Payoff Review

Is this the loan company for you?

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  • Loans specifically for credit card debt
  • No fees for paying with checks


  • Not available in all 50 states
  • Three years of established credit needed

What You Need to Know

The Payoff loans are specifically for paying off credit card debt. They may be able to offer certain personal loans if you contact customer service. Payoff loans are geared toward paying off credit card debt.

Payoff does not charge a check processing fee for making payments with checks. You can also make payments through automatic transfers or manual electronic transfers. You make the manual transfers through your online Payoff account.

Payoff loans are not available in all 50 states. Payoff loans are not offered in Massachusetts, Mississippi, Nebraska, Nevada, and West Virginia. If you live in these states, you cannot currently apply for a Payoff loan.

To apply for a loan with Payoff, you must have at least three years of established credit. If you have this credit history, you are eligible to apply. Other requirements must still be met for loan approval with Payoff.

Qualifications to Apply for Payoff Loans

Useful Information About Payoff Loans

History and Achievements

Payoff started in 2009, in Culver City, California. The founders, Scott Saunders and Eden Warner, wanted to start a company to help American's pay off their debts. Payoff loans are specifically for those looking to pay down their credit card debt. They work to help customers understand their own relationship with money.

By 2015, Payoff had raised over $300 million in equity and debt capital. This money went to help fund consumer loans.

Payoff is not a bank. Instead, they are a company that works with lending partners. They work to find customers the best loan for their needs. Today, they have over 100 employees. Their headquarters are in Costa Mesa, California.

Frequently Asked Questions

Can I apply for a loan entirely online?

Yes. Applying for a Payoff loan is completely online.

What is the lowest my credit score can be?

The minimum credit score is 640.

What is the smallest loan amount available?

The smallest Payoff loan is $5,000.

What is the largest loan amount available?

The largest Payoff loan is $35,000.

What are the loan term lengths?

The term lengths range from two to five years.

Are the interest rates competitive?

Payoff interest rates range from 5.99% to 24.99%. The actual percentage for your loan will depend on your application.

Are the interest rates fixed?

Yes. Payoff offers fixed interest rates for the life of the loan.

What types of loans are available?

Payoff loans are primarily for paying off credit card debt. Other loans may be available. You must contact customer service to ask about those loans.

What information do I need to apply for a loan?

Personal information includes a valid social security number, bank account, and address. You must provide employment status, employment history, and credit history. Depending on your application, you may need to provide more documentation.

How long does approval take?

Payoff generally takes three to seven business days to review your application. Approval may take longer based on your information.

How long will it take the money to enter my account after approval?

After approval, funding takes two to five business days. This may be longer, depending on your loan and bank.

If I have been denied a loan before, how long do I have to wait to apply again?

You must wait 30 days to reapply for a Payoff loan.

What are the payment options to repay my loan?

You can repay your Payoff loan through manual or automatic electronic transfers. You can also make payments by sending in a check.

Can I pay my loan off early?

Yes. There are no fees to pay off your Payoff loan early.

Is my information secure?

Payoff has security measures that comply with federal laws. Their computers have safeguards. Their files and buildings are secure. Payoff limits customer information accessible to employees.

Does this loan company offer a mobile app?

A mobile app is not listed on the Payoff website.

How do I contact customer service?

Through phone, mail, or phone. The Payoff website offers online chat. Customer service is available Monday-Friday from 7 a.m. to 6 p.m. PST and Saturday from 8 a.m. to 5 p.m. PST. You can follow Payoff on Facebook, Instagram, Twitter, and YouTube.

Bank Contact Information

3200 Park Center Drive, Ste. 800
Costa Mesa, CA 92626