How are payday loans different from credit cards, bank overdrafts or other forms of credit?
Payday Loans differ from traditional forms of credit like credit cards and bank overdrafts in that they are purely short-term sources of credit a typical payday loan will last for no longer than a duration of 30 days. The average charge for a payday loan is 25% for every 100 borrowed – in some instances payday loans can work out cheaper than bank overdrafts.
Payday Loans differ from traditional forms of credit like credit cards and bank overdrafts in that they are purely short-term sources of credit – a typical payday loan will last for no longer than a duration of 30 days. The average charge for a payday loan is 25% for every £100 borrowed – in some instances payday loans can work out cheaper than bank overdrafts.
