Get A Bad Credit Loan In 5 Minutes or Less!

Apply Now

Get A Loan with Bad Credit in Newfoundland

Is bad credit preventing you from getting a bank loan? Are you sick and tired of stingy financial institutions and predatory payday loan companies?

Magical Credit specializes in personal loans for Newfoundlanders with poor credit. Unlike banks, there are no lines, no tellers, and no headaches— only straightforward service. As long as you’re receiving at least $600.00 monthly via direct deposit, you’ll be considered for a bad credit loan.

So what are you waiting for? Apply for a bad credit loan today in as little as 5 minutes!

Need a loan in Newfoundland, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our personal loan calculator!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

Why Get a Bad Credit Loan in Newfoundland?

  • Rent & BillsHeating and electricity are necessities, especially if you live in Newfoundland where the sea air is crisp and fresh. Why pay late fees or service charges when you can use a personal loan from Magical Credit to cover unpaid bills?
  • Dental – Having poor oral hygiene is detrimental to work relationships, and personal ones, too. From veneers to root canals, a bad credit loan can cover all your dental expenses.
  • Pet CareFor all the unconditional love our pets give us, the least we can do is ensure they are happy and healthy. Even when money is tight, our pets deserve good food, bedding, and care. A bad credit loan can help cover the cost of pet food and healthcare.
  • Debt ConsolidationYou live a busy life in St. John’s, from working long hours to taking care of your family. You don’t have time for sleep, let alone managing all your tiny bills. Fortunately, a bad credit loan can help consolidate your debt into one, easy-to-track payment!

Bad Credit Loan FAQs

I have a credit score below 500, can I still apply for a loan?

Yes, we specialize in personal loans for Newfoundlanders with bad credit. We don’t determine your eligibility based solely on your credit score. If you receive at least $600 monthly via direct deposit, you’ll be considered for a bad credit loan.

I’ve recently lost my job, can I still apply for a loan?

Yes, we offer bad credit loans to people with diverse sources of income. Magical Credit accepts government subsidies such as EI, as well as income from pensions or maternity benefits – as long as you receive a monthly direct deposit of $600.00 or more.

What is the minimum amount I can borrow?

You can borrow between $500 and $10,000.

I'm turning 18 years old in four months, can I be eligible for a bad credit loan?

Sorry, you must be 18 years or older at the time you apply for a bad credit loan.


Need an emergency loan, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our short-term, personal loan calculator!

Our loans are considered short-term loans and have up to a 12-24 month term with an interest rate of 3.9% per month.
Loan Example
Term
1 Year
APR
56.50%
Amount
$2,000.00
Fees
$194.00
Interest Rate (46.8%)
$936.00
Total Cost of Borrowing
$1,130.00
Total Due End of Term
$3,130.00
NOTE: You can pay off your loan at any time with no penalty.
You will only pay interest up to the date you borrow it.
Terms and Conditions: (APR 23% min - 59.7% max) Loan amortization is between 12-24 months. 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 with impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureau.