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Payoff Reviews

687 Reviews
Customer Service
687 Reviews 92%
Application Process
687 Reviews 94%
Speed of Loan Received
687 Reviews 93%
Interest Rate
687 Reviews 93%

User Reviews:


Average Rating:

9.3 / 10

Payoff offers debt consolidation loans to streamline your debt obligations and make it easier to pay your bills.  Our reviewers loved how fast and easy the loan application process was as well as how quickly they were able to receive their loan once approved.  If you have been looking for a way out of debt, Payoff is here to help.

What is Payoff?

Payoff is a debt consolidation company that offers personal loans to borrowers so they can pay off high-interest debt for lower interest rates.  Payoff services are for credit card debt, as they do not provide loans for any other reasons. But their rates are almost unbeatable. Qualifying consumers can consolidate up to $35,000 in credit card debt. Payoff works with four of the biggest lenders to get you these competitive rates. Qualified borrowers get insight and assistance into their debt issues with the Payoff app.

Qualifying for Payoff
To get a loan from Payoff, you must have a credit score of at least 640. You also need at least three years of good credit history.  You cannot have delinquencies that were 90 days overdue within the last 12 months.  Your debt-to-income ratio must be under 21%, and you need at least two accounts that are still in good standing.

Wade P.
Wade P.
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I didn't want to consolidate my credit card debt because I was embarrassed. When I realized I was overpaying on high interest rates I realized I needed to take control. All I can say is thank you to Susan at Payoff. She helped me stay on track and provided me with insight on how to best pay off my debt. I give them 10/10, seriously check them out if you're a shopaholic like me.

Learn More About Financial Wellness Through Payoff

Who are Payoff, and can I trust them?
Payoff is a company dedicated to improving the financial wellbeing of its clients. They apply scientific analysis, psychological methods, and advanced technology to assist their members in healing their relationship with money while accelerating their journey toward becoming debt-free. With a diverse team of financial sevices professionals, psychologists and behavioral analysts, data science experts, and neuroscientists, Payoff harnesses the combined skills of their Member advocates and technology experts to help their clients.

Payoff Connects You to Their Dedicated Member Advocates
By connecting you with a dedicated, local team, Payoff provides one-on-one support on your journey toward financial wellness. Payoff’s team of Member Advocates are always available to help and you can always contact them if you ever have any qestions or just want to talk.

Is Payoff Considered a Bank?
Payoff is not a bank; instead they work with verified Lending Partners to source and originate loans for their clients. More information about the various financial institutions and other partners they work with can be found on their website.

Is it Safe and Secure to Use Payoff?
With cutting-edge Security technology and industry standard 256-bit encryption keys, Payoff can be trusted to keep your personal and financial information safe, secure, and confidential.  Their security promise is backed by McAfee security software, one of the most trusted names in cyber security.

Elizabeth W.
Elizabeth W.
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With Payoff I was able to get myself sorted out with all my credit card bills. No more late payments thanks to payoff, and I think I'm going to save a ton of money in the next year.

Why should you consolidate your debt?

Debt consolidation takes all your high-interest debts and wraps them in one single, lower-interest payment. If you’re dealing with a certain amount of debt and want to organize everything neatly into one bill, debt consolidation might be what you need. Doing so can reduce your total debt, and the reorganization can help you pay off your bills faster.

In fact, a lot of people tackle credit card debt by consolidating them. Often people are advised to consolidate their credit card debt into one accessible account; that way, their payments can chip away at the balance in an organized manner.

Why use Payoff

Payoff is a wonderful solution for those who have a good credit history but are overpaying on interest. Our reviewers stated one of the biggest reasons why they choose to get a loan from Payoff is their Member Advocates.

Member Advocates are members of Payoff who work with borrowers by providing personal advice throughout your lending process. First-time borrowers noted that their quarterly check-ups by Payoff Member Advocates helped them stay on track to eliminating debt.

Payoff does not force you to make payments. They simply offer loans and help you throughout the payment process. Payoff has simple quizzes that can evaluate your financial situation. Based on the results of these quizzes Payoff offers support, tools, and resources to help you erase your credit card debt.

Amy W.
Amy W.
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Payoff helped me bring my credit score up by 97 points. It's crazy because just 3 years ago I was denied an apartment because of my credit card debt even though my credit score was 715. It blew my mind, and that's when I realized I needed control of my finances. The process is super simple and I'm glad I did it.

Debt Consolidation is a process which allows you to combine all your debts into one payment in order to help you save on interest payments and help keep track of your total debt. Payoff provides debt consolidation loans which are fixed rate loans meant to pay off the outstanding balances of your existing loans. With a debt consolidation loan from Payoff you can eliminate all of your credit card debt and start paying back a loan which may possibly have a much lower interest rate.

If you are having trouble managing your debt and have numerous outstanding credit card balances, debt consolidation with Payoff may be the best option for you. Using Payoff will allow you to start escaping from underneath all the debt that you have accumulated and ultimately put you on the road toward financial wellbeing.

Payoff was also ranked high in our scores because they offer some of the lowest personal loan rates. Payoff also does not penalize you for paying off loan balance ahead of time.

The one downside noted by our reviewers was that Payoff charged an origination fee. The origination fee ranged between 0% to 5% of the loan balance for reviewers. This should not deter you though, because most lenders charge an origination fee. It is a common procedure when taking out a personal loan.

Fred M.
Fred M.
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This is a great service. I never knew you could get a loan for credit card debt, and I wish I found out sooner. Payoff is very easy to use and they got me my money right away. Thanks to them my credit score has already gone up. Payoff debt consolidation really made a difference for me.

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Our 687 reviewers stated Payoff was worth checking out for their low interest rates, and customer service. Payoff is a debt consolidation company for credit card debt specifically. They not only provide you with a loan but also offer a support team that can help you on your financial journey. Their app is easy to use and easy to understand.


  • Low interest rates
  • Member Advocate Team


  • Only for credit card debt

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