A payday loan, as with all kinds of credit, will be listed on your credit report while you are making payments, and once it is paid off in full and the account is closed, then it will be listed as such. Lenders you apply to borrow from in the future will be able to see the record of the loan. If you miss any payments, make them late, commit to an alternative repayment plan with your lender or default on the account, these activities will also be reflected on your credit report and can stay listed for up to six years.