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"It just takes a minute to complete and submit
your online Payoff Loan application."

A loan to pay off credit cards.
The first step to financial wellness is taking control of your credit card debt. The Payoff® Loan gives you the power to reduce multiple high-interest payments into one low-rate monthly payment. With our fixed, low rates and simplified terms, we get you started on the path to eliminating your credit card balances as quickly as possible. One Simple Monthly Payment, Increase Your FICO® Score by 40+ Points*, Pay Off Your Credit Cards Faster

Get the Payoff Loan and enjoy the financial assistance and help today!

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Your Best Interest at Heart

FICO® Score Boost
You don’t have to cut up your cards or close accounts, and after you pay off your balances with the Payoff® Loan, your credit score can increase by 40+ points!*

A Decision That Pays Off
Paying off your credit cards is one of the best investments you can make. With the Payoff® Loan, you may pay less interest, get out of debt sooner and build your savings faster.

Personal Support Along the Way
No matter what part of the process you're in, our Member Experience Team is here in our California office ready to help you along your journey of paying off your credit cards.

Getting Approved

We’re committed to transparency and exposing the inner workings of the lending world because when you apply, you deserve to know exactly what goes into our decision.

Here are clear and simple explanations of the factors considered in your application.

FICO® Score
Your FICO® Score summarizes your credit history. We also provide our Payoff® Loan Members with their free FICO® Score every month.

Debt-to-Income Ratio
Your debt-to-income ratio (DTI) is your total unsecured debt (personal loans, credit cards, etc.) divided by your annual income. A low DTI ratio demonstrates a good balance between debt and income.

Age of Credit History
Your age of credit history is the total length of time you've been using credit. This shows your credit maturity starting from your first line of credit.

Open and Satisfactory Trades
Your open and satisfactory trades are the lines of credit on which you've opened and made payments on time.

Your credit delinquencies are payments you owe and have not currently paid.If you have any, we suggest resolving these before applying for a Payoff® Loan.

Member Benefits

When you get a Payoff® Loan, you become a member in a community that goes Beyond Money.

FICO® Score Increase
Our Members who use their Payoff® Loan to eliminate at least $5,000 of credit card balances see an average FICO® Score boost of 40 points.*

Free FICO® Score Updates
We provide all of our Payoff® Loan Members a free monthly update of their FICO® Score, so you can see your progress and monitor any changes.

Job Loss Support
We understand things happen. If you lose your job, just let us know. We’ll work with you on your payments.

Member Experience Team
Our Member Experience Team not only helps you when problems arise, they proactively support you too. With welcome calls and first-year, quarterly check-ins, our Member Advocates are both your partners and your cheerleaders.

Empowerment Science
We're dedicated to helping our Members better understand themselves and improve their relationship with money through our scientific personality, stress, and cash flow assessments.

Who We Are

We're a team of financial services professionals, research and clinical psychologists, data scientists, neuroscientists, Member Advocates and technology experts working together to better understand and accelerate people’s journey toward financial wellness.

At Payoff, we understand that when our Members choose to focus on achieving financial wellness by eliminating debt and saving money, they win. We're here to enable that journey.

Frequently Asked Questions

Who is Payoff®?
Payoff is a financial wellness company that applies science, psychology and technology to help our Members reinvent their relationship with money and accelerate their journey toward financial well-being. We focus on the intersection of personality and financial behavior, developing products and services that help our Members achieve their goals.

Our team of financial services professionals, research and clinical psychologists, data scientists, neuroscientists, Member Advocates and technology experts work together to better understand and accelerate our Members' journey toward financial wellness.

Who are the Member Advocates?
Member Advocates are the people who make up our dedicated, local team working with you one-on-one to support your personal journey toward financial wellness. As a company, we're heavily invested in our Members' success, and we only succeed when you make positive steps toward financial wellness. If you ever have questions or want to talk, please don’t hesitate to contact us.

Is Payoff a bank?
We are not a bank. Payoff works with verified Lending Partners to originate loans. Information about our Lending Partners, including their address, financial institution types and/or charters, as well as links to their websites and privacy policies can be found on our Lending Partners page.

How does Payoff protect my personal information?
We pride ourselves on having security that not only meets but exceeds industry standards. We use state-of-the-art security technology, certified by McAfee. We store all sensitive financial data, such as Social Security numbers and bank account numbers, in a highly secure environment using 256-bit encryption.

Will Payoff sell or make public my personal information?
In order to offer you the highest-quality financial products and services that are personalized and aligned with your best interests, we carefully curate trusted partners and third-party offerings. We always respect your privacy, so we only share information with your permission. And you can opt out at any time.

What is the Payoff® Loan?
The Payoff Loan is a personal loan between $5,000 and $35,000 designed to eliminate or lower your credit card balances. The Payoff Loan is designed to allow you to take control of your finances and pay your credit cards off faster. This is made possible by consolidating your high-interest card balances into one monthly payment at a fixed rate and term.

Will checking my rate for the Payoff Loan affect my credit?
Checking your Payoff Loan rate will not hurt your credit. Right before you finalize your Payoff Loan, we run a hard inquiry, which can impact your credit. But good news, our Members see an average FICO® Score increase of 40 points*.

Is the Payoff Loan available everywhere?
We are working hard to offer the Payoff Loan in all states. Currently, the Payoff Loan is not yet available in Connecticut, Delaware, District of Columbia, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Nebraska, Nevada, New Hampshire, North Carolina, Ohio, Oklahoma, Vermont, Virginia, Washington, West Virginia, and Wisconsin.

Can I use the Payoff Loan for anything other than credit cards?
The Payoff Loan is designed to eliminate credit card debt. In some cases, the Payoff Loan can be used to consolidate prior installment loans. We’ve also teamed up with College Ave Student Loans to help eliminate student debt. To find out more, please contact us.

Can I use the Payoff Loan for my spouse's cards or debts?
We do not offer joint applications at this time. Currently, you may only pay off outstanding balances that are verifiable on your personal credit report.

Can I make additional payments?
Yes! In fact, we encourage it. Making additional payments is always a good idea and can help you end your debt more quickly, as well as minimize your overall paid interest.

Are there any prepayment penalties?
No. There are no prepayment penalties with the Payoff Loan.

How quickly can Payoff fund my Payoff Loan?
Most approved loans are funded within two to five business days after the verification process is completed.

What is the approval criteria for the Payoff Loan?
We're transparent about our approval criteria, and we encourage you to review the main approval factors here before you submit your application.

I don't have any credit. Can I get the Payoff Loan?
You need at least three years of established credit to be eligible for the Payoff Loan. Click here to learn more about how we determine eligibility for the Payoff Loan.

What additional information may Payoff require during my application?
A few things you may need to provide for verification purposes are:

  • A bank statement or bank credentials to securely link your bank account
  • A driver's license, passport or state issued ID to verify your identity
  • Your two most recent paystubs or most recent tax return if self-employed to confirm your income
To learn exactly how to prepare your documents and finalize your Payoff Loan application, see our Document Upload Guide.

When are my Payoff Loan Payments due?
Your payments are withdrawn directly from your designated checking account on a monthly basis. You can find your payment date on your promissory note or in your Member Account. You can change your date once every 12 months.

What happens if I can't make my monthly payment?
Life happens and we understand that. Please contact us if you're experiencing difficulty with your monthly payments. We’re always here to help and will work to understand your individual situation to keep you working toward your goal of paying off your credit cards.

What is an origination fee?
An origination fee is a nonrefundable prepaid finance charge. The fee helps cover our costs and allows us to create products and provide personalized services that help you on your way towards financial freedom.

What do I do if I'm not approved for the Payoff Loan?
You can apply somewhere else, or you can wait and reapply in 30 calendar days after a declined application.

What's the difference between a hard inquiry and soft inquiry?
A soft inquiry is when someone checks your credit report for any number of reasons (rent, background check, pre-approval, etc.), and it does not affect your credit score. When you check your rate for the Payoff Loan, we do a soft inquiry.

A hard inquiry is when a financial institution (a bank, Payoff, credit card or mortgage company, etc.) checks your credit report before giving you a loan. Unlike soft inquiries, hard inquiries can affect your credit score and remain on your credit report for two years. For added security, we do a hard inquiry right before you finalize your Payoff Loan to check for new unsecured personal loans as well as bankruptcies and delinquencies. - Personal Loans Online

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