# A Payday Loan Can Cost Almost 400% a Year – Ask a Credit Union Instead

- Source: Money Crashers
- Published: 2026-10-17T12:45:00+00:00
- Category: Markets
- Original: https://www.moneycrashers.com/payday-alternative-loan/
- Canonical: https://groundlevelnews.com/story/a-payday-loan-can-cost-almost-400-a-year-ask-a-credit-union-instead-0120eb/

A payday lender commonly charges $15 for every $100 you borrow. On a two-week loan, the Consumer Financial Protection Bureau puts that fee at an annual rate of almost 400%. If you can’t repay the whole balance on your next... Source

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