Happy Money is an online lending platform that offers credit card debt consolidation loans for people with fair credit or better. Here is a quick overview of Happy Money loans:
Happy Money personal loans can only be used for credit card consolidation, but they have the potential for very low APRs. The minimum APR is 7.95%, which is one of the lowest rates among major lenders. The maximum APR is 29.99%, which is lower than the 36% maximum that several other online lenders charge. And Happy Money’s rates become even more attractive when you compare them to the average credit card interest rate: around 23% for new offers and 21% for existing accounts. So if you’re able to score an APR at the low end of Happy Money’s range, you could potentially save a lot of money.
To get a credit card consolidation loan from Happy Money, a WalletHub partner, you’ll need a credit score of at least 640, according to representatives from the company.
You can pre-qualify for a credit card consolidation loan on Happy Money’s website. WalletHub also has a free pre-qualification tool to help you pre-qualify with many lenders at once.
Happy Money Review Highlights:
APRs: 7.95% - 29.99%
Loan sizes: $5,000 - $50,000
Happy Money periods: 24 - 60 months
Credit score requirement: 640+
Origination fee: 0.25% - 10% of the loan amount. The fee is deducted from the funds you receive from Happy Money initially.
Late fee: $25 - $35
Reputation: Happy Money scores an A+ with the Better Business Bureau and has an average user rating of 3.8/5 on WalletHub.
Ultimately, Happy Money offers the potential for a low APR and no fees to the most creditworthy applicants. The biggest downside is that you won’t be able to get a loan for any purpose other than credit card consolidation. Below, you can see how WalletHub rates Happy Money in our three major categories: Terms, Requirements & Application, and Reviews & Transparency.
Happy Money Ratings by Category:
Category
Editor’s Rating
Terms
4.4/5
Requirements & Application
3.5/5
Reviews & Transparency
4/5
Overall Score
11.9/15
These scores reflect how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
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Happy Money
Melissa @cheshire718
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1 Star Rating
Verified Customer
I paid this loan in full three months ago, and they have yet to report that to the credit bureaus despite my repeated requests for them to do so.
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Happy Money
jamie king @j_king
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1 Star Rating
I don't even know where to begin. This is the most unorganized, useless, and disappointing company. I truly have no clue how they are still in business because they have a clear issue with reporting to the bureaus and violating FCRA, FACTA, possibly UDAP, and nothing is being done or corrected. This company does not have your best interest at heart; otherwise, they would do as they say and report as they LEGALLY should. Absolutely no one knows what is happening in that company, and their customer service makes it very clear that they hire anyone who can type. I'm going on 56 days of waiting for a response to my CFPB complaint that they have yet to acknowledge. (Shocking) P.S.: My loan hasn't updated since I got it in November of 2024, and it was PAID IN FULL in June of 2025. Nothing reflects on my credit report. I have been patiently waiting, trying to give them the benefit of the doubt. However, I have made it my mission to ensure this company gets put in its place and stops conducting poor business. It's literally a disappointment.
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Happy Money
Adam @adam_truefitness
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1 Star Rating
Verified Customer
Poor Customer service, while prompt is very poor. Payment times can chase unexpectedly if you change payment methods. And they make it very difficult to refinance the loan with a large payment
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Happy Money
dexter @francineb_9
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5 Star Rating
Verified Customer
The interest rate is extremely high, but when I needed to delay a pymt they were very lenient and understanding. I recommend them if you have absolutely no choice but if you can find a better rate somewhere else I would consider it
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Happy Money
Anonymous @Anonymous
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5 Star Rating
Verified Customer
One of the best flexible lending entities out there. If you can't pay for the month, simply request 3 days prior to the due date and they make adjustments. I was able to get a handle of my debts with their assistance.
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Happy Money
Tanner @tdhud05
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1 Star Rating
Verified Customer
First off 20% APR on top of 18% interest is truly not helping anyone out. I should have read more into this company. Good credit doesn’t mean you get good rates or approval. Trust me worst company to go with read the fine print before taking a loan.
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Happy Money
Lashon @lashonw
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5 Star Rating
Verified Customer
Easy approval and offered a much lower rate than competitors. The representatives I spoke with were able to answer any questions thoroughly. Overall a great decision.
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Happy Money
Tracey @traceys_home
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5 Star Rating
Verified Customer
Great company, approval was fast and easy. Hopefully I'll never need them again, but for anyone that does...this is an awesome company!
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Happy Money
Lewis @collins3232
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5 Star Rating
Verified Customer
The whole process was quick and easy. No hassle, no run around, straight forward and honest. Had my loan approved and cash in my account before I even knew it. I would recommend happy money to any and everyone.
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Happy Money
genegenre @genegenre
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1 Star Rating
Approved and then denied because they said they could not verify income based on the docs I sent rather than simply asking me to send different docs;
I applied for a 40k debt consolidation loan and was approved with a 679 FICO: 9.9% APR and a 1% loan origination fee. I submitted three months bank statements and a copy of my 1040 tax receipts showing my gross and taxable income (over 100k). I checked back and, under 1040 form submission, it said incomplete even though I had sent the pdf that I pulled from my tax software. I assumed it just didn't get to them so I resubmitted and received an email telling me to contact them directly. I chatted with support and they took some more basic info from me. Then they denied my loan because "we weren't able to verify income based on documents sent." Why not just ask for other documents instead of wasting both of our time and hurting my credit further with a loan rejection? They used to go by Payoff Inc. Perhaps they had such a bad reputation that they needed to change their name. I would avoid this company.
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Happy Money
Angela @angelahilty
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5 Star Rating
Verified Customer
Great!! Happy Money is remarkably helpful. I have nearly paid off my loan. Only a few months to go. Two years ago, the application process was smooth.
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Happy Money
Robert @Rkent0274
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5 Star Rating
Verified Customer
My experience with Happy Money was definitely positive. Rapid responses from the team, and after submission of needed documents my loan was deposited in a week.
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Happy Money
RUIYUAN @ruiyuan_shen
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5 Star Rating
Verified Customer
Absolutely wonderful company & easy to work with!! Love them! Recommend for anyone looking for a personal loan that is quick with great repayment options!
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Happy Money
Sarita @saritaj_2
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5 Star Rating
Verified Customer
This was my 1st personal loan and I must say I do not regret it.. I got an even better rate than it was originally "d to me a very affordable interest rate. They were able to help me set up a date that worked for me And also allow me to choose the length of the loan. I have gotten another loan with another company and I must say I prefer happy loans over that loan . I will be completing completing my loan in another 3 months too much and hopefully we'll be able to transfer my other loan to a happy money loan for a better experience experience and a better interest rate. I definitely recommend this company.
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Review Happy Money
Happy Money Offers
Personal Loans
Happy Money Q&A(44 questions)
Get answers to your questions about Happy Money below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. Ad Disclosure
Yes, Happy Money is legit because it's accredited by the Better Business Bureau, which gives them an A+ rating. Another reason why Happy Money is legit is that the lender is registered to do business in the states it services, which is a legal requirement to be a legitimate lender.
Why Happy Money Personal Loans Are Legit
Happy Money is registered as a business in the states it services.
Happy Money has a Better Business Bureau rating of A+.
Happy Money has an average user rating of 4/5 on WalletHub.
Happy Money personal loans have a rating of 3.9/5 from WalletHub's editors.
Happy Money has a secure website, which you can tell by the fact that the URL has "https" in front of it.
While Happy Money personal loans are legit, they may or not be the best choice for you. It's important to compare the terms and requirements of Happy Money personal loans against your other options before submitting an application.
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...
Happy Money has a 0.25% - 10% origination fee and a $25 - $35 late payment fee associated with its personal loans, but does not have a prepayment fee. In addition to this fee, Happy Money has a minimum APR of 7.95%, which is lower compared to the typical minimum APR for a personal loan. For your convenience, you can see Happy Money's personal loan fees and other key terms below.
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...
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,...
Happy Money requirements include being at least 18 years old, having enough income or assets to make the monthly payments and having a Social Security number. You will also need to have a verifiable bank account to qualify for a Happy Money personal loan.
Happy Money Requirements for Borrowers
Credit Score: 640
Income: Not disclosed, but require debt-to-income ratio of 50% or less
Your Happy Money approval odds are good if you have a low debt-to-income ratio and meet Happy Money's requirements to get a loan. Some requirements include being at least 18 years old, having enough income to make monthly payments and having a credit score of 640+. If you meet all the requirements, your approval odds are high, but approval is never guaranteed.
Happy Money may approve you the same day you apply or within 7 business days. After your application is approved and you accept the offer, it takes 2 -6 business days to receive your funds, which Happy Money will send to you by electronic bank transfer.
Key Things to Know About Happy Money Loan Approval
It takes 2 to 13 business days to get money from a Happy Money personal loan, in most cases. The Happy Money loan timeline includes around up to 7 business days to get approved for a Happy Money loan and another 2 to 6 business days to receive the funds after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.
You need a minimum credit score of 640 to get a personal loan from Happy Money, according to the company. That means you can get a personal loan from Happy Money with at least fair credit. Generally, a higher credit score will give you better approval odds for a Happy Money loan and will also likely get you better loan terms.
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