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Use Your Child Tax Benefits And Apply For A Bad Credit Loan In PEI – It Only Takes 5 Minutes!


Take Out A Loan In PEI By Leveraging Your Child Tax Benefits!

Child tax benefits in Canada barely cover the cost for basic necessities.

But banks could care less—they would never consider loans for bad credit applicants collecting low incomes.

Conversely, Magical Credit specializes in loans for bad credit applicants with lower incomes. And you can still be eligible if your primary income is from a non-traditional source, such as a child tax benefit!

I want to borrow:


Why Get A Child Tax Benefit Loan In PEI?

  • Dental Care – Even the best-behaved child forgets to brush, but the dentist is expensive. Still, your child deserves the best health care, including oral healthcare. Take out our child care loans, and cover dental costs for your child.
  • Car Repairs – How can you get to Friday’s hockey game, or Wednesday’s dance recital, with a Mazda that’s turned into a 2000-pound pet rock? Take out a child care loan and get your car running to keep your family running.
  • Childcare/Babysitting – Working nights? A child care loan will provide the funds for expensive childcare. If you have bad credit, Magical Credit offers bad credit loans in PEI!
  • Debt Consolidation – A list of debts would make it difficult for Superman himself to take care of children. Leverage your child tax credit into a debt consolidation loan in PEI, and focus on being a super-parent instead of super-in-debt.

PEI Child Tax Benefit Loans FAQs

Can I be eligible for a child tax benefit loan if I have bad credit?

Yes—Magical Credit weighs candidates on their overall report of credit rather than their credit score.

Will I be accepted for a child care loan if I’m out of work?

Potentially—provided you’re receiving a monthly income (traditional or non-traditional) of $600, direct deposited into your bank account, you may be eligible.

Can I apply for a $50,000 loan?

No—we lend between $500 and $10,000.

What’s the interest rate on child care loans?

3.9% a month—the same as the rest of our loans!

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!

Loan Example

1 Year
Interest Rate (46.8%)
Total Cost of Borrowing
Total Due End of Term
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.

Earn $50 in seconds!

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