Happy Money Personal Loan Review
pros and cons
personal loan requirements
Unlike many lenders, offers clear eligibility requirements for potential borrowers.
| Minimum credit score | |
| Payment history | Zero current delinquencies |
| Residential requirements | Loans not offered in Iowa, Massachusetts or Nevada |
| Required documents |
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If loan options won’t work for your borrowing needs, be sure to shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan
Getting a personal loan from
How compares to other personal loan companies
Even if you believe stacks up against similar personal loan lenders.
| LendingPoint | |||
|---|---|---|---|
| LendingTree’s rating | 4.5/5 | 3.8/5 | /5 |
| Minimum credit score | 660 | ||
| APRs | 7.99% – 35.99% | ||
| Loan amounts | $1,000 – $36,500 | ||
| Repayment terms | months | months | 24 to 72 months |
| Origination fee | Up to 10.00% | ||
| Funding timeline | May receive funds within three to six business days | May receive funds as soon as one to three business days | May receive funds as soon as one business day |
| Bottom line | loans are specifically designed for credit card refinancing. It also has a lower maximum APR than Achieve and LendingPoint, which could make it the cheapest option if you have a credit score around . | offers three rate discounts: one for adding a co-borrower, one for allowing it to pay your credit cards directly and another for having a well-funded retirement account. However, compared to , it has higher origination fees. | LendingPoint offers smaller loans than and . It also has the lowest starting rates, so it may be the best choice if you have excellent credit. |
How we rated
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
You must have a credit score of at least 640 to qualify for Happy Money, so you need at least fair credit. You also can’t have any delinquent debt on your credit report. You can see how likely it is that Happy Money will approve you by prequalifying on its website.
Happy Money’s personal loan funding timeline is three to six business days after you’ve signed your loan agreement. That is, if you’ve opted to get your loan funds sent to your savings or checking account. If you’d like Happy Money to pay your credit cards directly, you should see those payments reflected on your credit card statement within 30 days.
Also, keep in mind that it can take Happy Money up to seven days to decide whether you qualify for a loan.
Yes. Formerly known as the Payoff Loan, Happy Money was founded in 2009, Happy Money is a legitimate lending platform that connects borrowers with partner lenders (many of which are credit unions).
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