If you have an outstanding CleanSweep balance, you still need to make payments toward that balance. If you have no outstanding balance transfers, there's nothing else you need to do.
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Related Articles
It’s not possible to consolidate debt with zero credit score impact: any application for new credit usually affects your credit score. However, debt consolidation with a personal loan can improve your score over time.
Most personal loan application delays come down to a few things. Missing or mismatched documents, failed income verification, unanswered follow-up requests, and submitting multiple full applications to different lenders are some of them. Knowing what to look for can help you identify and address potential delays.
Lenders usually evaluate your credit score, debt-to-income ratio, income stability, and application accuracy when making an approval decision. Each one is within your control to varying degrees. Improving on these can be beneficial before you apply for a personal loan.
Your debt-to-income (DTI) ratio is your total monthly debt payments divided by your gross monthly income, expressed as a percentage. It is one of many factors used to determine your creditworthiness.
A fixed-rate personal loan locks in your APR and monthly payment for the full term. A variable-rate personal loan ties your rate to a market index, which can move up or down over time. Fixed rates typically protect you from rate increases. Variable rates carry the risk of rising costs.
Related Impact
Today, we are thrilled to announce the completion of our acquisition of Radius Bancorp, Inc. (“Radius”). In February 2020, we announced our intent to acquire Radius and shared how we can grow and deepen our customer relationships with a marketplace bank.
Related FAQ's
Your CleanSweep line of credit is now closed. You can't make any new balance transfers.
The CleanSweep account closure has no impact on your personal loan or any other of your Happen accounts.
Through the course of continuing to test and refine this product, we have made the difficult decision to discontinue CleanSweep.
We're sorry. As of December 18, 2024, Happen Bank discontinued the CleanSweep line-of-credit product.
Happen Bank does not report CleanSweep accounts to the credit bureaus, which means the closure of your account will not affect your credit score or be provided on your credit report.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
