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Best Egg vs. Upstart: Which is better?

Best Egg and Upstart both offer personal loans, but you may score better rates and fewer fees with one over the other.

If you need a personal loan, Upstart offers competitive rates for those with limited credit history and fair credit scores. On the flip side, Best Egg offers products including but not limited to secured personal loans for debt consolidation to those with several years of credit history and a minimum 600 credit score.

Best Egg vs. Upstart: A quick comparison

Best EggUpstart











Finder rating★★★★★ ★★★★★
Loan products offered
  • Personal loans for debt consolidation, credit card refinancing, home improvement, home improvement, relocation, major purchases, baby and adoption, vacation loan and special occasions
  • Vehicle equity loans
  • Secured personal loan
  • Personal loans for but not limited to debt consolidation, medical expenses, home improvement, student debt, relocation, wedding and vacation
Interest rates8.99% to 35.99% APR7.80% to 35.99% APR
Fees0.99% to 8.99%0% to 12%
Loan amounts$2,000 to $50,000$1,000 to $50,000
Turnaround timeAs soon as one business day1 to 3 business days
Eligibility requirements
  • Min 600 Credit Score
  • Fair Credit
  • Proof of Education
  • Proof of Employment
Ratings
  • 4.6 out of 5 on Trustpilot
  • A+ Better Business Bureau Rating
  • 4.9 out of 5 on Trustpilot
  • A+ Better Business Bureau Rating
State availabilityNot available in: Iowa, Vermont, West VirginiaNot available in: West Virginia
Pros
  • Secured loan option for homeowners
  • Competitive interest rates for good and excellent credit borrowers
  • Inclusive approval criteria
  • Approves 44% more applicants than competitors
  • 36% lower APRs than peers
Cons
  • Higher credit score requirements
  • You can only have up to two open Best Egg loans at a single time, and combined balances must be below $100,000
  • No joint loans available
  • Loans cannot be used to pay for education expenses in California, Connecticut, Illinois, Washington or District of Columbia
  • $15 late payment fee or 5% of monthly amount due, whichever is greater
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Best Egg vs. Upstart: Which one’s better?

Best Egg provides personal loans through Cross River Bank and has a simple application process. It considers a good to excellent credit profile in offering competitive rates as well as providing secured personal loan options to homeowners.

Upstart, on the other hand, is an online lending platform that provides personal loans that offer next-day funding. Upstart also weighs your education and career, which provides relief to borrowers without an extensive credit history.

After evaluating all factors, Upstart is best overall due to its ability to provide lower rates, especially to those with higher credit scores. It also uses an automated model, which approves 44% more applicants than competitors. However, for borrowers who want payment flexibility, Best Egg offers some borrowers the ability to shift due dates.

When to consider Best Egg

If you are a borrower with a strong credit score, Best Egg is an excellent choice with low rates and origination fees. Best Egg is also best for people who want:

  • Automatic payment to creditors: Best Egg pays up to 10 of your creditors.
  • Option to shift due date: Select borrowers can shift their due date from the 1st to the 26th.

When to consider Upstart

If you are a borrower with a lower credit score, Upstart is a compatible choice by offering a lower barrier to securing a personal loan. Upstart is also best for people who prefer:

  • Automated application process: Upstart offers a 100% online application process that eliminates bias.
  • Quick deposit: You can expect your funds in as little as one business day.
  • Seek a second loan: Borrowers with previously low credit scores can apply for a second loan as long as they’ve met payments on their existing loan for six consecutive months.

The similarities

Both Best Egg and Upstart have an excellent rating from the Better Business Bureau, an independent authority on scoring businesses. While Best Egg offers lower APRs and origination fees, you can still apply for second loans with both borrowers while still paying down your first loan.

Alternatives to Best Egg and Upstart

To expand your search, here are three other similar lenders:

  • Prosper: Prosper‘s loan origination fees are lower than Upstart, as well as fees for check payments.
  • SoFi: SoFi is one of the few no-fee lenders on the market.
  • LendingClub: LendingClub has more options in its suite of lending solutions.

Compare other personal loans

Compare up to four lenders side-by-side to see how they stack up.

1 - 6 of 6
Name Product Filter Values APR Min. credit score Loan amount
LightStream personal loans
Finder Score: 4.8 / 5: ★★★★★
LightStream personal loans
7.49% to 25.99%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.
PenFed Credit Union personal loans
Finder Score: 3.6 / 5: ★★★★★
PenFed Credit Union personal loans
7.99% to 18%
580
$600 to $50,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
Upgrade
Finder Score: 4 / 5: ★★★★★
Upgrade
8.49% to 35.99%
620
$1,000 to $50,000
Check your rates with this online lender without impacting your credit score.
Best Egg personal loans
Finder Score: 3.8 / 5: ★★★★★
Best Egg personal loans
8.99% to 35.99%
600
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
Credible personal loans
Finder Score: 4.3 / 5: ★★★★★
Credible personal loans
4.60% to 35.99%
Fair to excellent credit
$600 to $100,000
Get personalized prequalified rates in minutes and then choose an offer from a selection of top online lenders.
Freedom Debt Relief
Not rated yet
Freedom Debt Relief
N/A
N/A
Starting at $4,000
Freedom Debt Relief works to help people with unmanageable, unsecured debt get back on their feet.
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