The clergymen have been spearheading a campaign in the House of Lords to have payday loans banned before 9pm, because children are using "pester power" to pressure their parents to take out the high interest credit in order to buy them things.
They also say it normalises taking out payday loans to them when they get older.
The campaign's included parents, The Children's Society charity and the Money Saving Expert website.
Speaking on the issue, thee Bishop of Birmingham, Rt Revd David Urquhart, told the House of Lords: "More than half of children aged 10 to 17 are seeing payday loan advertisements 'often' or 'all the time'.
"These teenagers are significantly more likely than their counterparts to say that they would consider taking out a payday loan in the future.
"... recent changes to the curriculum... made financial education a statutory requirement.
"Now we need to make sure that that work is not being undone when children go home from school and sit in front of the television."
Amy Gibbs, the Head of Campaigns at the Children's Society, told Premier: "We are really grateful for the support of the Bishops of Truro, Norwich and Birmingham. They've spearheaded this campaign in the House of Lords. We've worked really closely with them.
"Children themselves say these adverts are 'fun', 'tempting' or 'exciting'.
"This is hugely worrying.
"Children should be learning about money management and debt from their school or family, not from irresponsible payday loan ads which make these high cost high risk loans seem like a normal way of managing money.
"We've had thousands of supporters emailing Lords, not to mention the 75% of parents who want to see this ban."
The UK's advertising regulator, the Broadcast Committee of Advertising Practice, will produce a report in the New Year on payday loan advertising.