How to Ask for a Credit Card Payoff

Carrying a credit card balance can be costly. Interest rates on credit cards can be as high as 30 percent. Paying your credit card balance off quickly will help you save on interest charges. You may not realize that the balance on your last credit card statement is not the payoff amount. The statement may not have any outstanding charges and interest that accrues daily. Before you write that check to the credit card company, you need to find out the exact payoff amount.

Call the credit card company to speak with a representative. You can find the customer service toll-free number on the most recent statement. You will reach the automated menu. Some menus will prompt you to enter your account number and PIN, or personal identification number, before proceeding. Listen carefully to the options and press the number to speak with a representative.

Provide your credit card account number, your name and personal information for identification. Ask the representative for the payoff balance on your account. The representative will give you an amount of payoff for that day. Write it down.

Ask the representative for the 10-day payoff balance. This will be enough time for the bank to receive your check in the mail and post it to your account. The 10-day payoff amount includes the interest that has accrued so far and will accrue during the next 10 days. If the amount is more than the payoff when the bank receives the check, you will receive the difference in the mail when the current statement cycle ends. If the representative fails to give a 10-day balance, ask him for the daily interest amount based on the current balance. Multiply the number by 10 days and add the amount to the balance. This is your 10-day payoff balance.


  • Compare your receipts with the transactions on your current statement. When speaking with the representative, ask if any transactions are pending. Interest is calculated based on your average daily balance. Any outstanding transactions will increase the balance on your account and the interest charge. Check your next statement for any new transactions, fees and interest charges.