Borrowers should only borrow around they can afford to repay, and will not rely on payday advances as a regular method to obtain credit. The rates on payday loans are typically very high, with APRs (annual percentage rates) including 300% to 500% or even more. Payday loans might be more expensive for borrowers that have no other method to obtain income, as lenders may view them like a higher risk for default. Payday loans could be more expensive for borrowers that have a history of bounced checks or other financial problems, as lenders may view them as being a higher risk for default.