Best Egg vs FreedomPlus

Kalicia Bateman
Kalicia Bateman | Contributor

Best Egg and FreedomPlus are ranked neck and neck on Bestcompany.com as the top one and two best personal loan companies in the industry. Both companies get glowing customer reviews and have similar features, yet there are a few defining characteristics that make them very different. Below are the defining characteristics that you should pay attention to:

  • States that support its services
  • Credit score minimums
  • Prepayment perks
  • Ability to cosign
  • Loan amounts
Best Egg logo verified_user
#1 Best Egg
9.9 Overall Score
4.9
star star star star star_half
(8,510)
FreedomPlus logo verified_user
#2 FreedomPlus
8.1 Overall Score
4.6
star star star star star_half
(2,122)

Overview

Best Egg

Loan Amounts

$2,000–$50,000

Loan Terms

36–60 Months

Min Credit Score

600

Joint Applications

Not Accepted

Time in Business

8 Years

FreedomPlus

$7,500–$50,000

24–60 Months

620

Co-Borrowers Accepted

17 Years

Ratings

Best Egg

Overall Score
9.9 of 10
Review Score
4.9
star star star star star_half
Value for Money
4.7
star star star star star_half
Quality of Product or Service
4.9
star star star star star_half
Company Trustworthiness
4.9
star star star star star_half
Likely to Recommend
9.7 of 10

FreedomPlus

8.1 of 10
4.6
star star star star star_half
4.1
star star star star star_half
4.3
star star star star star_half
4.3
star star star star star_half
8.1 of 10

Reviews

Best Egg

Number of Reviews
8,510
Review Breakdown
4.9
star star star star star_half
5 star
92%
4 star
7%
3 star
1%
2 star
0%
1 star
1%

FreedomPlus

2,122
4.6
star star star star star_half
5 star
80%
4 star
10%
3 star
2%
2 star
2%
1 star
7%

Reviews for Best Egg

Helpful Favorable Review

star star star star star

Neuron EdGe Havertown, PA

Application was smooth and easy, without a lot of unnecessary details requested (which are in the credit report anyway). After the first few online steps, they were honest with the amount I was pre-approved to apply for, and approved the loan in the same online session. Probably most unique was the fair interest rate(s) and the itemized payback options, allowing me to choose the best rate vs payback schedule. I even had a chance to log out, think about the rates, log back in, and complete later. Fantastic, straightforward experience!

1 day ago

Helpful Critical Review

star star_border star_border star_border star_border

Bulletproof X North Little Rock, AR

Don’t waste your time giving them your information. I had more than the require minimum credit score and annual income and still didn’t get approved. Misrepresenting their information about the minimum 600 and $35,000 annual income. Don’t let the good reviews fool you, they probably come from people who has 700+ credit scores. So if you have a 600- 650 mostly you won’t be approved.

2 months ago

Reviews for FreedomPlus

Helpful Favorable Review

star star star star_border star_border

Allez Cancún, ROO

The loan process is quick and more or less straightforward. Rates are high even for good credit. The process includes talking to someone on the phone more than once, which is fine. There is, however, one serious problem with this company and it is that they systematically fail to email statements, presumably in the hopes of collecting late payment fees. Another minor issue is that payments are made via ACH and take 3 business days, which is unnecessary. Overall, I may recommend this company but surely they could improve their practices.

3 days ago

Helpful Critical Review

star star_border star_border star_border star_border

joy musacchio Scottsdale, AZ

Adversarial, unempathetic and customer shaming. The rates are criminally high. You are better off using your credit card if you have one. Currently I have a loan with Consolidation Plus and I could have gotten a better rate with a loan shark. BE WARE

3 days ago

The Final Word

Overall, Best Egg and FreedomPlus offer very similar personal loans services with both thriving in customer service, ease, and transparency. Both companies are great options for those looking to get approved for a personal loan; however, there are a few small differences that may sway your opinion to do service with one company over the other. Here are the main differences between Best Egg and FreedomPlus:

Credit Score Requirements

For those with a low credit score, Freedomplus and Best Egg are both great options. Comparatively these two companies have some of the lowest credit score limits in the industry, making both a great option. 

However, the FreedomPlus credit score minimum is 620 whereas Best Egg is 640. These two minimums are close, but ultimately those with the lower credit score are more likely to get approved with FreedomPlus.

Prepayment Fees

Some personal loan companies will penalize borrowers for trying to pay off their loan early — an obvious frustration for those who have the money and the drive to get ahead of their payments.

FreedomPlus and Best Egg do not charge prepayemnt fees; however, Best Egg has a great benefit for those who do want to pay off their loan early.

Borrowers at Best Egg can receive a reduced rate if they make a consistent effort to pay off their loans early. This is a huge benefit to those who are aggressively trying to pay off their debt.

It should be noted that FreedomPlus gives the option to lock in interest rates, helping borrowers to not get tripped up in bigger interest rates down the road.

Customer Reviews

You won't find many complaints against Best Egg or Freedom Plus because customer reviews are extremely positive for both. Thousands of customer reviews give these companies 5/5 stars. Here on Best Company, we pulled the thousands of customer reviews to give you a rating break down for both companies:

Best Egg

  • 5 star: 91%
  • 1 star: 1%

FreedomPlus

  • 5 star: 80%
  • 1 star: 6%

Clearly, these reviews reveal that the majority of customers felt pleased with their interatctions between both Best Egg and FreedomPlus.

Cosigners

FreedomPlus does allow you to cosign with someone when you apply for a loan. This is a great benefit to you, the borrower, because you will most likely be offered slightly lower interest rates or other money saving benefits. These type of benefits are common because lenders see cosigning as a form of security. Putting two people under the shared responsibility of the loan repayment adds more security compared to a single borrower taking all the responsibility for the loan.

Best Egg does not allow cosigners for its personal loans, but it does allow you to make payments based on your household income instead of just individual income.

Limited Services in Certain States

FreedomPlus is able to offer loans in 35 states whereas Best Egg services 47 states and the D.C. area.

For a more comprehensive look at Best Egg and FreedomPlus, click on the company's name below to discover which company is right for you.

Top Choice

Best Egg Logo
Best Egg

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