The Canadian government’s child tax benefits aren’t enough to make ends meet, and families commonly need to borrow money to pay for basic necessities.
But banks are uncaring—it’s all about the bottom line, and they aren’t interested in providing loans for bad credit applicants collecting low incomes. And payday loan companies are only interested in taking advantage of vulnerable people, and keeping them in debt.
Magical Credit is a high-risk lender specializing in loans for bad credit applicants. We offer reasonable interest rates, and you can even be approved if your main source of income is non-traditional, including child tax benefits!
Yes—as a high-risk lender, Magical Credit doesn’t solely weigh applicants based on their credit scores, but instead their overall report of credit.
Yes—as long as you’re collecting a monthly income (traditional or non-traditional) of $600, direct deposited into your bank account, you may be eligible.
No—we only offer loans between $500 and $10,000.
Our rate is a fixed 3.9% a month.
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!
Earn $50 in seconds!
Participate in our referral program for cash rewards.