What a $500 Payday Loan Actually Costs, State by State
See what a $500 payday loan really costs in 6 states: fee, APR, and rollover math compared side by side, plus a $200 loan breakdown.
By Derrick Washington
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Reporting, analysis, and plain-language explainers on payday loans, state rules, credit scores, and the lower-cost alternatives most borrowers never hear about.
Latest from Borrow Smarter
Payday Loan Calculator: How to Check the Math Yourself
See exactly how a payday loan fee turns into its APR, with a hand-worked example table for four states and the real cost of a rollover.
By Derrick Washington
Payday Loans Without Direct Deposit: Your Options and the Risks
Paid in cash or gig income with no direct deposit? See which lenders accept pay stubs or bank statements instead, and the risks to watch.
By Lena Whitfield
Payday Loans Without a Checking Account: What's Actually Possible
No checking account? See which payday loan options genuinely exist, what they really cost, and safer paths for unbanked borrowers.
By Lena Whitfield
No Credit Check Payday Loans: What That Really Means
See what "no credit check" payday loans actually check before you apply, and cheaper alternatives that skip the hard pull too.
By Lena Whitfield
What Happens If You Don't Pay a Payday Loan: An Honest Timeline
What happens if you don't pay a payday loan, day by day: ACH cascades, in-house collections, debt validation, lawsuits, and what collectors say that is illegal.
By Derrick Washington