Best Egg Loan Review

Best Egg loan offers are available as personal loans, debt consolidation, and other financial tools. The company is highly rated among consumers and earns an A+ grade from the Better Business Bureau. Annual percentage rates start at 6.99% with autopay* for well-qualified borrowers. However, Best Egg also offers lending solutions for those with less-than-stellar credit scores. Best Egg ranks among our best personal loan companies with a score of 9.1 based on our rating criteria.

Review Best Egg Loans vs. Other Top Lenders

Best Egg Loan Features and Benefits

Best Egg loan offers and debt consolidation products are available in most states, except for those who live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories.

Borrowers can have more than one Best Egg loan through Credible’s website at a given time, from $2,000 to $50,000, provided the total balance doesn’t exceed $100,000.

Other features and benefits include the following:

• Highly rated company
• Amounts from $2,000 to $50,000
• Soft credit check pre-qualifying won’t affect credit score
• Secured loan options are available
• Direct lender payments are available
• Repayment terms from 24 to 60 months
• Annual percentage rates from 6.99% – 35.99%
• Low origination fee of 0.99% – 9.99% applies
• Best for fair credit scores and higher
• Also offers debt consolidation and other financial services
• A Best Egg vehicle equity loan is also available
• Co-signers not allowed
• Credit scores over 700 get the best rates

Best Egg Loan Review Editorial Rating

Trusted Company Reviews Rating Score for Best Egg loans: 9.1Our best debt consolidation companies review highlights our top picks in the industry. While Best Egg fell just short of our top five list, Credible, where Best Egg is available, rates highly with a 9.2, based on our rating criteria.

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.

About Best Egg Loans

Best Egg personal loans can significantly reduce your interest rates, bringing them down from over 20% to as low as 10%, or even lower, depending on your credit score, credit history, and other factors.

Before applying, it’s wise to compare rates from multiple top-rated lenders through Credible, which includes Best Egg in its offerings. This free tool can help you find the best rate available to you.

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 personal loans or debt consolidations within three business days in most cases—Normal funding time is between one and four days.

Best Egg Loans Credit Score Requirements

To qualify for Best Egg loan offers or debt consolidation, you’ll need a credit score of at least 640. Your pre-approval requires only a soft credit pull that won’t affect your credit score or appear on your credit report. This is helpful when shopping for the best rates.

Best Egg Loan Pre-Approval Odds

Your credit history and other factors, including your debt-to-income ratio, will impact your pre-approval and final offer eligibility. Be prepared to provide information, such as your social security number, income amounts, and other financial information when applying for pre-approval.

After choosing your loan or debt consolidation product, Best Egg will perform a hard inquiry on your credit report and may request further documentation before making a final offer for you to accept.

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

At this time, Best Egg allows individuals only to apply for its financial products. Joint applicants aren’t accepted.

Best Egg Personal Loan vs. Debt Consolidation Option

In addition to personal loans for use in a vast range of ways, from large purchases to home improvement projects to obtaining emergency cash, and more, the company also offers debt consolidation options.

Best Egg’s debt consolidation products allow you the option of having the company make direct payments to your lenders and feature the same $2,000 minimum loan amount entry point. Best Egg also provides vehicle equity loans, in which you can get a secured loan with your automobile as collateral.

Credit card refinancing is also an option Best Egg provides. However, the company no longer offers credit card applications as of June 2024. Credit card management tools for its former cards still exist on its website.

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 factors.

• Debt to income ratio 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

Best Egg Customer Reviews

Best Egg is BBB-accredited and has over 3,200 customer reviews. Its average customer review rating is 4.87 out of 5 stars, with an A+ grade, one of the best ratings from lenders we’ve reviewed this year. Best Egg customer reviews can change at the Better Business Bureau, so be sure to visit the BBB directly.

Is Best Egg Worth It?

Best Egg debt consolidation or a personal loan may be worth it if your financial circumstances warrant taking the step and your credit score is 640 or above.

The company is somewhat more stringent than a few other online lending platforms. Where some lending sites assure borrowers with very low credit scores that approval is possible, Best Egg states that consumers with scores below 640 are less likely to qualify. Consumers seeking debt consolidation with credit scores above 700 are likely to enjoy Best Egg’s best interest rates and terms.

Whatever the case, a Best Egg loan or debt consolidation loan can be an excellent financial tool for those with fair credit and above.

Best Egg Vs. Upstart

Best Egg and Upstart are different companies that are both available through Credible.com. 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, it partners with two banking partners instead of numerous debt consolidation and personal loan financing.

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.

Best Egg Vs. Other Personal Loan Lenders and Debt Consolidation Providers

Several other personal loan and debt consolidation lenders are available on platforms similar to Best Egg. Here’s how they stack up against each other.

*Read rates and terms at Credible.com

Other reputable personal loan providers

LendingClub reviews
LightStream Fixed Rate Personal Loan Review
Upstart AI Loans with High Pre-Approval Rates
Upgrade Review

Check out Best Egg Loans vs. Other Top Lenders

Frequently Asked Questions

Disclosure

Disclosures

Rates and Terms Disclosure (Personal)
Credible Disclosers
Rates for personal loans provided by lenders on the Credible platform range between 6.94% – 35.99% APR with terms from 12 to 120 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 12%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 10.43%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 3, 2022, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.

Prequalified Rates DISCLOSURE:
Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Lowest rate advertised is not available for all loan sizes, types, or purposes, and assumes a very well qualified borrower with an excellent credit profile.

NMLS# DISCLOSURE
Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states. www.nmlsconsumeraccess.org.

Trusted Company Reviews is paid a referral fee for individuals that use an affiliate link on this website. The following are affiliate partners of Trusted Company Reviews: Credible, Best Egg

About Author

Deane Biermeier