This blog post from the Cash Back Credit Cards blog differentiates between cash advance fees versus an APR or annual percentage rate that is more commonly associated with credit cards and other types of loans. The bottom line makes sense when you really think about it. The very nature of a payday loan (short-term) would dictate the company having to work with fees versus APR because in two weeks, the company would generate very little interest in a rate that is compounded annually. Read the entire post at Cash Advance Loans - Understanding Payday Loan Costs .

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