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Magical Credit Personal Loans Review

Magical Credit Personal Loans

Magical Credit personal loans is a way for you to obtain financial relief when you get turned down by traditional bank loans. They are a loan company that offers you the personal loans for you need when you need to have cash quickly. Magical Credit personal loans can provide loans to anyone at any credit level.

Get a fast loan for up to $10,000 easily, all online with Magical Credit.

You are interested if

You are a consumer seeking a personal loan and have either good credit or bad credit, you can still apply for a loan. As long as you are Canadian Citizen over the age of 18 with a regular income.


Key Points

Brief DescriptionMagical Credit personal loans has something for anyone who doesn’t qualify for loans issued by banks.
Limits and DeadlinesYou can borrow anywhere from $500 to $10,000 in installment loans with up to 24 months to repay.
UrgencyAs long as all your documents and information checks out, you can get your loan within 24 hours.
APR RangeTheir interest rates run from as little as 3.9% and up to 56.50% depending on your current situation.
Closing/Origination FeesThere are some associated fees that are dependent on the amount of the loan you are approved for.
Early Payment FeesThere is nothing stated regarding early payoff or associated fees.
How to Contract the ProductYou can head over to the Magical Credit website to get in touch with them. You also have the option to call them or visit in a branch if you want a more personal approach.
Main requirementsTo apply, you must have an active bank account and subject to a credit check and identity check. You must have an active bank account and be over the age of 18.

About Magical Credit Personal Loans

Main Features

Being either for those in a lower income bracket or those who are in a higher income bracket, Magical Credit personal loans can be better described as a company that caters every financial class. There is no ideal market for their loans as more and more people in any class are finding that they need the occasional loan to bridge gaps in their income. Magical Credit carries an extensive range of lending options that come with reasonably flexible terms in amounts, repayment and interest rates. There is the potential for an ideal candidate to have a solution to their financial dilemmas because they specialize in bad credit loans, benefit loans and much more. There aren’t that many lenders who have the loan options and flexibility like the options offered by Magical Credit, which gives them the competitive edge in the financial market as the whole population bracket is covered. What mainly sets them apart is they have loan options for those who are struggling to rebuild their damaged credit whether with bad credit loans or even bankruptcy loans.

Despite all the great qualities you can find with Magical Credit personal loans, there are a still a few things that make them unfavorable for some. If you have filed bankruptcy that is not discharged or consumer proposal, you will not qualify. The same goes if you have defaulted and have outstanding debts owed to payday loan companies. Magical Credit personal loans have zero tolerance for any outstanding payday loans. This means that you will not have the option for any type of loan, even if the loan is to repay those defaulted payments.

The repayment method is fairly straightforward as there is only one option for making payments. The primary way they collect payments from you is by setting up automatic payments from your bank account that will be taken the morning of each payment date. You will have no direct control over these payments, but you do have control over how many additional payments you make and how you make them. This stipulation has been put in place to make sure at least the minimum payments get made with the option to make additional payments at your own discretion. This being said, what makes it easier for you is to pay on time and not have to worry about remembering to make your payments, but the bigger issue is if you lack the funds to make these payments on any given day. Then you are going to attain additional interest fees from Magical Credit and the possibility of a fee from your bank as well. Any additional fees for missing payments is at the discretion of Magical Credit. Magical credit personal loans do not have any set standards or rates if you cannot pay your loans on time, they do expect that if you get a loan from them, your payments will be made as all payment schedules and amount are determined by what you can afford.

Additionally, Magical Credit personal loans have a few unique features that make them different from other lenders. There is the option to apply for any loan or help you need in regards to whatever your financial situation is. Magical Credit is customer focused with personal loan options for each financial class rather than a simple no. They are determined to help as many Canadians as possible. As such, the repayment is very flexible with a maximum term or 24 months, it’s simple if you have a balance, you continue to pay until the end of the term. If you have issues with payments or want more than $10000, you might want to go elsewhere for your loan options.

More than that, Magical credit personal loans do offer you full support as you work through your loan. If you encountered difficulties you can get in touch with them to find out other options you may have. This can help you by giving you a clear line of sight into your credit.While you are working hard to pay your loans, they are willing to help you with whatever advice they can.

How Does It Work?

Magical Credit personal loans are quick and simple with a 100% online process that makes it efficient for those who don’t want to spend hours applying for a loan. You simply choose your loan amount with the calculator, take five minutes of your time to fill out the online application and submit to the required bank and identity checks that are fully secure and only offer confirmations of the information you have already provided. Your application will be processed as soon as they receive the required feedback to your checks. You will get a decision within 24 hours and your funds shortly thereafter. After receiving the lending decision that includes the amount of your loan and all associated fees and rates, you can then receive your funds by direct bank transfer within 24 hours.This also depends on what time of day you fill out the loan application as you have 24/7 access. Your loan may be delayed for next day processing if you only fill out the application near end of business day. Additional options regarding your loan is to get a loan protection option to help you in the event that your financial situation changes and it becomes difficult for you to make your regular payments. This is a highly recommended option because it will also protect your credit from receiving any damages due to misfortunes.


Magical Credit personal loans are dependable, comprehensive and relatively painless solutions to most of the money problems encountered by the average Canadian as well as a resolution to Canadians who have less than ideal credit. All rates are also highly transparent and hide no extra fees which are disclosed at the time of approval, so you’ll have all the necessary information to make a smart decision about whether to take the loan when you receive your free quote. The entire process is very user-friendly and for the most part mimics what you might find in a typical bank’s lending process.

Even those with lower credit scores can be granted up front loans, Magcial Credit personal loans has an offer may help you find it easier to work toward better credit with the company’s support and resources behind them. However, those starting from a truly vulnerable credit position will have to start their financial transformation without receiving money up front.

Magical Credit: A real contender for personal loans

Magcial personal loans has quickly made their name known across the Canadian market. They have helped thousands of Canadian achieve the financial security they have been looking for from poor to good credit. Since they have no specific limitations to their loans, they are the ideal lender for those who aren’t certain of their up-coming financial obligation. The main focus of Magical credit is offering you affordable personal loans to help you when you need it. Magical Credit personal loans desire to make it attainable for you to improve your credit score over time through the flexible use of their personal loan options that include bad credit loans. Having established themselves with a strong foot hold in the Canadian loaning market, there is potential for them to continue to expand well into the future with their constant willingness to help you achieve your goals

What We Think

Magical Credit is an established and familiar presence in the loan industry, so if being a well-known company that has public recognition is something that matters to you, this company can be a decent choice for your lender. Especially if you have had difficulty to get personal loans in the past. They offer lower loan amounts than their competition but the range of loan amounts that you might otherwise have difficulty coming up with are within standard. Their $10000 top lending amount can be easy to achieve without having to get the aid of multiple lenders. If you think there is potential that you would want to borrow again in the future, it can be worth your time to borrow from them as Magical Credit personal loans will have a history with you and built your familiarity on the whole loan process. Borrowing from the same lender again will put you in a more favorable light as they already know that you are dependable.

Being a lender that focuses on rebuilding credit, they may have difficulties catering to other potential customers who may need Magical Credit personal loans. Having a tarnished credit history won’t put a hindrance on your ability to borrow from Magical Credit personal loans unless you defaulted on payday loans. Having complete access to their loans and the ability to play around with the loan calculator can help you come up with the ideal loaning option that suits you and your situation for whatever purpose suits you best of all.

Overall, Magical Credit personal loans is an ideal lender for when you are looking for personal loans regardless of your credit situation. They do offer you a solution that is fairly immediate with no real wait period between application and the arrival of funds. No matter what financial need you may have, their loans have no strings attached. Once the money is in your hands, you can do with it as you desire for whatever reason you might have wanted the money for. No matter what schedule you hold, you have access to applying for Magical Credit personal loans any time you need one. You do have the option to go in branch and discuss your loan options with a representative or you can call them. No matter what your financial situation, you have options available for you and Magical Credit personal loans will help.