Best Egg vs FreedomPlus

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
9.3 Overall Score
4.9
starstarstarstarstar_half
(7,803)
FreedomPlus logo verified_user
#2 FreedomPlus
7.0 Overall Score
4.6
starstarstarstarstar_half
(2,088)

Overview

Best Egg

FreedomPlus

Loan Amounts
Loan Amounts
$2,000–$35,000
$7,500–$40,000
Loan Terms
Loan Terms
36–60 Months
24–60 Months
Min Credit Score
Min Credit Score
640
620
Availability
Availability
47
35 + DC
Joint Applications
Joint Applications
Not Accepted
Co-Borrowers Accepted
Time In Business
Time In Business
7 Years
16 Years

Ratings

Best Egg

FreedomPlus

Overall Score
Overall Score
9.3 of 10
7.0 of 10
Review Score
Review Score
4.9
starstarstarstarstar_half
4.6
starstarstarstarstar_half
Value for Money
Value for Money
4.7
starstarstarstarstar_half
4.1
starstarstarstarstar_half
Quality of Product or Service
Quality of Product or Service
4.9
starstarstarstarstar_half
4.3
starstarstarstarstar_half
Customer Service
Customer Service
4.9
starstarstarstarstar_half
4.4
starstarstarstarstar_half
Company Trustworthiness
Company Trustworthiness
4.9
starstarstarstarstar_half
4.3
starstarstarstarstar_half
Likely to Recommend
Likely to Recommend
9.7 of 10
8.2 of 10

Reviews

Best Egg

FreedomPlus

Number of Reviews
Number of Reviews
7,803
2,088
Review Breakdown
Review Breakdown
4.9
starstarstarstarstar_half
5 star
91%
4 star
7%
3 star
1%
2 star
0%
1 star
1%
4.6
starstarstarstarstar_half
5 star
80%
4 star
10%
3 star
2%
2 star
2%
1 star
7%

Reviews for Best Egg

Helpful Favorable Review

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Karen S Mitchoff

June 19th, 2020 Lafayette, CA

I liked the application process. I needed more money and felt that my record indicates I have the ability to pay more money; however, I was happy to be accepted at the much lower amount because it will help me in the short term.


Helpful Critical Review

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BRENT KIMBALL

February 13th, 2020 Dallas, TX DETAILS arrow_drop_down
Value for your money
starstar_borderstar_borderstar_borderstar_border
Quality of product or service
starstarstar_borderstar_borderstar_border
Customer service
starstarstarstar_borderstar_border
Company trustworthiness
starstarstarstar_borderstar_border

Rates and original fee are way too high. You are my highest of all my loans ever. Never had an origination fee. I should have just gone through my bank which has much better rates and no original fee. I didn't recognize the security questions from my bank so I am worried that I am even going to get the money.


Reviews for FreedomPlus

Helpful Favorable Review

starstarstarstar_borderstar_border

Douglas C Meeks

April 20th, 2020 DETAILS arrow_drop_down
Value for your money
starstarstarstar_borderstar_border
Quality of product or service
starstarstarstar_borderstar_border
Customer service
starstarstarstarstar_border
Company trustworthiness
starstarstarstarstar_border

The approval process was about average, nothing outstanding, the fact that THEY pay off your cards/loans/etc instead of giving you the money and letting you do it might be good business but left a bad taste for me since none of their competitors do it. The WORST thing is a company this large and no Quicken support so 3 Stars is about as good as I can give it. Add that to the upfront fees payment and 3 Stars is a high mark


Helpful Critical Review

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CLINE Courter

June 30th, 2020 Spring Hill, FL DETAILS arrow_drop_down
Value for your money
starstarstarstar_borderstar_border
Quality of product or service
starstar_borderstar_borderstar_borderstar_border
Customer service
starstar_borderstar_borderstar_borderstar_border
Company trustworthiness
starstar_borderstar_borderstar_borderstar_border

I received a fairly decent deal on a loan. I was told by Alex that after 6 months of on-time payments they would lower my interest rates. I've called Alex about 10 times and he has yet to return my calls!


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.

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Best Egg
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