Does Happy Money verify income for personal loan applications? This question is about Happy Money

Does Happy Money verify income for personal loan applications?

Answer Question Report Abuse

This question is about Happy Money

Grace Enfield, Content Writer

@grace_enfield • 11/25/21 This answer was first published on 11/25/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Permalink Report Abuse

Happy Money does verify income for personal loan applicants to confirm that people can repay what they borrow, but it does not disclose a minimum income requirement. You also have to meet other Happy Money requirements to be considered, such as being at least 18 years old and being a U.S. citizen, permanent resident, or long-term visa holder living in the U.S. You have a good chance of getting approved if you meet all of these requirements.

Happy Money Personal Loan Requirements

Be at least 18 years old
Be a U.S. citizen, permanent resident, or long-term visa holder living in the U.S.
Have a Social Security number or passport
Have a credit score of 640 or higher
Must have at least 3 years of credit history

If you want a better idea of what personal loans you may qualify for with your income, you can use WalletHub's free pre-qualification tool.

Answer Question

Does a Happy Money personal loan affect your credit score?

Yes, a Happy Money personal loan does affect your credit score, both when you submit the application and when you are paying the loan off. Checking your rate on Happy Money will not hurt your credit, but they run a hard inquiry before finalizing your loan application, which might decrease your credit score.

How a Happy Money Personal Loan Affects Your Credit Score

Hard pull: When you apply for a Happy Money personal loan,...

read full answer

Does Happy Money allow cosigners on personal loans?

No, Happy Money does not allow cosigners on personal loans, unlike some personal loan providers. A cosigner is a second person who serves as a guarantor on the loan, and thus promises to pay the loan back if the primary applicant cannot.

Although Happy Money does not accept cosigners on personal loans, there are quite a few lenders out there that do. You can check out WalletHub's picks for the best personal loans that allow cosigners to find some good...

read full answer

Does Happy Money do a hard inquiry?

Yes, Happy Money does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

Happy Money's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how...

read full answer

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.