Magical Credit is a Canadian financial service provider specializing in bad credit loans. The company offers quick and accessible cash loans to individuals with poor credit histories or non-traditional sources of income. With loan amounts ranging from $100 to $20,000, Magical Credit aims to assist low-income households and those who may find it challenging to secure funding through traditional banks. The application process is designed to be straightforward, allowing customers to apply online and receive approval within 24 hours. Magical Credit accepts various forms of income, including government subsidies and pensions, making it a suitable option for those who may not qualify for conventional loans. The company's focus on providing financial solutions for individuals with bad credit positions it as a valuable resource for Canadians seeking short-term financial assistance.
Magical Credit receives a mix of positive and negative feedback from its users. Many customers praise the company for its quick loan processing and friendly, communicative staff, highlighting experiences where they received funds rapidly and appreciated the thoroughness of email communications.
Reviewers often describe the service as "magical" and reliable, with several noting that they would return for future loans. However, a significant portion of reviews expresses dissatisfaction, with complaints about the company's practices, labeling them as "scammers" and criticizing their customer service. Some users recount negative experiences, feeling misled or treated poorly after applying for loans. Despite the positive experiences shared, the critical reviews suggest that potential borrowers should proceed with caution.
Summary generated with AI from recent reviews
Each source counts by its number of reviews. Only reviews written by people are scored.
| Source | Rating | Reviews | Weight | 6-mo | Fake risk |
|---|---|---|---|---|---|
Trustpilot Imported Trustpilot reviews | 4.0 | 60 | 100% | ● Low |
Monthly average rating from reviews written by people · latest review Sep 2025.
| Month | Average | Reviews |
|---|---|---|
| Oct 24 | 2.3 | 3 |
| Nov 24 | 3.0 | 2 |
| Dec 24 | 5.0 | 1 |
| Jan 25 | 1.0 | 1 |
| Feb 25 | 3.0 | 2 |
| Mar 25 | 3.0 | 2 |
| Apr 25 | 4.7 | 3 |
| May 25 | 2.3 | 3 |
| Jun 25 | 4.0 | 4 |
| Jul 25 | 2.3 | 3 |
| Aug 25 | 5.0 | 2 |
| Sep 25 | 5.0 | 1 |
Share of positive (4–5★) and negative (1–2★) reviews mentioning each topic · based on the 60 most recent reviews.
“Needed some quick cash to get me through”
“how is there an $18 difference between my payment schedules balance and my actual balance”
Same method for every company: overall rating, legitimacy checks, the average rating of reviews mentioning each area and the 6-month trend · Loans & Mortgages.
| Company | Overall | Legit | Service | Trend | Reviews |
|---|---|---|---|---|---|
| 4.0 out of 5 (good) | 100 out of 100 | 4.5 out of 5 (good) | +31% | 60 |
| 4.3 out of 5 (good) | 100 out of 100 | 4.2 out of 5 (good) | +39% | 1,000 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.6 out of 5 (good) | — | 1,000 | |
| 4.2 out of 5 (good) | 100 out of 100 | 4.0 out of 5 (good) | −19% | 618 | |
| 4.7 out of 5 (good) | 100 out of 100 | 4.5 out of 5 (good) | — | 27 |
Bottom line: Magical Credit is #5 of 5 on overall rating in this group.
60 reviews of Magical Credit. Filter by what matters to you.
Over a year ago
Needed some quick cash to get me through. Once I sent all documents, it was no time before I had my loan. Quick and painless. I will go to them in future.
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I've used Magical several times and have to say they are friendly and very communicative. The detail everything in email form and it its easy to read and they include every link you need so its easy to apply or reapply. They terms and rates are great and they are willing to work with the client.
Needed some quick cash to get me through. Once I sent all documents, it was no time before I had my loan. Quick and painless. I will go to them in future.
Good experience
Date of Review: 07/29/2025 After loaning with this company for multiple years I will never be reapplying here again after what they just did to my wife! After being approved for a 900$ installment loan and submitting her ID she was emailed and told that she was only approved for 300$ and it had to be paid back in 3 days (08/01/2025)! When they were asked why the amount was changed and why it had to paid back so soon they did not explain why the amount was changed, they only replied with a new payback date of 08/07/2025! In response my wife told them if they would not do the 900$ installment loan she was approved for she would just take her business elsewhere to which they responded with a clearly automated message saying she had withdrawn from the agreement and they wanted to know why? A bit crooked if you ask me! You had best hope you don't mess around with my account because if anything changes in that regard or if there are any withdrawals when my loan is done, which is damn near 3/4 the way paid off! I'll have you know I have a car now and Toronto, ain't so far away for me to go talk in person if needed! I used to be thankful for what you did for us but after that bs, I've lost all respect for you! Sincerely, Gaston Chaleyssin Edit: Upon looking over my agreement it says $777.54 remaining balance on the main page when my agreement says my balance should be at $759.54 as of 07/24/2025? how is there an $18 difference between my payment schedules balance and my actual balance? My loan was also for $2194.00 total for the record!
Loan pay off and reloan in less than an hour. This is why they are call Magical Credit.
Only because they email u saying that they can't help u but tell u too click on a link below ur email and we'll there scam sites so please don't do that to people it's rude and unprofessional
Really bad experience, scammer’s. I took a loan on Thursday (6/12)of $300 which I had to repay on the following Thursday (6/19)for $342. On that day I needed to re loan for one more week, they told me that they have to wait till the money hits their a/c which takes 3days or else I could e-transfer the amount and they will cancel the bank withdrawal which I did and got the 2 loan for $400 which I need to repay in 7 days. But they process the payment and got debited $342 again so in total I paid $684 for a $300 loan and the refund will be after 3 days which is on Wednesday and I got to repay the $400 plus interest on Thursday now I have to pay the interest for the money they have ,Never ever these guys. Don’t e-transfer the amount they will take the amount twice.
Applied online and loan was approved quickly. Customer service was great in answering all my questions
Magical credit is very reliable and delivers on time, fast and easy processing. Thank you magical credit.
professional, courteous, and fast
Magical Credit used to be great! Now they've pivoted and turned themselves into another scummy payday loan outfit.
I have dealt with many loan companies and this has to be the worst! No one needs money this badly to deal with such incompetence! Never again, they are scammers!
Very quick helpful friendly
Was in a tough spot needed a quick loan and they helped. All done online and quickly.
They were very helpful and I got approved and funds in my account fast great customer service
I've borrowed from Magical Credit a few times and have always had a great experience. They're efficient, personable, and make a genuine effort to ensure I receive my funds quickly.
Before you borrow a single cent from Magical Credit—READ THIS REVIEW. Unlike every other complaint, Magical Credit refuses to respond to this one. Ask yourself why. If they had nothing to hide, wouldn’t they defend themselves? Their SILENCE SAYS EVERYTHING. This isn’t just a bad review—it’s a public warning. ⚠️ MAGICAL CREDIT NO LONGER OPERATES IN ALBERTA – ASK WHY! Magical Credit has quietly pulled out of Alberta—but they don’t want you to know why. Legitimate lenders expand. Questionable ones disappear. 🚨 Why did they stop lending in Alberta? 🚨 🔹 Did they fail to meet regulatory requirements? 🔹 Were their lending practices exposed? 🔹 Did they choose to leave before facing real consequences? A lender suddenly abandoning a province should set off every red flag imaginable. ⚠️ SENIOR LEADERSHIP OPERATES IN BAD FAITH Magical Credit’s executives and VPs don’t fix problems—they ignore them. 🔹 Blocked my phone number to avoid answering questions 🔹 Ignored emails for WEEKS, then sent me the same useless agreement again 🔹 Refused to confirm basic details about their own reporting practices 🔹 Passed my file between collection agencies instead of addressing the issue 🚨 What kind of company operates like this? A lender should answer to its customers—not run from them. ⚠️ YOUR PRIVATE INFORMATION MAY NOT BE SAFE WITH THEM Magical Credit mishandled my personal financial information and passed it to multiple collection agencies without my consent. 🔹 Social Insurance Number and private financial data shared recklessly 🔹 Couldn’t even keep track of their own records 🔹 Refused to explain WHY my data was passed around 🚨 If this happened to me, how many others has it happened to? 🚨 If you care about your privacy, DO NOT DEAL WITH THIS COMPANY. ⚠️ THEY REFUSE TO VALIDATE DEBTS – WHY? For over NINE MONTHS, I repeatedly asked Magical Credit to provide legally enforceable proof of an alleged debt. Instead of responding with documentation, they: 🔹 Sent my file to different collection agencies instead of answering my requests 🔹 Ignored direct questions and dodged accountability 🔹 Delayed, stalled, and evaded—hoping I’d give up 🚨 A real lender provides documentation IMMEDIATELY. 🚨 Magical Credit refused. Ask yourself why. 🚨 DO NOT TRUST MAGICAL CREDIT 🚨 They had every chance to resolve this fairly. Instead, they chose: ❌ Evasion ❌ Delay tactics ❌ Privacy violations ❌ Debt collection games If this is how they treat someone who challenges them, imagine how they treat borrowers who don’t know their rights. 🔹 Blocked customers instead of answering questions 🔹 Mishandled private financial data 🔹 Refused to provide legal documentation This is NOT the behavior of a trustworthy lender. ⚠️ READ THIS BEFORE YOU BORROW FROM THEM! 🚨 Magical Credit is a lender that runs from accountability. 🚨 If you’re considering doing business with them: 🔹 Ask why they suddenly stopped lending in Alberta. 🔹 Read the reviews—look for the patterns. 🔹 Notice how they respond (or DON’T RESPOND) to complaints. Lenders should be transparent, professional, and accountable. ❌ Magical Credit is none of these things. ❌ ⚠️ LEGAL DISCLAIMER: KNOW YOUR RIGHTS This review is based on my personal experience with Magical Credit. 🔹 I do not acknowledge any debt or obligation to this company. 🔹 This review is based on firsthand factual interactions and legally protected opinion. 🔹 Nothing in this review should be interpreted as restarting any statute of limitations or confirming financial liability. Magical Credit thought they could ignore me. 🔥 Instead, this review will remain as a permanent warning to every consumer considering their services. 🚨 You’ve been warned. 🚨
Magical Credit, is a great place for loans. They tailored to your needs in a quick and timely manner. Very professional staff with great service. And most of all they will make your day Magical trust me.
Bad service you do the bank verification and they tell you it didn't work to send them your most recent paystub and bank statements for 3 months so you do and they say your pay stubs don't match the deposits on your statements well no that's because they where paid while I'm in a statement period so won't show until my next statement. They also said it was to prove I still worked there 4 days of jumping hoops and sending them everything and they deny me because of that. Funny part I apply else where do the bank verification and got approved within hours Funny
Magical Credit is a Canadian financial service provider specializing in bad credit loans. The company offers quick and accessible cash loans to individuals with poor credit histories or non-traditional sources of income. With loan amounts ranging from $100 to $20,000, Magical Credit aims to assist low-income households and those who may find it challenging to secure funding through traditional banks. The application process is designed to be straightforward, allowing customers to apply online and receive approval within 24 hours. Magical Credit accepts various forms of income, including government subsidies and pensions, making it a suitable option for those who may not qualify for conventional loans. The company's focus on providing financial solutions for individuals with bad credit positions it as a valuable resource for Canadians seeking short-term financial assistance.
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