Free Credit information including Credit Reports, Credit Cards, scores and much more

Free Credit Report Home

Buying a house   

Buying a Car   

Credit Card   

Bad Credit   

Credit repair   

Credit report   

Payday Loan   

Tips on Saving Money

free credit report 

Looking for Credit Cards

Real Estate Information

Great Credit Links

 

 

 

APR of Payday loan

the Annual Percentage Rate, the real cost of a loan on an annual basis is a good measure of the cost of a loan. The APR of  a mortgage might be at most 10% these days, or a credit card, at most 20%.

Here is a sample chart of a typical payday loan. Notice the last column:

 

LOAN
AMOUNT
(Amount Financed)
LOAN TERM:
1 PAYMENT
(# of Days)
LOAN
FEE
(Finance Charge)
CHECK
AMOUNT
(Total of Payments)
APR
$100.00 18

$25.00

$125.00 506.94%
$100.00 14

$25.00

$125.00 651.79%
$100.00
7
$25.00
$125.00
1303.57%
$200.00
18
$50.00
$250.00
506.94%
$200.00
14
$50.00
$250.00
651.79%
$200.00
7
$50.00
$250.00
1303.57%
$300.00
18
$75.00
$375.00
506.94%
$300.00
14
$75.00
$375.00
651.79%
$300.00
7
$75.00
$375.00
1303.57%
$400.00
18
$100.00
$500.00
506.94%
$400.00
14
$100.00
$500.00
651.79%
$400.00
7
$100.00
$500.00
1303.57%
$500.00
18
$125.00
$625.00
506.94%
$500.00
14
$125.00
$625.00
651.79%
$500.00
7
$125.00
$625.00
1303.57%

 

 

 

Xbox 

Glossary   

Domain Registration

Online Sportsbook

Free Games Online

Credit Cards Casino Site Map
 Online Dating California Mortgage Brokers Greatest Person ever Prepaid Legal

A lot of the information on this site was taken from the FTC. Some of it copied directly. If you want, call them at 1-877-FTC-HELP