We investigated Best Egg's licensing, security practices, BBB rating, and real customer complaints to give you a definitive answer.
✅ Yes, LegitimateWiseIQ Verdict
6.99%Starting APR
600Min Credit Score
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✅ WiseIQ Verdict
Best Egg is a legitimate, licensed lender. They are registered with state financial regulators, use 256-bit SSL encryption, and are accredited with the Better Business Bureau. While they have some customer complaints (as most lenders do), there are no major fraud patterns or regulatory actions that would indicate a scam.
WiseIQ Expert Tip
Financial decisions made with complete information consistently outperform those made under pressure or with incomplete data. Take time to compare at least 3 options before committing.
Trust Signals We Verified
CFPB Complaint Data — Best Egg
0.54
Complaints per 1,000 customers
Moderate complaint rate
92%
Complaints resolved timely
487
Total CFPB complaints (2024)
Most common complaint type: Problems when you are unable to pay. Data sourced from the CFPB Consumer Complaint Database. Complaint rate calculated using publicly available complaint counts and estimated customer base from company filings. A lower rate indicates fewer complaints relative to customer volume.
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Issued by Cross River Bank and Blue Ridge Bank (FDIC insured)
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BBB Accredited Business
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256-bit SSL encryption
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Founded 2014, over $10 billion originated
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Licensed in all states where it operates
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Secured loan option available
Things to Know Before Applying
Origination fee of 0.99% to 9.99% applies
APRs can reach 35.99% for lower credit profiles
Minimum loan of $2,000 (can't borrow less)
No co-signer option available
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Upstart is a strong alternative to Best Egg, especially if your credit score is below 600. Upstart has no minimum credit score, offers loans up to $75,000 (vs Best Egg's $50,000), and uses AI-based underwriting that considers your education and work history. Check your rate with no credit impact.
Best Egg has 487 complaints in the CFPB database for 2024 — a moderate complaint rate — typical for a lender of its size. The most common complaint type is "Problems when you are unable to pay". 92% of complaints were resolved in a timely manner. View complaints directly →
Who Should NOT Use Best Egg
Borrowers who want the absolute lowest rate available — Best Egg is not always the cheapest option for borrowers with excellent credit (720+). Compare with SoFi and LightStream if your score is above 720.
Borrowers who need a co-signer — most online lenders, including Best Egg, do not accept co-signers on personal loans.
Borrowers in states where Best Egg is not licensed — verify availability in your state before applying.
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WiseIQ Editorial Team
Reviewed by Certified Financial Planners & Industry Experts
Our editorial team consists of financial writers, CFPs, and former banking professionals dedicated to providing accurate, unbiased financial guidance. All content is fact-checked and updated regularly. Learn about our editorial standards →
Frequently Asked Questions
Is Best Egg a legitimate lender? +
Yes. Best Egg is a legitimate online lender that has originated over $10 billion in loans since 2014. Their loans are issued by Cross River Bank and Blue Ridge Bank, both FDIC-insured.
Does Best Egg offer secured loans? +
Yes. Best Egg offers secured personal loans backed by home fixtures or a vehicle. Secured loans typically come with lower APRs than unsecured loans.
What credit score do you need for Best Egg? +
Best Egg requires a minimum credit score of 600. Borrowers with higher scores (700+) qualify for the best rates.
Does Best Egg do a soft pull? +
Yes. Best Egg performs a soft credit pull when you check your rate, which does not affect your credit score.
Is Best Egg FDIC insured? +
Best Egg loans are issued by Cross River Bank and Blue Ridge Bank, both of which are FDIC insured. Best Egg itself is a financial technology company, not a bank.
WiseIQ may earn a referral fee from some lenders on this page. This does not influence our editorial ratings or recommendations. Our reviews are independently researched and editorially independent. Updated April 08, 2026.
WISEIQ TOP PICK
Upstart
Personal loans for all credit types · No min. score required
✅ No minimum credit score
✅ AI-powered approval (uses education + work history)
✅ Funds in as little as 1 business day
✅ $1,000 – $75,000 loan amounts
✅ 3 or 5 year terms
✅ No prepayment penalty
⚠️ Origination fee: 0% – 12%
People Also Ask
Best Egg is a legitimate financial services company. Always verify a lender is registered in your state, check their BBB rating, read recent customer reviews on Trustpilot and Google, and confirm they are FDIC-insured or work with FDIC-insured banks before applying.
Credit score requirements vary by product and lender. Many lenders now use alternative data alongside credit scores to evaluate applicants. Pre-qualifying takes just minutes and uses a soft credit pull that won't affect your score — it's the best way to see if you'll be approved.
Most online lenders can provide a decision within minutes of submitting your application. Funding typically takes 1–3 business days after approval. Some lenders offer same-day or next-day funding for urgent needs.
Common fees to check: origination fees (0–8% of loan amount), late payment fees, prepayment penalties, and annual fees. The best lenders are transparent about all fees upfront. Always calculate the total cost of the loan, not just the monthly payment.
Upstart