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Medical Credit & Medical Loans in British Columbia

As Vancouverites, we can sometimes be a little snobby about our city. We like to smirk as Torontonians talk about how amazing their city is, because no matter what they say, we know ours is better.

Where else in Canada can you find an even remotely comparable caliber ski destination as Whistler? Where else can you take in a view of equivalent beauty as the view from the top of the Grouse Grind? Where else can you bike a seawall that’s located in downtown metropolis?

But these luxuries come at a cost. All the hikes, skiing, and biking means more wear and tear on your body. And the last thing you should be doing is letting your finances get in the way of treatment for an injury, or muscle and joint pains.

Magical Credit provides medical bill help through our medical loans for bad credit. Our healthcare loans are designed for injuries, therapy, assisted living, surgery, dental visits, or any other medical treatments.

Just fill out our online application, and in 5 minutes, you could be approved and on your way to recovery.

Need a medical 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!

I want to borrow:

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

Why would I need medical financial assistance?

  • Because we live in ‘Beautiful British Columbia’: Even the low impact joys of Vancouver, such as a stroll in Granville Island, involve lots of outdoor walking. This means lots of stress on your body, but it shouldn’t mean lots of stress on your pockets.
  • Therapy: Whether it’s for a chiropractor, a massage therapist, or a physical therapist, therapy is just as crucial for recovery as surgery. So when the government won’t offer medical reimbursements for therapy, our medical loans can provide medical bill help.
  • Dental visits: BC Health offers medical reimbursements for emergencies or doctors visits, they but don’t reimburse visits to the dentist. Apply for a medical loan to help you maintain your oral hygiene, without worrying about the steep dental fees.
  • Prescription drugs: The aches and pains that come with the active lifestyle of living in Vancouver are a big deal if you can’t afford the medication to alleviate the pain. A medical loan provides prescription assistance if you need help paying bills.
  • Assisted living: In situations where someone is in need of assisted living, it is disappointing to see them denied due to financial reasons. When that happens, a Magical Credit medical loan can help offset the medical billings.

FAQ’s for medical loans:

How long will it take until my medical credit application is approved or denied?

We’ll provide an answer to your medical loan application within 24 business hours.

What’s the criteria for medical financial assistance approval?

A $600 monthly direct deposit income is standard in order for us to consider your application. We consider other variables to offset bad credit score and make it easier for you to take out a medical loan, by accounting for your credit history. A history of unpaid debt will deem you immediately ineligible for a Magical Credit loan.

However, each case is different, and we can’t know for sure if your application will be approved until apply. So if you need help paying bills, fill out our online application here.

I have a direct deposit income of over $600 monthly, but it’s mostly made of government grants and subsidies. Does that count toward my overall income?

Yes! All we care about is that the money is directly deposited into your bank account. Even if the income is through government grants and subsidies, we accept it towards your application for a medical loan.

Which 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
How long does it take from approval of my application to the transfer of the medical loan?

If your application is approved, the money will be transferred over to you within a business day.

If my application isn’t approved for what I ask for, but I could be approved for less, will I be informed?

We will let you know if you can be approved for less than what is on your application. So if you want to ask for more than you need, but you’re scared you’ll ruin your chances of getting any loan at all, don’t worry. Ask for however much you’d like.

Can I be approved for a medical loan if I don’t have a bank account?

No. To qualify for medical credit, you need a direct deposit income, meaning you need a bank account.


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.