A payday lender quotes a fee. A cash advance quotes a subscription. An installment lender quotes an APR. Three different units, so nothing can be compared until you convert them into the same one.
This page shows how to do that conversion in about ten seconds, applies it to real offers including our own, and explains the structural difference that matters more than any of the numbers.
Turning a flat fee into an APR
Any fee can be expressed as an annual rate with one formula. It is the only way to compare a two-week fee against a twelve-month interest rate.
A $15 fee on $100 for 14 days: (15 ÷ 100) × (365 ÷ 14) × 100 = 391% APR.
| Offer | Fee | Term | Equivalent APR |
|---|---|---|---|
| Typical payday loan | $15 per $100 | 14 days | 391% |
| Higher-cost payday loan | $20 per $100 | 14 days | 521% |
| Very short payday loan | $15 per $100 | 7 days | 782% |
| Advance app express fee | $5.99 on $200 | 14 days | 78% |
| FrontPay membership on $200 | $14.99 | 14 days | 195% |
| FrontPay membership on $400 | $14.99 | 30 days | 46% |
The difference that matters more than the rate
APR is the honest comparison number, but it is not the thing that does the damage. The damage is structural: a payday loan is due in full on your next payday, in a single balloon payment.
If you could spare $345 out of one paycheque, you would not have needed to borrow $300. So the loan is rolled over. A new fee is charged, the principal is untouched, and the cycle restarts.
| Elapsed | Fees paid | Still owed |
|---|---|---|
| 14 days | $45 | $300 |
| 28 days | $90 | $300 |
| 42 days | $135 | $300 |
| 56 days | $180 | $300 |
| 70 days | $225 | $300 |
Ten weeks in, $225 has been paid and the debt is exactly the size it started. That is not a borrower failing — it is what a balloon payment does to anyone whose budget was already tight enough to need the loan.
An installment structure removes the mechanism. Each payment reduces the principal, so the balance falls whether or not the month goes well, and there is a date on which it ends.
Being straight about it
We are cheaper than payday lending. We are not cheap.
Our interest-bearing products run from 35.99% to 179.99% APR. That is a fraction of 391%, and it is still expensive credit. If a credit union or a bank will lend to you, they will beat us comfortably.
Side by side
| Payday loan | FrontPay | |
|---|---|---|
| Amount | $100 – $500 | $200 – $5,000 |
| Repayment | Whole balance on your next payday | Across 1–24 scheduled payments |
| Typical cost | 391% APR and up | 0% with membership, or 35.99% – 179.99% |
| Rollovers | Common, and where the cost compounds | Not offered |
| Late fees | Usual | None on Advance or Flex |
| Early payoff | Sometimes penalised | Never penalised |
| Builds credit | No | Yes, on installment loans and credit lines |
| Collections on an advance | Yes | No, and never sold or reported |
Cheaper than both, if you can get it
Credit union PAL
Payday alternative loans are capped at 28% APR by federal rule. $200 to $2,000. You need to be a member, which is often easy and quick.
Employer earned wage access
Many employers now offer access to wages already earned, often free. Ask payroll before you borrow anywhere.
Ask the biller first
Utilities, hospitals and landlords routinely agree payment plans. A plan costs nothing; borrowing to pay in full costs interest.
Dial 211
Free referral to local emergency help with rent, utilities and food. No repayment involved at all.
Bank overdraft line
Some banks offer a small overdraft line of credit far below any of these rates. Worth one phone call.
Existing credit card
Even a card cash advance at 25–30% plus a 5% fee undercuts everything on this page, if you have the limit.
Questions about the comparison
Is a cash advance the same as a payday loan?
No. The important difference is structure rather than branding. A payday loan is due in full on your next payday, which is what drives rollovers. A cash advance or installment loan is repaid across scheduled payments that each reduce the balance. The cost is usually lower too, but the repayment shape is what changes outcomes.
How do I convert a fee into an APR myself?
Divide the fee by the amount borrowed, multiply by 365 divided by the number of days, then multiply by 100. A $15 fee on $100 for 14 days works out at 391% APR. Doing this to every offer in front of you is the fastest way to see which is actually cheapest.
Is 0% interest really 0%?
The interest is genuinely zero, but the $14.99 membership is a cost, and expressing it as an APR is the fair comparison. On $400 over a month it works out around 46%; on $200 over a fortnight it is around 195%. Cheap in dollars, but not free, and worst value on the smallest shortest borrowing.
Why are payday loan APRs so high if the fee looks small?
Because APR annualises. A $15 fee on $100 is 15% of the amount for two weeks, and there are roughly 26 two-week periods in a year. The fee is small; the rate of charge is not. That gap is exactly why the fee is quoted instead of the rate.
Do you offer rollovers?
No. You can ask us to move a payment date before it falls due, at no cost, but there is no product here that charges a new fee to extend the same balance.
Are payday loans illegal in some states?
Several states cap the rate at a level that makes storefront payday lending unviable, and others prohibit it. Rules change, so check your own state's current position rather than relying on any lender's summary, including this one.
Where to go next
Worked payment examples and the total cost for every amount.
CreditLoans with no credit checkWhat gets checked instead, and what skipping the check costs.
CostsRates and fees in fullEvery charge for all four products, plus a representative example.
ProcessHow it worksFrom application to funding, and what happens on your payment date.
Short-term credit is expensive and is designed for temporary shortfalls, not long-term needs. Free impartial guidance is available from the CFPB. Not available in every state.