Happy Money debt consolidation loan, reviewed
Happy Money’s Payoff Loan is built for paying off credit cards: $5,000 to $50,000 at a fixed rate. Its rates and its fee.
$373 to $594 a month with Happy Money on $15,000 over four years
$489 a month to clear the same $15,000 on 24% cards in four years
| APR range | 8.95% to 35.99% |
|---|---|
| Loan sizes | $5,000 to $50,000 |
| Terms | Fixed term |
| Fee | Origination fee set by amount, term and credit |
| Bank average, 24-month loans | 11.9% |
A Happy Money debt consolidation loan replaces several card payments with one fixed payment. It exists only to pay off cards, but its lowest rate is not open above $15,000.
Below are its rates, sizes and fees from its own disclosure, and who it suits.
Rates and loan sizes
Happy Money’s lending partners offer fixed APRs from 8.95% to 35.99% on $5,000 to $50,000 (Happy Money).
Above $15,000 the lowest rate is 11.09%. The rates shown include an autopay discount.
Credit score needed
Happy Money publishes no score minimum. The rate and the fee depend on your credit quality.
This review sets no approval odds.
Fees
The origination fee is the only fee Happy Money charges to set up the loan. It depends on the amount, the term and your credit, and comes out of the loan (Happy Money).
How the money reaches your cards
The Payoff Loan is made for credit card balances. That focus suits a borrower whose debt is all on cards.
Who the Happy Money debt consolidation loan fits
It fits $5,000 to $50,000 of credit card debt and nothing else.
It is a poor fit under $5,000, or for medical or payday debt.
Complaints about Happy Money are public in the CFPB database: 69 personal loan complaints under Happy Money.
Other choices
Put a Happy Money offer next to two others before you sign. The best loans page lists all 16 lenders with their fees.
Run the offer through the debt consolidation calculator to see the payment next to what your cards cost.Compare Happy Money with
Lender APR Loan sizes Fee 
PenFed6.39% to 17.99% Up to $50,000 No origination fee 
LightStream9.99% to 23.94% with autopay $5,000 to $100,000 No origination fee 
Discover6.99% to 24.99% $2,500 to $40,000 No origination fee 
Wells Fargo6.74% to 26.74% $3,000 to $100,000 No origination fee 
SoFi6.99% to 35.49% $5,000 to $100,000 Optional fee of 0% to 7% 
LendingClub5.96% to 35.99% $1,000 to $75,000 Origination fee of 0% to 8% 
Reach Financial5.99% to 35.99% $3,500 to $40,000 Origination fee of 0% to 8% 
Achieve6.25% to 35.99% $5,000 to $50,000 Origination fee of 1.99% to 9.99% 
Upstart6.3% to 35.99% $1,000 to $75,000 Origination fee, 8.15% in Upstart’s own example loan 
Best Egg6.99% to 35.99% $2,000 to $50,000 Origination fee up to 9.99% 
Upgrade7.74% to 35.99% $1,000 to $50,000 Origination fee of 1.85% to 9.99% 
Prosper8.99% to 35.99% $2,000 to $50,000 Origination fee of 1% to 9.99% 
Avant9.95% to 35.99% $2,000 to $35,000 Administration fee up to 9.99% 
Universal Credit11.69% to 35.99% $1,000 to $50,000 Origination fee of 5.25% to 9.99% 
OneMain Financial11.99% to 35.99% $1,500 to $30,000 Flat $25 to $500, or 1% to 10%, by state
Related topics
About this lender
What is the Happy Money Payoff Loan?
A fixed-rate loan for paying off credit cards, from $5,000 to $50,000.
What are Happy Money’s rates?
Fixed APRs from 8.95% to 35.99%; above $15,000 the lowest is 11.09%.
Does Happy Money charge a fee?
Yes, one origination fee, set by amount, term and credit, taken from the loan.
Check your Happy Money offer today
You hold a Happy Money offer, or you are about to apply. The fee and the term change what it really costs. Call and a specialist goes through the offer line by line against your cards.