Should you use Payoff?
You may not like Payoff if you .
Have at least a 640 credit score
Qualify for the lender s lowest APR
Want to borrow as much as $40,000
Want to avoid late payment fees
Want to use a personal loan for a purpose other than consolidating credit card debt
Want your money in under two days
Live in a state not in the company s coverage area
The bottom line:Payoff is a great lender for those with good credit scores who are eligible for the lender s lowest APR. However, Payoff only allows borrowers to take out personal loans to consolidate credit card debt, so if you want to get a personal loan for another purpose, you re better off looking elsewhere.
Best online personal loans of April 2021 Alyssa Powell/Insider
The best online personal loan lenders of April 2021
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Rates are current as of April 28, 2021.
If you find you re in need of some fast cash to do things like refinance your credit cards, improve your home, or take a vacation, a personal loan could be a good option for you. With a personal loan, you apply to borrow a certain amount of money. The lender will show which offers are available to you based on financial factors such as your credit score, debt-to-income ratio, and ability to repay the loan.
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