finder.com's rating: 3.85 / 5.0
★★★★★
Bottom line: Customers leave rave reviews of this fast, low-interest personal loan. But it can be difficult to qualify if your credit score is less than perfect.
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Best Egg personal loans review
- Max. Loan Amount
- $50,000
- APR
- 8.99% to 35.99%
- Min. credit score
- 640
Our verdict
Borrowers love this online lending platform, but fees are on the higher end.
Best Egg stands out for its overwhelmingly positive reviews of its simple application process and knowledgeable staff. It decides on approval within minutes and funds as fast as 24 hours. But it charges a higher origination fee than some competitors, and it can be difficult to qualify if your credit score is less than perfect.
Best for: Those with strong credit scores wanting a lending platform with exceptional customer service.
Pros
-
Loan amounts up to $50,000
-
Stellar customer reviews from Trustpilot and the BBB
-
Multiple repayment methods, including Western Union Quick Collect
-
Available in most US states
-
Ranked #1 loan company in 2021
Cons
-
High origination and late payment fees
-
Harder to qualify if you're self-employed
-
Not available in DC, IA, VT or WV
Details
Product details
| Min. Loan Amount | $2,000 |
| Loan Amount | $50,000 |
| APR | 8.99% to 35.99% |
| Interest Rate Type | Fixed |
| Min. credit score | 640 |
| Origination Fee | 0.99% to 8.99% |
| Late Fee | $15 |
| Loan term | 3 to 5 years |
| Turnaround Time | 1 to 3 business days |
Contact info
| Phone number | (855) 282-6353 |
| Customer service hours | Monday - Thursday 8 A.M.–10 P.M. Friday 8 A.M.–8 P.M. Saturday 9 A.M.–1 P.M. Sunday Closed |
| @MyBestEgg | |
| @MyBestEgg |
Our take on Best Egg
Best Egg is an online lending platform that works with Cross River Bank and Blue Ridge Bank to offer personal loans. You can check your rate within minutes, explore your loan options without impacting your credit score and receive funding as fast as 24 hours.
Best Egg’s low rates and simple application make it a competitive choice — but you’ll need to have a 700 credit score or higher to qualify for the lowest APR. Applicants also need a credit score above 640 to be considered.
Aside from personal loans, Best Egg has other products, including debt consolidation and credit card refinancing.
In 2021, Best Egg was named the “#1 Consumer’s Choice for Personal Loans,” based on over 13,000 reviews. Best Egg has stellar reviews on third-party platforms as well.
Best Egg rates, fees and terms
Best Egg isn’t a fee-free experience. APRs range from 8.99% to 35.99%, and you may be required to pay an origination fee of 0.99% to 8.99% — which gets taken from your total loan amount before funds are disbursed. Just like with other lenders, the rates you’re offered depend on your credit score and loan terms.
There is also a $15 late payment fee if your payment does not go through, including returned checks or insufficient funds in your account.
How Best Egg compares to other lenders
Best Egg has great reviews, but it’s not your only option. Compare Best Egg to other lenders and lending marketplaces.
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Best Egg reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 4.87 out of 5 stars, based on 2293 customer reviews |
| Trustpilot Score | 4.6 out of 5 stars, based on 8,129 customer reviews |
| Customer reviews verified as of | 12 July 2023 |
Best Egg has been accredited with the Better Business Bureau (BBB) since 2014. It has an A+ rating, meaning the BBB believes it meets or exceeds expectations in rating standards. Shockingly, Best Egg also has a high star rating for customer reviews. This is particularly impressive, since the majority of BBB reviews for other lenders or lending marketplaces are notoriously low. Typically, people go to the BBB to complain, not to praise.
Best Egg is currently holding a near 5 star rating on Trustpilot — also high for the industry. Only 5% of the reviews are one-star. Common complaints revolve around poor communication and frustrations with getting a pre-approval and then later being denied. However, the majority of reviews (88%) are 5-star, citing a user-friendly experience with knowledgeable staff, easy application and quick turnaround times.
How to qualify
To apply for a loan from Best Egg, you must meet the following eligibility criteria:
- Have a credit score of 640 or higher
- Be a US citizen or permanent resident
- Must not reside in IA, DC, VT or WV
- Be of legal age to accept a loan in the state in which you reside
- Have a verifiable personal checking account with a routing number
- Have a valid email
- Have a physical address, not a PO box
Best Egg needs to see current information like your employment history. Since a pre-approval offer is based on a soft credit check, you’ll need to submit more information to see your rates. A soft credit check doesn’t affect your credit score, but if you move forward with a full application after the pre-approval, expect a hard credit pull that can impact your score.
Best Egg doesn’t have many specific requirements aside from what’s listed above, but it still considers several factors during the application process.
How the application works
Apply by filling out a form on Best Egg’s website. After you submit your application, Best Egg processes it and notifies you of an approval decision within a few minutes.
If you’re pre-approved, you can confirm the information about yourself and sign your loan documents. You may receive your loan funds within one to two business days.
Set up an electronic funds transfer through Best Egg’s website, by mail or even through Western Union to make your repayments. Electronic funds transfers come with an autopay option, which can help you avoid missing a repayment. Best Egg charges a $15 late fee.
Is Best Egg legit?
Best Egg is a legit lending platform. It has an encrypted website and an industry-standard privacy policy that covers how your information is collected and used.
It has funded over $21 billion to its customers through more than 1 million loans. It also offers multiple ways to contact customer service — including phone, email, Facebook and Twitter.
On the fence about Best Egg? Compare more personal loan options or read our guide to sites like Best Egg to find a lender that better suits your needs.
*Trustpilot TrustScore as of December 2022. Best Egg loans are personal loans made by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender or Blue Ridge Bank, N.A., Member FDIC, Equal Housing Lender. The Best Egg Credit Card is issued exclusively by First Bank & Trust, Member FDIC, Brookings SD pursuant to a license by Visa International. Visa is a registered trademark, and the Visa logo design is a trademark of Visa International Incorporated. “Best Egg” is a trademark of Marlette Technologies, LLC. Offers may be sent pursuant to a joint marketing agreement between Cross River Bank, Blue Ridge Bank, First Bank & Trust and Marlette Marketing, LLC, a subsidiary of Best Egg, Inc. The term, amount, and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within 1-3 business days. The timing of available funds upon loan approval may vary depending upon your bank’s policies. Loan amounts range from $2,000– $50,000. Residents of Massachusetts have a minimum loan amount of $6,500 ; Ohio, $5,001; and Georgia, $3,001. For a second Best Egg loan, your total existing Best Egg loan balances cannot exceed $100,000. Annual Percentage Rates (APRs) range from 8.99%–35.99%. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0.99%–8.99% of your loan amount, which will be deducted from any loan proceeds you receive. The origination fee on a loan term 4-years or longer will be at least 4.99%. Your loan term will impact your APR, which may be higher than our lowest advertised rate. You need a minimum 700 FICO® score and a minimum individual annual income of $100,000 to qualify for our lowest APR. For example: a 5‐year $10,000 loan with 9.99% APR has 60 scheduled monthly payments of $201.81, and a 3‐year $5,000 loan with 7.99% APR has 36 scheduled monthly payments of $155.12. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. Best Egg products are not available if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories. TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL– Operations Manager, Email: crt-resolutions@bestegg.com, Address: P.O. Box 42912, Philadelphia, PA 19101, Phone: 1-855-282-6353. This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website https://www.rld.nm.gov/financial-institutions/
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Bethany Finder
Writer, Banking and Loans
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mariaghan Finder
August 14, 2017
Hi Ellen,
As a friendly reminder, we do not represent Best Egg or any of the companies that we feature on our pages.
You may want to contact Best Egg directly should you want to apply for a loan with them.
For other options, you may check our page on Personal Loans.
Cheers!
Maria
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Debbie
April 12, 2017
Does Best Egg report to all 3 credit bureau and if so how often do they report?
Harold Finder
July 09, 2017
Hi Debbie,
Thank you for your inquiry.
While we do not represent any company that we feature on our pages, we can offer you general advice. With regard to this matter, you may want to try to clarify this directly with the lender. Meanwhile, please read more about how you can request your credit score to know more about your creditworthiness.
I hope this information has helped.
Cheers,
Harold
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Ellen
August 14, 2017
I am looking for a loan for $4500. I have fair credit. I have been turned down before for a loan but if granted the $4500 loan it will be paid back to you within the month