Magic Payday wins the award for providing money in a timely fashion. The title of the company says it all, because from the time you begin filling out the loan application to the time when the money is deposited into your account makes it feel like magic.
The website at Magic Payday is one of the most basic, streamlined payday loan site on the internet. Magic Payday advertises itself as the home of the 2 minute loan application. Essentially, this firm has stripped down all the questions to just the bare facts.
Do you qualify? You must be 18 years old and have $800 minimum in monthly income.
Do you have an active checking account? You must, because Magic Payday (specifically their lending partners) must be able to deposit your loan into that account.
Are you at least 18 years old? You have to be an adult to get a payday loan in the U.S.
Once you have gotten through the 2 minute application your information will be submitted to the various lenders that work with Magic Payday. This is similar to the function of a company like Lending Tree. Magic Payday is the facilitating the loan but not actually lending the money.
When the loan is approved the money will be deposited into the checking account you provided. This can happen the same day as the loan request but usually it will be the next business day, most likely in the morning.
Just like 99% of all payday companies, Magic Payday will not check your credit history at the three major credit reporting agencies. So if you have a bankruptcy or credit card charge-offs, they will not hurt you when you go to get the payday loan.
There is a large degree of flexibility of the loan. You can set the payment dates to match your payday from your employer. And you'll have the ability to choose a repayment scale that fits your budget. If you need an extension the payday can be extended, for a fee of course.
Speaking of the rates, they are consistent with other online payday lenders. Although you do not get much of discount in the interest rate charged, Magic Payday will not charge more than the standard rates. Magic's big push is for speed, to deliver the loan in your hands in less than 24 hours.
Payday loans are highly competitive at this point. The number of online companies that offer this type of loan has exploded over the last few years. Magic Payday is one of the more reputable and reliable firms online. They have a secure website and have a well defined privacy policy.
Rather than your neighborhood lender, give Magic Payday a try. The speed, convenience and rates will most likely be better than what you are used to getting from the strip mall.
