Personal Loan To Pay Off Credit Card Debt - Happy Money (2024)

FAQs

Is it hard to get a loan with happy money? ›

Credit Score and Financial History

Happy Money looks for borrowers with a credit score of 640 or higher — and no current delinquencies. In addition to your credit score, Happy Money may look at the length of your credit history, your number of accounts in good standing and how much of your available credit you've used.

Using a personal loan to consolidate your credit card debt is a common form of debt consolidation. Credit cards typically charge interest rates between 20% and 30%, although some cards may charge up to 36%. On the other hand, personal loans tend to have lower rates, ranging from 8% to 20%.

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.

Yes, Happy Money is a legitimate personal loan company. It has helped more than 208,000 people get over $3.7 billion in personal loans. Happy Money's Payoff Loan is a good option if you have multiple credit cards and want to save money on interest by consolidating your debt.

To qualify for a Happy Money personal loan, you'll also need the following: 640 credit score minimum. Proof you don't currently have any delinquent credit accounts. Enough income to repay the loan based on your new debt and current debt.

If you need to decrease the amount of money you're putting toward your debts each month, choosing a long-term personal loan could be a good option. Extending your loan term can help lower your monthly payment, especially if you're able to secure a lower interest rate at the same time.

A personal loan will cause a slight hit to your credit score in the short term, but making on-time payments will bring it back up and can help improve your credit in the long run. A personal loan calculator can be a big help when it comes to determining the loan repayment term that's right for you.

It may also be necessary to verify your income with your two most recent pay stubs and your most recent full bank statement. Await loan approval. Once you provide the necessary documentation, it takes between three and seven business days for Happy Money to verify all of the relevant information.

No, Happy Money does not call your employer. Happy Money instead uses the financial information and documents you provide during the application process, like a W-2 form, bank statement or pay stub, to verify that you are employed and that you have enough income to afford the loan.

Is Happy Money a personal loan? ›

With a Happy Money Personal Loan, we also provide you free monthly FICO® Score updates so you can track your progress.

While there are no government debt relief grants, there is free money to pay other bills, which should lead to paying off debt because it frees up funds. The biggest grant the government offers may be housing vouchers for those who qualify.

There are no application fees or commitments, and it does not impact your credit score. Select the offer that works best for you and finish your application. Review your terms, verify your information and eSign your loan documents.

Yes, a personal loan for debt consolidation may be able to help you pay off your credit cards while saving on interest. You may also be able to borrow money in the form of a balance transfer card.

I need a loan to consolidate my credit cards. Happy Money made the process seamless with clear upfront costs associated with the loan. Fees and interest were clearly stated and my overall experience was tremendously helpful. They paid the credit card companies directly and I'm saving thousands in interest.