Using APR to describe payday loan seems fine to me, because the major problem with them is when people get stuck perpetually rolling them over. Each individual loan may only last one pay period, but the debt can last a long time.<p>It&#x27;s a tough area, because they can be extremely useful, but the exact same product can be a lifesaver or an anchor depending on who&#x27;s using it. And naturally people who are most strenuously for or against tend to focus on the aspect which favors their argument.