Overview of Payoff

Payoff helps you gain better control of your credit card debt. A loan from Payoff helps you consolidate all your multiple debts into one single low rate monthly payment. This can lead to better terms and a faster payoff period.

Payoff lending site is made up of a team of financial professionals. Its main focus is to guide you on your journey towards saving money and eliminating debt.

The Simple Application Process

  1. Check your rate – No application fees or credit score impact
  2. Choose your terms – Select the best offer and finish application
  3. Verify your info – Review and eSign your documents
  4. Receive your funds – Deposited directly into your account

Other factors will be considered before getting approved for a loan at Payoff. Your FICO score should be 640 or higher. Your debt to income ratio should demonstrate a good balance between your total unsecured debt and annual income.

A debt to income ratio equal to 50% stands you a better chance of approval. The total length of time you have been using credit is also a factor considered. That means if you have been a responsible borrower for the past 3 years, you can be funded.

Please note that Payoff is not available in Massachusetts, Mississippi, Nebraska, Nevada, Ohio, and West Virginia.

Student Loans

In partnership with College Ave, Payoff has introduced an improved way of paying off your student loans. The online application process is fast. You will just need to apply through the College Ave portal. Customize your offer through reduced monthly payments.

Refinancing student loans is often a smart choice when dealing with hefty payments. Various refinancing channels are available at Payoff lending site. According to Payoff reviews, saving on student loans becomes possible through:

  • Variable rates
  • No application fees
  • Fixed rates
  • Refinance options for private and federal student loans

Why Pay Off Your Credit Card with Payoff

Accumulated debts resulting from numerous credit cards can be a frustrating experience. As such, paying off your credit cards is a smart investment to make. By paying off your credit card, you cut back on monthly interest and build your savings faster.

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

Payoff Credit Card Rates and Terms

Fixed loan rates start range from between 5.99% and 22.60%. You can borrow a loan amount between $5,000 and $35,000. It is always advisable to choose a loan term that works best for you. 2 years is advisable for smaller loan amounts. 5 years can work for larger loan amounts.

Common fees associated with loans are eliminated at Payoff. These include application fees, early extra payments, check processing fee and annual fees.

The only valid fee bundled inside your loan is the origination fee. It is only charged once when your Payoff loan is issued. Borrowers are expected to meet the following criteria:

  • Individual borrowers must be at least 18 years of age
  • Must have a valid social security
  • A borrower must have a valid checking account
  • Credit Score of 640 or more
  • Good credit history of 3 or more years
  • Zero current delinquencies and none greater than 90 days within the last year.

Reviews of Payoff

Payoff is rated 20 out of 189 companies in total rating and got an average review score of 3.9 based on 7 reviews. Their weakness is Flexibility & Terms and their strength is Interest & Costs.
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ozge_oz 1 review | August 12, 2021
General Review
Upsides
NONE NONE NONE NONE NONE NONE
Downsides
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
Upsides
this is bestmoney borrower to payoff mortgage
Downsides
the price can be lower please for us
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Raudel Gonzalez Jr. 1 review | April 29, 2021
General Review
Upsides
A helping service for credit card debt is always a plus
Downsides
None that I have encountered so far.
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shantelle banks 1 review | April 27, 2021
General Review
Upsides
the great marketing share
Downsides
abit too expensive but worth it
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April 1 review | December 28, 2019
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Upsides
Everything they do
Downsides
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SpacePX 1 review | December 14, 2019
General Review
Upsides
I didn't enounter any problems
Downsides
the user support service isn't that good.
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Jack Harrington 1 review | August 20, 2017
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Upsides
I'm saving lots of money thanks to Payoff. I consolidated my credit card debt and other small payday loans and saving big money in the monthly paymetns now
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