The point of a payday loan is they DON'T report to credit bureaus... I'm sorry but this is complete malarky. Payday loans are terrible terrible financial instru

The point of a payday loan is they DON'T report to credit bureaus... I'm sorry but this is complete malarky. Payday loans are terrible terrible financial instruments and should never be used as credit... but I have used a payday loan in the past for an emergency when my wife needed to extend her job hunt by 3 weeks and we had credit that was about to go to collections and my guaranteed annual bonus was a month out. There are some cases where a payday loan can be used effectively to PREVENT damage to your credit history.