Why Is Payoff loans the ultimate personal loan tool to pay off credit cards?
This company known as Payoff specializes in helping consumers get control of their credit card debt. As the name says it is an excellent tool to get control of credit cards and to pay those high balances off forever.
The company consists of a team of financial services professionals. You have all types of people that work with you including research and clinical psychologists, data scientists, neuroscientists, Member Advocates and technology experts. They are all working together to better understand a persons journey toward financial wellness.
What Does A Typical Borrower Requirements Look Like When Applying For PayOff Personal Loans?
You specifically need to be looking to apply for a personal loan to get control of your credit card debt. Credit Card consolidation is the key word. Below we list some basic criteria for you when thinking about applying for a “Payoff” loan.
1. You will want to consolidate over $5,000 in credit card debt.
They are looking for individuals who have at least one or more credit cards with a total balance exceeding five thousand dollars. Generally you can get a credit card consolidation loan all the way up to $35,000 depending on your credit and other factors.
2. Have a minimum credit score of 660
Basically you need to have a minimum credit score of at least 660 to qualify for a Payoff Loan. Just because you have a high credit card balance does not mean you should not get a personal loan. But, having a minimum of 660 shows Payoff that you have at least been responsible when paying on those credit cards.
3. If you want a personal touch to getting out of debt
Payoff loans give you a leg up and a personal touch to helping you deal with large amounts of credit card debt. They want you to succeed and have the people in place to make it happen. So if you want the right information and someone to walk with you in the journey to financial freedom, this is the company.
What Are The Interest Rates on PayOff Personal Loans?
A typical personal loan with Payoff will be in the range of an APR from 8-25%. The eight percent will be for those with a very good credit score. The Twenty five percent range is of course for those closer to the 660 credit score. You will know the numbers upfront and this company is very transparent when it comes to their loans.
How Much Can I Borrow?
The minimum of course they want to see is at least $5000 in credit card debt and they will go up to $35,000. The loan terms can be anywhere from 24 – 60 months in length.
Does Payoff Offer Personal Loans in Every State?
Payoff does not offer personal loans for credit card consolidation in all 50 States yet. We have listed the states below that they do not off loans.
AL, AZ, CT, DE, IA, KS, LA, MA, MD, MI, MN, MS, NC, NE, NH, NV, OH, OK, RI, SD, TN, VA, VT, WA, WI, AND WV
If your state is not listed above you can apply for a Payoff loan to consolidate your credit cards.
How Do I Apply For My Payoff Loan?
OK, so you have met all the criteria above and want to start getting those credit cards paid off. To proceed to consolidate your credit card debt, visit Payoff.com – A way to Pay off Credit Cards
What Are Alternatives to a Payoff Loan If I Do Not Meet The Requirement Above?
If your state is not included or you do not meet all the requirements above, there are alternative places to apply online for personal loans. We recommend a personal loan network. Visit PersonalLoans.com to get matched to the best personal loans in their lending network.