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Get Approved For A Healthcare Or Medical Loan In Alberta


Magical Credit’s Medical Credit

We Albertans know what living in Alberta entails.

In the summer, it means hikes, kayaking or canoeing, and days in the parks. In the winter, it’s making snowmen, snowball fights, tobogganing, and ice hockey on the pond.

But life isn’t always as predictable as you want it to be. A day of hiking in the Rockies could lead to a strained muscle or a rolled ankle. A game of outdoor ice hockey can result in a puck to the face, crashing into another player, or a break of a bone or joint.

The unpredictable nature of an injury can catch you unprepared, without the financial means to go to the doctor or therapist for necessary medication.

We offer medical credit to help those who find themselves in medical debt, unable to keep up with the medical billing to properly nurture themselves back to health.

Fill out our online application for a medical loan in Alberta today! It only takes around 5 minutes, and it may be your first step back to medical financial help, and a full recovery.

Need a medical loan in Alberta, 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!

I want to borrow:


Why You Might Need A Medical Debt Consolidation In Alberta:

  • Dental visits: While visits to the dentist are important to overall health and hygiene, they are very expensive. Magical Credit’s medical loans can help pay bills like these, so you don’t find yourself in medical debt.
  • Winter driving: There are few places in the habitable world where blizzards, snow, and ice are as abundant as our beloved province. Road conditions Alberta inevitably means traffic accidents, and sometimes, injuries.
  • Therapy:
    • Most sports injuries require some kind of continuing physical therapy.
    • 10% of Canadians suffer from some form of mental illness, often needing psychiatric help.
    • 8 out of 10 Canadians will suffer from some kind of back pain in their lives, requiring a chiropractor.

    Therapy is expensive, but it’s also crucial for your health – our medical loans can help.

  • Prescription medication: While our public healthcare provides medical reimbursements for doctor and emergency medical billings, it doesn’t provide prescription assistance. A medical loan provides the medical financial assistance to get you the medicine you need to recover, so you don’t always have to settle for the cheapest prescription medications.

FAQ’s For Medical Loans:

How do I go about getting a medical loan?

Simply fill out our online application, and in just 5 minutes, you’ll be on your way.

I need help paying bills, but I have bad credit. Should I apply?

Absolutely. We offer medical credit to low income households, and people with bad credit.

Can I take out a loan for over-the-counter medication, or is it just for prescription assistance?

You can take out a loan for any kind of medical assistance you see fit. Whether it’s for brand name prescription medicine, generic cheap prescriptions, or over-the counter- medicine, we can offer you a loan with a repayment plan that best suits your needs.

What is the likelihood that I will be approved for medical financial help?

It’s difficult to say, as we review each application on an individual basis.

Our minimum requirement is that you have a monthly salary of at least $600 (between an employer, and government reimbursements) that is directly deposited into your bank account. So unless you have a history of unpaid debts, and/or loans currently in collection, you’re in good shape. But again, there’s no way to say for sure until we’ve seen your application.

How long does it take for Magical Credit to get back to me to tell me if I’ve been approved or denied a medical loan?

A Magical Credit representative will get back to you within 24 business hours.

Once I’ve been approved, how long does it take until I receive medical financial help?

We try to get the money to you ASAP, which is usually within a business day.

Is Magical Credit affiliated with any other bank or financial institution?

No. We are a private loan company for low-income houses, or people with bad credit.

What are your interest rates for medical loans?

The interest rate for our medical loan is 3.9% monthly.

What pieces of ID can I use for my application?
  • Valid Canadian Driver’s License
  • Valid Canadian passport
  • Certificate of Canadian Citizenship
  • Certificate of Indian Status
  • Canadian Permanent Residency Card
  • Old age security Card
  • Photo Health Card and Birth Certificate or Social Insurance Card
  • BYID Card (LCBO) and Birth Certificate or Social Insurance Card
I’m in medical debt, but I don’t have a Canadian bank account. Can I still be approved for a loan?

No. In order to be approved, you need an income of $600 per month that is directly deposited into your bank account. If you have no bank account, you won’t be approved.

If I find out after a medical loan has been transferred that the government offers medical reimbursements for what I need, is there any way to reverse the loan?

No. It doesn’t matter what medical reimbursements the government offers – once the loan has been approved and transferred, the interest rate is immediately applied.

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.

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