Happy Money review: is it a scam or legal?
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Happy money is a company that advertises personal loans to people all over the United States. So, is Happy Money legal or is it a scam? We will find out in this article. Happy Money has been around since 2009 and has helped many people pay off their credit cards. We’ll take a closer look at Happy Money and see if it’s the right choice for you.
Happy Money is not a lender, it is the main generator. This means that when you apply for a loan through Happy Money, they will sell your data to other lenders. There are many negative opinions about this practice on the Internet.
Their BBB reviews are also mostly negative. If you are considering taking advantage of Happy Money, we suggest that you take your time comparing them to real money lenders. There are better options available that don’t sell your information to third parties.
Happy Money Pros and Cons
Most people would say that this company has more disadvantages than advantages. First, Happy Money is not a lender. This means that if you are looking for a loan, you will have to receive multiple phone calls from different lenders.
Additionally, it sells your information to other lenders. This can be a serious scam for people who are trying to keep their personal information private.
Finally, the company was accused of using bait and switch tactics. This means that they can advertise one thing and then try to sell you something completely different.
What is lucky money?
This is a generator company that sells your information to other lenders. They offer personal loans to pay off your credit card debt, which can be helpful if you are struggling with high interest rates.
However, it is known that the company sells customer information to other lenders, which can be very dangerous. If you are considering using them, do your research and read the fine print before signing up.
How does Happy Money work?
Because this lead generator is not a lender but matches you with other lenders instead. This means you can be bombarded with phone calls and emails from multiple lenders, which can be very overwhelming. In addition, she has been accused of using bait and switch tactics, meaning they lure customers with the promise of a low interest rate and then upgrade once the customer is invested.
Watch out for these potential traps. It is better to work with a direct lender who informs you in advance about their rates and fees. This way you can be sure that you are getting the best deal possible.
Happy Money loan cost
The cost of the loan is very high. Interest rates range from 5.99% to 24.99%. This means that if you consolidate $ 40,000 in credit card debt with a loan, you will pay thousands of dollars in interest. The repayment options are also very limited, ranging from 24 to 60 months. This means that you will be stuck with this high interest loan for a long time. Overall, the cost Happy money the loan is just too high and not worth it.
How do I qualify for Happy Money?
To get started, there is a list of criteria you need to meet:
- Be a US Citizen or Permanent Resident
- You must be at least 18 years old
- Valid bank account
- Minimum credit score 64
- Government issued ID
- A debt to income ratio of 50% or less
- There are no outstanding loans
- At least three years of credit history
Three qualifications that are important for a personal loan are having a valid bank account, being a US citizen or permanent resident, and no outstanding loan arrears. Another factor that will help you qualify for the best rates is your credit score; the higher the score, the lower your stake will be.
To get started, gather documents and qualifications to see if you are pre-eligible for a Happy Money loan.
What loans does Happy Money offer?
Happy Money offers personal loans to pay off your credit cards. However, they are not the ones financing or lending. Happy Money is only an intermediary in this process. And from what we can tell, they’re not very good at it.
The maximum loan amount you can get from Happy Money is $ 40,000. But with the APRC 24.99%, we do not recommend taking out a loan with them. There are much better personal loan options.
Loan amounts: $ 5,000 to $ 35,000
APRIL: 5.99% to 24.99%
How do you pay off Happy Money?
Well, you’re actually not paying back this company. They are a leading producer which means they make money selling your information to lenders. So you basically pay off your direct lender and not Happy Money.
Of course, it’s all hidden in fine print and most people don’t realize it until it’s too late. Until then, they are stuck with a loan they can’t afford and possibly a broken credit.
So be sure to read the fine print carefully and understand exactly what you’re getting into. Otherwise, you may pay much more than you expected.
What is the minimum creditworthiness of a Happy Money loan?
If you want to take out a loan from Happy money, you must have at least 640 credit points. This can be a difficult entry barrier for many people as having good creditworthiness is not always easy. If you do not have good creditworthiness, it can be very difficult to get approved for a loan, and even if you are approved, interest rates are likely to be high. This can make it difficult to make your monthly loan payments difficult and can make it difficult to achieve financial progress.
There are other options for people with bad credit, so if you’re looking for a loan and don’t have good credit, shop around and compare the offers before picking one.
How does Happy Money affect your credit?
If you are considering using Happy Money, it is important to understand how this may affect your credit. One potential downside is that the Happy Money lender network reports you to the credit bureaus. This means that if you make a late payment, it may adversely affect your credit score. In addition, registering with Happy Money can make it difficult to get your credit report. This can temporarily lower your credit score.
Overall, using Happy Money can help you build a positive payment history and improve your creditworthiness over time. However, there are a few potential risks that you should be aware of before signing up. Make sure you weigh all the advantages and disadvantages before deciding whether or not to use Happy Money.
How do I cancel Happy Money?
Happy Money is not a direct lender so if you want to cancel your loan you will need to contact the direct lender to do so. If you have an outstanding balance, you must also pay it off before your loan is officially canceled.
To cancel a Happy Money loan, follow these steps:
- Contact your direct lender and ask for the loan to be canceled.
- If you have an outstanding balance, pay it off in full.
- Your direct lender will then cancel your loan.
After canceling the loan, you will no longer be able to access your funds. Make sure you only cancel the loan if you are absolutely sure that you don’t need the money. Otherwise, you will have to go through the entire credit process again if you decide that you need funds anyway.
Happy Money BBB Reviews
As of May 18, 2022, Happy Money is A + rated by BBB. However, 62 complaints have been closed in the last three years and 21 in the last 12 months. That’s a lot of dissatisfied customers! BBB reviews are important, but do your own research before you start working with Happy Money.
Here are some lucky money BBB Reviews:
Andrzej S 04/03/2022
Happy Money has a very unintuitive web interface which makes processes that should be simple at best incredibly inconvenient and at worst downright confusing or downright impossible. There is little or no transparency, and can best be described as an analog company in the digital world.
Roshaun T. 15/02/2022
I wanted to see what my interest rates were with this company before moving forward so I posted my information to see what I would get. I didn’t go any further, but the very next day one of my credit cards notified me that my social security number had been found on the dark web. It sounds quite ironic that the only place I used my community was this company. Be careful who you give your personal information to.
Andrzej B 08/04/2022
A terrible experience. absolutely no communication. submitted all documents as needed and shows 3-7 days status, and “document preparation” has been over 2 weeks. i used their chat messages to get the update only to get the exact same language as on the website. then i call them to update as my “offer” expires in 2 days.
Remember that for 3 weeks they had everything they needed from me. the person on the phone says he will forward a message to the manager and ask for an extension so as not to lose the rate / offer and I will receive an email immediately. that was 2 days ago. log in today and it will show that the offer expires in 0 days. never got an email from them telling me what was going on, nothing. in the meantime, they ask to be connected to the bank to verify the information and send the identifiers. Worst experience ever. Look elsewhere.
Is Happy Money legal or a scam?
We’re sure you’ve seen the Happy Money ads promising easy money without any credit checks. But is this company legal or a scam?
There have been many reports of lures and the transition from happymoney.com. They advertise that they will lend you money without a credit check and with low interest rates, but when you apply they will tell you that you do not qualify or qualify for a higher interest rate.
So what’s the verdict? I’d say Happy money is not a trustworthy generator company and we recommend you stay away from them. There are too many negative reviews to trust this company.
Have you had any experiences with Happy Money? Let us know in the comments!
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Happy Money Review
There have been many reports of baiting and the switch from Happy Money. They advertise that they will lend you money without a credit check and with low interest rates, but when you apply they will tell you that you do not qualify or qualify for a higher interest rate. So what’s the verdict? I would say Happy Money is not a trustworthy generator running company and we recommend you stay away from them. There are too many negative reviews to trust this company.