Magical Credit Blog

The ability to obtain a cash loan with a credit score of 500 can be an important consideration for many individuals, and various factors can influence this decision, making it necessary for borrowers to understand their options and how best to approach the process.

When considering whether or not to approve someone for a loan, lenders will often have certain factors they consider regarding potential borrowers, including analyzing their credit scores and assessing their income levels. Therefore, improving your credit score is an important step toward obtaining potential approval from lenders. Luckily there are a number of strategies you can implement in order to increase your chances of qualifying for a loan.

Taking out a loan can be an intimidating experience. Understanding common terms used when taking out loans, however, does not have to be such a daunting task. The language associated with taking out a loan often seems like navigating uncharted territory, but it doesn't have to be such a mystery. Knowing what some key terms mean can help you determine which type of loan works best for you, and understand exactly what you are getting into before signing on any dotted lines.

In the blink of an eye, financial emergencies can happen, and they may require quick cash in order to be solved with little stress and minimal hassle. However, generating instant cash can be a difficult task - it requires careful consideration of the various options available to you, and an understanding of their potential implications.

The Canadian government has developed specific national student loan services that provide and administer grants and loans to help students fund their post-secondary education. According to Statistics Canada, approximately 69% of Canadians enrolled in post-secondary institutions today use student loans. As of 2022, the total student debt outstanding in Canada was estimated to be close to $18 billion.

With inflation rates at a nearly 40-year high, saving money might seem like a distant proposition. While it certainly does not come without sacrifices and compromises, there are steps you can actively take to improve your bank balance, even in trying times.In this article, we will go over some of the ways that you can monitor your spending more closely, and eliminate wasted or avoidable expenditures.

Whether you are new to Canada or have lived here for a while, a Canadian bank account is still one the most important aspects of your personal finance journey. While there are several financial institutions you can choose from for your banking needs, there are ultimately two main categories of bank accounts that you can open in your name: (i) a chequing account, and (ii) a savings account.