Unlike payday loan companies, Magical Credit offers fixed interest, open loans you can pay off when you want. Our interest rate is a fixed 3.9% monthly—no surprise fees or surcharges, and you’ll be able to improve your credit while freeing yourself from debt.
Magical Credit understands that life in New Brunswick can be expensive. And if you have bad credit, and the lobsters aren’t biting like they did last season, getting a loan at a bank is a tall task. That’s why we’ve designed our personal loans for bad credit applicants in New Brunswick!
Calculate your risk-free, personal loan payments with our short-term loan calculator!
You Don’t Have a Credit Card: When most people are strapped for cash, they can lean on their credit card. But if you don’t have a credit card, a personal loan is a perfect solution if you need money fast.
Day-to-day Costs: While you don’t bother with credit cards, your chequing account is in overdraft. So, say goodbye to “frivolous” expenditures like food, gas, and weather appropriate clothing. Or, just take out a personal loan and pay for basic necessities!
Milestones: Your significant other isn’t going to be impressed with the paper mache mask you made for your 10-year-anniversary. Take out a personal loan, and buy the one you love something that won’t end your relationship.
Investments: Your buddy has the best recipe for seafood linguine on the east coast! He’s opening a food truck, and he wants you to be a part of it. Don’t miss out because you’re low on cash! Take out a personal loan so you can invest in becoming the next Guy Fieri.
Our personal loans have a fixed 3.9% monthly interest rate, while payday loan companies charge up to $30 for every $100 you borrow. You don’t need to be a mathematician to know we offer better rates!
While we don’t offer direct debt consolidation loans, you’re able to take out a bigger personal loan from us to cover your smaller debts.
Our system works to enhance your privacy and security. We operate at 128-bit encryption- bank level security. Verisign – the highest level of online security – monitors and verifies our website.
No—we only offer repayment terms between 6-24 months for our personal loans.
Yes—Manitoba and Quebec are the only two places in all of Canada where we don’t offer 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!
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 and British Columbia 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%. ON License #4741412. BC License#85919.
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.