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How does the cost of a payday loan compare with conventional credit?

April 26, 2017compare conventional COST credit payday loan

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How does the cost of a payday loan compare with conventional credit?

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Short-term payday loans are costly. In the long term, payday loans are extremely expensive. Untimely repayment of your payday loans makes you incur high interest rates. A delay adds up to extra fees. Payday loans are much more expensive than credit cards or bank loans. Imagine delaying your loan for three months, if the lender allows you to, and ending up paying interest and fees that far exceed the loan amount!