A payday loan has many names. It can be called a check advance loan, a cash advance loan, a deferred-deposit check loan or a post-dated check loan. The Federal Trade Commission in the USA calls it “costly cash”. No matter what you call it, it’s the same thing: a small short-term loan (usually $50 to $1500) with a quite high interest rate. Since instant payday loans are so expensive, you should save on its expenses as much as you can. Read the rest of this entry »