I can tell a whole bunch of people that have no clue how payday loans work are chiming in. They do not have high interest rates, those advertised rates of 300% interest only apply if someone takes a loan out on every paycheck for an entire year then they would have paid that high 300% interest rate over the year. The individual paycheck loans are from 10-15% of what is borrowed due in 1 pay period.


Hell you can't even get a secured card with 15% interest unless you have decent credit.

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