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Please be aware Magical Credit will not request you to send any upfront fees in order to get a loan from us. If you are contacted by anyone requesting this by email, text or phone, please call us immediately at 1-877-213-2088.

Apply for a personal loan online. It’s easy, convenient, and only takes 5 minutes to complete the application!

Apply Now

No Credit? No Worries: Why Personal Loans for Bad Credit Fit Your Financial Needs

Life can pile up on you pretty fast. You could be moving into a new home, needing a new car, getting married, filling a cavity, and traveling overseas all in the same year. And before your know it, your chequing account is a pack of gum away from overdraft.

If you have bad credit or you don’t have a credit card, Magical Credit specializes in bad credit personal loans! Our short term personal loans enjoy the advantages of:

  • Lower interest rates than payday loans and credit card cash advances
  • The flexibility of being able to pay with cash and not on a line of credit
  • One fixed interest rate, versus credit cards which have a bevy of surprise stipulations and surcharges

Not sure if you can keep up with a personal bad credit loan? Calculate your fixed loan payment schedule with our short-term loan calculator!

Time is Money with Personal Loans Online

Magical Credit does personal loans online. It only takes 5 minutes to apply, and you’ll have your money within one day thanks to our 24-hour approval process!

Instead of driving around to different banks or unfriendly quick cash lenders, eliminate the middleman and go straight to the source at Magical Credit!

I want to borrow:

< $2000 >
$2,000
Min
$10,000
Max

Personal Reasons for Personal Loans

  • Personal Emergencies – Injuries, illnesses, car accidents, and malfunctioning home appliances don’t happen at your own convenience. When you get staggered by an unexpected emergency, a personal loan from Magical Credit can get you back on steady legs.
  • Personal Necessities – Haircuts, groceries, work clothes, toiletries – many of life’s most basic needs seem unaffordable when you’re low on cash. If you have bad credit, a personal loan from Magical Credit will help cover the nagging costs of necessity!
  • Personal Milestones – You don’t have to propose with a cubic zirconia, get married at a McDonalds, or have your honeymoon in Buffalo. Magical Credit’s personal bad credit loans provides the quick cash you need to make life’s biggest milestones memorable!
  • Personal Finances/Investments – Don’t miss out when a time-sensitive chance to be the captain of industry presents itself. If you want to invest some cash into your friends’ food truck, a short-term personal loan from Magical Credit can get business cooking fast, even if you have bad credit!

FAQs about Personal Loans

How am I supposed to trust that your Personal Loans Online aren’t just some scam for my personal information? Our system is designed to enhance your privacy and security, operating at 128-bit encryption, which is bank level security. Our website is also monitored and verified by Verisign, the highest level of online site security.
Why should I get a Personal Loan instead of a Payday Loan? Magical Credit’s low interest personal loans do not charge the same interest fees as payday loan companies. We have a fixed 3.9% monthly interest rate, whereas your average payday loans costs up to $30 for every $100 you borrow.
If I have a laundry list of debts stemming from personal expenses, can a Personal Loan from Magical Credit consolidate my debt? While we can’t directly consolidate your debt, you can take out a bigger personal loan from us to cover your many smaller debts.
I’ve only been working at my job for 8 months, can I still qualify for a Personal Loan? Yes – to qualify for a personal loan from Magical Credit, you must be employed for a period of 6 months.
What if I’m unemployed, can I still apply? Yes – as long as you are collecting a source of fixed income. This could come from Government Subsidies such as unemployment, disability pay or baby bonuses.

What if I need a couple of years to pay back my personal loan?

Magical Credit offers loans between 6-24 months. Calculate your bad credit personal loan payment schedule with our short-term 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.