Wonga is a rather poor example. They charge interest rates > 4000%. At that APR you can hand out loans to fourth graders and still make bank. edit: first attem

Wonga is a rather poor example. They charge interest rates > 4000%. At that APR you can hand out loans to fourth graders and still make bank. edit: first attempt at finding a payday lender with cheaper rates was a success: 600% http://www.paydayone.com/texas-loan-cost-and-terms.aspx http://www.paydayone.com/texas-loan-cost-and-terms.aspx