If you’re currently a resident of British Columbia, Magical Credit accepts a wide variety of income sources from the federal (Canada) and provincial (British Columbia) governments. We also consider fixed private income, such as monthly payments for pension or insurance.
Below is a compilation of the most common types of government income received by people who live in British Columbia. Each of these types of income can qualify for a cash loan from Magical Credit, if you meet our other requirements. Depending on the amount of your monthly income, we will approve you for a loan between $500 and $20,000.
Please note that this list may not include every type of government income available in British Columbia. We accept most types of fixed government income that are received on a monthly basis. If you are unsure if your British Columbia 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.