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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.
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
- 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
Best Egg Debt Consolidation Facts
|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
How to Get a Best Egg Debt Consolidation Loan
Does Best Egg Lend Money?
Approval and Acceptance
Best Egg Debt Consolidation Loan Requirements
- 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
How Does Best Egg Make Money?
Best Egg Reviews
Best Egg Reviews BBB
Is Best Egg Worth It?
Best Egg Vs. 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|
Frequently Asked Questions
Is Best Egg legit?
Best Egg is a legitimate online lending company in business since 2014 that currently provides services in 47 states nationwide. The lending companies that Best Egg partners with are Member FDIC institutions, and the company carries high average ratings and BBB accreditation.
Is Best Egg a good loan company?
Best Egg provides debt consolidation and personal loans and enjoys high average ratings from its customers and industry professionals. Best Egg may be a good solution for consolidating debt for consumers with fair and above credit scores. However, consumers with lower scores might not obtain approval from the company or may not realize the best benefits of Best Egg.
Does Best Egg call your employers?
Best Egg uses documents provided by the customer to verify income specifics and doesn’t call your employer for any information. Consumers can provide proof of income by submitting a W-2 form, paycheck stubs, banking statements, or other approved documentation. Best Egg will also perform a hard inquiry on the customer’s credit report before final approval.
Does Best Egg verify income?
Best Egg verifies income using the documentation provided by the customer at the time of debt consolidation application. Customers aren’t required to supply documents during the pre-qualification steps. However, document submission and review are necessary before final approval.
Does Best Egg report to credit bureaus?
Best Egg reports to the three primary credit bureaus—Experian, TransUnion, and Equifax. The hard inquiry that Best Egg performs during the approval process will appear on the customer’s credit report and affect the score.
How long does Best Egg take to deposit?
Depending primarily on your banking institution and the terms of your debt consolidation, you may see funds in as little as one day or as many as four days. Best Egg also provides the option to pay your creditors for you directly when consolidating debt.
How many Best Egg loans can you have?
Best Egg states on its website that borrowers can simultaneously have up to two loans through the company provided the total balance doesn’t exceed $100,000.
Image Sources: bestegg.com – bbb.org – trustpilot.com