98% of Best Egg Reviews Are 4 or 5 Stars: Here's Why

Although Best Egg was only founded in 2013, and is a relatively young company in the personal loan industry, it has proved that it understands consumers and their needs, consistently ranking as number one on our Best Personal Loan Companies list.

Best Egg offers quick, simple, and easy personal installment loans for a variety of borrower needs ranging from completing home renovations to consolidating debt. Understanding that each potential borrower is different, both in their current needs and financial background, Best Egg works with each individual to ensure the best borrowing experience possible. 

And this isn’t just us saying this.

This is what real customers have to say about their experience with Best Egg.

We wanted to understand why 92 percent of customers give Best Egg a five-star review, and we have found some common denominators among these positive reviews that help us understand why Best Egg is a top-ranked personal loan company.

Let’s take a closer look.

The infographic above includes information taken from a sample size of 400 reviews, and the following review breakdown is taken from the same sample size. Best Egg has more than 7,000 reviews on our website. From this sample size, we can see that the majority of customers have been pleased with how quick and easy it was to work with Best Egg, in addition to having positive experiences with customer service.

Quick and easy process

Seventy-six percent of sampled four-star or five-star reviews noted how quick and easy the application and funding process was with Best Egg. It is clear from these reviews that Best Egg’s promise of making “money accessible through fast, simple, and easy personal loans,” is a reality for the majority of borrowers.

If you are looking for money fast, perhaps for an emergency, Best Egg could be a great option for you, as approval and funding can be completed in just a few days.

In a similar vein to quick and easy service, various customers mentioned being approved for a Best Egg loan when they couldn’t get approved by any other lender. 

"My experience with Best Egg was very positive. They gave me a loan when others wouldn't."

— Janet, October 11, 2020

Each personal loan lending platform will have specific criteria which must be met in order to be approved for a loan, one of the most important factors being a borrower’s credit score. Best Egg’s minimum credit score requirement is lower than the industry average, but it may be difficult for subprime borrowers to be approved for a Best Egg personal loan.

Learn more about Best Egg’s eligibility requirements.

Superior customer service

For online lenders, customer service is not only very important, but also a unique challenge as borrowers can’t visit physical branch locations with concerns or questions. 

Twenty-one percent of sampled reviews made mention of Best Egg’s superior customer service. Through Best Egg’s Help Center, customers can search through featured topics or speak with a company representative directly by calling the listed phone number. Of the reviews that highlighted customer service, customers often noted that they received helped quickly and that the process was very professional and helpful.

Generally speaking, most people do not like calling customer service. Often people complain about long wait times in addition to impatient or unkind representatives with various companies in a variety of industries. Therefore, it is a relief to see from these reviews that such is not the case with Best Egg. As is made clear in the above review, customers can be confident that they will receive respectful and efficient service when working with Best Egg’s customer service.

Speaking to Best Egg’s commitment to superior customer service and offering customers the best experience possible, Bobby Ritterbeck, Best Egg CFO, adds:

“Beyond our great customer service, I’d say one of Best Egg’s main differentiators is that we do our best to ensure flexibility is a core component of our customer experience. As you can imagine, a decent percentage of our customers were impacted by the COVID-19 pandemic over the last year. Our team was not only able to develop flexible payment programs for these folks, but we proactively reached out to them as well — asking if these programs would help take a bit of stress off their minds. The response was overwhelming. It just feels good knowing we could play even a minor role in helping people get through this tough time, and to me, that’s one of the many things that makes Best Egg great.”

This proactive response to customer needs is highlighted on our website, as Best Egg generally responds to all reviews, speaking to its commitment to connect with customers and address concerns when needed.

Great rates

When looking for a personal loan, one large consideration for borrowers is interest rates. Best Egg offers fixed rates as low as 5.99 percent APR, which is far below the national average of 9.41 percent APR. Multiple reviews sampled made mention of Best Egg’s competitive rates, which were often lower than other lenders.

"Very expedient results, I had my cash very fast to consolidate debt and improve my home. Very reasonable rates compared with other loan companies and fees were not high as well. Highly recommend this BEST company!!"

— Charles, September 26, 2020

Although many customers were pleased with the rates they received, some customers felt that the rates were too high.

It is important to note that interest rates on personal loans will vary from borrower to borrower, as they usually depend on the borrower’s credit score and financial background. Best Egg has a minimum credit score requirement of 640, which is low in the industry. But, having that credit score does not mean that you will qualify for the lowest rates. Generally, excellent credit scores of 700+ are required to receive the lowest offered rates in addition to a substantial income.

Trustworthiness and transparency

Of sampled 4-star and 5-star reviews, a mere 5 percent mentioned how they felt like Best Egg was transparent and trustworthy. Five percent may seem small, but it is noteworthy that customers bring this up in reviews.

"The ease in obtaining this loan was outstanding. I was initially afraid to get a loan from an online company, however this company proved to be trustworthy."

— Linda, February 12, 2020

As an online lender it is important for Best Egg to establish their trustworthiness as a company and lender, and it accomplishes this by being transparent and up front with all relevant loan information. When you make an account with Best Egg your account information is available to you: loan balance, payment due date and amounts, late payment information, and your payoff amount. 

Best Egg also has a clear and transparent privacy policy that is easy to find on its website. This policy outlines how customer information is protected.

Detailed review responses

Many reviews left by Best Egg customers are short and sweet, remarking on a positive experience. However, some reviews leave greater detail of their experience and circumstances, enabling us to infer that Best Egg personal loans are a great option for multiple needs and financial circumstances. Many reviews also remarked that they were approved for a Best Egg loan when they weren’t able to be approved elsewhere.

In addition, Best Egg generally responds to all reviews left on BestCompany.com. It is noteworthy that they take the time to read and respond to customers, positive or negative. In response to negative reviews, Best Egg is respectful and takes steps to resolve concerns.

Most responses are similar to this, allowing the customer to take further action if they feel that their concerns still haven’t been resolved.

Best Egg frequently asked questions

What is the credit score requirement for a Best Egg personal loan?

Does Best Egg have additional personal loan application requirements?

Will my credit score be affected if I apply for a personal loan with Best Egg?

What is the interest rate I would receive on a Best Egg loan?

How much can I borrow from Best Egg?

How long will it take for me to receive my funding for my Best Egg loan?

What can I use my Best Egg loan for?

Does Best Egg have any fees?

Are Best Egg reviews positive?

How does Best Egg compare to other personal loan lenders?

What is the credit score requirement for a Best Egg personal loan?

Best Egg’s minimum credit score is 600. This is very low in comparison to the national average of 660. However, to qualify for the lowest rates and most agreeable terms, a credit score of 700+ would likely be required.

If you have bad credit, you may not be approved for a personal loan with Best Egg.

Does Best Egg have additional personal loan application requirements?

In addition to a good credit score of 600 or above, Best Egg also requires borrowers to have a low debt-to-income ratio, as well as a verified annual income. These three factors are required for the Best Egg application process.

Will my credit score be affected if I apply for a personal loan with Best Egg?

Best Egg performs a soft credit check when you submit a pre-qualification application. However, if you are happy with your loan offer and choose to complete your application and finance a loan with Best Egg, a hard credit check will be performed.

What is the interest rate I would receive on a Best Egg loan?

As of June 2020, Best Egg’s fixed interest rate ranges from 5.99 percent to 29.99 percent APR. The national average interest rate for a personal loan is 9.41 percent; thus, if you have an excellent credit score you have a good chance of qualifying for significantly low rates in the industry.

How much can I borrow from Best Egg?

Best Egg offers loan amounts from $2,000 to $50,000.

How long will it take for me to receive my funding for my Best Egg loan?

The initial Best Egg application takes only minutes to complete. After approval and verification, funding can be dispersed in as soon as one business day.

What can I use my Best Egg personal loan for?

Best Egg personal loans can be used for a variety of reasons: debt consolidation, credit card refinancing, home improvement, moving loans, vacation loans, special occasions, etc. 

Some lenders have a stipulation that you must use funding for the reason specified in your application, but Best Egg allows you to use funding for whatever reason you see fit.

Does Best Egg have any fees?

Best Egg keeps fees low, but there are a few to be aware of:

• An origination fee of 0.99%–5.99% will be deducted from the loan amount deposited into your bank account.
• The late fee is $15.
• You will be charged a $15 return fee if payments can't be processed due to insufficient funds, bank account closures, etc.

It is important to note that Best Egg does not charge a prepayment penalty fee. Thus, borrowers are free to pay off their loan earlier than the termination of the loan term without consequence.

In addition, there are some personal loan lenders that do not charge a loan origination fee

Are Best Egg reviews positive?

Best Egg reviews are overwhelmingly positive — 92 percent of reviews are five stars. Customers consistently highlight how quick and easy the application and approval process is, in addition to great customer service. Many customers say that they would recommend Best Egg to their friends and family.

How does Best Egg compare to other personal loan lenders?

Many online lenders offer similar services to Best Egg and have many positive reviews. Differences between lenders generally comes down to the small details: credit score requirements, rates and terms, and fees. 

Best Egg’s minimum credit score is low in comparison to its competitors, and many online lenders do not charge any fees, including an origination fee. Best Egg also does not allow cosigners or joint applications, which could make it difficult for borrowers with poor credit to be approved. Many other lenders offer a cosigner option.

However, Best Egg’s rates are competitively low and the company offers superior customer service that many customers highlight.