Cellular telephone technology became commercially available in the 1980s. Since then, it has been like a snowball rolling downhill, ever increasing in the number of users and the speed at which the technology advances. When the cellular phone was first implemented, it was enormous in size by today’s standards. This reason is two-fold; the battery had to be large, and the circuits themselves were large. The circuits of that time used in electronic devices were made from off the shelf integrated circuits (IC), meaning that usually every part of the circuit had its own package.

These packages were also very large. These large circuit boards required large amounts of power, which meant bigger batteries. This reliance on power was a major contributor to the reason these phones were so big. Through the years, technology has allowed the cellular phone to get smaller not only the size of the ICs, but also the batteries. we still have one of the original problems: we must plug the phone into the wall in order to recharge the battery. Most people accept this as something that will never change, so they might as well accept it and carry around either extra batteries with them or a charger.

Representative APR 391%. Average APR for this type of loans is 391%. Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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