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 ...

and Restrictive—based on their payday loan regulations. Nationally, the average usage rate for payday loans is 5.5 percent, but usage by state varies from 1 percent to 13 percent. Usage rates also ...

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.