Best Egg provides the chance to get pre-approved without your credit being affected. If you decide to go through with the application process and take out a loan, you will get a hard credit inquiry on your credit report. The loan will also be listed as a new account on your credit history. Too many inquiries on your credit report can hurt your credit score. And inquiries stay on your record for two years. Opening a new account will also lower the average age of your accounts, which can adversely impact credit. However, this would happen with any personal loan you take out — it's not specific to Best Egg. If you pay your Best Egg loan on time and develop a positive payment history, having this type of personal loan on your report can also help your credit score.