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Happy Money (Previously Payoff): Personal Loan Review

The basics

Estimated APR

7.99% - 29.99%

Min. Credit Score


Max. DTI Debt to Income Ratio


Origination Fees

0% - 5%

Late Penalties


Prepayment Fees


Good for: Eliminating high-interest credit card debt

Our verdict

Happy Money offers considerably low interest rates and can come with zero fees for some users. The downside is Happy Money loans can only be used for debt consolidation.

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Beyond the basics

No fees (except possible origination fee)

Fixed rates

Fixed payments

Loan Amounts

$5,000 to $40,000

Loan Terms

24-60 months

Time to Funding

3-6 business days

Full review

Lender description Happy Money loan is designed to help consumers boost their credit scores by giving them the ability to reduce multiple high-interest payments into one simple, low-rate payment each month.

Best used for

  • Debt consolidation

Pros & cons

  • Fixed, low rates
  • No common fees: Only fee is possible origination fee
  • No prepayment and late fees
  • Limitations on loan usage: only for credit card debt consolidation
  • Doesn't allow cosigners or co-borrowers
  • Possible origination fee

Most suitable for

  • Consumers looking to eliminate or lower their credit card balances
  • Consumers looking to streamline their debt into one monthly payment
  • Individual loan applicants

How to qualify You'll need to have no current credit delinquencies to qualify. Your debt-to-income ratio, age of credit history, credit utilization, and open/satisfactory trades may also be considered.

How to apply Apply online in as little as three minutes by checking your rate, choosing your terms, verifying your information, and receiving your funds.

Footprint Happy Money is available in 46 states and Washington, D.C. Happy Money is not available in Massachusetts and Nevada.

Loan example A loan of $16,000 at 10.99% APR will have a monthly payment of $413 for 48 months.