Best Egg is a new and exciting lender to have 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

  • A very easy application process
  • Fast loan funding
  • Multiple loan types available

Easy Online Application

The online application process for Best Egg is very easy and won't take you more than a few minutes to complete. The process begins with the prospective client inputting some personal information, which is guaranteed to be safeguarded at all times. Following this, they are asked to select the type of loan they will need. In the end, they just need to give everything one final look and then confirm it.

If you are having financial problems with debt, personal/consolidation loans could be a viable option, and the speed at which they go through can be very helpful. 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. There are many options at your disposal and Best Egg isn't necessarily the only one or the best one, but it's certainly one that you should consider.

The Bad

  • High interest rates
  • Not as experienced as many of their rivals
  • Stacks of customer complaints

High Rates

Best Egg is not a debt consolidation company, that needs to be made clear right from the off. Unfortunately, this becomes apparent from their unusually high fees, as well as the interest rates they offer. Specifically, they charge 1 to 5 percent of the loan amount. On top of that, interest rates can be as high as 29.99 percent. As a result, clients looking to enroll with Best Egg should proceed with caution.

There are many better options and cheaper options out there, and Best Egg should really only be considered if those options are (for whatever reason) not available. On the one hand, it's a great option when compared to bankruptcy and it is certainly a better option when compared to payday loans and prolonged debt. But in our opinion it's not quite as helpful as many debt management plans.

New to the Game

Best Egg only has a few years of experience in this sector, making them a relative newbie, and they have no certified debt counselors on staff, no credentials, no money-back guarantee, and no ISO accreditation. In other words, it doesn't look good for them when you compare their credentials and their experience to the average debt management company out there.

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 and they will no doubt raise a number of concerns with prospective customers.

Best Egg Review

Customer Complaints

There are a lot of complaints out there from formerBest Egg customers, and these tend to revolve around their high-interest rates and their other fees. There are several examples of customers receiving quotes that are a great deal higher than what they have been offered elsewhere.

In these cases, going with Best Egg would leave customers in a more difficult position than before. After all, the last thing that you want to do when you're heavily in debt and struggling to make ends meet is high interest rates and additional fees.

As far as we can tell, Best Egg go to great lengths to resolve these complaints and to deal with negative reviews that have been posted. However, not all of these have been responded to and resolved, and there are a disproportionate number of them out there. When you consider that some companies in this sector have nothing but great reviews and happy customers, this is a major concern.

The Bottom Line

Overall, if you know someone with good credit who is struggling to keep up with their credit card debt, Best Egg could help by lowering their monthly payment and helping them to get out of debt faster (usually between 3 and 5 years).

But while this can be helpful for some, the truth is, using a personal loan to consolidate debt isn’t the most cost efficient way to get back into the black. It lacks the low fees provided by those in the debt management industry and it lacks the continued support and assistance that customers would get with debt settlement companies. If you opt for Best Egg then you're clearing your debts, but you're doing so with the assistance of a large debt, one that doesn't have the best rates, one that can lead to problems if it goes awry, and one that leaves you to deal with your debts and your issues on your own.

We do not think it is the best option by the long way. Instead of signing up to Best Egg, try giving a debt relief company a call (nearly all of them provide a free consultation) and see if they can help you. If you would like to know how their services compare to the services provided by Best Egg, then ask them outright and they will tell you. If you use a good company (look for the ones we have rated 4/5 or 5/5) then they will be honest and upfront. They may even tell you that debt relief is not the best option and that you are better off with a loan from Best Egg, although in most cases this will only be true if your debts are not big enough to qualify for debt relief.