Best Egg Loans?

[Anonymous]

Best Egg decisions for APR and interest rate as well as the origination fee (1-5%) seems to focus more on DTI then anything else. The rep a friend of mine talked to told him this. I know someone with almost the exact score that a mutual friend of ours got offered a much higher rate then the other. The major difference- the DTI.

As far as the documentation goes, the higher your rate, the more you are likely to have to provide. 

Just keep in mind if you receive one of these offers, having a high score in the 750+ doesn't  guarantee you an approval or a good rate- if your DTI is high, you might be out of luck for a decent offer. 

[Anonymous]

I received an invitation from Best Egg saying "pre-approved fix APR 5.99 %. and  my credit score is 7.10.  Now my questions are " Do ou think i can get approved or not and what are  the documents that i need to show, they dont ask for any, or they verify employment by ph?.  Someone help me please. 

[Anonymous]

no one has in answer?????

[_sidhe_]

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@Anonymous wrote:

This is probably too late for you, but others may want the info.  I would assume Best Egg is a hard pull because they ask for your SSN, while Proper and Lending Club, which use private investors, not a bank, only ask for your name and address and income.  If they're just doing a soft pull, they wouldn't need your SSN.

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This is just an FYI, in case any one wants to know but Prosper is a hard pull. I just got a loan with them in July, and it popped up on my credit report on within a day or two once I got far enough into it to do the paperwork/TIL/etc. If you're just checking the rates, it's a soft pull, but it's definitely a hard pull when the loan is being funded. It also uses WebBank. It's funded by investors but WebBank, as far as I can tell, maintains the payments and whatnot for Prosper.

[Anonymous]

What is the purpose of an egg loan?

[d170]

Isnt egg loan invite only?

[Anonymous]

How do they determine who they send the invite to?  I just got one.   I also got them from Lending Club and Prosper.   I've gotten quite a few from Prosper

[Anonymous]

I made the mistake of trying to accept my offer from BEST EGG Loans; their invitation is a teaser with a lower rate than Lending Club.  However, when they immediately responded with a 19.9% interest rate, I was shocked and called them.  They said it was based on my credit report, FICO score, etc.  I told them that it was definitely a teaser to get my info, and that I have a high credit score and it didn't make sense.  It also made no sense to accept a loan to consolidate credit card debt when most of my credit cards had lower rates.  Needless to say I told her NOT to complete the loan.  Instead I went to Lending CLub, and got the 6.03% rate they promised, at least initially, it appears that way.  Waiting for the final few steps before I get $$, but right now, I'd say BEWARE OF BEST EGG.  Too good to be true!

[Anonymous]

Worse customer experience ever.

So I called Best Egg because their website only gives you two options for a loan amount after you apply.  LendingClub gives you multiple options and the rates after you apply.

When I called in the customer service rep told me she'd have to do paper work to cancel my request so I can reapply with a different amount.  I said ok.  And she goes "Fine...this is ridiculous.  What's your name."  

At that point I told her I'm going with Lending Tree.  She said "No problem.  Bye."  

Yeah if that's the kind of customer experience I can expect...no thank you.  No one should ever go with Best Egg.

Oh and my FICO score is 770.  It's not too shabby.

[Anonymous]

Do they consider your DTI before or AFTER the loan if the funds are paying off the debt? thanks