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Perhaps, the answer to this is another question: is there such a thing as a cheap payday loan?
In the context of payday loans, cheap is a difficult thing to quantify. As a form of consumer credit, payday loans are never going to be a contender in the cheap credit stakes. Without a doubt, there are other less expensive forms of credit available. However, these other types of credit are only available if you are deemed to suitably credit worthy and eligible in the eyes of the lender.
Cheap is not an adjective that automatically springs mind, or even means the same thing, when discussing payday loans. Be aware that in general the payday loan sector's interest rates are expensive, so cheap is relative to the benchmark to which it is compared. In this case, payday loans billed as cheap are likely to be just slightly less than expensive than the next guy.
In the context of payday loans, cheap is a difficult thing to quantify. As a form of consumer credit, payday loans are never going to be a contender in the cheap credit stakes. Without a doubt, there are other less expensive forms of credit available. However, these other types of credit are only available if you are deemed to suitably credit worthy and eligible in the eyes of the lender.
Cheap is not an adjective that automatically springs mind, or even means the same thing, when discussing payday loans. Be aware that in general the payday loan sector's interest rates are expensive, so cheap is relative to the benchmark to which it is compared. In this case, payday loans billed as cheap are likely to be just slightly less than expensive than the next guy.
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