Find the Best Personal Loans for You
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What Can a Happy Money Personal Loan Be Used for?
Happy Money provides personal loans for credit card debt consolidation only.
Applying for a Happy Money personal loan is a four-step process. First, you will answer some questions online to prequalify, which doesn’t affect your credit score. Next, you will select the loan terms that work best for you and finish your application. Then, you will review your terms, verify your information and electronically sign your loan documents, and Happy Money will perform a hard credit check right before your loan is finalized. Approved loans are funded within three to six business days.
Happy Money works with lending partners to originate your loan. Its lending partners are Alliant Credit Union, Blue Federal Credit Union, Cross River Bank, First Tech Federal Credit Union, GreenState Credit Union, MSU Federal Credit Union, Teachers Federal Credit Union, Technology Credit Union, USAlliance Financial and Veridian Credit Union.
Happy Money offers fixed-rate personal loans only, with annual percentage rates between 10.5% and 29.99%. Loans range from $5,000 to $40,000, and loan repayment terms are 24 to 60 months. The minimum APR is 10.99% for loans of more than $15,000, and the minimum loan amount and APR may vary in certain states.
The Payoff Loan charges no application, check processing, returned check, annual, prepayment or late fees, but borrowers pay an origination fee of up to 5% of the loan amount.
Happy Money requires a FICO credit score of at least 640, and borrowers must have no current delinquencies. The company lists other factors it may consider for loan approval, including debt-to-income ratio, length of credit history, credit utilization ratio and payment history on other lines of credit.
Borrowers can receive preapproval and get rate quotes, but co-signers aren’t accepted.
Happy Money requires a minimum FICO credit score of 640.
Happy Money operates nationwide except for Massachusetts and Nevada.
Happy Money has an A+ rating with the Better Business Bureau. Happy Money received a great 4.2 out of 5 stars from Trustpilot based on about 340 reviews. The Consumer Financial Protection Bureau saw 14 personal-loan-related complaints about Happy Money in 2022, most dealing with problems when making payments. All but one complaint received a timely response, and all were closed with an explanation.
You can reach Happy Money representatives at 800-878-0901 from 9 a.m. to 9 p.m. Eastern Time Monday through Friday and from 9 a.m. to 5:30 p.m. ET on Saturday. Email at success@happymoney.com
The Payoff Loan process is entirely online. Borrowers can get preapproved and then apply for, close and manage loans through Happy Money’s website. Funds can be directly deposited to your checking account within three to six business days after you electronically sign the loan documents.
- People who need to consolidate high-interest credit card debt.
- People who have at least a 640 FICO credit score.
- People who want to complete the entire loan process online.
