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Payoff Reviews

Debt Consolidation Review: Payoff

Payoff is a credit card debt consolidation company. Click here to learn more

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

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.

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.


John Doe
John Doe
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I LOVE the Payoff app..It's super clean and easy to use. The truth is I opened up 3 credit cards and I just needed some help paying them off. Luckily I got a proper loan.

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.


John Doe
John Doe
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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.

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.


John Doe
John Doe
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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.


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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