Frequently Asked Questions
Line of Credit Information
How does Mobiloans work?
Mobiloans is a flexible line of credit that extends up to $1,500.
Who is my Lender?
MobiLoans, LLC, is a tribal lending entity wholly owned by the Tunica-Biloxi Tribe of Louisiana, a federally recognized Indian tribe that operates within the Tribe’s reservation.
How much money can I get?
You can obtain your available credit by logging on to your account at Mobiloans.com. The credit limit represents the credit we have agreed to extend to you under Mobiloans. The available credit is the maximum amount that may be requested as an advance at any time.
How do statements work?
Statements are issued 14 days prior to your due date. Email notifications will be issued to the account email on file. Statements will be accessible by logging into your Mobiloans Line of Credit account and selecting 'My Accounts' and clicking 'Statements'.
Do you check credit?
Yes, we obtain credit reporting information from various third party data providers.
What fees apply and how do they work?
When you take a draw on your line of credit, you are charged a Cash Advance Fee.
|Draw Amount||Cash Advance Fee|
|$500 or less||$3 for each $20 of Mobiloans Cash advanced|
|Over $500||$2 for each $20 of Mobiloans Cash advanced|
If you need more time to repay your Mobiloans Credit, a minimum charge is calculated on a tiered level based upon the unpaid balance. This fee is a Fixed Finance Charge, and will be charged to your account each billing cycle you have an unpaid balance. Noted below are the outstanding principal balance with the appropriate fixed finance charges.
|If the principal balance as of the last day of your prior Billing Cycle, less the amount of new Mobiloans Cash advances made during billing cycle, was||...your Fixed Finance Charge will be:|
What states are currently NOT serviced by Mobiloans?
Arkansas, Colorado, Connecticut, Georgia, Illinois, Louisiana, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New York, Pennsylvania, Vermont and West Virginia.
What is my minimum repayment amount and how is it calculated?
Your periodic statement will provide the minimum amount you must pay for that billing cycle. The minimum payment amount is equal to the minimum principal amount for your line plus the Cash Advance Fees and Fixed Finance Charges that apply. For draws of $400 or less, the minimum amount you are required to pay is $20 of principal plus the Cash Advance Fees and Fixed Finance Charges that apply. For draws of more than $400, the minimum principal amount you are required to repay is 5% of the original outstanding principal amount, plus applicable Cash Advance Fees and Fixed Finance Charges. Sample repayment schedules for draws of $200 and $1000 are included below.
How do I payback my Line of Credit?
Easy... if you have authorized ACH payments from your checking account (AutoPay), payments will automatically be drafted in an amount equal to the minimum payment amount. Or you can remit payments as permitted by the Terms and Conditions.
What is my Pay Frequency?
Pay Frequency means the frequency you receive your income payments which are either, weekly, bi-weekly, semi-monthly, or monthly. If your Pay Frequency is weekly, your Pay Dates are considered to be bi-weekly for determining your Billing Cycle under this Agreement. If your Pay Frequency is monthly, your Pay Dates are considered to be semi-monthly for determining your Billing Cycle under this agreement. All pay frequencies are required to make two minimum amount due payments per month.
What is AutoPay?
AutoPay is the automatic payment of your minimum payment amount. Following are example payment schedules for draws of $200 and $1000 using AutoPay.
When you take a draw of $200 Mobiloans Credit and choose to make minimum payments, the following payments would be deducted on your due date.
|Payment #1||$20 Principal + $30 Cash Advance Fee = $50|
|Payment #2||$20 Principal + $25 Fixed Finance Charge = $45|
|Payment #3||$20 Principal + $25 Fixed Finance Charge = $45|
|Payment #4||$20 Principal + $25 Fixed Finance Charge = $45|
|Payment #5||$20 Principal + $25 Fixed Finance Charge = $45|
|Payment #6||$20 Principal + $10 Fixed Finance Charge = $30|
|Payment #7||$20 Principal + $10 Fixed Finance Charge = $30|
|Payment #8||$20 Principal + $10 Fixed Finance Charge = $30|
|Payment #9||$20 Principal + $10 Fixed Finance Charge = $30|
|Payment #10||$20 Principal + $10 Fixed Finance Charge = $30|
When you take a draw of $1000 Mobiloans Credit and choose to make a minimum payments*, the following payments would be deducted on your due date.
|Payment #1||$50 Principal + $100 Cash Advance Fee = $150|
|Payment #2||$50 Principal + $105 Fixed Finance Charge = $155|
|Payment #3||$50 Principal + $95 Fixed Finance Charge = $145|
|Payment #4||$50 Principal + $95 Fixed Finance Charge = $145|
|Payment #5||$50 Principal + $95 Fixed Finance Charge = $145|
|Payment #6||$50 Principal + $95 Fixed Finance Charge = $145|
|Payment #7||$50 Principal + $95 Fixed Finance Charge = $145|
|Payment #8||$50 Principal + $95 Fixed Finance Charge = $145|
|Payment #9||$50 Principal + $95 Fixed Finance Charge = $145|
|Payment #10||$50 Principal + $65 Fixed Finance Charge = $115|
balance of your Mobiloans Credit is paid in full.
Points & Rewards Information
What is Financial U?
Financial U is an online learning center that teaches basic financial concepts and offers helpful tips for creating healthy financial habits. Access to online courses, interactive tools and other resources is free for all Mobiloans customers. You can even get rewarded for successfully graduating from Financial U! Rewards are subject to eligibility requirements. Login to Financial U to view the Reward Terms & Conditions to learn more.
What are Mobiloans Points?
The Mobiloans Points and Rewards program allows you to receive Points by participating in various activities and performing specific transactions with your Mobiloans Credit Account, such as timely and successfully making your minimum due payments. As you accumulate Points, you will earn Reward Discounts that will reduce the standard cash advance fees and fixed finance charges on your Mobiloans cash advances. Visit My Account to see your current Point balance. Click here to view the Mobiloans Points and Rewards Program Terms and Conditions.
How do I earn points?
There are a few ways you can earn points. Currently, you have the opportunities listed below for earning points. The maximum number of points that can be earned per calendar month is 2,000.
We are always thinking of new ways you can earn points with Mobiloans, so check back here often for additional earning opportunities.
|Timely and successfully making minimum due payments||500|
|When the minimum payment due has been made, successfully making additional payments of at least $50 towards your outstanding balance||250|
|Successfully paying in full the outstanding balance of your Mobiloans Credit Account||1,000|
*These point values are subject to change at MobiLoans, LLC sole discretion. MobiLoans, LLC may also issue Points for other activities on an ad hoc or promotional basis from time to time in its discretion.
What are the reward tiers and what discounts apply?
|Reward Level||Points Required||Reward Discount*|
|Silver||5,000||15% reduction of the standard Cash Advance Fee and Fixed Finance Charge|
|Gold||15,000||30% reduction of the standard Cash Advance Fee and Fixed Finance Charge|
|Platinum||25,000||50% reduction of the standard Cash Advance Fee and Fixed Finance Charge|
|Diamond||40,000||80% reduction of the standard Cash Advance Fee and Fixed Finance Charge|
*The Reward Discount thresholds are subject to change at MobiLoans, LLC sole discretion.
The Reward Discount shown in the chart above will apply to reduce the standard cash advance fee and fixed finance charges by the percentage of the Reward Discount. For example, if the standard Fixed Finance Charge to be assessed on your outstanding principal balance were $65 and you achieved 15,000 points and a 30% Reward Discount, your new fixed finance charge for the applicable balance would be $45.50. The Reward Discount will be reflected on your first Periodic Statement issued after the Reward Discount is earned and will apply for all Billing Cycles going forward.
I achieved a tier but do not see the discount in My Account or on My Rewards tab?
You may have pending points. If you log in to the My Account page and determine based on your transaction history that you should be in a different tier or are missing points, you may reach out to customer support at (877) 836-1518.
I received an email on my Mobiloans Reward information. What does it mean?
Receiving emails about Mobiloans Rewards just means you are enrolled in the program and will receive emails about your Point balance and accrual history and the Reward Level you have achieved. You may opt out of these emails any time by clicking the ‘Email Opt-out’ link within the email or managing your contact preferences by logging in to My Account or calling our customer support at (877) 836-1518.
Where can I locate my current Reward Level and see how many Points I need to get to the next Reward Level?
It’s easy... you can log in to My Account and access the ‘My Rewards’ tab. You will see your Point balance and accrual history and the Reward Level you have achieved, along the number of Points required before you achieve the next Reward Level.
How often are my Points updated? I see ‘Pending’ – what does that mean?
Your Point balance is updated based on your Points-earning activity (see chart above). For example, if you recently paid your minimum due payment in full and on time, you may notice on your most recent payment that the Points show as pending. Those Points will be fully posted to your Points balance seven days after the date you made your payment.
I missed a payment – does my discount go away? When can I begin earning points again?
No, we will never negatively change your Reward Level. After missing a payment, you will need to make three successful payments so that you can regain your eligibility to resume earning points.
What do I need to do to verify my account information?
You can email scanned documents to email@example.com or fax the information to 877-891-7862 .
Why do I not receive emails about my Line of Credit?
Due to email filters and other technology services used to curb SPAM, your internet service provider may prevent you from receiving emails regarding your account with Mobiloans.com. However, most emails received from Mobiloans.com are very important and include account updates and statements. Most of these emails are directed to a bulk/junk folder. To ensure that you receive future notices and email communication please take a moment to add our email address, firstname.lastname@example.org, to your address book or inbox 'safe list'.
To Contact Us
For Payments Mail To:
Make checks payable to MobiLoans, LLC
P.O. Box 42917
Philadelphia, PA 19101
For Customer Support:
Attn Mobiloans Customer Support:
P.O. Box 1409
Marksville, LA 71351
P: (877) 836-1518
F: (877) 891-7862
Hours of operation: Monday – Friday 7 AM to 7 PM CT
151 Melacon Drive
Marksville, LA 71351