Payday loans have become increasingly popular over the years and have become a great tool for those who bills are due right before payday. Payday loans are fast and easy to get and even if you have bad credit, there are lenders who will give you a cash advance on your payroll check. So, historically payday loans have been great for many personal reasons, ranging from paying rent to buying the latest and greatest toy for Christmas. But regardless of why you're getting payday loan, it's important to know how to get a payday loan without getting screwed through hidden interest and fees.

First off, let's talk about why you may have bad credit. Bad credit can be created by a variety of reasons, ranging from being late on a credit card payment, filing for bankruptcy, or having personal belongings repossessed because you failed to pay them off within the time allotted. Because of bad credit, you may have a much harder time getting a loan, or if you do get a loan, you may pay phenomenally higher interest rates that could make you pay up to 3 times what a person with good credit would pay.

So, with what causes bad credit in mind, whatever you do financially, it should be done with the intention of avoiding bad credit. Before buying anything that would be considered a luxury (anything that isn't food, housing, transportation, and clothes), you should make sure your basic needs are met. If you have a family, you should make sure housing bills are paid, you have food in your refrigerator, and everyone has clothes and shoes. After those needs are met, and you have income that you can put away into savings, then should you consider buying fancy gadgets and maybe a cable tv subscription.

Payday loans should only be used in times when you can't afford to pay for necessities. Getting a payday loan for anything other than paying for food, clothes, or rent is just asking for trouble. Because if you get a payday loan and you aren't able to pay it off in time, you can be looking at steep fees, a bad mark on your credit score, AND possibly some ornery debt collectors. Bad habits concerning your bank account can result in many problems for you, some of which that are worse than bankruptcy.

Finding a great payday loan if you have bad credit isn't rocket science. No matter what the reason for why you're getting a payday loan, there are many lenders that will give you cash now that you need for the purchases and payments that just can't wait. The trick with getting a great deal on a loan is to ask around and shop around. Ask your friends if they've used anyone before for a payday loan, if they have, ask them their experience with the company. Also, shop around at various local payday loan centers. Ask them about how much the interest rates are, what fees and penalties are involved, and how much time do you have to repay the loan. Choose the lender that you have the most comfort working with (loan personel that actually seem sincere), a lender with the lowest interest rates, and the company with the smallest fees. A combination of those factors is key for getting the best payday loan with bad credit.