About Payoff
Payoff, now known as Happy Money, specializes exclusively in loans designed to pay off credit card debt. The company offers loans from $5,000 to $40,000 with competitive rates and a focus on improving borrowers' financial health. Payoff sends funds directly to credit card issuers for seamless debt consolidation.
What's Great
- ✓Exclusively focused on credit card debt payoff creating a streamlined experience
- ✓Direct payment to credit card issuers eliminates the temptation to spend loan proceeds
- ✓Competitive rates for borrowers with good credit seeking debt consolidation
- ✓Financial wellness tools support long-term debt-free habits
Watch Out For
- !Only available for credit card debt payoff — cannot use for other purposes
- !Minimum loan of $5,000 may exceed some borrowers' credit card balances
- !Origination fees reduce the net amount applied to debt payoff
- !Not available in all states
Common Use Cases
Borrower wanting to consolidate multiple credit card balances into one lower-rate payment
Individual seeking a structured payoff plan with direct creditor payments to avoid spending temptation
Credit card holder wanting to reduce interest costs while building better financial habits
Pricing Model
Paid
Paid subscription required. Check the website for current pricing and free trials.
Category
Debt Consolidation
Combine multiple debts into a single loan with a lower interest rate.
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