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Find the Best Personal Loan for Your Needs

If you need to borrow money from a lender, but you don’t know what type of loan is best for you, you might want to consider obtaining a personal loan. Personal loans are loans that provide the borrower with capital for whatever they need – they’re becoming increasingly popular with many modern consumers in the United States. Traditional lenders have typically been those who provide personal loans to consumers in the United States. But things have changed drastically over the past decade – there are now a number of large tech companies that provide personal loans online.
Best Egg Personal Loan Reviews

The Landscape

As the lending landscape changes, it’s not much easier for people to obtain personal loans from the comfort of your home. This makes them a solid option if you’re looking for a quick and convenient solution to your financial issues. Best Egg is one of the leading personal loan providers in the online space – they help tens of thousands of consumers find funding every year.

Our Best Egg personal loan review will help you understand if this is the right lender for you and your family. There are plenty of different options available – so make sure that you use the lender that is best suited to your particular circumstances. Below we will explore Best Egg’s features and services to help you better approach the lending decision. If you’re thinking of using Best Egg, our Best Egg loan review is the perfect resource for you!

Best Egg: The Company

If you’re going to work with a lender, it’s important that you have a full understanding of the company and what they offer to their clients. When you borrow money from a lender, you’re entering into a long-term contract with them – you don’t want to work with someone who is unreliable or shady. Best Egg first started operating in 2014 – the company is one of the newest entrants to the online lending sphere.

Since then, the company has funded around $5 billion worth of loans, which is an impressive feat given how young the firm is. At present, Best Egg is located in Delaware.

Best Egg Personal Loan Features

Check out the different features you’ll find at Best Egg:

Best Egg Personal Loan APR: 5.99% to 29.99%

Minimum Loan Amount: $2,000

Maximum Loan Amount: $35,000

All Best Egg personal loans are unsecured personal loans.

Minimum Credit Score: 640


If you want to obtain a loan through the internet, this is a good option. Best Egg is an entirely online lender, which means you can apply for a loan from the comfort of your own home. It’s a great way to speed up the application process – they can get you financing in as little as 24 hours.

Flexible Terms

Many online and traditional lenders only have one choice of term for their customers. This can create problems if it doesn’t fit your budget or timeframe. At Best Egg, you can choose between a three and five-year term – decide which one works best for your situation!


There are plenty of online resources on the Best Egg site – you’ll be able to find all the information you need to ensure that you understand what personal loans are and how much they will cost you. If you’re still confused about personal loans, their site is a great resource.

Reasonable Average Credit Score

While there is a minimum credit score of 640, the average credit score of applicants is around 680. This is a reasonable average credit score. It suggests you’ll be able to receive financing even if you don’t have perfect credit.

Origination Fees

Origination fees are fees tacked on to the start of the loan, with Best Egg, you pay around 1-6% depending on the type of loan that you have. This adds on a bit of an extra cost, so it’s important to keep in mind when you’re making a decision on a loan.

What is a Personal Loan?

So, what exactly is a personal loan? We’ve already covered some of this topic but we’ve yet to truly dig into the specifics of personal loans. As mentioned previously, personal loans are loans that can be used for any purpose. You don’t have to tell the lender what you’re using the funds for – you’re allowed to purchase anything you want with the money you receive from the loan. For this reason, it’s much different than a mortgage or car loan. This is the primary reason that personal loans are so popular.

There are actually two primary variations of personal loans. Secured loans and unsecured loans. Secured personal loans typically have lower interest rates, but they’re tied against a specific asset such as a home or property. On the other hand, unsecured personal loans are not tied to an asset, but they do typically come with much higher interest rates. This is because unsecured loans are much riskier for lenders. Most personal loan companies that operate online provide unsecured personal loans to their customers.

Uses for Personal Loans

Now that you understand personal loans, you might be wondering what people use them for. As we said, you don’t have to have any specific purpose for a personal loan – you can even leave the money in your bank (although we don’t advise this). Either way, there are tons of reasons that people use personal loans. We’ve created this personal loan uses section to help you better understand some common reasons that you might need a personal loan.

Debt Consolidation

One of the most popular reasons people obtain personal loans is for the purpose of consolidating credit card debts, lines of credit, or student loans. All of these forms of debt typically carry very high interest rates. This makes it hard for people who are trying to pay down their current debt. If you want to be certain that you pay a reduced interest rate, you should consider using a personal loan to pay off your debt, and then pay back the loan over the term period. Just make sure that your loan interest rate is lower than your credit card interest rate.


Emergencies can often be very expensive. If you get into an accident or get sick, you might need some extra funds to help cover the costs. Many people use personal loans because of emergencies – it’s a great way to help bridge a gap in cash flow if you have a large expense arise out of nowhere.


If you’re going to purchase an item, a personal loan can help spread out the cost of the purchase. Some people find it hard to get loans for certain types of purchases, such as boats(see boat financing article) or other large types of assets. If you use a personal loan, you can purchase whatever goods or services you need without having to tell the bank. This makes it a very flexible form of finance for those who need to make large purchases.

Pros and Cons of Best Egg Personal Loans

If you’re going to choose a lender to work with, it’s important that you know both the pros and the cons. In this section, we’ll take a precise look at the pros and cons of working with Best Egg. It’s a great way of doing a final analysis of whether or not Best Egg is the type of loan company that suits your needs. Check it out below:

Best Egg Advantages

  • Quick – Best Egg is one of the quickest lenders on the market. They can often get you funds within a day.
  • Online – The fact that the company is operated entirely online makes the process quick, simple, and very convenient. It’s much better than applying through a traditional lender.
  • Good Interest Rates for Good Credit – If you’re someone who is looking for a low interest rates, Best Egg has competitive rates if you’re someone with a good credit score.
  • Plenty of Resources – If you’re looking for more information on personal loans and Best Egg services, they have a resources page that can help you out.
  • Flexible Terms – You can choose between three and five year terms.
  • Great Reviews – They have great reviews – this will be explore further on in this article.

Best Egg Disadvantages

  • Some High Interest Rates – If you have a bad credit score, you will probably still be offered a high interest rate. This rate might be higher than your credit score. Keep this in mind.
  • Origination Fees – While some new lenders don’t have any additional fees, Best Egg does have origination fees that you have to consider.

Preparing Your Application for Best Egg

If you’re going to apply for a personal loan, it’s very important that you prepare your application as much as possible. Not having the best credit score possible will seriously damage your chances of being approved. If you want the process to be painless, it pays to ensure you’re in the best position possible. If your application gets denied, it could impact your future ability to obtain a loan. Below are some top tips to improve your credit score prior to applying for a loan though Best Egg:

Pay Down Credit Card Debt

This won’t be an option for everybody, but if you can afford to pay down your credit card debt, it can seriously help your score. Those who have a large amount of credit card debt typically have lower credit score – this is because a large portion of your credit score is determined by how much of your available balance you’re using. If you pay down this balance, you can see an improvement in your score in as little as four weeks.

Check Score and Report

If you know your credit score, you might not know what your full report looks like. You are entitled to one free credit report every year from all the major reporting bodies, so you won’t have to pay to check it. More people than you realize have issues with their credit reports. If you find a mistake or an error, you can request for it to be removed. If you don’t want to do it yourself, you can request a credit repair company to help you remove certain items.

Consumer Reputation

We suggest that our readers value the consumer reputation of the lenders they’re looking to work with. There’s no better indicator of how you will enjoy the services of a company than how past customers have enjoyed their services. If you want to see what consumers think of Best Egg, make sure to check out the Best Egg loan reviews on consumer watchdog groups around the internet.

Better Business Bureau (BBB) – Best Egg Reviews BBB

The BBB is the most famous consumer watchdog website in the country. The platform provides a space for people to review companies – the BBB also provides their own ratings on companies using a mixture of consumer reviews and independent research. Best Egg has an A+ rating from the BBB – the highest rating achievable. They also have over 90% positive reviews from consumers – this is completely unheard of in the industry! This means Best Egg has an extremely high customer satisfaction rate! You can find Best Egg reviews on the BBB website.

Consumer Affairs

Best Egg is a Consumer Affairs accredited brand. The company has managed to achieve a 4.8/5 with Consumer Affairs reviewers – again, this is a clear indication of a great company. If you head to Consumer Affairs, you can find reviews on Best Egg loan company.


As you can see, Best Egg is one of the highest rated loan providers on the market. If you’re looking to work with a company that values their customers, Best Egg is a solid option. After reading Best Egg personal loan reviews, you probably understand why this company has experienced so much growth in the last four years. They also have great interest rates for people who have good credit scores – and they don’t shy away from people with average credit backgrounds.

If you’ve read Best Egg loan reviews and still find that you want to try another lender, make sure to check out some of the other reviews on our site! We are a great resource for anyone looking to obtain a personal loan.


Best Egg General Questions

If you have questions about Best Egg as a company, the questions below may be relevant to what you're looking for. Check it out:

What is Best Egg?

Best Egg is an online personal loan company that primarily helps people obtain debt consolidation loans. Their loans are often used to consolidate credit card debt or other high-interest debt.

Is Best Egg a good loan company?

Like any loan company, Best Egg does have some complaints. But overall, they have an A+ rating with the Better Business Bureau, as well as plenty of positive feedback. They are often in the top ten personal loans mentioned around the web.

Is Best Egg better than lending club?

This is a subjective question. It will depend on the rate and terms that you are offered by each of these personal loans companies. This will vary depending on your income and credit score.

Is Best Egg a good idea?

This depends on your personal financial situation. If you can obtain a loan at a much lower interest rate than your current debt, it can be a good idea for saving money. If you're looking for a quick cash loan then perhaps a local lender may be better.

Is Best Egg legit?

Best Egg is a legitimate online lender that is accredited with the Better Business Bureau. You can find scores and feedback on the BBB site. Many people consider them to be the best place for a personal loan.

Where is Best Egg located?

Best Egg is an online business that caters to most areas of America. The company is currently based in Wilmington, Delaware.

Who owns Best Egg loans?

Best Egg is owned by a holding company named Marlette Funding. It is not known how much control Marlette Funding has over Best Egg.

Can Best Egg be trusted?

While there are some negative reviews online, Best Egg is accredited with the Better Business Bureau. They currently have an A+ rating, which indicates they are a trustable company. And if you check out our Lendup review you'll see they're a good alternative company as well.

Does Best Egg send mail?

It appears that Best Egg does send mail. Many online customers appear to have received mail from Best Egg.

Does Best Egg show up on credit report?

Yes. All lending companies typically show up on your credit report, especially if you've been approved for financing.

Is Best Egg loan a secured loan?

No, Best Egg loans are not secured loans. In most instances, they're unsecured personal loans to provide debt consolidation assistance. Best Egg Loans can be used for other purposes as well. Take a look at secured loans online offered by other companies.

Is Best Egg unsecured debt?

Yes, a Best Egg loan is an unsecured debt. This doesn’t mean that Best Egg cannot pursue its money if you don't pay it back, but the loan is not directly secured to one of your assets. Take a look at cash advance loans online offered by other companies too.

Is Best Egg peer to peer?

No. Best Egg is not a p2p lending company. It's a lender that provides private personal loans to individuals. Most of these loans are provided by Cross River Bank.

What bank owns Best Egg?

Best Egg is a lender that provides online personal loans to individuals via Cross River Bank. The exact ownership structure is not known, but Cross River Bank does provide the financing.

Best Egg Methods

If you'd like to know more about the Best Egg methods, it's essential to take a look at these FAQs below:

Does Best Egg do a hard pull?

While some information indicates that Best Egg does a soft pull on your credit report, there is also evidence of the contrary. Some online reviews indicate that hard checks were pulled on credit reports.

Can you pay off Best Egg loan early?

Yes. You can pay your Best Egg loan off early if you decide you no longer want to make monthly payments. There's no fee for paying off your loan early.

What is Best Egg origination fee?

The origination fee will dependent on the individual and the loan. It can range from .99% to 5.99%. You can assume that it may be on the higher side of this range.

Does paying off a loan early hurt credit?

No, paying off your loan early should not negatively impact your credit score. If anything, it's good to have the debt off your credit report. At the same time, it probably won't improve your credit score.

Does Best Egg have prepayment penalty?

No. There is no prepayment penalty at Best Egg. You can pay your loan off early if you want to avoid the extra interest charges. It's a good option if you can afford it.

Does Best Egg verify income?

Yes. Income is a key component of Best Egg's lending requirements. For this reason, they may choose to verify your income at some stage during the application process. 

Can I refinance my Best Egg loan?

Yes. You can always refinance a personal loan by applying for a separate personal loan and paying off your old loan. It's important to remember that you should consider the new loans interest rates and fees before deciding if refinancing is a good option. Learn more about personal loan low interest options.

Can I refinance my loan with Best Egg?

Yes. Best Egg offers refinancing by providing personal loans to individuals. You can use this to refinance other loans, credit cards, or a range of forms of debt.

What documents does Best Egg need to approve a loan?

This will depend on if you are asked for additional documentation to verify claims or income. This will depend on the individual applicant.

What happens if I don't pay Best Egg back?

Best Egg will most likely come after you for the money that you owe them. It will also severely damage your credit report if you are to have a defaulted loan on your credit report.

What is the Best Egg loan process?

You can complete the entire loan application online through the Best Egg application center. You will be asked for relevant personal information and documents during this process. It's a relatively painless process if you're looking for an easy loan application. We also review online loans direct lender options if you prefer that.

Does Best Egg have upfront fees?

There is no fee for applying for a Best Egg loan. You will need to pay an origination fee when you are approved for a loan — this is only if you decide to accept financing from Best Egg.

Other Best Egg Questions

Here are some other Best Egg FAQs that we often receive.

How many Best Egg loans can you have?

This will depend on your income and credit profile. If you already have a lot of loan with Best Egg, they may be less likely to provide you with another one. You are only allowed to have two at a time.

Can I have two Best Egg loans?

Yes. In some instances, you will be able to have two different Best Egg loans at the same time. There are some niche requirements for this though.

How good is Best Egg?

This is a subjective question. While Best Egg does have some online complaints, the company also has some excellent feedback. It has an A+ rating on the BBB.

Is it better to get a loan to pay off debt?

If you can get a loan at a lower interest rate than your current debt, then it can be a good idea. Make sure to factor in additional fees or charges when making this decision.

How long does it take for credit score to go up after paying off debt?

This depends on the type of debt. If it's credit card debt, it can go up as quickly as the next time your bill is reported to credit bureaus. This could be just a few weeks!

Has anyone used Best Egg loans?

Yes. Thousands of people have used Best Egg loans over the past few years. It has proved to be a very popular loan company.

Is Best Egg worth it?

This depends on the interest rate that you're offered and your current debts interest rate. If you can save money, Best Egg could be worth it.

What credit bureau does Best Egg use?

It is not entirely clear which credit bureau Best Egg uses. This could mean that they most of the different credit bureaus to check your report.

Is Best Egg safe?

While there are a few complaints about Best Egg, the company does currently have an A+ rating from the BBB.

Does Best Egg affect credit score?

Yes. All loans or credit checks will impact your credit score. Though this should not be a significant amount if you pay back the loan on time.

Does Best Egg call employer?

There are reports that Best Egg may contact your employer to ask questions about your income. This is part of a verification process.

Does Best Egg report to credit bureaus?

Yes. Like most major financial companies, Best Egg does report to credit bureaus. It's important to remember this before you agree to use its financing.

Can I borrow more money from Best Egg?

This will depend on your income and credit profile. If you have high income and a good credit score, Best Egg may be willing to lend your more money. It depends on individual circumstances. Remember there are plenty of other options for easy money loans if you have good enough credit.

Can you call and make a deal with Best Egg?

There's no definitive information on this. If you'd like to make a deal with Best Egg, you should call them and see if they're willing to work with you.

How long does it take Best Egg to verify documents?

Best Egg may be able to verify documents and get you money within a day. This will depend on the documents and the type of information that they need to process.

How long does the verification process take on Best Egg?

This will depend on a case-by-case basis — it will depend on what needs to be verified. In some cases, you may be able to get money within a day.

How to cancel Best Egg application?

Best Egg does not provide a range an easy route for canceling an application. You should call them to cancel your application if you decide to change your mind.

How to check my rate on Best Egg?

If you'd like to check your rate on Best Egg, log into your personal loan account to take a look at the details of your loan. You can also cost their customer service team to ask about your rate.

How to disable automatic payments Best Egg loan?

There may be a fee associated with stopping automatic payments. Call Best Egg to speak about your automatic payment options before you make any hasty decisions.

What credit score does Best Egg require?

Best Egg has some of the largest requirements for financing. You'll need at least a 640 to apply, but you may need a much higher score to actually get approved. It's better to have over 700 if you want to apply for Best Egg loan and get a better interest rate. If you score is low then it is best to look elsewhere for the best online loans for bad credit.

What proof does Best Egg require for personal loan?

Best Egg will check your credit report to see if you're eligible. Any further requirements will depend on your application and your credit background. If your credit is too low and this money is more for a temporary need then you can search for short term loans near me.

Robert is our in-house expert on personal loans and finance. He got an MBA, specializing in Finance, before joining the workforce. After working for multiple Fortune 500 companies in the past decade, he brings a wealth of knowledge and experience to the table.