Magical Credit provides short-term personal loans in Alberta for people with bad credit that need quick cash!
With a fixed monthly interest rate (3.9%), there’s no surprise fees or surcharges, keeping you on the financial straight and narrow. And our 24-hour-loan approval gives you a lender you can rely on when you need quick cash!
What it also means is that bad credit loan applicants don’t have to worsen their credit score by spamming loan applications.
Still don’t believe it? Calculate your personal loan repayment with our short-term loan calculator!
A low interest, personal loan from Magical Credit has a fixed monthly interest rate of 3.9>#/b###. Payday loan companies will charge up to $30 for every $100 borrowed. You do the math.
While we don’t directly take on your debt, you cantake out a bigger personal loan from Magical Credit. This can potentially pay off your several smaller debts.
Yes—personal loan eligibility in Alberta only requires a 6-month period of employment.
It’s actually the contrary, since our system enhances your privacy and security. In fact, we operate at 128-bit encryption – the same security levels as banks. We also use Verisign, to monitor and verify our website, which is the highest level of online security.
We provide personal loan repayment terms anywhere between 12-60 months. Our short-term loan calculator can calculate your short-term, personal loan repayment schedule.
Yes—personal loans are a suggested method for quick cash needs if you don’t have a credit card. However, a bank account is required in order to apply, since our loans are direct deposited.
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!
Magical Installment Loans: We offer installment loans in the amount of $1,500- $20,000 that have a 12-60 month term with an APR 19.99% min - 46.8% max. On $1,500 borrowed for a 1 year term at 3.9% per month, the total cost of borrowing including a $194 fee is $896.00. The total amount to be paid back with interest and fee is $2,396.00. AB License #349796 and BC License #83626
NOTE: Our installment loans are open, so you can pay off your loan at any time with no penalty. You will only pay interest up to the date you pay it off.
Magical Cash Loans - Ontario Residents only: We offer Magical Cash Loans in the amount of $100-$1,500.00. The cost of borrowing is $15.00 per $100.00 for each $100.00 borrowed. On a $1,000.00 loan for 14 days, the cost of borrowing is $150.00. The total to payback is $1,150.00 which is an annual percentage rate of 391.07%. License #4741412.
The 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 will impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureaus.