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
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.
Yes. Applying for a Payoff loan is completely online.
The minimum credit score is 640.
The smallest Payoff loan is $5,000.
The largest Payoff loan is $35,000.
The term lengths range from two to five years.
Payoff interest rates range from 5.99% to 24.99%. The actual percentage for your loan will depend on your application.
Yes. Payoff offers fixed interest rates for the life of the loan.
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.
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.
Payoff generally takes three to seven business days to review your application. Approval may take longer based on your information.
After approval, funding takes two to five business days. This may be longer, depending on your loan and bank.
You must wait 30 days to reapply for a Payoff loan.
You can repay your Payoff loan through manual or automatic electronic transfers. You can also make payments by sending in a check.
Yes. There are no fees to pay off your Payoff loan early.
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.
A mobile app is not listed on the Payoff website.
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.