Best Egg is a new lending company that recently emerged in the consolidation industry. They offer personal loans to be used as a medium to consolidate high-interest credit card debt. Even though Best Egg doesn’t operate in the traditional debt consolidation sense, they do offer the opportunity to combine multiple credit payments into one monthly payment, even if the interest rate is less attractive than many of their competitors.

Best Egg

About Best Egg

As one of the newest debt consolidation companies, Best Egg is a personal loan provider that works to provide the lowest-interest rates and fees. Best Egg does not offer debt consolidation programs. Rather, Best Egg offers a personal loan to allow customers to consolidate their different debt accumulated into one monthly loan payment.

In most cases, the interest rates on the consolidation loans will be lower than the previous debt, but this isn’t always the case. Best Egg does not offer any other financial resources, but they also don't position themselves as a debt management or debt relief company, so this is to be expected. (Money Management, DebtGuru, Family Credit Management) contain hundreds of guides.

Basic Information

  • Address: 1523 Concord Pike, Suite 302, Wilmington, DE 19803
  • Web Address:
  • Date of Founding: 7/31/2013
  • Contact Number: (855) 282-6353
  • BBB Accredited? Yes, since 2014.

The Company

Best Egg have not been around for a very long time, but they have made a big impact in the small amount of time that they have had. They work with tens of thousands of customers every year and the fact that they are essentially a personal loan provider, as opposed to a debt management company, means they are also more profitable and have attracted more customers.

They are headquartered in Delaware and the CEO is a Mr. Jeffrey Meiler.

The Services

You can get a low interest loan from $2,000 to $35,000 on Best Egg, with an APR that tops out at 29.99% APR and can go as low as 5.99% APR. There is also an origination fee and fixed term plans, where the prices differ slightly. Learn more about the many different types of loan here, and click here if you are struggling to get a loan because of your poor credit rating.

The Reviews

It's rare to find a majority of positive reviews for any kind of financial company, let alone one that deals in loans. The majority of customers only leave reviews when they have something negative to say, and there is no shortage of ill-feeling when it comes to loans. But for the most part Best Egg have a very good reputation online and we have heard nothing but good things.

Just take a look at other score on the customer review site TrustPilot. At the time of writing they have 89% 5 star reviews with only 3% of reviewers scoring them “Good” to “Poor”. That's fantastic in anyone's book, and while these review sites aren't always as transparent as they make out, it's fair to say that there is no ambiguity when you're dealing with such a significant score.

Our Best Egg Review

Best Egg have time to grow as a company. They have not been around a very long time and in an industry that is dominated by companies that have been around for 20, 30 and even 60 years, that makes them relative newcomers. It may be interesting to see where this one goes, but in our Best Egg review we're going to focus on the here and now.

Best Egg Help

The Good

  • Easy application process
  • Fast loan funding
  • Multiple lain types

Easy Online Application

The online application is easy to navigate and quick to fill out. The process starts out with some personal information to set the account up, which is guaranteed to be safeguarded. Following this, you select the type of loan you will need. In the end, you will look over the details of your selections and confirm the application to proceed.

Approvals generally take two business days to go through. If you are having financial problems with debt, personal/consolidation loans could be a viable option to follow through on. You should also take a peek at our guide to getting out of debt quickly (see here) as well as our article on the many different types of loan that exist right now.

The Bad

  • High interest rates
  • Less than five years in the industry
  • Customer complaints

High Rates

Best Egg is not a debt consolidation company. Unfortunately, this becomes apparent from their unusually high fees and interest rates offer they offer. Specifically, they charge 1 to 5 percent of the loan amount. On top of that, interest rates can be seen as high as 29.99 percent. Clients looking to enroll with Best Egg should proceed with caution.

New to the Game

The company only has four years of experience with no certified debt counselors on staff, no credentials, no money-back guarantee, and no ISO accreditation. Without the ISO certification – there is no guarantee that any sort of independent auditing is taking place. These are all major downfalls with Best Egg.

Best Egg Review

Customer Complaints

Customer complaints tend to center around their high-interest rates offered on loans. There are several examples of potential customers receiving quotes of interest rates higher than the ones they received from their creditors. In these cases, going with Best Egg would leave customers in a more difficult position than before.

The Bottom Line

Overall, if you know someone with good credit but is struggling to keep up with their credit card debt, Best Egg could help by lowering their monthly payment to get out of debt faster (usually between 3 and 5 years). Although this can be helpful for some, the truth is, using a personal loan to consolidate debt isn’t the most cost efficient way to do so. We do not recommend Best Egg for debt consolidation at this time.