Magical Credit Blog

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Newcomer to Canada Loans

Introduction Newcomer loans are defined as debt that is extended to people who have arrived into the country not too long ago as landed immigrants. Read More

How to Qualify for a Personal Loan

by Natalie Bell

Applying for an unsecured personal loan can be a complicated process - especially if you have less than perfect credit. Our simple guide walks you through the process of qualifying for a personal loan step by step.

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Savings Guide: How to Save Money in Canada

by Kevin Silver

Whether you're just old enough to begin understanding the financial world and its complexities, or you’re at the age where you truly appreciate the importance and responsibility of making wise monetary decisions, one word that has been there by your side through thick and thin is savings. You’ve either had it force-fed to you for as long as you can remember, or you are currently force-feeding it to someone else, but regardless of your position, what exactly are savings, why is it important and how can we achieve it?

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Tips on How to Improve your Credit Score

by Kevin Silver

Do you have a bad credit score? Don’t know how to start fixing it? The concept of credit scores can be overwhelming to say the least. Not to worry, as it’s not as complicated as it first seems. We’ve published a two-part post on the Smarter Loans website to help get you out of a tough situation. 

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Our loans are considered short-term loans and have up to a 6-60 month term with an interest rate ranging from 3.4%-20% per month.

Example: $1,500 borrowed for one year at 3.4% per month. Monthly payments are $199.05. Total payback with interest and fee of $194.00 is $2,388.54.

NOTE: You can pay off your loan at any time with no penalty. You will only pay interest up to the date you pay it off.