Best Egg

Review: Beware!! This company looks like a modern approach to debt consolidation, that skips all of the red tape of skittish and overly bureaucratic banks. Don't be drawn in--I was. The representative I questioned at the outset lied to me by telling me the company would do a soft pull on my credit, even though I asked specifically if my credit would be harmed by the inquiry. Then, after my loan was denied, I was told that they do not consider household income in making a loan. If I had known it would be a hard inquiry, I would not have applied at all. And if I had known they don't consider household income once I applied, I would have asked for an amount more in keeping with my individual income. This company conceals important information from the consumer, so that he/she cannot make an informed choice about whether or not to apply, and for how much. In my book, these are duplicitous practices which should be made public by those who are hurt by them, hence my Revdex.com complaint.Desired Settlement: I would like the company to remove its inquiry from my credit report because the application was made under false pretenses. I spoke to a company representative on June 9, 2014, I unfortunately don't have his name. But that representative lied to me about the impact of the application. On July 8, however, I spoke to a manager named Eric at Best Egg to make known my dissatisfaction with the company's practices. I was hurt by the inquiry because it affected my relationship with American Express.

Business

Response:

[redacted]

This letter is in response to the above referenced consumer complaint. [redacted] indicated in her

complaint that she had been misinformed as to whether her application for a Best Egg loan would cause an

inquiry to be placed on credit bureau file and if household income would be considered as part of her

application. Thank you for giving me the opportunity to respond.

This matter was escalated to our operations management team prior to receipt of your complaint. We

reviewed our records and listened to the calls between [redacted] and our representative. Our call

center did not provide adequate customer service. We train our representatives and gives them procedures

to insure customers understand our application process, know what information will be requested from the

credit[redacted] bureaus and how it will be reported on their credit bureau report. We reached out directly to [redacted]

r and apologized to her for her experience.

[redacted] asked us to submit a request to Experian to delete the inquiry on her credit bureau

report. We provided her with written documentation that we submitted the request and acknowledged that

she would not have made an application for a loan but for the fact that she was told the credit bureau inquiry

would be a “soft inquiry” on her credit bureau file. We have taken steps to address this matter with our

phone representatives.

We also regret any confusion about if household income would considered as a part of [redacted]’s

individual loan application. We have sought to make this point clear to prospective customers though the

disclosures on our offer letters and on our website. We have taken steps to make this more clear throughout

our solicitation and application process.

It is my hope that this letter explains and resolves this matter. If you have further questions, please feel free

to contact me

I will admit I was skeptical at first because it seemed too easy to be true. But the process was exactly as advertised. The online process was extremely smooth from the time of application to the money being in the bank. The money was in my account within 48 hours. I was amazed at the quick process.

So simple and private. very fat

I have been trying to reach best egg for a month to speak to a real person to get my loan automatic payment date changed- I do not have my account number because I was enrolled in paperless billing. When the "enter your account number" prompt comes up when calling the 855 number, I don't enter anything, and the automated voice says "connecting you with customer service".... Then a busy tone. Every.single.time. I would really, really appreciate it if someone would contact me. Super frustrating.

I received a 'pre-screened approval offer' from Best Egg as well. So, on 04/2/15 I went online and filled out the app...I was approved for more than the amount I requested, at an interest rate of 11%, which isn't great but isn't bad either; so far not too bad. Before I clicked on the 'see loan rates' tab [or whatever it's called], in big bold print it specifically said "this will not reflect/affect your credit score." As of yet, I have not checked my credit report to see if this is indeed the truth, but once I do, and if it is reflected on my report as a negative hit, I will be back to write another scathing review. So obviously, the aforementioned was not the issue for me, but what swa is this: as noted above, the interest rate is 11%, however, on the approval page it also said there is a 13.9% APR on TOP of the 11% rate....call me ignorant, but I don't understand this, and I view this 'offer' as a scam. So essentially, what NE is offering is an 11% interest rate, on TOP of which I'm also paying a 13% APRt???? I've had quite a few loans in my life, and have never seen such a thing. I called New Egg's customer service number to get a clearer explanation, and the rep basically mumbled and side-stepped my question(s) without answering or explaining the details, terms, fine print, and why there are 2 different rates. He did however tell me, as if it was some huge incentive, that there is a "3 day grace period, and only a $15 charge per incident if one goes past the 3 days"...wow, what a bonus, let me sign on the dotted line now! And also, as one other reviewer wrote, there is a $500 processing fee!?!?! So needless to say, I most likely won't be using this loan, however, I am interested in getting some stuff paid off quicker than can be done with a regular credit card, and plan to shop around for a better and more clear rate than that offered by NE, so, if their loan approval did ding my credit and affects my ability to get a loan somewhere else at a better rate, as said, I will definitely be back!! Ultimately, NE needs to be clearer on their interest rates, train their employees better, and stop trying to scam people in with the 5.99% offer which, in reality, is most likely offered to one in ever 5,000 niave consumers...having said that, I would like to see their statistics in terms of how many consumers, out of all of those who apply, actually are offered the 5.99%. And I guarantee, even if these [stats] would be requested from the company, they would never ever produce the results! Instead, they'd rather sucker people in, and then offer them a loan that has both an interest rate AND an APR!!!!

Best Egg uses deceitful pratices phishing for new customers. I received a letter stating I was pre-approved for a fixed rate, no-collateral loan. After completing the online application, within less than 3 minutes it came back saying it was not approved. I phoned the company to see if they had pulled a hard credit report and if this was a joke. I was informed they did since I had provided my information. I asked that it be removed because I only provided my info because I was pre-approved. I was told "I had a high credit score that's why it was sent to me but they didn't know why my request was denied, just wait for the letter." Don't fall for this type of phishing. Now I believe they get your information just to sell it or store it, but it's not good. DO NOT RESPOND, NOT REAL. AND IF IT IS REAL, CONDISDERING THE OTHER REVIEW, WHO WOULD ACCEPT A LOAN WITH AN INTEREST RATE OF 25%? CRAZY

Best Egg was fast, efficient and attentive to processing loan application to loan approval within minutes.

Review: This company has harassed me by mail for about a year. I called them to inquire about their rates and could not get a straight answer out of them. I decided to use Discover Loans that same day and was approved immediately. I read the negative remarks about them and the one that really concerns me is that they give your name and number to another branch or company that calls your number. I just reported these numbers to the governments NO CALL LIST which my cell phone is listed. I would like you to contact BEST EGG and tell them to make sure that they never contact me and no third parties contact me. I worked for a law firm for many years and have no problem suing them.Desired Settlement: I would like you to make sure they never give out any number to a third party. Bad practice. They are asking for a law suit.

Business

Response:

Mr. [redacted]-Thank you for sharing your concerns. I want to assure you we do not share your information with any third parties. I have addressed this with the applicant who submitted that review to their satisfaction. I have added you to our "do not solicit" file to ensure you do not receive future loan offers from Best Egg. Please reach out with any further questions.

It was amazingly easy to submit application and to receive funds , which I needed to consolidate credit card debt and get myself out of this endless payment cycle. Representatives were extremely nice. No strings attached, just a simple loan process. I consider myself fortunate to find BestEgg.com. I'll be out of debt in 3 years.

Review: For over six months I have repeatedly tried to stop unwanted advertising / loan application mailed to my home. the more I call to have mailing stop the more mailing I get. It started with 1 every other week, I'm now receiving 3 per week. I also get 3 to 4 phone calls every day. I have asked repeatedly to stop, I don't want their services. I want them to take me out of their system and never contact me again.Desired Settlement: I don't want their services. I want them to take me out of their system and never contact me again.

Business

Response:

Dear [redacted],Thank you for sharing your concerns and allowing me torespond! We were unable to locate any record of your request to ceasereceiving future offers so I added you to our “do not solicit” file withimmediate effect. Please be advised it can take up to 30 days to stopreceiving mail offers. Please feel free to contact me directly with theinformation I left on your voicemail. Thank you!

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me ONLY if mailings AND phone calls stop!

Best Egg was an easy no hassle loan. I could not believe how easy it was to get the loans and the funds were available immediately.

Review: I filled out an application for a loan and was told I didn't qualify because of something on my credit report, I have sent in a dispute to Experian about the listing because it was a bogus lien by the State of New York and I was refunded all the money they had assessed that I owed them and of course the State of New York will never say it was wrong. But that happened in 2011 and all of my other accounts have been without a late payment and I feel that I was misled especially since I have read about all these other people on your site and how they never really had any intention of giving the amount they told us or at the rate specified. I would like it taken off my credit rating that I even applied for it.Desired Settlement: Correction to my credit reports

Business

Response:

Dear [redacted],Thank you for taking the time to share your concerns and

allowing me to respond! I apologize that we were unable to make you an

offer at this time. The concept of pre-approval for a Best Egg loan is

predicated on information we obtain from the credit bureaus and our credit

criteria. Once you apply, we make credit decisions based on your credit history

and the information provided in the loan application such as income, employment

and other key financial ratios. I can assure you that there was no impact to

your credit rating as a result of your application as we only facilitated a

“soft pull”. I would be more than happy to discuss your individual

application with you at your earliest convenience, please feel free to contact

me with the information I left on your voicemail. Thank you!

Gosh, that was a very easy process. I have had a life-changing event that has increased my credit card balances. To consolidate the credit cards into one payment, one interest charge will make all the difference for me.

Review: I applied for a loan and received the e-mail going over the terms of the loan I noticed there was an origination fee that came off the top of the loan. I called customer service inquiring regarding the origination fee and the amount I needed to pay back to Best Egg. I have had payday loans before where they take the amount off the top of loan but when the account is paid you pay the balance that was deposited into your account i.e loan amount $300 deposited into account $250. When it came time to pay the loan the amount of $250 is withdrawn not $300. I asked the agent if this is how this loan is handled he said yes I asked twice the amount that needed to be paid off and read him the amount that would be deposited in my account he confirmed yes that is the pay off amount.

So I accepted the loan offer based on his response.

When it came time to make my first payment I established my on-line account and it said on my account my pay off loan was for the whole amount plus interest that had accrued. When I called to inquire about why the amount was different than what was told to me over the phone by the customer agent the person I spoke to said I accepted the loan terms and I should've read my contract. When I explained that I called and needed direction regarding the loan terms and origination fee the agent still said the same thing.

I asked to speak with a supervisor to discuss the issue I was sent to voice mail. The supervisor did not call back I called the company 3 additional times before I finally got to speak with a supervisor. The supervisor explained the origination fee to me which I understood they way she explained it to me. I explained to her that when I called before accepting the loan terms and had asked for guidance I was given the wrong information. I explained to her that I know calls are recorded and monitored for quality purposes I suggested that they get the recording of the conversation. I explained to her that I thought the practices were predatory as I had called to get information regarding the loan to make sure I understood it correctly and was given the wrong information. She explained it may take a couple of business days to get the recording and review it.

I waited 3 weeks before calling the company back because I hadn't heard anything. Again I was told the supervisor would call me back. I waited another 3 days no call. Spoke with the supervisor finally after I called the company no return call from them.

She then proceeded to tell me I was responsible for the whole amount. I had to explain to her again what we had discussed about the wrong information given to me and the recorded call. She then said she didn't have the recorded call information and that usually the company is very quick to getting that. She said she would put in another request and review it.

I believe this company is a predatory lending operation.Desired Settlement: I would like the company to make a billing adjustment because the information I called specifically to be explained to me was given to me incorrectly.

Business

Response:

Dear [redacted]Thank you for taking the time to speak to me and allowing me to respond to your concerns! As discussed, we will be making an adjustment to your account as a result of the misunderstanding in regards to the origination fee. I apologize for any inconvenience this may have caused and would like to assure you that the agent is being addressed as a result. Please feel free to reach out to me directly with any additional questions or concerns!

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.

easy transaction, friendly knowledgeable customer service. One surprise way the fee came out of the amount I was asking, so add on some money to your request if you want a specific amount.

I have had nothing but great things to say about this company to my friends!! They were nothing but courteous and upfront about everything! My initial contact was with a [redacted], she was very helpful and willing to be patient with me to walk me through the process! Those who had anything less to say about this company is far beyond me! My experience was pleasurable and comfortable!! Glad I connected with them, and not to mention they are saving me over 700 dollars a month...

I just a quote for a loan, put in $14000, they said I would be approved for $12500, not a problem, the interest rate they quoted me WAS 29.9%, way higher than most of my credit cards!!!!! What a joke, and worst part is they have my phone number now, if I get any calls from them other than me telling them to go away, I will put them on call block. Another bad thing is I probably got a hit on my credit report which will hurt my score.

Review: I applied for a loan and when I decided against it. Best Egg keeps calling me and harassing me every week. I have asked them to remove me from their list, but I am still receiving calls from them. Today I asked for a Supervisor and they would not let me speak with him. I spoke with a person by the name of [redacted]. The Supervisor's name is [redacted]. I would like them to STOP calling me.

Business

Response:

Dear [redacted],Thank you for taking the time to speak to me! As

discussed, you have been added to our “do not solicit” file as of

11/18/2015. You will no longer receive any calls. Per your request,

I have cancelled your loan application. I apologize for any inconvenience

this may have caused. Please feel free to contact me directly with any

additional questions or concerns. Thank you!

Review: I have asked not to continue to receive the mail I get from Best Egg. I contacted the Chief Operating Officer, [redacted], who assured me all mail would stop. I was returning all of their mail to them in their prepaid envelopes. However, they have now begun sending mail for me to call or log online, so I can no longer return their junk mail to them at their expense. I made it clear to Mr. [redacted] that I would continue to do that until the mail stopped or that I would report his company.Desired Settlement: I would like an apology, and no further contact. I would love to see the amount of actual cost to develop, prepare, print, and mail the number of offers that have been sent to me turned into actual cash that would go to a homeless shelter or medical clinic, but don't expect any such outcome.

Business

Response:

Dear [redacted],Thank you for taking the time to speak to me! As discussed,

you were added to our “do not solicit” file on 9/23/2015 per your request

received by [redacted]. As he stated in his email response to you, there is

potential that you could receive additional mail pieces as a result of our mail

being initiated at our print vendor prior to receiving your request. You will

not receive any additional mail pieces from any future

campaign. I apologize for any inconvenience this has

caused. Please feel free to contact me directly with any additional

questions or concerns. Thank you!

Review: Continually get letters saying 'You are Pre-Approved for $xx,xxx. When you complete the submittal form, you never get the loan amount that you are 'pre-approved' for. My credit rating keeps going up, so you can't tell me that the offer was mailed out and then my credit score ultimately disqualified me from my pre-approved amount. Plus not did the results from my submission form come back with a significantly less amount for actual approved amount, the interest rate was DOUBLE any credit card rates out there.

This is a complete scam. I cant believe they are in good standing with the Revdex.com.Desired Settlement: Stop advertising 'Pre-Approved'.

STOP sending me offers in mail.

Don't call me.

Don't email me.

Delete my SSN and contact information all together.

Business

Response:

Dear [redacted],Thank you for sharing your concerns and allowing me to respond! First, I would like to thank you for your application! I am sorry we were not able to offer you a loan that fitsyour current financial needs. Many factors are considered when determining the appropriate rate of interest for each loan. These factors include a review of your credit history, key financial ratios and informationthat was provided on your application such as income and employment. Per your request, I have canceled your application and added you to our “Do Not Solicit” file. You may receive mail solicitations for up to 60 days as aresult of us initiating mail at our print vendor prior to receiving your request. I apologize for any inconvenience this may have caused. I would be happy to discuss your individual application with you at your earliestconvenience. Please use the personal contact information I left on your voicemail. Thank you!