How to Pay Your Best Egg Loan on Time

How Best Egg Payment Works

Best Egg is a personal loan company, not a bank or utility. When you borrow from them, you receive a lump sum of money upfront, and then you make monthly payments back to Best Egg until the loan is paid off. The payment amount, due date, and payment methods available to you are set when you take out the loan and appear in your loan agreement.

Best Egg lets you pay through their online portal, automatic bank transfers (ACH), or by phone. Most borrowers set up automatic payments so the money leaves their bank account on the same day each month without them having to remember. If you miss a payment or pay late, Best Egg reports this to the credit bureaus, which can lower your credit score and make future borrowing more expensive.

Key Takeaways

• Best Egg payments are made through their online account portal, automatic ACH transfer from your bank, or by phone, and the due date is set in your loan agreement.
• Setting up automatic payments prevents missed payments and the credit damage that comes with them, since late payments stay on your credit report for seven years.
• If you cannot make a payment on time, contact Best Egg before the due date to discuss options rather than waiting until after you miss it.
• Your monthly payment amount is fixed for the life of the loan unless you refinance, so your payment will not change even if interest rates rise.

Setting Up Automatic Payments

Automatic payments are the most reliable way to ensure your Best Egg loan payment leaves your account on time every month. You can set this up through your Best Egg account online by linking your bank account and selecting the payment date. Best Egg will pull the payment automatically using ACH, which typically takes one to two business days to process.

Choose a payment date that falls a few days after you normally receive income—paycheck, benefits, or other regular money. This reduces the risk of overdrafting your bank account if the payment pulls before money arrives. You can change or cancel automatic payments at any time through your account, though Best Egg recommends keeping it active to avoid accidental late payments.

Making a One-Time Payment Online or by Phone

If you prefer not to use automatic payments, you can log into your Best Egg account and make a manual payment whenever you choose. The online portal shows your current balance, interest accrued, and how much of your payment goes toward principal versus interest. You can pay more than the minimum monthly payment at any time without penalty, which reduces the total interest you pay over the life of the loan.

To pay by phone, call Best Egg's customer service number listed on your loan documents or billing statement. Have your account number and bank information ready. Phone payments typically process within one to two business days, so call at least three days before your due date to ensure the payment arrives on time.

What Happens If You Miss a Payment

A payment is considered late if it does not arrive by the due date shown in your loan agreement. Best Egg may charge a late fee, which is added to your balance and increases what you owe. More importantly, a late payment is reported to the three major credit bureaus (Equifax, Experian, and TransUnion) and remains on your credit report for seven years, even after you pay it.

If you are more than 30 days late, the damage to your credit score is significant and can affect your ability to borrow money, rent housing, or even get certain jobs. If you know you cannot pay by the due date, contact Best Egg immediately—before you miss the payment. Some lenders offer hardship programs or temporary payment deferrals, though Best Egg's options depend on your specific situation and loan terms.

Paying Off Your Loan Early

Best Egg personal loans do not have a prepayment penalty, which means you can pay off the entire loan balance at any time without extra fees. Paying early saves you money on interest because you are paying down the principal faster. To pay off your loan completely, log into your account to see the exact payoff amount, which includes any interest accrued through your payoff date.

If you receive a bonus, tax refund, or other lump sum of money, putting it toward your Best Egg loan reduces the total cost of borrowing. Even small extra payments add up over time. Some borrowers make bi-weekly payments instead of monthly, which results in 26 half-payments per year (equivalent to 13 full monthly payments) and shortens the loan term.

Changing Your Payment Date or Amount

Your monthly payment amount is fixed when you take out the loan and does not change unless you refinance with Best Egg or another lender. However, you can change the date your payment is due by contacting Best Egg customer service. If your payday shifts or your budget changes, moving your due date to align with your income can make payments easier to manage.

Some borrowers refinance their Best Egg loan with a different lender to lower their interest rate or extend the loan term (which lowers the monthly payment but increases total interest paid). Refinancing is a separate loan that pays off the original Best Egg loan, so you would then make payments to the new lender instead. Compare offers from multiple lenders before refinancing, since each application triggers a hard credit inquiry.

Frequently Asked Questions

Can I pay my Best Egg loan with a credit card?

Best Egg does not accept credit card payments directly. You can pay through their online portal, ACH transfer, or phone using a bank account. Some people use a credit card to transfer money to their bank account first, then pay Best Egg from that account, but this adds fees and delays.

What if I want to pause or skip a payment?

Best Egg does not offer payment skipping or pausing as a standard feature. If you are facing hardship, contact them to discuss options before you miss a payment. Some lenders offer forbearance or deferment, though these typically extend your loan term and increase total interest owed.

Does paying early hurt my credit score?

No. Paying early or paying more than the minimum does not harm your credit. In fact, paying on time and reducing your balance improves your credit over time. Your credit score benefits from on-time payments and a lower debt-to-income ratio.

How do I know how much interest I am paying?

Your loan agreement shows your interest rate and the total interest you will pay over the full loan term. Each month, your statement breaks down how much of your payment goes to interest versus principal. As you pay down the balance, less of each payment goes to interest and more goes to principal.

What if my bank account information changes?

Update your bank account in your Best Egg account online or call customer service to provide new account details. If you do not update it before your next automatic payment is scheduled, the payment may fail and be reported as late. Make changes at least five business days before your due date.