Read the True Cost of Emergency Credit

Emergency loans — payday advances, title loans, and fast personal loans — quote an APR, but the number that matters is the total cost to borrow: interest plus origination fees and flat charges, all expressed against the amount you actually receive. At a 36% APR with a 4% origination fee, borrowing $1,000 for a year costs roughly a quarter of the loan on top of the principal. Some lenders charge even more: a typical two-week payday loan can carry an APR above 300%, which this calculator caps out of range for a reason. Before you sign, compare the all-in cost against alternatives — a credit union personal loan, a 0% credit card offer, or an advance from your employer usually costs far less.