Consolidate your credit card bills into a single monthly payment. Our low, fixed-rate loan can help you get out of debt and improve your credit score.
Checking your rate won't hurt your credit score.*
Lower rates than most credit cards and customizable loan terms.
A single, fixed, and affordable monthly payment to simplify your life.
Paying off your credit cards can help increase your credit score by up to 40+ points.††
Our team is here, ready to help you along your journey of paying off your credit cards.
These are the most common ways to consolidate your credit card debt.
Doesn't actually eliminate your balances.
Balance transfers move your debt from one or more lender to another. Balance Transfers are best for people who can pay off their entire balance within the 0% introductory period.
Only available if you have a house.
Home equity lines of credit (HELOC) can also help you consolidate your debt, but require you have substantial equity in your home.
Best for those with good credit.
A personal loan is one of the quickest ways to consolidate debt, but is most beneficial if you have a good credit history to qualify for the best rates.
For many people, a personal loan like The Payoff® Loan can be their best option.
“My favorite part about working with the people at Payoff is that they take a real human interest in their customers.”
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® increase of 40 points† †.
To get approved for a Payoff Loan you need a FICO® score at or above 550.
By making minimum payments on your credit cards, you're really just paying the monthly interest they charge. But with a debt consolidation loan, like The Payoff Loan, more of your monthly payment goes to paying down your balance. This saves you time (faster pay off) and money (less interest charged).
Checking your rate won't hurt your credit score. *
‡ The Payoff platform provides loans with fixed rates between 5.99% and 24.99% APR for loan amounts from $5,000 to $40,000. Minimum rate for loan amounts above $15,000 is 6.99% APR. Minimum loan amount and APR may vary in certain states. Loans not available in all states. Rates may change at any time. Visit https://www.payoff.com/loan/rates-and-fees/ for specific details.
* Checking your rate generates a soft credit inquiry that is only visible to you. A hard credit inquiry that can affect your credit score appears when your loan is issued.
† † Based on a study of Payoff Members between August 2020 and February 2021. Payoff Members, who paid off at least $5,000 in credit card balances, saw an average increase in their credit score of 40 points within four months of receiving a Payoff Loan. Results may vary and are not guaranteed.
† The origination fee is charged by the lender who funds and issues your loan through our platform. Lenders do not charge any late, bounced check, failed ACH, or other fees. The origination fee is based on your loan amount, term, and credit quality. This one-time fee is deducted from your loan proceeds when your loan is issued.
** Your repayment terms will depend on your interest rate, origination fee, loan amount, and loan term. Example — A loan of $16,000 at 10.99% APR will have a monthly payment of $413 for 48 months.