2023 Best Egg Review
Best Egg offers personal loans ranging from $2,000 - $50,000, to be paid off over the course of Up to 60 months. It’s slightly easier to get a personal loan from Best Egg than from the average personal loan provider. You’ll need a credit score of 640, compared to the typical 660. But according to the company, you’ll only be able to achieve the minimum APR of 8.99% if you have a score over 700 and an annual income above $100,000.
Best Egg certainly has areas where they lag behind other personal loan companies, however. Best Egg’s maximum APR of 35.99% is somewhat high, though plenty of alternative lenders might charge up to 36%. Plus, Best Egg’s origination fee is 0.99% - 8.99% of the loan amount. Many lenders that focus on customers with higher credit scores don’t charge origination fees.
Best Egg, a WalletHub partner, has been doing business since 2014. But it has gained a good reputation in that short time, receiving an A+ score from the Better Business Bureau.
Best Egg Review Highlights:
- Loan Amount: $2,000 - $50,000
- Repayment Period: Up to 60 months
- APR: 8.99% - 35.99%
- Origination Fee: 0.99% - 8.99%
- Late Fee: $15. Best Egg’s late fee is middle of the road. Some personal loans don’t have late fees, while others charge $30+.
- Best Egg Loan Payment Options: Unless you want to pay an extra $7 processing fee per payment, you’ll need to enroll in automatic payments with Best Egg.
- Best Egg Loan Requirements: 640 credit score, Social Security number/ITIN/passport, email address, active bank account, SSN.
- Co-signer Policy: None allowed. You can only apply for a Best Egg personal loan by yourself. That’s one disadvantage Best Egg has compared to some of their competitors.
- Pre-qualification: You can see if you’re pre-qualified on Best Egg’s website. You can also check for prequalification from Best Egg and multiple other lenders on WalletHub
- Reputation: Best Egg gets an A+ from the Better Business Bureau and has an average user rating of 4.6/5 on WalletHub.
All in all, Best Egg loans are a decent choice. Best Egg is upfront about their loan terms. If you’re interested, you should definitely check for pre-qualification before applying. The better your credit is, the more likely you are to receive rates worth getting.
Best Egg is run by Marlette Financing, LLC, and all of their loans are provided through Cross River Bank. Below, you can see how WalletHub rates Best Egg in our three major categories: Terms, Requirements & Fees, and Reviews & Transparency.
Best Egg Ratings by Category:
| Category | Editor’s Rating |
|---|---|
| Terms | 3.3/5 |
| Requirements & Application | 3.5/5 |
| Reviews & Transparency | 4.3/5 |
| Overall Score | 11.1/15 |
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
