• Long-term short-term loans. Payday loans are meant to be short term--a couple of weeks at most. But many lenders will be only too happy to let you stretch out your loan's payback date, since it means they can keep charging interest. Make sure you know exactly how much a late repayment will cost you before accepting this kind of arrangement.

Beating Online Payday Loan Lenders at Their Own Game: Tips

• Take advantage of no-interest payday loans for new customers, just as long as you are absolutely sure you can pay them back on time or they'll go from free to expensive. After all, biggest risk for any kind of cash advances are enormous fees if you don’t pay on time. If you can avoid paying interest, your problems are mostly solved.

• Make sure your online payday cash advance or loan lender is legit. Check to see whether lender is a member of Better Business Bureau--the site will display logo prominently if business is a member.

• Before you get your payday advance, create a quick budget for how you are going to pay loan when it is due. Take into account any additional bills or expenses that will come up between now and payback day—and between payback day and your next pay check.

• Mark payback due date on your calendar, your computer at home, your computer at work, your cellphone, your refrigerator magnets--you get idea. Online payday loans only become risky and expensive when you don't pay on time.

• Compare lenders' annual interest rates and fees. Make sure you know exact cost of repaying loan so you can make an accurate comparison.

You have to do your research if you want to get a good payday loan, but thanks to internet, that's one part of payday loans that's actually easy.