If your credit falls within the bad credit range, it’s important to understand the pros and cons of different loan options available to you. Payday loans: Payday lenders typically do not consider your credit score when determining loan eligibility. These loans are designed for short-term needs and are usually for amounts under $500. However, payday loans come with high fees, and the Consumer Financial Protection Bureau has found that the fees for a two-week payday loan can result in an APR of nearly 400%. Payday loans are banned in some states, while others have imposed limits on loan sizes and fees. Car title loans: Car title loans are another short-term…