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Do You Qualify For A Short Term Loan?

Magical Credit requires applicants to be employed for 6 months. We want to ensure you can make your monthly payments. You can choose between 6 and 60 month short term loans. We approve cash loans between $500 and $20,000 depending on your income.

Requirements For Cash Loans

Magical Credit has a very straightforward online loan application to streamline the process of qualifying for a loan. Unlike banks, which can have a laundry list of requirements for a short term loan, Magical Credit has 3 key requirements, across all provinces.

You have been employed for more than 6 months
Your income is direct deposited into your account
You have a history of paying off your loans

To determine if you qualify for a cash loan, please submit an online loan application:

For more information about our cash loans, read how it works, and check our FAQs. To calculate your monthly loan payment schedule, try our short-term, personal loan calculator. If you still have questions, please feel free to contact us. We typically respond to all inquiries within 1 business day.

Our loans are considered short-term loans and have up to a 6-60 month term with an interest rate of 3.9% per month. 

Example: $1,500 borrowed for one year at 3.9% per month. Monthly payments are $199.67. Total payback with interest and fee of $194.00 is $2,396.00.

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.

823 people applied for a loan with us in the last 7 days
47 people applied for a loan with us in the last 24 hours
8 people applied for a loan with us in the last hour