Payday loans are an easy quick way to get cash fast. Your credit score does not play a factor in whether you get a loan, but the interest rate is usually higher then your typical loan with it being $15 to $20 per every $100 that you borrow. If you look at it from and APR stand point, that’s anywhere from 391% to 521%. Most states allow you to get anywhere from $300 to $1000 through a loan. As the name implies the loan is usually paid back on your next paycheck.

When trying to get a loan the information you need to have with you is a government issued ID,your Social Security Number, proof of income, an active checking account, a personal check, and a valid, active email account.

You can get loans online at websites. Most city have various local places that you can get one as well in person.

This company has been around since 2004 and has a 4.5 star rating according to the Consumers Affair website You can apply online or in person at one of their offices. They do charge a fee for their service that is due at the time you receive your next paycheck. They offer loans starting at $50 to $1000, depending on the state that you reside in.

If you don’t pay back your loan then you can have your wages garnished, you credit score will decrease, and you run the risk of having higher interest rates on any loan you try to get in the future. Most places have an option to pay the loan off faster, but make sure to ask if there is a fee involved. It is very unlikely that you can get a second pay day loan if you have not paid off the first one.

Payday loans are good when unexpected bills or emergency money happen, but is not good for long term investments or if you will be unable to pay it back out of your next paycheck. With higher interest rates and quicker pay back terms it can harm your credit score and make getting loans later more difficult if you do not pay it back on time. So take the time and look at your finances before deciding on whether a payday loan will work for your situation.