If you’re currently a resident of Alberta, Magical Credit accepts a wide variety of income sources from the federal (Canada) and provincial (Alberta) governments. We also consider fixed private income, such as monthly payments for pension or insurance. Below are some of the most common types of government income received by people who live in Alberta. Each of these types of income may qualify for a cash loan, if you meet our other requirements. Depending on the amount of your income, you can qualify for between $500 and $20,000.
Please note that this list may not include every type of government income available in Alberta. We accept most types of fixed government income that are received on a monthly basis. If you are unsure if your Alberta government subsidy or fixed monthly income qualifies you to receive a cash loan from us, please call us at 1-877-213-2088.
Our loans are considered short-term loans and have up to a 6-60 month term with an interest rate ranging from 3.4%-20% per month.
Example: $1,500 borrowed for one year at 3.4% per month. Monthly payments are $199.05. Total payback with interest and fee of $194.00 is $2,388.54.
NOTE: 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.