The origination fee covers all the costs to create, manage, and service your Payoff Loan.
We strive to make breaking up with your credit cards as simple and straightforward as possible, by eliminating extra fees and charges, like application fees, prepayment penalties, late fees, and annual fees.
Instead, a small percentage of your total loan amount is simply deducted from your loan amount at the very beginning (0-5% depending on the term you choose). And that’s it. No other fees.
You can read more details about how our origination fee works here.