Best Egg Personal Loans: A comparison with other options!
Best Egg personal loans are for the borrowers who have a good credit score and want to settle their debts. These loans are best for those who have a good credit track record with a minimum score of 640. The borrower should have an unobjectionable credit history that goes back seven years.
Who Should Apply for Best Egg Personal Loans
Borrowers with a steady income earning at least $60,000 a year can apply for these loans. This means you need a high income since the national median is only $53,657. Those who urgently need cash will benefit greatly from these loans since the funds are usually disbursed in one working day.
However Best Egg personal loans do not come with a plan to enable users to pay off the debt and keep them on the right track so it is only suitable to those who can plan and manage their repayment. Most of the borrowers choose this loan to settle their credit card debt or pay for large expenses with an average value of $15,000.
An average Best Egg personal loans customer receives an APR of 15% however if their credit score is higher than the rate can be as low as 10%. However, the lowest rate is 5.99% and that is for those who have a minimum credit score of 700 and a minimum annual income of $100,000.
Best Egg Personal Loans vs. Others
Borrowers who have an excellent credit score and a large income should go for the Best Egg personal loan. It is a good option for those who are disciplined enough to consolidate their own debts and do not require additional support and schemes from the lender to make it easier for them to pay off the amount.
Payoff personal loans are another type of loan that is for borrowers with good credit scores. It is especially for those who want to consolidate their credit card debts and required a tailored plan and guidance so they can manage the payments.
Discover also offers their good-credit customers the option to pay off the creditors directly making sure that the loan is used to consolidate debts only. Consumers have full access to their credit scores.
Upstart loans are for the borrowers with a thin credit file. They can use co-signers to establish a line of credit using this loan option.
How to Apply for a Best Egg Personal Loan
You can use the Best Egg website to apply for this loan. The entire application is available online and the pre-qualifying round does not have any effect on the credit score.