http://www.paydayloansexposed.com/payday-loans/fast-payday-loans/same-day-payday-loans/ How are same day payday loans different from others? Speed! Same day payday loans give your finances speed! en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Same day payday loans are just plain fast - you sign up, you match their minimal requirements, and the money you need is deposited directly into your bank account. Simple. But as with everything in life, when you get you must also give, and in the case of same day payday loans what you give is an exceptional amount if your hard earned financial resources. The cost of same day payday loans Did you read you agreement when you took out payday loans? Did you go over your contract with a sharp, careful eye? Next time, be sure you do, for the hidden small print is quite extraordinary. Specifically, each and every loan agreement must have the quoted APR (annual percentage rate) for your loan printed and in plain wording. This is the Truth in Lending Act hard at work, but more times than not your lender works much harder to make his APR invisible than you work to find it, because if you did you would most likely reject those same fast payday loans you are currently looking for: the average APR for payday loans across the country is somewhere around 400%. Four hundred percent of your loan amount will be due at the end of every year. Why you don't see this is because your short term loans are broken down into two week increments, and your annual picture is basically ignored by all parties. however, the APR for a similar, small-value, short term loans from a bank runs at maximum 35%. For credit cards - which basically act the exact same way as instant payday loans - the APR for the worst credit applicant will not exceed 40%. 400% or 40% interest? You be the judge. So how can these lenders get away with charging between 300-1800% interest for their small, not all that risky loans while required by law to display their ghastly interest rates? You let them. We all let them do it. In our haste for same day payday loans - our financial emergencies or demand for cash - we simply ignore the facts that a same day payday loan is not only unfair but extremely expensive. Don't be fooled into the payday advance These loans are a great means for fast money in financial emergencies, and their use must be limited to such situations. But don't for a second think to yourself that paydays loans are your only option, or that overnight payday loans are the only way to get the money you need tomorrow morning. They are certainly not your only - nor your best - financial opportunity. Aside from quick payday loans you can initiate a savings plan and plan for the financial emergencies before they happen. USe and keep track of your credit card spending, the rates on credit cards are much lower than payday loans. Sat, 26 Jul 2008 15:00:00 EDT