A personal loan to pay off credit cards

The Payoff Loan™ – funding your happiness

Rates start at 12.45% APR ‡

Personal loans between $5,000 - $40,000 ‡

Paid off in 2-5 years**

Checking your rate is free and won’t impact your credit score*




With a single, fixed payment and a set paid-off date, a Payoff Loan™ streamlines paying off credit card debt.

Paying off your credit cards with a Payoff Loan™ can save you thousands of dollars thanks to low interest rates.

By paying off debt with The Payoff Loan™, some members have increased their FICO score by up to 40+ points.††

Best Personal Loans Of February 2022


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Go debt-free your way

Let’s remove stress from the equation

Finances can be overwhelming. We’re here to help.

Stress less, save more

Take control

Personal support

Paying off credit cards is one of the best ways you can make sure you won’t be stressed about money. As an added bonus, you’ll be saving on interest along the way.

Instead of operating on someone else’s timeline, you get to choose your terms, pay off date, and monthly payment. With us, you’re in control of your own money.

Our Member Advocates are here to help you succeed. No more hour-long waits or chatbots that get you nowhere - you’ll be speaking to real people who really care. 

How the Payoff Loan works

We get to know you

We take a look at your credit, income, and savings to determine your Payoff plan options. No consequences or commitments.

You choose your Payoff plan

We’ll show you multiple options including the lowest monthly payment, best rate, and quickest way to pay off.

Verify & Finalize

We finalize all the legal documents and verify your information before dropping the money into your account, or paying the credit card company directly.

See what goes into getting approved

The Payoff Loan vs Credit Cards

The Payoff Loan

Credit Cards

Focused on you and your goals

One fixed monthly payment

Designed to help boost your FICO score*

Yes, it’s possible for a loan to work on your terms

One fee, one time

We keep it transparent: an origination fee is charged by our lending partners when your loan is issued, and that’s it.† If that sounds intimidating, don’t stress: the origination fees range from 0% and 5%, and there are no hidden charges.

Track your journey

Our online Member Portal allows you to monitor payments, track your progress, and directly contact our support team. Think of it like a one-stop-shop for all of your Payoff Loan™ needs.

Funding timeline

We’re excited to help you fund your happiness, but please note you’ll get your funds after your information is verified as part of the approval process.

Understanding the numbers

Personal loans made personal

See what our members have to say about their Payoff Loan™ experience.

“Getting a loan from Payoff was the best decision I made. My credit score went up and I am paying off the loan much faster than paying off my credit card.”

“It was just so easy to use and just really transparent.”

Hyung L.

Zachary R.

“There’s a little weight off of my shoulders. I am so happy that this company understands that punishment is not the key to financial prosperity.”

“It is amazing to see just one bill from Payoff rather than 4-5 bills from various credit card companies.”

Tai H.

Jimmy S.

We’re here to support you

If you prefer to read, dive into our always-growing library of support articles. When you need to talk to someone, we have a world-class support team at your fingertips. They keep it helpful, friendly, and confidential seven days a week.

Some frequently asked questions

What is the Payoff Loan™?

The Payoff Loan™ is a personal loan between $5,000 and $40,000‡ designed to help you eliminate or lower your credit card balances. We’ve built The Payoff Loan™ to give you control of your finances and pay your credit cards off faster by consolidating your high-interest card balances into one monthly payment at a fixed rate and term of your choosing.

Will checking my rate hurt my credit?

Don’t worry, checking your rate will not hurt your credit*. However, before you finalize your Payoff Loan™, we will run a hard inquiry, which can impact your credit score. Luckily, our Members see an average FICO Score increase of 40 points after making their first few payments!††

What do I need to apply?

We’re proud to be transparent about our approval process, and we encourage you to review the main requirements here before you submit your application.

Let’s fund your happy

Happy Money works with Lending Partners who originate loans. Individual borrowers must be at least 18 years old and have a valid social security number and a valid checking account. All loans are subject to credit review and approval. Your actual rate depends upon credit score, loan amount, loan term, credit usage, credit history, and state of residence. Currently, loans are not offered in MA and NV. Our mailing address is Happy Money (Payoff), 21515 Hawthorne Blvd, Suite 200, Torrance, CA 90503.

‡ Happy Money offers fixed rates between 11.72% APR and 24.67% APR for loan amounts from $5,000 to $40,000. The minimum rate for loan amounts above $15,000 is 12.45% APR. The minimum loan amount in NM is $5,100 and in MD is $6,100. The minimum loan amount and APR may vary in certain states. Rates depicted are accurate as of November 20, 2023. Please see https://happymoney.com/rates-and-terms/ for specific details.

†† 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.

† An 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 13.64% APR will have a $480 origination fee and a monthly payment of $421 for 48 months.

* 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.

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