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Did you receive a pre-approval offer in your mailbox from Payoff Inc. by Happy Money?
Did the offer claim that you can save $10,000 or more?
Did the offer claim to offer rates of 5.99% to 24.99%.?
Did the offer look similar to the offer below?
Payoff Inc. Fast Facts
Loan Amounts: $5,000 to $35,000
APR: 5.99% to 24.99%
Minimum Credit Score: 640 score
- Loan Type: Multi-purpose personal loans
- Repayment Terms: 24 to 60 Months
- Direct Lender or Marketplace: Marketplace
- Turnaround Time: 2 to 5 days
- Best For: Anyone looking to improve their financial state
Payoff Inc. Pros & Cons
Pros
- No prepayment fees
- Monthly FICO score updates
- Wealth of educational resources
- No late fees
Cons
- No joint applications
- 0% – 5% origination fee
- For credit card debt consolidation only
Payoff Inc. Cost of Loan
With Payoff, customers can consolidate up to $35,000 in credit card debt. They also offer extremely competitive rates ranging from 5.99% – 24.99%, and repayment options ranging from 24 to 60 months. However, they may charge an origination fee to process the loan. This fee can be between 0% and 5% and depends on things like your credit history and the loan amount.
Qualifications
To get started, there is a list of criteria you need to meet:
- Be a US citizen or Permanent Resident
- You must be at least 18 years of age
- Valid bank account
- Minimum credit score of 640
To apply for Payoff you need to have access to the following information as well:
- A government-issued ID
- Debt-to income ratio of 50% or less
- No delinquencies on any outstanding credit
- At least three years of credit history
After you have met all the qualifications, you can get started by following these few steps:
- Go to Payoff’s website
- Click Check My Rate. If you have an invitation code, …….
Source: https://crixeo.com/debt-consolidation/payoff-inc-review-complaints/
