidation loans start at 8.99% APR, meaning they start somewhat higher than some lending companies.


Best Egg considers several factors when determining interest rates for debt consolidation. Credit score and history, income, debt obligations, financed amount, and other indicators may all be considerations.


Best Egg approval odds are generally best for those with credit scores above 640. The best rates and terms are available for those with scores topping 700 with an income exceeding $100,000 annually.


How to Get a Best Egg Debt Consolidation Loan

Applying for a Best Egg debt consolidation loan is straightforward on the company’s website. Consumers can input their personal and financial information into the site without initially providing proof of statements. Best Egg will return information stating the consumer’s borrowing or consolidating offers if they qualify.


The customer can now formally apply for an offer and will be asked to provide documentation or proof of the statements made in the pre-qualification step. Best Egg will then perform a hard inquiry on the customer’s credit report, consider the documentation, and return an approval or denial decision.


If accepted for debt consolidation, Best Egg will deposit the funds into the customer’s account or pay lenders directly, depending on the conditions of your consolidation loan and preference.


Does Best Egg Lend Money?

Best Egg acts as both the interface between customer and lender through its website and the lender itself through its affiliation with Cross River Bank and Blue Ridge Bank—Both Member FDIC, Equal Housing Lenders. Upon final approval, Best Egg can fund debt consolidation within three business days in most cases—Normal funding time is between one and four days.


Approval and Acceptance

Pre-qualifying with Best Egg only provides offers for application and doesn’t guarantee final acceptance. There may be more than one offer if pre-qualified. The company will make an initial soft inquiry on your credit report and consider your other information after you supply it without proof. Best Egg makes an educated guess about your ability to meet the contract terms and make an offer contingent on final proof, documentation, and a hard credit inquiry.


It’s possible that Best Egg will make a consolidation loan offer only to deny final approval. However, this situation is rare for customers who supply honest and accurate information during the pre-qualification step.


Best Egg Debt Consolidation Loan Requirements

While Best Egg doesn’t forbid those with poor credit from applying for debt consolidation through the company, it does state that consumers with credit scores above 640 will have the best chances for approval. The minimum requirements for approval include the following criteria.


  • DTI of 40% or lower – higher if including home mortgage
  • 60 minimum credit score
  • 18 years of age or older
  •  Proof of income
  • 2-year minimum credit history
  • U.S. citizenship
  • Banking information

Fair Credit? Check Best Egg Loan Requirements vs. Other Top-Rated Lenders

Lender Fixed (APR) Loan Amounts
Minimum Credit Score
Upstart Personal Loan 6.40% to 35.99% $1,000 to $50,000 620
LightStream Personal Loan 7.49% to 25.49% $5,000 to $100,000 700
Discover Debt Consolidation Loan 7.99% to 24.99% $2,500 to $40,000 660
PenFed Credit Union 8.49% to 17.99% $600 to $50,000 700
Upgrade Personal Loan 8.49% to $35.99% $1,000 to $50,000 600
Sofi Personal Loan 8.99% to 25.81% $50,000 to $100,000
Does Not Disclose
Best Egg Personal Loan 8.99% to 35.99% $20,000 to $50,000 600
LendingClub Debt Consolidation 9.57% to 35.99% $1,000 to $40,000 660
Avant Personal Loan 9.95% to 35.99% $20,000 to $35,000 550
Universal Credit Personal Loan 11.69% to 35.99% $1,000 to $50,000 560
OneMain Financial Personal Loan 18% to 35.99% $1,500 to $20,000
Does Not Disclose
Happy Money 11.72% to 24.67% $3,000 to $40,000 640


How Does Best Egg Make Money?

Best Egg is an online lending platform and a lender. The company makes money from origination and other fees and interest rates charged to borrowers.


Best Egg Reviews

Best Egg reviews from customers and professionals are consistently high across multiple ratings and review platforms. Nearly 8,500 reviews at Trustpilot award the company an average of 4.6/5 stars, with less than 7% of reviews rating Best Egg at three stars or below. Nearly 90% of reviewers give it five stars.


Best Egg Reviews BBB

At the Better Business Bureau, Best Egg enjoys a 4.87/5 rating and carries an A+ grade. The rating score is based on just under 2,500 reviews. The BBB assigns grades to individual companies and company offices, if more than one, based on the company’s ability to address customer complaints as evidenced by its history with the Bureau.


Is Best Egg Worth It?

Best Egg debt consolidation may be worth it if your financial circumstances warrant taking the step and your credit score is 640 or above. The company’s requirements are a bit more stringent than some online lending platforms. Where some lending sites assure borrowers with low credit scores that approval is possible, Best Egg states that consumers with scores below 640 are less likely to qualify.


Best Egg debt consolidation may not be worth it for consumers with less than fair credit. While approval may be possible with poor credit, shopping around for a better interest rate or terms is likely to prove more effective. However, for those with fair credit and above, the company may offer an excellent option for consolidating debt.


Consumers seeking debt consolidation with credit scores above 700 are likely to enjoy Best Egg’s best interest rates and terms.


Best Egg Vs. Upstart

Best Egg and Upstart are very different companies despite some outer appearances. Upstart is an online lending marketplace that partners with numerous lending institutions to provide a range of options for borrowers and those looking to consolidate debt.


Best Egg is also an online lending company. However, that’s mostly where the similarities end.—Best Egg partners with just two lending banks for its debt consolidation and personal loans.


Both companies offer an initial pre-qualification step that can tell borrowers their projected interest rate and terms. However, Our Upstart review reveals that its site may return offer results from multiple lending companies, compared to Best Egg’s offers from a couple of lenders.


Upstart may generally appeal more to consumers looking to consolidate debt who have lower credit scores or shorter credit histories—Upstart requires a credit score of just 300 to potentially qualify, while Best Egg states that those with lower scores aren’t likely to be approved.


Feature Best Egg Upstart
BBB Grade / Rating 4.87 / A+ 1.24 / A+
Average Reviews Rating 4.8 3.4
Interest Rates 8.99% – 35.99% 5.39% – 35.99%
Origination Fee 0.99% – 8.99% 0% – 12% Varies by Lender
Loan Terms 36 to 60 months 36 to 60 months
Minimum Credit Score 640 300
Loan Amount $2,000 to $50,000 $1,000 to $50,000
Joint Applicants Accepted No No
Mobile App Available No Yes

Best Egg Credit Card

Best Egg offers multiple financial services. Beyond personal loans and debt consolidation, the company also offers its Best Egg Credit Card, designed to help build credit and provide unexpected features and benefits.

Cash-back rewards credit cards with no annual fee and no international transaction fees aren’t the norm in the world of credit-building credit cards. While the card is relatively new on the market, Best Egg credit card reviews are coming in, and the customer responses are mostly positive.

Best Egg Credit Visa Credit Card Features and Benefits

  • 6 to 12 months 0% introductory APR
  • Earn 1% cash-back on purchases
  • Earn cash-back for participating in the Best Egg Community
  • No annual fee
  • No foreign transaction fee
  • Fixed interest rate
  • Interest rates from 18.99% to 29.99%
  • Starting credit limits of up to $3,000
  • Requires 650 or higher credit score for approval
  • Bankruptcy on record okay for some approvals
  • Automatic credit limit increases if eligible
  • Low minimum payment requirement
  • Powerful mobile app available for managing card
  • 0% fraud liability

Best Egg Credit Card Pros and Cons


  • Doesn’t affect credit score if not approved
  • Can help improve credit score
  • Regular credit limit increases if eligible
  • Reports to all three major credit bureaus
  • No annual fee
  • No overlimit fees
  • Mobile app access with numerous features


  • Balance transfers unavailable
  • Credit increases are automatic and can’t be requested
  • High late payment fee of $39
  • Approval requires a 650 or above credit score

Best Egg Credit Card Rewards

Not every credit card designed for customers with fair-to-average credit features a rewards program. The Best Egg credit card not only carries a cash-back rewards system but also offers two ways to redeem your rewards.

The Best Egg Credit Card provides a base reward of 1% on gas and grocery purchases, or $1 per $100 spent, and up to 1.5% on payments. Customers can also earn points toward their rewards total by participating in the online Best Egg Community.

The Community is a forum the company uses to engage with its customers and learn how to improve its financial product offerings directly from clients.

How to Redeem Best Egg Credit Card Rewards

There are two ways to redeem your Best Egg credit card rewards. Redemptions have a minimum requirement of $20. One method of realizing rewards benefits is to have a statement credit in the amount of rewards dollars earned. The other is to combine one to three recent purchases, adding up to the amount of your reward, and reimburse yourself the funds.

Best Egg Credit Card Reviews

Best Egg only began offering its credit card to help consumers build their credit in 2021. It’s quite early to rely heavily on long-term reviews. However, the early reports from its customers are that they generally like the program.

Best Egg as a company receives high marks among consumers and experts alike, and its credit card also receives mostly high marks, ranging on average from 4.6 to 4.9 of 5 stars. However,  a handful of negative ones also exist. The negative reviews stem from what appears to be mistakes committed by Best Egg in providing accurate reporting to credit bureaus.

Best Egg Credit Card Application

To apply for the Best Egg Credit Card, customers can navigate to the Credit Card dropdown menu on the company’s website. From there, applicants can input financial and personal information. Best Egg will evaluate the information and return an approval or denial response within minutes.

Perhaps the best feature of the Best Egg credit card application process is that the company only performs a soft inquiry on credit reports to determine eligibility. Even after formally applying for the card, customers who don’t qualify won’t see a hard inquiry on their credit reports, nor will the denial affect their credit score. Best Egg credit card applicants who receive an offer for the card will incur a hard inquiry on their reports.

Best Egg Credit Card Pre-Approval

Best Egg doesn’t provide pre-approvals for its card. However, some consumers may see advertisements stating they’re pre-qualified or pre-selected. These advertisements are simply invitations to apply for the Best Egg Credit Card and don’t equal promises of card approval.

Best Egg Credit Card Interest Rates

Interest rates for the Best Egg Credit Card range from 18.99% to 29.99%, which is in the average range for credit cards that cater to fair and good credit score holders. Best Egg doesn’t offer variable interest rates on its card. Customers will have a fixed rate for all card purchases, which is determined after formally applying for the card.

The interest rate awarded to each customer depends on their credit score, history, DTI, and other financial data.

Best Egg Credit Card Credit Limit

Reports from consumers are that Best Egg provides practical initial credit limits that can reach $3,000 for some. However, most customers will experience starting limits lower than that.

However, the Best Egg Credit Card initial credit limit is subject to automatic review after six months of card membership, which can result in an automatic credit limit increase for some accounts in good standing. Best Egg currently offers no provisions for requesting a credit limit increase at any time.

Best Egg Credit Card App

Best Egg offers a helpful and practical mobile app for managing your credit card account with the company. The app is available for iOS and Android devices free from Google Play or the App Store.

Consumers must activate their Best Egg Credit Card through the app upon receiving it. From there, the app allows card members to check their balance, make payments, manage and redeem their cash-back incentives, see and interact with their credit score for free, and receive notifications about their accounts.

Best Egg Credit Card Balance Transfer

The Best Egg credit card doesn’t currently allow balance transfers from other cards or debts. If you’re looking to transfer a balance to a new card, check out our best balance transfer cards for fair credit review.

Best Egg Credit Card Cash Advance

Cash advances are available through Best Egg’s credit card. The minimum advance is $10, and advances are subject to a charge of either $10 or 5% – whichever is greater – of the amount of each advance.

Is Best Egg a Good Credit Card?

Best Egg is a good credit card for those looking to further establish their already fair to good credit score. The card generally receives high marks despite some apparent growing pains.

Impressive, though, is Best Egg’s commitment to regularly and automatically reviewing each account for credit limit increase opportunities. Benefits like no overlimit, foreign transaction, or annual fees help the Best Egg Credit Card stand out from the crowd.

Best Egg Credit Card Vs. the Competition

Here’s how the Best Egg Credit Card stacks up against other popular unsecured credit cards designed to help build credit.

Intro APR Interest Rates Minimum Credit Score for Approval Annual Fee Rewards
Best Egg 0% (6 or 12 months) 18.99 – 29.99% 650 $0 1% cash-back on all purchases
Capital One QuicksilverOne Cash Rewards Credit Card None 30.74 (variable) 640 $39 1.5% cash-back on all purchases
Petal 2 Visa Credit Card None 18.24 –  32.24% (variable) Not Specified $0 1% –1.5% cash-back on all purchases
Upgrade Cash Rewards Visa None 14.99 – 29.99% 580 $0 1.5% cash-back on all purchases

Frequently Asked Questions

Is Best Egg legit?

Is Best Egg a good loan company?

Does Best Egg call your employers?

Does Best Egg verify income?

Does Best Egg report to credit bureaus?

How long does Best Egg take to deposit?

How many Best Egg loans can you have?


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About Author

Dr. Ali
Deane Biermeier is a prominent figure in all things finance and home improvement, renowned for his detailed written content, analyses, and expert advice. Over the past several years, he's contributed to industry-leading publications such as Forbes Home, Angi/HomeAdvisor, US News and World Report, Newsweek Vault, and Family Handyman. Deane's expertise is further established and recognized through his review board roles and by providing expert insights at The Spruce and Family Handyman. His recent affiliation with in 2023 further solidifies his position as a respected authority in his field. Key Highlights Extensive Publication Contributions: Deane's work is featured across multiple esteemed platforms, including Forbes Home, Angi/HomeAdvisor, US News, Newsweek Vault, and more. Expert Consulting and Insight: Offers specialized content reviews and consultations for The Spruce and Family Handyman, using his vast knowledge and experience. What Makes Deane Biermeier Stand Out? Deane's writing goes beyond providing lists of information. He strives to make complex topics understandable and breaks them down into easy-to-understand points so his readers can make confident decisions quickly. His content covers a wide array of topics, offering practical and valuable information on home-related, DIY, and home and personal finances. Philosophy and Approach Deane firmly believes in the power of informed decision-making and empowers his readers to do the same. His reviews focus on delivering essential and pertinent information with honesty and transparency without bias. He stresses the importance of understanding the full picture before committing to financial products or home improvement services and provides relevant information to ensure his readers can make confident decisions. Impact and Recognition Readers and industry leaders have widely acknowledged Deane's contributions. Delivering trustworthy information has made him a go-to source for those seeking practical advice on home improvement and financial decisions. With years of field experience complemented by thorough research, Deane continues to serve as a valuable resource for homeowners and consumers alike. Engage with Deane Biermeier Readers are encouraged to follow Deane for the latest reviews and updates. His author bio page, featuring his latest content, is filled with valuable insights and information to refer to when making product and provider choices. Sharing his profile and work on social media is a great way to empower others with useful and factual information.
Dr. Ali

Deane Biermeier

Last Updated: February 26, 2024