Credit card debt consolidation loans from Happy Money are available with fixed interest rates and can be a great benefit to debtors. You can consolidate many high-interest credit card payments into one more manageable one using a “payoff loan” and a much reduced annual percentage rate.

Happy Money discloses loan payments to the three major credit bureaus and offers free monthly FICO score updates, so applicants may have better luck with them.

Founded in 2009, The Payoff is a subsidiary of Happy Money, Inc. that provides a network of lending partners with credit card debt consolidation loans. The goal of Happy Money, in contrast to the majority of internet loan companies, is to assist customers in paying off existing debt and building credit. Happy Money is a lending company with headquarters in Tustin, California; all states except Massachusetts and Nevada accept applications.

Affluence: What a Joyful Experience Payoff loans can only be used to consolidate credit card debt. Payoff personal loans aren’t a good fit for major purchases, home improvements, or unexpected costs due to this limitation. This limitation makes payback loans far less flexible compared to the standard personal loan offered by financial institutions.

A minimum credit score of 550 and three years of consistent, responsible financial management are required for approval of Happy Money’s Payoff Loan. Before deciding to lend money, Payoff considers a lot of things, including the applicant’s debt-to-income ratio, credit utilization rate, delinquencies, and more.

The typical processing time for a loan disbursement is three to six business days following verification and approval. Depending on the borrower’s preferred financial institution, the time it takes to become funded could vary.

A Not-So-Strict Credit Check at First
Happy Money, like many other leading online lenders, provides pre-approval loans to borrowers without doing a credit check at the outset. To accomplish this, go to the “Check My Rate” tab on the Happy Money website. Use the drop-down menu to choose “I Have an Invite Code” if you possess a prequalification letter. When you apply for a loan in its entirety with Happy Money, they will thoroughly check your credit.

Logging into your Payoff Happy Money account, borrowers who are able to do so can adjust the date of their next payment by clicking the “Change Date” button next to the due date.

You may consolidate your credit card debt easily using Happy Money’s Direct Card Payoff service. Instead of depositing the funds into the borrower’s bank account, Happy Money will transfer them straight to an independent credit card company if the borrower chooses this option. Borrowers can choose to have the money sent directly to their bank account if they want to be responsible for paying back their credit card debt.

A new and improved FICO score is available.
Paying off $5,000 or more in credit card debt with a payoff loan can raise a customer’s credit score by 40 points, according to Happy Money. By providing monthly updates to their FICO Score, Happy Money’s Payoff not only simplifies the process of repairing credit profiles and paying off credit card debt, but it also makes it easier for consumers to monitor their credit.

You can call the Member Experience Team at Happy Money by phone between the hours of 6 a.m. and 6 p.m. They can leave a message if the borrower calls you at an inconvenient time. Another way to contact Member Advocates is by email or live chat.

Happy Money has a lot of helpful materials available online that make the application and loan processes much easier. Despite Happy Money’s extensive support options, some reviews have mentioned that contacting a representative can be difficult.

According to ratings on Trustpilot, Happy Money is generally well-received by its users. Some dissatisfied borrowers have complained about the application process being too difficult, being deceived by loan offers, and paying too much in interest. There have been some candidates who have voiced their displeasure with the online application process due to the difficulty in providing proof of identification and income. Prior applicants who had spoken with customer service had complained about the slow response time and unprofessional attitude of the representatives they had dealt with.