The next element of understanding cash advance borrowersвЂ™ situations is always to recognize that the options open to borrowers could be higher priced than pay day loans. 125 the essential extreme substitute for pay day loans is that loan shark, 126 but much less extreme options such as for instance using a charge card over its restriction or bouncing a check additionally might be higher priced when compared to a loan that is payday. 127 Elliehausen unearthed that pawn shops and title that is automobile had been generally speaking perhaps money mutual loans online perhaps perhaps not considered viable substitutes for a quick payday loan, 128 and are usually often susceptible to greater rate of interest caps than payday loan providers. 129 bank cards will also be frequently unavailable. 130 Regardless of if an online payday loan debtor has a charge card, there is certainly a high chance that he / she will go beyond the borrowing limit in the event that card can be used to meet obligations which could otherwise accept a cash advance. 131 The Federal Reserve discovered the overage costs connected with bank cards may be notably greater than taking down a quick payday loan.