Apply for a Child Tax Benefit Loan in New Brunswick - it Only Takes 5 Minutes!

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Get A Loan in New Brunswick for Child Tax Benefits

Finding the right lender can feel impossible. Banks have stingy policies, and any discrepancies in your credit will lead to a quick rejection. Payday loan companies will only keep you in debt with their over-the-top interest rates.

Magical Credit is a high-risk lender specializing in loans for bad credit applicants. We offer fixed interest rates, and you’ll be considered even if you’re collecting a non-traditional source of income, including child tax benefits.

Make sure you can keep up with the repayment terms of our online loans for child tax by calculating your monthly loan payment schedule with our short-term personal loan calculator!

I want to borrow:

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

Why Would You Need a Child Tax Benefit Loan in New Brunswick?

  • Dental Care – You try feeding your child fresh lobster, and they choose to eat candy. Pay for their fillings by leveraging your child tax benefits into a Magical Credit loan!
  • Automotive Maintenance – You’re up next for the pee-wee hockey carpool. Keep your status as “Most Valuable Parent” by using a child tax loan to pay for tune-ups that’ll keep your car running, and the team on time for puck drop!
  • Childcare/Babysitting – A child care loan is perfect for when you’re working nights and you can’t afford a babysitter. Don’t sweat any bad credit, because Magical Credit offers bad credit loans in New Brunswick!
  • Debt Consolidation – Having to keep up with your children as well as a myriad of consumer debts is driving you crazy! Leverage your child tax credit into a bad credit loan for debt consolidation in New Brunswick.

New Brunswick Child Tax Benefit Loans FAQs

Do you offer loans on child tax benefits to bad credit applicants?

Yes—Magical Credit is a high-risk lender meaning we don’t weigh candidates solely on their credit score, but their overall report of credit.

Can I still be eligible for a child care loan if I’m unemployed?

Yes—Magical Credit offers child care loans to candidates collecting traditional and non-traditional incomes. We’ll accept government subsidies (e.g., EI and CPP), as well as income from pensions or maternity benefits as long as they’re direct deposited into your bank account on a monthly basis.

Can I borrow $20,000?

No—we offer loans between $500 and $10,000.

What do I need to apply?

To apply, you need the following:

  • Be 18 years or older
  • Valid chequing account
  • Proof of income
  • Valid ID
  • SIN
What is the minimum monthly income required for loan consideration?

Collecting $600.00 a month via direct deposit is the minimum income required to be considered for a Magical 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.