Loans

How to apply for Magical credit loans?

Magical credit loans are specially made for helping people to accomplish their goals even with a low income or a bad credit history. Check out how to apply today!

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by Aline Augusto

Published on 02/26/2022

Applying for Magical credit loans: get a loan even with bad credit!

Find out how the application process works! Source: The Mister Finance.
Find out how the application process works! Source: The Mister Finance.

Magical Credit is a lender that provides loans up to $20,000 for people in Canada with a bad credit score or low income.

To be able to apply for it, you need a steady source of employment and income for at least six months.

Also, you must be discharged from any bankruptcies or consumer proposals. Plus, you need to provide a government ID or SIN that shows you are in the age of majority in your province.

You need a bank account, too, so the funding can be directly deposited into it.

Note that the service is not available in some areas, so make sure you live in Alberta, BC, New Brunswick, Newfoundland & Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, or Yukon Territory.

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Loan

Magical Credit

Online Tools

Apply for a quick loan with flexible terms.

You will be redirected to another website

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Apply online

See how to apply online for Magical credit loans. Source: Canva.
See how to apply online for Magical credit loans. Source: Canva.

Access the Magical Credit and click on Application.

Then, fill in the forms with your personal information.

Create a login and enter a promotional code if you have one.

Finally, continue to qualify for a loan.

The process is easy and fast.

Apply using the app

Apply using the website as described above.

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Magical credit loans vs. LoanConnect

If you have a low income or a bad credit score, Magical Credit loans might be perfect for you. 

But, if you want to keep searching for a loan that fits your goals and needs, check out LoanConnect.

Magical credit loansLoanConnect
APRFrom 19.99% to 46.80%From 5.75% to 46.96%
LOAN PURPOSEPersonal (you can use it  for any purpose without any restrictions)Personal
LOAN AMOUNTSUp to $20,000Up to $50,000
CREDIT NEEDEDAll credit scores are consideredAll credit scores are considered
TERMSFrom 12 to 60 monthsFrom 3 to120 months
ORIGINATION FEESee the terms and conditions when applying for a loanIt depends on the lender
LATE FEESee the terms and conditions when applying for a loanIt depends on the lender
EARLY PAYOFF PENALTYNoneIt depends on the lender

So, if you want to learn more about LoanConnect, click on our next post!

Logo LoanConnect em tela de computador

How to apply for LoanConnect?

No minimum credit score limit needed to apply. Check it out how to apply for LoanConnect!

About the author

Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by

Aline Barbosa

Senior Editor

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