Frequently Asked Questions
Q: What if I don't have a Magical Credit loan account?
A: Sorry, only current Magical Credit customers can take advantage of our referral program.
Q: Does the person I refer have to be a new customer?
All referred customers must be new to Magical Credit and never had a loan with us before in order for you to qualify for the referral credit.
Q: Do I get a credit each time the people I referred take out a loan?
A: No. You get a referral credit for their first loan only.
Q: Is there a limit to the number of people I can refer?
A: No, feel free to refer as many people as you like. As long as they are new customers, you're eligible for a $50 credit.
Q: How long does it take to get my referral credit?
A: We mail you a cheque after your referral has had an active cash loan with us for 60 days.
Q: In a case where multiple people refer someone, will they all get a referral credit?
A: No, the first one to provide the referral will be the one that receives the credit
Q: How can I tell if my referrals have been approved for a loan or not?
A: Unfortunately this information is confidential. If your friend signs up for a cash loan through Magical Credit, you'll receive a cheque in the mail shortly after the 60-day probation period is up.
Have a question that's not on here? We'd be happy to discuss any questions or concerns you may have about our referral program or our cash loans. Contact us now.