It’s essential to weigh the pros and cons as the rates may be higher than standard bank loans. Before requesting a $200 loan, consider the loan fee and ensure you can repay the loan on time. Your current income and having a steady income source can increase your chances of approval. However, the acceptance rate is better for those with poor credit history since payday loans connect borrowers with a network of lenders providing financial assistance. Additionally, payday loans like the title loan offer flexible repayment terms to help manage repayments better.