How can we help you get your online cash loan?
Any questions about our instant approval loans? Credito has the answers.
How can I request my no credit check loan?
Am I eligible for a loan?
Loans have never been easier, but we still have some basic requirements for you to get approved. You deserve to know what goes into our decision.
Credito wants to make this process as transparent and easy as possible. Here's an example of a perfect candidate:
- Age: at least 18 years old
- Citizenship: Canadian
- Bank account: Canadian (your account must be at least 3 months old)
- Steady job: at least 3 months
- Short-term debt to income ratio: Low
- Monthly income: $1200 or more
- Bankruptcy: No problem! As long as it's discharged
What sources of income are allowed?
We accept employee revenue and employment insurance as sources of income. We are not currently accepting candidates whose primary source of income is: private pension, self-employment, student loans, disability income, welfare, child tax and retirement savings.
How much can I borrow on my first loan?
The max eligible amount for your first loan is $500.
What is an instant verification?
The instant verification service is the very thing that allows us to make a decision fast. We don't want you to wait around for eternity or have to go through a painful applying process.
In a few clicks, we can confirm your identity and get access to a secure, electronic copy of your bank statements from the last 90 days. No paper, no more actions needed from you.
It's a fast, convenient, and discrete way to get your loan.
Can you see my password and banking information?
No. Your username and password are not visible to us because they are only sent to your bank to confirm your identity. If your identification information is accurate, we will receive an electronic copy of your bank statement from the last 90 days, allowing us to evaluate your loan request.
How can I make sure this is not a scam to get my personal information?
We created our system to simplify the loan request process for everyone. This system, designed to provide you with faster and better service, runs according to the highest safety standards, the very ones used by banking establishments.
What will you do with my information?
Your information will be transferred directly to your bank to confirm your identity. The bank will then send us a statement from the last 90 days on this account. We keep this read-only copy safe and secure until we make a decision, and we never display or stock your information after we approve your request.
How do you protect my personal information?
We understand your concern; we use the highest security standards and the best practices in order to protect your personal information. These standards include 128-bit encryption for usernames and passwords. We also make sure that your information is never displayed or stored. Furthermore, every time you communicate with our company, we’ll ask at least two security questions to identify you.
Do I need a phone number to get a loan?
Yes. You must have a phone number in your name that we will authenticate during the loan process.
In which case could my application be refused?
We aim to make loans more accessible than ever, but there are some cases in which we could deny an application. Here are the most common reasons why Credito declines customers:
- You do not meet our eligibility requirements
- You provided false or incorrect information
- You already have a loan with us
What is the interest rate?
We work with the best partners to offer an approximate annual interest rate of 26% on your first loan with us. If unpaid, the applicable interest rate is 2.17% monthly.
On your second and third loans, we work even harder to reward you for being a good payer. That means your interest rate will be 20% and 15%, respectively. This equals to a monthly rate of 1.67% and 1.25%.
Credito will also charge you a broker fee.
How can I sign my contract?
Once your application is approved, you will receive an email with the option to sign your contract online. The second option is to print it out and return a scan or photo to us by email at email@example.com.
How do I get a copy of my contract and/or reimbursement schedule?
When will I get my loan?
When we accept your request, we'll send you an online agreement. Sign it before 1:30 P.M. EST, and we will deposit the funds in your account before the end of the day!
If you get your approval after 1:30 p.m., you will receive your loan in up to 24 business hours.
How long do I have to pay back my loan?
If you borrowed $500 or $600, you have 90 days to pay your loan in full. If you borrowed $700 to $750, you have to pay back your loan entirely before 120 days.
Can I pay my loan in advance?
Yes, you always have the option of paying off your loan faster by increasing the size of your payments or making a single payment. You must contact our customer service department to do so.
What happens if I miss a payment?
If you cannot make an upcoming payment, our team will work with you to find a solution. Most likely, the amount of your missed payment and a $40 late fee will be added to your balance and will have to be paid by the end of your loan repayment.
If you don't make an arrangement, your debt might be transferred for collection. In that case, our agents will contact you to settle the situation.
Are all payments eligible for deferral?
Any request to defer a payment must be made 48 business hours before the planned date of withdrawal and before 9:00 am. An agent from our collection department must approve your deferral request.
What is the cost of deferring a payment?
Our administration fee is $25 for a deferred debit. The cost will be added to your balance and charged at the end of your reimbursement.
If I need to postpone a payment, when and how should I ask for a deferral?
What are the penalties for insufficient funds?
If your pre-authorized payment gets declined for insufficient funds, you will have to pay a $40 fee. Your financial institution may also charge you a fee for insufficient funds, which is usually between $25 to $48 for Canadian banks.
Credito offers you an option to avoid those pricey fees: you can contact us anytime to postpone a payment. We will defer your payment to a later date and charge you a $25 administrative fee.
I switched to another bank. What should I do?
How do I update my personal information?
When can I renew my loan?
You can apply for renewal as soon as your balance is below $150.
What is your loyalty program?
Our company proudly offers an advantageous program for our loyal customers through our lending partners. Your first loan with us will be at a rate of 26%, the second at 20% and the following ones at 15%.
What are your business hours?
Our offices are open Monday to Thursday from 8:30 a.m. to 5:30 p.m. Eastern/5:30 a.m. to 2:30 p.m. Pacific. On Fridays, we're open from 8:30 a.m. to 4:30 p.m. Eastern/5:30 a.m. to 1:30 p.m. Pacific. Our offices are closed on Saturday and Sunday.
What are your phone and fax number?
Our coordinates are: