: Borrowers typically provide proof of income and a bank account; most lenders do not perform a standard credit check.
: The loan is usually due in a single lump sum on your next payday, typically within two to four weeks . payday loans cash advances
: Taking these loans generally does not help your credit score because lenders rarely report on-time payments. : Borrowers typically provide proof of income and
: Fees are often flat (e.g., $15 for every $100 borrowed), which can translate to an Annual Percentage Rate (APR) of nearly 400% . $15 for every $100 borrowed)
: You often provide a post-dated check or electronic authorization for the lender to withdraw the full amount plus fees on the due date. Key Characteristics