12 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

  • Loans between $5,000 - $40,000
  • FICO score of 640 or higher
  • Loan rates between 5.99% - 24.99%
  • No application fees

Happy Money Review

  • Personal loans from $5,000 to $4,000

  • Consolidate high-interest credit card debt into one monthly installment

  • Prequalify without affecting your credit score

  • Competitive interest rates for borrowers with good credit

  • Helps to increase your FICO Score

What Is Happy Money?

Happy Money is the parent company of The Payoff Loan™ which helps you take control of your credit card debt. A loan from Happy Money helps you consolidate multiple debts into one single monthly payment.

This can lead to better terms and a faster payoff period.

A Payoff Loan™ is a good option if you are looking for a debt consolidation loan where you send payments to your creditors individually every month.

As credit card debt can quickly accumulate, paying it off is a smart investment to make. You’ll cut back on monthly interest and build your savings faster.

Note: Payoff Loans are not available in Massachusetts, Mississippi, Nebraska, Nevada, Ohio, and West Virginia.

Destroying your credit cards is never an option with Happy Money. You simply have to clear your balances and get back on the right track. What’s more, your credit score can increase by up to 40+ points.

There is also a Member Experience team available to help borrowers along their journey of paying off high-interest credit cards.

You can read more Payoff reviews from customers below.

Chosen 1,876 times
  • Loans between $5,000 – $40,000
  • FICO score of 640 or higher
  • Loan rates between 5.99% – 24.99%
  • No application fees

Loans Offered

Happy Money offers loans to reduce high-interest credit card installments into lower monthly payments. The Payoff Loan offers:

  • Fixed monthly payments
  • No late payment fees
  • The ability to get you out of debt
  • A chance to boost your FICO Score

How Happy Money Works

Happy Money offers personal loans between $5,000 and $40,000. These loans are designed to help you pay off your credit cards faster and save money.

To get started with a Payoff Loan from Happy Money you need to check your rate online. It takes as little as three minutes, and it won’t hurt your credit score because Happy Money only needs to run a soft credit inquiry at this point.

Joint applications are not accepted so your credit history needs to be good enough so that you can qualify on your own.

Funding takes three to seven business days after your application is approved, but keep in mind that Payoff is not available in all states.

If you meet the eligibility requirements, Payoff loans are good for people who want to take charge of their credit card debt while building their credit profile.

Happy Money’s loan application process is quite easy and can be done online. Read more about the steps below.

Loan Requirements

Here are the requirements when applying for a Payoff Loan™:

  • You must be at least 18 years old
  • Have a valid Social Security number
  • Have a FICO credit score of 600 or more
  • Have no current delinquencies
  • Have a valid checking account

Other factors may also come into play when applying for a Payoff Loan™, such as your debt-to-income ratio, the age of your credit history, and credit utilization.

Rates & Fees

Happy Money offers fixed loan rates from 5.99% to 24.99%. You can borrow a loan amount between $5,000 and $40,000.

If you’re borrowing more than $15,000, the minimum APR is 6.99%.

The only valid fee bundled inside your loan is the origination fee, which is a once-off charge when your Happy Money loan is issued and varies from 0% and 5%.

This fee comes from one of Happy Monday’s lending partners, and it’s based on your loan amount, your term length, and how good your credit is.

Fees commonly associated with loans are eliminated with Happy Money. These include application fees, early payments, check processing fees, and annual fees.

Payment Terms

Happy Money offers loan repayment periods of between two and five years.

You can prequalify without hurting your credit score, and see the loan amount and repayment terms you may qualify for. There is no prepayment penalty.

Example: A $16,000 loan with an APR of 10.99% will have 48 monthly payments of $413.

How to Apply for a Payoff Loan™

Applying for a Payoff loan is straightforward. Simply visit the Happy Money website and click on Check My Rate. There is no application fee or impact on your credit score.

Choose your terms and select the offer that works best for you. Review the terms, verify your information, and eSign your loan agreement.

Once approved, your funds will arrive in your bank account.

You can read real Happy Money reviews from customers below.

Our Happy Money Review


  • Not available in all states.

  • May charge an origination fee.

  • No joint applications are allowed.

  • Requires 3+ years of credit history

Happy Money offers credit card holders the opportunity to reduce their debt and have one single, lower monthly payment. It’s also a good way to increase your FICO Score and get out of debt faster.

Another great feature of Happy Money is that members get additional benefits such as free FICO Score updates, quarterly check-ins from Member Advocates, and more.

A Payoff Loan™ is available up to $40,000 which is a decent amount for most credit card holders. They don’t have all the fees that you’ll typically see with conventional loans, making it even more affordable.

Customers can easily manage their details with the login link available on the home page. Payoff by Happy Money reviews are generally very positive.

You can also read Payoff loan reviews from customers below.

Is Happy Money legit? Yes. Happy Money is a legitimate personal loan company. It has helped customers get more than $3.7 billion in loans and it’s a good option if you have multiple credit cards and want to save money by consolidating debt.

Happy Money Customer Service

The Payoff customer service (Happy Money) team is available via phone or email, and they have a comprehensive support section on their website.

Customer service is available seven days a week.

Have some feedback? Add your Happy Money Inc. review below.

Payoff (Happy Money) FAQs

How much can I borrow?

A Payoff Loan™ is available up to $40,000. However, some states have different loan limits. If you’re in New Mexico, the minimum amount you can borrow is $5,100, and the minimum loan amount is $6,100 in Maryland.

Is Happy Money a bank?

No. Happy Money has a verified network of lending partners to facilitate loans. All information on Happy Money’s lending partners, privacy policies, and links to their websites are available on their website.

Does Happy Money protect my personal information?

No. Happy Money has a verified network of lending partners to faciliate loans. All information on Happy Money’s lending partners, privacy policies, and links to their websites are available on their website.

Is Happy Money and Payoff the same?

Happy Money was formerly known as Payoff. While it has officially updated its name to Happy Money, Inc., you may still run into places where it refers to itself as “Payoff” or “Payoff by Happy Money” online.

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Reviews of Happy Money

Happy Money is rated 87 out of 313 companies in total rating and got an average review score of 3.2 based on 12 reviews. Their weakness is Flexibility & Terms and their strength is Interest & Costs.
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Kelsey C 1 review | May 24, 2023
Personal Loan Review
Advertisements are great at fabricating the truth! Kudos. Might be a great company but I’ll never know!
Accuracy & customer support. TLDR: ads state you can qualify if you have low or no income. - false. Customer support is templated and unhelpful. Application asks you for income and documentation up front, understandably. But I looked into this loan from an ad I received stating I can get financial assistance without income due to me being out of work. Chatted with customer service who never answered and closed the chat. Chatted with Jeff D on customer service after that who ignored my question several times and sent the most templates “bot” response about how I can apply online and that he cannot give me approval odds (which I stated I understood he could not do and I wouldn’t ask him to). After staring very directly that this didn’t answer my question for a second time, I just plainly asked if it were possible to get a loan through the company without income to which he said I may be declined. What a waste of time. I followed it with a message explaining that I understood it wasn’t his responsibility regarding the advertisements but wanted to pass the feedback that someone should look into the false info. He immediately ended the chat without saying anything. Cannot believe the unprofessionalism and the fact that people who work for this company clearly forget how to be sympathetic to individuals who are seeking financial assistance.
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Bearded E. Merchant 1 review | April 29, 2023
Personal Loan Review
very HAPPY to get you started and fund you. Although,
When changes were to be made on the account they never get changed. I've had to submit new bank information and name change 3 times and no change yet. On top of that the phone calls are just the same talking points and have me doing circles. All they say is sorry. I HIGHLY ADVISE TO STAY FAR AWAY FROM THIS GROUP. Had to use two payment deferments to try to fix their mistake/ lack of correction.
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Nicole 1 review | October 3, 2022
General Review
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Alissa Barnes 1 review | August 1, 2022
General Review
None - huge waste of time.
Please don’t waste your time with this company. I was promised one rate then it doubled. Old bait and switch. Look at other reviews.
Happy MoneyPartnerAugust 8, 2022

We’re sorry to hear that your experience did not meet your expectations. One of our member advocates will be reaching out to you directly. Thank you.

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sonia sud 1 review | April 29, 2022
General Review
Happy MoneyPartnerMay 2, 2022

We’re sorry to hear that your experience did not meet your expectations. One of our member advocates will be reaching out to you directly. Thank you.

Post reply
Ozge Oz 1 review | August 12, 2021
General Review
I have been back and forth with them for 2 months now. I trusted your company and invested my valuable time. I clearly indicated that the 1040 I will be providing for 2020 will be showing low income due to COVID, BUT current bank statements show my business recovered and that I make way more than even what you are asking. And JUST because they ask me to do my taxes and gave me the green light on my bank statements (income) I did my taxes! On the phone they said earlier ALL looks good only thing needed left is 1040. And I just got an email after this LONG journey that they do not accept me because my 1040 shows low income?? AND WHEN I CALLED THEM THEIR EMPLOYEE JUST HUNG UP ON ME AT THE END OF THE CALL. This is not professional and all their employees do have an attitude problem. Even DMV has a better treatment. If they are not happy working for you they should just QUIT. From beginning to end the entire process was torturous. I will do my best to be sure no one around me works with them.
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Son Sebastien Hutton Lenoo 1 review | April 30, 2021
General Review
this is bestmoney borrower to payoff mortgage
the price can be lower please for us
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Raudel Gonzalez Jr. 1 review | April 29, 2021
General Review
A helping service for credit card debt is always a plus
None that I have encountered so far.
Happy MoneyPartnerDecember 20, 2021

Thank you for your review! For those who choose us, our hope is that they feel empowered to eliminate their credit card debt for good.

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shantelle banks 1 review | April 27, 2021
General Review
the great marketing share
abit too expensive but worth it
Post reply
April 1 review | December 28, 2019
General Review
Everything they do
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