Trap Detector
A $15 fee on $100 for 14 days is 391% APR — about 13× a credit card.
Reveal the predatory multiplier behind payday loans, pawn redemptions, and cash advances.
Payday and pawn products advertise the fee, not the rate — by design. Converting to APR reveals the real cost.
Part of: Saving & Spending Calculators
Quick answer
Reveal the predatory multiplier behind payday loans, pawn redemptions, and cash advances.
Key points
- ▸ APR = (total cost ÷ principal) × (365 ÷ days) × 100.
- ▸ Bands: ≤30% fair, ≤80% high, ≤200% predatory, >200% extortionate.
- ▸ Credit-card APR baseline ≈ 29%.
- ▸ Short loans magnify fees — a small fee over 7 days is a worse APR than the same fee over 30.
Examples
- $100 payday, $15 fee, 14 daysAPR 391%. Cost per day $1.07. 13.5× credit-card baseline.
- $300 pawn, $60 fee, 30 daysAPR 243%. Cost per day $2.00. 8.4× credit-card baseline.
When to use which tool
- Trap DetectorMain tool — heatmap + debt-trap depth.Compute the true APR of a payday loan, pawn redemption, or cash advance — with a predatory heatmap from fair to extortionate.
- Default OptimizerIf skipping a bill is cheaper than taking the loan.Prioritize essential bills first when there is not enough cash to pay everything.
- Liquid ValueIf selling an asset is cheaper than borrowing.Should you sell an asset to avoid a late fee? Replacement penalty vs fee avoided — equity loss meter.
Related
- Trap DetectorCompute the true APR of a payday loan, pawn redemption, or cash advance — with a predatory heatmap from fair to extortionate.
- Default OptimizerPrioritize essential bills first when there is not enough cash to pay everything.
- Liquid ValueShould you sell an asset to avoid a late fee? Replacement penalty vs fee avoided — equity loss meter.
- Bill TriageWhen you can't pay everything, which bill first? Weighted ranking by service-cutoff risk and late-fee pain.
Frequently asked questions
› What if I can't qualify for a credit card?
The tool still shows the honest cost. Use it to negotiate down or explore employer advances and community lenders.
› Is 391% APR legal? Trust & accuracy
Varies by state. In many, yes. That doesn't make it a good deal.
› How should I use this guide with a Kefiw tool? How-to
Use the guide as the plan and the linked Kefiw tool as the check. Read the steps first, try the move manually, then use the tool to compare outputs, catch edge cases, and decide whether the result actually fits your task.
› What mistake do tool guides help avoid? Troubleshooting
Tool guides help avoid using a utility mechanically without understanding what you are trying to accomplish. Most word, writing, and text utilities are fast, but speed can hide context mistakes. Know whether you are solving a puzzle, cleaning copy, drafting a line, or checking a rule.
› Can a tool guide help me learn the skill? How-to
A tool guide can help you learn if you pause before accepting the output and ask why it worked. Compare your first guess with the tool result, look for the rule or pattern, and repeat that review. Passive copying solves one task; active review builds the skill.