BEST PAY OFF CREDIT CARDS
What is Payoff?
If you have more credit card debt than you can pay off, you’re not alone. Payoff is a financial services company that issues personal loans to people who want to consolidate and pay off their credit card debt. Is Payoff legit? Yes. Payoff has received an A+ rating from the Better Business Bureau
How does Payoff work?
The Payoff loan is designed to help you pay off your credit card debt by consolidating multiple high-interest credit card payments into a single monthly loan payment
Who can qualify?
Payoff considers two major factors . 1.) Credit score 2.) Credit delinquency – before deciding who qualifies for a Payoff loan. To be approved, it’s a good idea to have a FICO credit score over 640 with no delinquencies on your credit report.
Comparing Payoff to other debt repayment solutions
Payoff can help you consolidate your credit card balances into a single monthly payment but so can other loan companies and services.
Payoff vs. debt consolidation loan
There are many types of debt consolidation loans out there, from peer-to-peer lending services to personal loans offered through your own bank or credit union. If you are trying to decide between Payoff and another type of debt consolidation loan, compare all of the variables: interest rates, loan amounts, loan terms and fees.
Is Payoff a good deal?
If you want to consolidate and pay off your credit card debt, Payoff is one of the many options available to you. But is Payoff a good deal? It all depends on what kind of deal you’re able to get from other lenders.
If you are able to qualify for a balance transfer credit card with a 0% intro APR, for example, you might save money by avoiding interest charges for an extended period.