with a payday advance if you paydown the amount how much finance charge comes with it?

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with a payday advance if you paydown the amount how much finance charge comes with it?

2006-09-04 05:52:35 · 3 answers · asked by sofinesm 1 in Business & Finance ➔ Personal Finance

3 answers

Typically 10 to 20% per pay period. This translates into and A.P.R. of about 450% . In other words, don't use the payday advance service unless you are in absolute dire straights.

2006-09-04 05:55:51 · answer #1 · answered by Spock 6 · 0⤊ 0⤋

They have crazy finance charges! I wouldn't suggest it unless your desperate. My Brother used to work for one of them years ago, so this may have changed, but I remember him telling me that they have finance charges somewhere around 20% and god help you if your late....

2006-09-04 05:55:43 · answer #2 · answered by hoggendog 3 · 0⤊ 0⤋

Annualized, about 459%

2006-09-04 05:57:03 · answer #3 · answered by snvffy 7 · 0⤊ 0⤋