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
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 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.
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.
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.
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 (10)
Alyssa Souliere
Jan 22, 2022
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Amazing company! Felt like I was drowning in bills and worried, applied to other places and got denied so many times. I came across magical in a google search and the forms were easy to fill out! They take any source of income and credit. They were fast to get back and communicate amazing! Dornett at Ext 102 was so amazing and friendly! She explained everything and answered any questions you had.
100% recommend!
100% recommend!
Christabella Garcia
Jan 20, 2022
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I have recieved a couple loans from them. They do not bother me. They remind me lightly in emails when the payment is coming up. They allow you to borrow more as you repay. They report your payments to credit bureau so it helps to rebuild credit as well. They help you fast. It did not take weeks to get the loan. It is a simple application, reference, and deposit system. I like them a lot.
Michelle Moore
Jan 19, 2022
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Henry Amaze
Jan 08, 2022
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June Walker
Jan 03, 2022
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Positive: Professionalism, Responsiveness
I had a hard time getting a loan with other lenders, but thanks to Magical Credit. They gave me a chance and now I can build my credit. Awesome place to deal with, would highly recommend them to anyone that needs a quick and easy loan, they will be the only one from now on that will get my business.
I had a hard time getting a loan with other lenders, but thanks to Magical Credit. They gave me a chance and now I can build my credit. Awesome place to deal with, would highly recommend them to anyone that needs a quick and easy loan, they will be the only one from now on that will get my business.
Daniel MacKay
Jan 03, 2022
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Jase Vickers
Dec 13, 2021
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I was referred to this company. This company has not only been friendly, but has worked with me through every obstacle I was dealing with and I am grateful. The staff do not pressure you, they work with you. Here is what I also found important, they listen. I am privileged to have this opportunity and thank you for making MY experience Magical.
Ardalan Shafiei
Dec 11, 2021
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Positive: Professionalism, Quality, Responsiveness, Value
Great service and very helpful. I don't have much credit history, but Magical Credit approved me for a loan when other companies turned me down. They were very easy to deal with and the loan was deposited into my account the same day. Highly recommend.
Great service and very helpful. I don't have much credit history, but Magical Credit approved me for a loan when other companies turned me down. They were very easy to deal with and the loan was deposited into my account the same day. Highly recommend.
Annie M.
Dec 01, 2021
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Positive: Value
I've now done two loans with them. They are quick, and efficient. The customer service is great and I've never experienced such a quick and easy, with same day deposits if you do your part in making sure everything is uploaded. The interest rates are great considering and over all I'm just a happy camper.
Thanks.
I've now done two loans with them. They are quick, and efficient. The customer service is great and I've never experienced such a quick and easy, with same day deposits if you do your part in making sure everything is uploaded. The interest rates are great considering and over all I'm just a happy camper.
Thanks.
April Mansley
Dec 01, 2021
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Magical credit is a God send. Absolutely amazing customer service. Loan applications are handled quickly, efficiently and with nothing but the most professional quality care. I would recommend this company to anyone in need of a miracle fast. Most certainly impressed with all aspects of this company and their hard working respectable employees.
