Our rating is based on a combination of expert staff and user ratings.
- Good For Credit Card Debt Consolidation
- Fast Loan Disbursement
- High-Income Requirements
|APR||5.99% – 29.99%|
|Loan Amount||$2,000 – $35,000 (Some customers may receive snail mail offers for loans up to $50,000)|
|Loan Duration||3 or 5 years|
Best Egg is a trademark of Marlette Funding LLC, however, the loans are funded by Cross River Bank, a New Jersey Chartered Commercial Bank. Headquartered in New Jersey, the bank has branches and ATMs across New Jersey and New York.
If you’ve got good credit and need cash fast, a Best Egg loan might be for you. Also, having a lengthy credit history of at least 7 years with no delinquencies and a low debt to income ratio will get you the best interest rate, which can save you money throughout the duration of your loan.
Most customers use their Best Egg loan to fund a big expense or to consolidate their credit card debt. Getting a Best Egg personal loan for credit card debt can be a great way to get a better interest rate and save money in the long run. Because of the fees associated with this loan, the ideal borrower is someone who is good at keeping track of their payments and making them on time or someone who is comfortable automating their payments.
How to Qualify
Qualifying for a Best Egg Loan is very similar to qualifying for other financial services. Having a good credit score, long, stable credit history and a verifiable income will help you qualify for a larger loan with a better interest rate. Best Egg requires an annual income of $130,000 to qualify for a loan of $50,000. Borrowers can’t have more than two open Best Egg Loans at any given time, and in order to get that second loan, your first loan must have been open for at least six months. Your total Best Egg balance can’t exceed $50,000.
Unlike many of its personal loan competitors, Best Egg charges fees for originating the loan and for late fees or returned fees. If you have a history of not making payments on time it’s unlikely you would qualify for a Best Egg loan, but the late fees are something to keep in mind when choosing a loan. You’ll also have to pay an origination fee of approximately 1% up to 6% which can be quite a chunk of change to add to the balance of your loan.