Best Egg may approve you for a personal loan the same day you apply or within 1 - 3 business days. After your application is approved and you accept the offer, it takes 1 business day to receive your funds, which Best Egg will send to you by electronic bank transfer.
It is not very difficult to get a personal loan from Best Egg because they offer personal loans for people with credit scores as low as 640+, 700 for best rates. Other Best Egg personal loan requirements include being at least 18 years old, having an SSN or ITIN, and having enough income to afford monthly loan payments.… read full answer
Best Egg Personal Loan Requirements
Minimum Credit Score: 640+, 700 for best rates credit score
Minimum Income: $100,000+ minimum annual income for best rates
Once you make sure you've met all the requirements for a Best Egg personal loan, you should have a good chance of approval. However, the exact interest rate you receive will depend on factors such as your credit score, income, and debt.
You can use WalletHub's free pre-qualification tool to see if you're likely to get approved and what rates you could get. Plus, it won't hurt your credit.
Yes, Best Egg does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Best Egg's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answercredit score simulator on WalletHub.
It's worth noting that some people may be uncertain about whether Best Egg does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.
If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include Opploans and NetCredit.
It is fairly easy to get a loan from Best Egg because you’ll need a credit score of just 640+ to qualify. Other requirements to get a loan from Best Egg include being at least 18 years old, having a bank account and having enough income to afford the loan.
Identification: SSN, ITIN, or passport, and valid email address
You should have a good chance of approval if you meet all the requirements, but it is never guaranteed. The exact APR that you receive will depend on factors like your credit score, debt and income, too.
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