Magical Credit Blog

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Top Money Management Apps in 2024

by Vinicius Rocha

Are you struggling to keep track of your financials? Do you often find yourself applying for frequent payday or personal loans to bridge your income and expenses? Then, this short and helpful guide is for you.

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How to Check Your Credit Score for Free in Canada

by Vinicius Rocha

Keeping an eye on your credit score is crucial for managing your financial health, negotiating better interest rates, and ensuring the accuracy of your credit information. In Canada, you can obtain your credit score for free from various sources. This guide provides detailed information on how to check your credit score without any cost, including through credit bureaus and online banking services.

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What is a Payday Loan Cooling-Off Period?

by Vinicius Rocha

In the realm of personal finance, payday loans stand as a common solution for people seeking immediate financial relief, often bridging the gap between paychecks. However, within the framework of payday loan agreements lies a crucial element known as the "cooling-off period."

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How to Get a Loan if You Just Started a New Job

by Vinicius Rocha

Getting a loan right after you start a new job can feel intimidating - whether you need it for a car, a house, or something else big, it might seem like a tough hurdle. However, if you plan things out and know what you're doing, getting the loan you need is completely possible.

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The Pros and Cons of Payday Loans for Emergency Situations

by Vinicius Rocha

Unexpected costs can pop up anytime. Whether it's a surprise dentist bill, fixing your car, or another sudden problem, many people need quick money to handle emergencies. When these situations happen, payday loans are often seen as a solution. However, like any money tool, they have their own pros and cons.

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Maximizing Financial Freedom: Creating Multiple Streams of Income

by Vinicius Rocha

In today's fast-paced world, financial stability is more than just a goal; it's a necessity. With the ever-changing economic landscape and the uncertainties that come with it, relying solely on a single source of income is becoming increasingly dangerous. Instead, individuals are turning towards the strategy of creating multiple streams of income to safeguard their financial future and achieve greater freedom.

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Disclosures:

Magical Installment Loans: We offer installment loans in the amount of $1,500- $20,000 that have a 12-60 month term with an APR 19.99% min - 46.8% max. On $1,500 borrowed for a 1 year term at 3.9% per month, the total cost of borrowing including a $194 fee is $896.00. The total amount to be paid back with interest and fee is $2,396.00. AB License #349796 and BC License #83626

NOTE: Our installment loans are open, so 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.

Magical Cash Loans - Ontario, British Columbia, Northwest Territories, Nunavut, and Yukon Residents only: We offer Magical Cash Loans in the amount of $100-$1,500.00. The cost of borrowing is $15.00 per $100.00 for each $100.00 borrowed. On a $1,000.00 loan for 14 days, the cost of borrowing is $150.00. The total to payback is $1,150.00 which is an annual percentage rate of 391.07%. ON License #4741412. BC License#85919.

The Loan must be paid in full by the end of term, no extensions or exceptions, no automatic renewals. Failure to pay your debt on time will impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureaus.