 TITLE: What Is a Payday Loan and How Does It Work? CONTENT: What Are Alternative Options to a Payday Loan?\n----------------------------------------------\nIn most cases, you shouldn't need to resort to using a payday loan. Here are a few alternatives that may meet your needs and save you money.\n### Bad Credit Personal Loans\nSome personal lenders specialize in working with people with bad credit. Whether you need to cover some basic expenses, cover an emergency or consolidate debt, you can usually get the cash you need.\nAnd while your interest rates will be higher than on other personal loans, they're much lower than what you'll get with a payday loan.\n### Family or Friends\nAsking a loved one for financial assistance is never a fun conversation. But if the alternative is being driven deeper in debt, it may be worth it. Just be sure to create an official agreement and stick to it to avoid damaging your relationship.\n### Bad-Credit Credit Cards\nMost credit cards designed for people with bad credit require a security deposit, which won't help your cash shortage. But some credit card issuers offer unsecured credit cards with low credit requirements.\nRetail credit cards, for instance, are often in reach for people with bad credit. And while they typically come with low credit limits, many of them can be used outside the store.\nEven some bank-issued cards, such as the Indigo® Platinum Mastercard®, accept borrowers with low credit scores. END