Though pay day loans might help build your credit rating in certain circumstances (and incrementally at the best), they don’t have nearly since much effect as installment loans for bad credit. Plus, many payday loan providers don’t report on-time re re payments towards the credit reporting agencies anyway.
Also about it: if you have to repay an entire loan in two weeks or less, you’re not going to have the same kind of payment history as you would get with an installment loan if they do, just think. Installment loan re re payments are a lot simpler to manage, along with sufficient time to cover them down over regular increments. Make those payments on time, and you’ll have actually a slew of good markings in your credit score that may build upon on their own.