Banks and payday loan companies can be very stingy with their funds. Fortunately, there are alternatives for bad credit personal loans in Canada. At Magical Credit, we look beyond your credit history to determine if you qualify for a cash loan. Do you have poor credit or a non-traditional source of income?
That's okay. Magical Credit provides bad credit loans to low-income households. We accept government subsidies such as unemployment insurance, workers comp, maternity leave, child tax credit and pensions, among others. We're here for you even if Canada's banks and payday loan companies don't fit your needs.
That's okay. Magical Credit provides bad credit loans to low-income households. We accept government subsidies such as unemployment insurance, workers comp, maternity leave, child tax credit and pensions, among others. We're here for you even if Canada's banks and payday loan companies don't fit your needs.
Services
Our Story
Report
That was Mark and Natalie's mantra when they opened Magical Credit in 2014 as a private lender specializing in poor credit and low-income loans. We put our faith in those whom traditional lenders consider being high-risk applicants because we don't believe that poor credit history is a fair way to judge the contents of a person's character.
Our Team
Report
Our online system is changing the way people apply for loans, making it quicker and easier than ever to get approved from the comfort of your own home. But it also means you may not ever get the chance to meet the people who make Magical Credit the industry leader it's become. Allow us to introduce ourselves.
How it Works
Report
At Magical Credit, we don't believe in making our clients jump through hoops to qualify for a loan. We approve our clients based on their fixed monthly income - that's it! We specialize in offering bad credit personal loans, and loans to low-income earners, including people on government subsidies and pensions.
Who Qualifies
Report
To better serve customers, Magical Credit offers cash loans to people who are employed, in addition to providing cash loans to people who currently receive government subsidies. To qualify for a bad credit personal loan from Magical Credit, you must be employed for a period of 6 months. We lend between $1,500 and $20,000 depending on your current income.
Short Term Loans
Report
Magical Credit has a very straightforward online loan application to streamline the process of qualifying for a loan. Unlike banks, which can have a laundry list of requirements for a short term loan, Magical Credit has 3 key requirements, across all provinces. To calculate your monthly loan payment schedule, try our short-term, personal loan calculator.
Reviews
Be the first to review Magical Credit.
Write a Review
