Get a Loan on your Child Tax Benefit

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Alberta Child Tax Credit Loans

Raising a child in Alberta costs a lot of money. Their tastes are expensive right from the start, with expenses growing as fast as they do.

First it’s a fancy liquid-only diet, then they move on to tiny individual glass jars of gourmet mush, and by the end they’re demanding raw fish and bison burgers! It costs $250,000 to raise a child to 18, so it’s not surprising at all when families need to borrow money.

Unfortunately, borrowing is often easier said than done. Banks have rigid lending policies and will reject you for a number of reasons. Payday loan companies may lend to you, but you’ll have to pay their unreasonably high interest rates.

Thankfully, there’s a better option. Magical Credit is a flexible poor credit lender that provides child care/child tax benefit loans in Alberta. You can leverage your monthly child tax benefits for a loan as large as $10,000!

Apply for a child tax credit loan online in 5 minutes or less!

I want to borrow:

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

Why Get a Child Tax Benefit Loan in Alberta?

  • Dentist – Dental emergencies strike at all ages and tooth problems are hereditary. A quick Magical Credit loan can get you and your kids to the dentist to treat your family’s notorious hard-to-reach molars.
  • Vacation – You only have so many chances to take family vacations before your kids become too cool to spend time with you. Get a Magical Credit loan and go to Disney World before it’s too late!
  • Pets/Pet Care – Pets are great. They fill the house with love and energy, and they’re a great way to teach your kids responsibility. But they’re expensive – you’re pretty much raising a hairy child.
  • Appliance Repair & Replacement – Your kid’s going to break an appliance. That’s a fact. But you’re an adult, so you have to keep calm and carry on (by getting a Magical Credit loan).

Child Tax Benefit Loans FAQs

Do you offer child tax benefit loans to people with poor credit?

Yes, Magical Credit is a poor credit lender. We don’t make lending decisions solely off of credit score. If you receive at least $600 a month via direct deposit, you will be considered for a child tax benefit loan in Alberta.

I’m not working at the moment. Can I still get a loan on my child tax benefit?

You do not need to be employed to qualify for an online loan for child tax benefits. Aside from borrowing off of child tax benefits, you can also borrow off of EI and CPP, as well as income from pensions or maternity benefits.

How much can I borrow?

You can apply for a loan from anywhere between $500 and $10,000.

What do I need to apply?

In order to apply, you need the following:

  • Be 18 years or older
  • Valid chequing account
  • Proof of income
  • Valid ID
  • SIN
How much income do I need to apply for a child tax benefit loan?

You must receive at least $600 a month to qualify for a Magical Credit child tax benefit 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.