- 1 Pros and Cons of working with Happy Money
- 2 What is Happy Money?
- 3 How does Happy Money work?
- 4 How much does Happy Money cost?
- 5 How to qualify for Happy Money’s services?
- 6 What kind of loans does Happy Money offer?
- 7 How do you pay back Happy Money?
- 8 What is the minimum credit score for a Happy Money loan?
- 9 How does Happy Money affect your credit?
- 10 How to cancel Happy Money?
- 11 Happy Money BBB Reviews
- 12 So, is Happy Money legit or a scam?
If you’re considering taking out a personal loan, you may be wondering if Happy Money is legit or not. In this article, we’ll take a close look at the company and see if they’re the right choice for you.
Happy Money has been around since 2009 and offers loans to people all over the United States. They claim to be able to help you pay off your credit cards and move towards a better financial situation.
Happy Money is not a lender, they are a lead generator company. They will sell your information to other lenders. There are many negative reviews about this practice online, so we advise to check customers reviews.
Their Better Business Bureau (BBB) reviews have many complaints against this company. If you’re considering using Happy Money, we suggest taking your time to compare them to other lenders.
Pros and Cons of working with Happy Money
Although some people may have concerns with Happy Money, the company does have its benefits. One key advantage is that Happy Money is not a lender. This can be helpful if you are looking to compare interest rates from different lenders at the same time.
A potential downside of using this service is that it shares your information with other lenders. If you’re trying to keep your personal information private, this could be a major concern.
What is Happy Money?
If you’re looking for a personal loan to pay off credit card debt, you may be interested in a Lead Generator Company such as Happy Money. They sell your information to other lenders, so you may receive multiple offers from different companies.
Before signing up with any company, be sure to do your research to ensure they are trustworthy. Unfortunately, some companies are known to sell customer information to other lenders without permission. This can be very dangerous as it opens up the possibility of identity theft and fraud. If you are considering using such a company, make sure you understand the risks involved before proceeding.
How does Happy Money work?
If you’re looking for a personal loan, you may want to consider going through a lead generator. These companies match you with potential lenders, which can save you time and energy in your search. However, it’s important to be aware that you may receive multiple calls and emails from different lenders as a result of using a lead generator.
There are a few things to watch out for when taking out a loan. Make sure you understand the terms and conditions of the loan, as well as the interest rate and fees.
How much does Happy Money cost?
A loan can be a helpful way to consolidate debt and get your finances in order. However, it is important to be aware of the cost of taking out a loan. Interest rates from their network of lenders can range from 5.99% to 24.99%, which means that you could end up paying a lot of interest on a $40,000 loan depending on your credit score.
Repayment options range from 24 to 60 months. Overall, the cost of taking out a loan should be carefully considered before making this decision.
How to qualify for Happy Money’s services?
To get started, there is a list of criteria you need to meet:
- Be a U.S. citizen or Permanent Resident.
- You must be at least 18 years of age.
- Valid bank account.
- A minimum credit score of 640.
- A government-issued ID.
- A debt-to-income ratio of 50% or less.
- No delinquencies on any outstanding credit.
- At least three years of credit history.
What kind of loans does Happy Money offer?
If you’re looking to consolidate your credit card debt, you might want to consider a personal loan from Happy Money’. They act as a middleman in the process, but they don’t actually fund or issue the loans themselves.
The maximum loan amount you can get from them is $40,000, and the APR can get as high as 24.99%.
Loan Amount: $5,000 to $35,000
APR: 5.99% to 24.99%
How do you pay back Happy Money?
You don’t pay them back- it’s a free service. You actually pay back the lender that you were matched with.
This company gets paid by the lender, not by the borrower. They will send your information to different lenders in order to find you the best match. After you have been approved and have signed the contract, you will make your payments directly to the lender. So, in short, you don’t need to worry about paying back Happy Money- they’ve already been paid!
What is the minimum credit score for a Happy Money loan?
To apply for a loan with Happy Money, you’ll need to have a credit score of at least 640. Many people find this to be a difficult requirement to meet, as having a good credit score is not always easy. If your credit score is not high enough, you may have difficulty getting approved for a loan, and even if you are approved, the interest rates could be very high. This can make it hard to afford the monthly payments on your loan and could prevent you from getting ahead financially.
If you have bad credit, there are still plenty of loan options available to you. But before choosing one, be sure to compare offers from different lenders to get the best deal possible.
How does Happy Money affect your credit?
The network of lenders reports to the credit bureaus, so if you make a late payment, it could negatively impact your credit score. Additionally, signing up for Happy Money may result in a credit check on your credit report. This can temporarily lower your credit score.
There are many different ways to improve your credit score, and using Happy Money is one of them. However, before you sign up for this service, it’s important to be aware of the potential risks involved.
How to cancel Happy Money?
Canceling your loan can be a hassle, but if you follow these steps it will be a breeze. Firstly, you’ll need to contact your direct lender and let them know that you’d like to cancel your loan. If you have any outstanding balance, make sure to pay that off before officially canceling the loan. And that’s it!
To cancel your Happy Money loan, follow these steps:
- Contact your direct lender and request to cancel your loan.
- If you have an outstanding balance, pay that off in full.
- Your direct lender will then cancel your loan.
Once your loan is canceled, you will no longer be able to access the funds.
Happy Money BBB Reviews
Happy Money is a financial institution that has been in business for over 10 years. They have an A+ rating from the Better Business Bureau but have had 62 complaints closed in the last three years and 18 complaints closed in the previous 12 months.
Better Business Bureau reviews are important, so make sure to do your own research before singing up.
Here are some Happy Money BBB Reviews:
Andrew S 04/03/2022
Happy Money has a very unintuitive web interface that makes processes that should be simple incredibly inconvenient at best, and downright confusing or impossible at worst. There is little to no transparency, and they can best be described as an analog company in a digital world.
Roshaun T. 02/15/2022
I wanted to see what my interest rates were with this company before I moved forward and so I put in my info to see what I would get. I didn’t go forward, however, the very next day, one of my credit cards alerted me that my social security number was found on the dark web. Sounds pretty ironic that the only place I used my social was with this company. Beware of who you give your personal info to.
Andrew B 08/04/2022
Horrible experience. absolutely no communication. submitted all documents as needed and shows status of 3-7 days and “preparing documents” this has been for over 2 weeks. i’ve used their chat message to get update only to be provided the exact same language as on the website. then i call them for update because my “offer” is expiring in 2 days.
Mind you they have had everything they needed from me for 3 weeks. person on the phone says they’ll escalate to manager and request extension to not lose the rate/offer and i will get an email right away. this was 2 days ago. log in today and shows offer expires in 0 days. never got my email from them stating what’s going on, nothing. meanwhile they ask to connect to your bank to verify information and upload ID’s. The most worst experience. Look elsewhere.
So, is Happy Money legit or a scam?
There is no easy answer to this question. While happymoney.com is a legitimate company, it is not a real lender. Many people have had negative experiences with the company, and there are many reviews online that attest to this.
However, if you are in need of a short-term loan and are willing to work with Happy Money’s network of lenders, they may be a good option for you. Just be sure to do your research first and read all the fine print before agreeing to anything.
Have you had any experiences with Happy Money? Let us know in the comments below.
Thank you for reading.