Child tax benefits in Canada can pay for the barest of necessities, but they won’t cover much else. If your children want to enjoy recreational activities beneficial to their growth, your child tax benefits alone won’t suffice.
But banks only care about the well-being of their bottom line, not your children—they would never consider loans for bad credit applicants collecting low incomes.
Magical Credit specializes in loans for bad credit applicants collecting lower incomes. Even if your primary income comes from your child tax benefits, you may be eligible for a Magical Credit loan!
If you’re unsure that you can keep up with our Child Tax Benefit loan repayment terms, use our short-term personal loan calculator!
Yes—since Magical Credit weighs candidates on their overall report of credit instead of their credit score, our loans are ideal for bad credit applicants.
Yes—as long as you’re receiving a monthly income (traditional or non-traditional) of $600, direct deposited into your bank account, you may be eligible for a child care loan.
No—we do offer loans up to $10,000, which can cover part of your consumer debts.
No—our interest rate is 3.9% a month for all 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!
Earn $50 in seconds!
Participate in our referral program for cash rewards.