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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

5.0

Happy Money

Advertiser Disclosure

About Lender

Happy Money is a financial technology company based in the USA that aims to help individuals improve their financial well-being and reduce stress related to money. The company offers Happy Money personal loans for credit card debt consolidation.

One of the unique features of Happy Money is its focus on promoting "financial happiness" through its products and services. The company uses behavioral science and psychology to help individuals make better financial decisions and develop healthier financial habits.

Happy Money personal loan is designed to help individuals consolidate credit card debt, pay for unexpected expenses, or fund major purchases. The company offers competitive interest rates and flexible repayment terms, and borrowers can apply for a loan online in just a few minutes.

Happy Money's credit card, called the Happy Money Mastercard, offers cashback rewards and other benefits designed to encourage healthy financial habits. The card also has a feature called "Joyful Giving," which allows users to donate a portion of their cashback rewards to a charity of their choice.

Happy Money sends funds to a valid checking account with a competitive interest rate and no fees. You can make monthly payments on Happy Money loans the same way.

Overall, Happy Money is focused on using technology and behavioral science to help individuals improve their financial well-being and achieve greater financial happiness.

Key Features

Happy Money is a financial technology company that aims to help people improve their financial well-being and live happier lives. Here are some ways in which Happy Money differs from its competitors:

  1. Focus on happiness. Unlike other financial companies, Happy Money is focused on helping people live happier lives by improving their financial well-being. The company's products and services are designed to help customers reduce financial stress, increase financial wellness, and achieve their financial goals.
  2. Human-centered approach. Happy Money takes a human-centered approach to financial services, which means that the company focuses on the needs and desires of its customers. The company's products and services are designed to be simple, transparent, and easy to use so that customers can easily understand and manage their finances.
  3. Socially responsible. Happy Money is committed to making a positive impact on society and the environment. The company's products and services are designed to promote financial wellness and social responsibility, and the company donates a portion of its profits to charitable causes.
  4. Innovative products. Happy Money offers innovative products that are not commonly found in the financial industry. For example, the company offers a "Payoff" loan product that is designed to help customers pay off their credit card debt faster and more affordably.
  5. Personalized approach. Happy Money offers a personalized approach to financial services, which means that the company takes into account each customer's unique financial situation and goals. The company's products and services are tailored to meet the individual needs of each customer.

Pros and Cons

Pros

  • Socially responsible. Happy Money is a mission-driven company that aims to promote financial wellness and sustainability. The company offers resources and tools to help customers manage their money and reduce their debt.
  • Transparent. Happy Money offers clear and transparent pricing and terms for its loans, which can help borrowers avoid hidden fees and charges.
  • Flexible. Happy Money offers loan terms ranging from 2 to 7 years, which can allow borrowers to choose a repayment plan that fits their budget and needs.
  • Good customer service. Happy Money has been recognized for its high level of customer service, with positive reviews on platforms like Trustpilot and the Better Business Bureau.

Cons

  • Limited loan amounts. Happy Money offers personal loans ranging from $1,000 to $100,000, which may not be enough for borrowers who need larger loans.
  • Not available in all states. Happy Money currently offers loans in only a limited number of states, which may limit its availability for some borrowers.
  • Strict eligibility requirements. Happy Money has strict eligibility requirements, including a minimum credit score of 640 and a minimum annual income of $40,000, which may make it difficult for some borrowers to qualify.
  • Potentially high interest rates. While Happy Money offers competitive interest rates, they may be higher than rates offered by traditional banks or credit unions, especially for borrowers with lower credit scores.

Products

Happy Money is a financial technology company that offers personal loans and debt repayment services. Here is a brief overview of the services offered by Happy Money:

  • Personal loans. Happy Money issues personal loans in the form of the payoff loan to help you lower your credit card balance. The amounts you can get vary from $5,000 and $40,000. The rates for payoff start at 5.99% and go up to 24.99% APR, and you will need to pay it off in 2-5 years. For the loan amount of over $15,000, your minimum APR will be 6.99%.
  • Credit monitoring. Happy Money offers a credit monitoring service that allows customers to track their credit scores and receive alerts about any changes or potential fraud. You can check your rate on the website. It implies a soft credit check, so your credit score won't be affected. There is an origination fee ranging from 0% to 5%. It is issued once when you issue the loan and cover the operating costs of the lender.
  • Financial wellness resources. Happy Money provides a range of financial wellness resources, such as articles, videos, and tools, to help customers improve their financial literacy and make better financial decisions.

Overall, Happy Money's services are designed to help customers achieve financial wellness and sustainability by offering personalized loans and debt repayment solutions, as well as resources and tools to help them manage their finances more effectively.

Reliability

Happy Money is a legitimate financial technology company that offers personal loans and debt repayment services. The company has been operating since 2009 and has received mixed reviews from customers on platforms like Trustpilot and the Better Business Bureau.

Here are some factors that may indicate the reliability of Happy Money:

  • Regulatory compliance. Happy Money is a licensed lender and is regulated by state and federal authorities. The company operates in compliance with relevant laws and regulations, which can help ensure that its services are reliable and trustworthy.
  • Partnership with reputable institutions. Happy Money has partnerships with reputable institutions such as Mastercard and Visa, which can indicate the company's commitment to providing secure and reliable financial services.
  • Customer reviews. Happy Money has received positive reviews from customers on Trustpilot, but the rating on Better Business Bureau is 1.45 stars out of 5. These reviews can indicate that the company provides reliable and satisfactory services to its customers, but it can take more than 30 days to review your credit and disqualify you.
  • Strong financial backing. Happy Money has received significant funding from reputable investors, including Anthemis Group and CMFG Ventures, which can indicate the company's financial stability and potential for growth.

Overall, the factors above suggest that Happy Money is a reliable financial technology company that offers personal loans and debt repayment services. However, borrowers should always do their own research and carefully review the terms and conditions of any financial service before using it.

Funding a Loan

Once all your documentation has been submitted and the application is completed, it typically takes Happy Money 3-6 business days to transfer money to your bank account. Direct Card Payoff will take more time.

If you need to contact the company, their Support works 24/7.

If you are approved for a loan from Happy Money, the funds will typically be deposited directly into your bank account. The process for funding a Happy Money loan typically involves the following steps:

  1. Loan approval. Once you submit your loan application, Happy Money will review your application and creditworthiness to determine if you are eligible for a loan. If your application is approved, Happy Money will typically send you a loan offer that includes the loan amount, interest rate, and repayment terms.
  2. Accepting the loan offer. If you decide to accept the loan offer, you will need to sign the loan agreement electronically and provide any additional documentation or information that Happy Money requires.
  3. Verification and processing. After you accept the loan offer, Happy Money will typically verify your identity, income, and other information to finalize the loan. This may involve a credit check and additional documentation, such as bank statements or pay stubs.
  4. Loan funding. Once your loan has been approved and verified, Happy Money will typically deposit the loan funds directly into your bank account. The time it takes for the funds to become available in your account may vary depending on your bank's policies and processing times.

Overall, the process for funding a loan from Happy Money is designed to be quick and efficient, with most loans being funded within a few days of approval. However, the exact timeline may vary depending on factors such as the amount of the loan, your creditworthiness, and any additional documentation or verification required.

Happy Money vs. Upstart

Happy Money and Upstart are both financial technology companies that aim to provide innovative solutions to improve people's financial lives. While they share some similarities, they differ in their business models, target audiences, and product offerings.

  • Loan amounts. Happy Money offers personal loans ranging from $5,000 to $40,000. Upstart offers personal loans ranging from $1,000 to $50,000.
  • Loan terms. Happy Money offers loan terms ranging from 2 to 7 years. Upstart offers loan terms ranging from 3 to 5 years.
  • Fees. Happy Money charges an origination fee of 0.99% - 5.99%, depending on the loan amount and term. Upstart charges an origination fee of up to 8%, depending on the loan amount and term, and a late payment fee of 5% of the unpaid amount or $15, whichever is greater.
  • Customer service. Happy Money offers customer support through email and phone, as well as an intuitive website. Upstart offers customer support through email, phone, and live chat, as well as a Help Center on its website.
  • Reviews. Happy Money has a rating of 4.2 out of 5 stars on Trustpilot, based on over 300 reviews. Upstart has a rating of 4.9 out of 5 stars on Trustpilot, based on over 40,000 reviews.

In summary, Happy Money and Upstart are both fintech companies that provide innovative financial solutions, but they differ in their business models, target audiences, and product offerings. Happy Money focuses on helping people achieve financial wellness, while Upstart provides loans to borrowers with limited credit history using advanced algorithms.

Happy Money vs. LendingClub

Happy Money and LendingClub are both personal loan lenders. However, they differ in their target markets, loan terms, and application processes.

  • Loan amounts. Happy Money offers personal loans ranging from $5,000 to $40,000. LendingClub offers personal loans ranging from $1,000 to $40,000.
  • Loan terms. Happy Money offers loan terms ranging from 2 to 5 years. LendingClub offers loan terms ranging from 3 to 5 years.
  • Fees. Happy Money charges an origination fee of 0.99% - 5.99%, depending on the loan amount and term. LendingClub charges an origination fee of 2% to 6%, depending on the loan amount and term, and a late payment fee of $15 or 5% of the unpaid amount, whichever is greater.
  • Customer service. Happy Money offers customer support through email and phone and has a good user experience on its website. LendingClub offers customer support through email, phone, and live chat, as well as a Help Center on its website.
  • Reviews. Happy Money has a rating of 4.2 out of 5 stars on Trustpilot, based on over 300 reviews. LendingClub has a rating of 4.7 out of 5 stars on Trustpilot, based on over 4,000 reviews.

Overall, both Happy Money and LendingClub offer personal loans with similar loan amounts and terms, with LendingClub offering a slightly lower maximum loan amount. Happy Money charges an origination fee, while LendingClub charges both an origination fee and a late payment fee. Both companies have customer support through email and phone, but LendingClub also offers live chat support. Both companies have high ratings on Trustpilot, with LendingClub having a slightly higher number of reviews. You can use the loan proceeds to pay back you credit card debt.

Happy Money vs. Avant

Happy Money and Avant are both financial technology companies that offer lending services to consumers. However, they have different approaches to lending and target different customer segments.

  • Loan amounts. Happy Money offers personal loans ranging from $5,000 to $40,000. Avant offers personal loans ranging from $2,000 to $35,000.
  • Loan terms. Happy Money offers loan terms ranging from 2 to 5 years. Avant offers loan terms ranging from 12 to 60 months.
  • Fees. Happy Money charges an origination fee of 0.99% - 5.99%, depending on the loan amount and term. Avant charges an administration fee of up to 4.75% and a late payment fee of up to $25.
  • Customer service. Happy Money offers customer support through email and phone and has an intuitive website. Avant offers customer support through email and phone, as well as a live chat feature on its website.
  • Reviews. Happy Money has a rating of 4.2 out of 5 stars on Trustpilot, based on over 300 reviews. Avant has a rating of 4.6 out of 5 stars on Trustpilot, based on over 23,000 reviews.

Overall, both Happy Money and Avant offer personal loans with similar loan amounts and terms. However, Happy Money charges an origination fee, while Avant charges an administration fee and a late payment fee. Both companies have customer support through email and phone, but Avant also offers a live chat feature. Happy Money has lower reviews on Trustpilot than Avant.

Happy Money

FAQ

What is Happy Money Inc?

Happy Money Inc is a financial technology company that offers a mobile app and prepaid Visa card that helps people save, manage, and grow their money.

Is Happy Money Inc a payoff?

The short answer is no. Happy Money Inc. is not a payoff. However, some people believe it may be a scheme designed to take advantage of people looking for a way to make money online.

Who founded Happy Money?

Happy Money was established in 2009 by Ken Honda. It is dedicated to helping Americans save money and get out of debt.

Does payoff hurt your credit score?

Paying off your debts does not hurt your credit score, and lowering your debt-to-credit ratio can help raise your credit score.

Company documents

Privacy Policy
Licenses

Happy Money exists to help people use money as a tool for their happiness

© Happy Money, Inc

Happy Money service available states 

  • State of Idaho (ID)
  • State of Iowa (IA)
  • State of Alabama (AL)
  • State of Alaska (AK)
  • State of Arizona (AZ)
  • State of Arkansas (AR)
  • State of Wyoming (WY)
  • State of Washington (WA)
  • State of Vermont (VT)
  • Commonwealth of Virginia (VA)
  • State of Wisconsin (WI)
  • State of Hawai`i (HI)
  • State of Delaware (DE)
  • State of Georgia (GE)
  • State of West Virginia (WV)
  • State of Illinois (IL)
  • State of Indiana (IN)
  • State of California (CA)
  • State of Kansas (KS)
  • Commonwealth of Kentucky (KY)
  • State of Colorado (CO)
  • State of Connecticut (CT)
  • State of Louisiana (LA)
  • Commonwealth of Massachusetts (MA)
  • State of Minnesota (MN)
  • State of Mississippi (MS)
  • State of Missouri (MO)
  • State of Michigan (MI)
  • State of Montana (MT)
  • State of Maine (ME)
  • State of Maryland (MD)
  • State of Nebraska (NE)
  • State of Nevada (NV)
  • State of New Hampshire (NH)
  • State of New Jersey (NJ)
  • State of New York (NY)
  • State of New Mexico (NM)
  • State of Ohio (OH)
  • State of Oklahoma (OK)
  • State of Oregon (OR)
  • Commonwealth of Pennsylvania (PA)
  • State of Rhode Island (RI)
  • State of North Dakota (ND)
  • State of North Carolina (NC)
  • State of Tennessee (TN)
  • State of Texas (TX)
  • State of Florida (FL)
  • State of South Dakota (SD)
  • State of South Carolina (SC)
  • State of Utah (UT)
Happy Money service available states 

Financial products

Happy Money
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

5
Recommended FinScore™
0
300
650
1000
$5,000 - $40,000
Rate
i

Effective interest rate on the product

up to 24.99%
Term
i

Loan term for the financial product

up to 60 months
Apply

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Happy Money Loans Calculator

Happy Money calculator will allow you to calculate an approximate payment schedule for the loan

Happy Money calculator
Interest rates are given in accordance with the rates of the Happy Money of 25.03.2023
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All Happy Money’s reviews by march 2023
Leave feedback
1 reviews
Personal loan Go
5
Advantages
If we take into account the fact that this lender offers the opportunity to receive points for the use and timely repayment of loans, which can be used to repay subsequent loans in the future, then this is a huge plus in his direction. In terms of interest, everything is within acceptable limits, if you compare it again with other companies, you can repay the loan ahead of schedule, this is not hindered here and even no commissions will be required to pay. In case of problems, you can always contact the support service, the attitude to customers is loyal and all issues are resolved fairly quickly in terms of deadlines. In the future, I still plan to contact here
Complain
Overall company rating
5.0
/ 5
1 reviews
Execution of an application
5.0
Support service
5.0
Mobile app
5.0
Service quality
5.0
Your satisfaction level
5.0

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