Magical Credit Referral Program Terms & Conditions

These are the basic requirements of our referral program. Please read them carefully to ensure that you are eligible to receive referral credits from us. 

• You must have an active loan in good standings with Magical Credit in order to use our referral program
• Your referral must be a new customer who receives a loan from us (minimum amount $2,000) in order for you to qualify for a credit. *Please note, we cannot provide confidential information about whether your referral candidates have been approved or disapproved for a loan after you refer them.
• You will receive your $200.00 plus bonus credit after your referred friend’s loan has been active for 90 days and in good standings.
• All referral credits will be awarded in the form of EFT.

Other 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 $200.00 plus bonus credit. 

Q: How long does it take to get my referral credit?

A: We will debit it directly to your bank account on file, once all the requirements are verified. 

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 an EFT payment shortly after the 90-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.