A Best Egg loan may impact your credit score in several ways:
Possible Positive impacts:
- Making consistent on-time payments may help build your credit.
- Paying down other debts (e.g., credit cards) may reduce your utilization.
Potential negative impacts:
- A new account increases your total debt.
- A hard credit inquiry may cause a temporary dip in your score.
Best Egg does not guarantee loan approval or specific outcomes related to your credit score. Everyone’s credit profile is different, and the impact on your credit score will vary based on your overall financial history and behavior. To get a better understanding of your specific situation, consulting a financial advisor is suggested.
To learn more about how to Be Money Confident, join Best Egg Financial Health.