Magical Credit Reviews and Ratings

Magical Credit

Magical Credit has been helping Canadians consumers get approved for quick and simple short term personal loans since 2014. They offer personal loans up to $10,000 regardless of the borrowers past financial issues or credit. It is their number one goal to provide access to the loan solutions Canadians want and need. Better yet, Magical Credit accepts a wide variety of incomes, including but not limited to:

  • Unemployment insurance
  • Workers Comp
  • Maternity leave
  • Pensions
  • Baby bonuses

Magical Credit specializes in working with low-income earners and bad credit consumers. If you’ve been turned down by your bank, are looking for an alternative to a payday loan, or need to quickly cover the cost of an expense, Magical Credit could be the lender for you.


Business Hours
Monday-Thursday 9am-8pm Friday 9am-5pm Saturday 12-8pm Sunday 12-8pm

Support Offered
Web Chat Help Center/Blog Email Support

Services Offered

Conditions & Rates

  • Interest rate:
    23% - 59.7%
  • Amount:
    $500 - $10,000
  • Term:
    6 - 24 Months

Eligibility & Documents

  • Who is eligible:
    A borrower must be 18 or over, have a valid bank account with direct deposit from your employment or subsidy, valid Canadian ID. Must not be currently under a bankruptcy, consumer proposal or debt consolidation.
  • What you need to provide:
    Provide us with Instant Verification to your bank statements through our application. Valid Canadian ID, 2 pay stubs or a copy of your Notice of Assessment from your government subsidy and a bill to your current address.

Repayment & Issuance

  • How fast can you get the money
    1 business day
  • Funding method
    Direct deposit
  • How does repayment work
    Monthly or bi-weekly automatic payments.

Reviews & Ratings

I had the best experience with Magical Credit. Needed a loan to fix my car and they approved me for a loan when no one else would. I applied and appro... read more
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