Hey Window Shopping,
Since we offer our customers a financial product, we are required by law to report our rates on our website as an annual percentage rate (APR). APR is meant to represent the cost of a loan borrowed for an entire year. Since payday loans are only borrowed for a couple of weeks, the APR will be quite large. However, if you look at the cost of the loan in dollar amounts, not APR, you'll start to understand why APR isn't the best way to represent the cost of a payday loan. To give you an example, let's say you take out a $100 payday loan at 486.67% in Mississippi for 15 days. The APR sounds high, but you would end up paying back $120 at the end of the 15 days, which is just $20 more than the amount you originally borrowed. Keep in mind that loan types and rates and terms vary by state. If you want to find out more about loans in your state, please check out our Rates and Terms page or feel free to call us anytime at 888.801.9075 or chat with us live.