Payday loans are an expensive form of credit and you should compare your options as well as research any rates, fees and conditions before applying. While payday loans are heavily regulated by ASIC, it's important to remember that they are costly and you shouldn't apply if there are alternatives available to you. Before you apply, see if you may be eligible and if the other credit types suit your needs. It's also a good idea to calculate costs to see if any of the alternatives are cheaper than a payday loan.