Minimum payment trap calculator
Tribal lines of credit like Mobiloans let you pay a small "minimum" each cycle — and that is exactly how a $1,000 balance turns into $3,000 repaid. This shows how long minimum-only really takes, and what a fixed payment would save. It runs in your browser.
Why minimum payments are a trap
On a revolving tribal line of credit, the minimum is a small percentage of the balance — so as the balance drops, the minimum drops too, stretching the payoff over years while interest keeps compounding. A fixed payment stays constant, so more of every dollar hits principal and the balance falls faster. We model the minimum as a percentage of the balance each cycle (with a small floor) at your APR. If even a fixed payment can't cover the monthly interest, the calculator flags it — at that point the balance never falls, and you should look at consolidation or whether the loan is even legal where you live.
This calculator answers one question about the cost. See the full picture: what will this loan actually cost me?