as interest rates on loans are generally considerably lower compared to credit cards. There are some exceptions to that rule—payday loans, for one—but using a loan calculator will help you ...

Payday loans provide immediate funds, come with extremely high interest rates, and are usually based on your income, not your credit history. "Payday loans come at a price," says Kendall Clayborne ...

The interest can accumulate quickly. A two-week payday loan could have a fee of $15 per $100, which equals an APR of about 400%, much higher than the rate of a typical personal loan or credit card.