How often should you take a payday loan?

Try not to take one! Well, that is the ideal situation. But you may not be able to avoid a payday loan. Not if you have a bad credit score, or none at all, and your bank refuses to lend to you despite you having a high-paying job. There are situations in life where you need cash urgently. Payday loan lenders target that market. They pay fast, but they charge high. Payday loans are no for everyday use. Use them if you must, but use them sparingly! Read the FTC alert on payday loans here before you opt for a cash advance.