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Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Credit2Go

Finanso.Multilogin™

About lender

Credit2Go is a Canadian online lending company located in Quebec. They provide loans from $250, an excellent option for people who need a small amount of money immediately. Credit2Go includes cash for a short period. Usually, it is 3-4 months. The customers can apply for a loan on the company’s website. According to the company's information, approval usually takes about 24 hours. The amount which may be borrowed varies from $250 to $1,500, and the lender allows to choose the frequency of payments: weekly, bimonthly or monthly. Credit2Go has operated across Canada for several years. Loan conditions are pretty standard, and there are no specific requirements. Also, the company allows renewing the loan if necessary once the client has repaid 85% of the initial loan.

Besides loans, Credit2Go provides other financial services such as rebuilding solvency. The company checks all credit documents and additional information and helps to highlight the mistakes for the client to avoid fraud.

Features

The most significant feature of Credit2Go is that they provide small amounts of money for a short period. The most considerable amount available to be borrowed is $1,500. Also, their loan conditions are not strict and don’t have specific and non-standard requirements.

Also, the company helps its clients to rebuild solvency by doing an audit of clients’ credit reports. It aims to avoid fraud and increase and restore customers’ financial health.

Credit2Go pledges to work with the best financial institutions to offer a maximum annual rate of 29%.

Pros and cons

Cooperation with this company has its pros and cons.

Pros

  • The loan conditions of this company are not strict and would be suitable for the majority of potential customers;

  • Simple application form on the company’s website;

  • Quick approval. The customer knows the decision in several minutes;

  • Suitable for people who need a relatively small amount immediately;

  • Solvency rebuilding services;

  • Ability to choose the frequency of the payments;

  • The company operates around the whole country of Canada;

  • The customer is allowed to renew the loan;

  • The website contains a helpful payment calculator which shows how much the customer will have to pay;

  • The company doesn’t check any credit information of the customer;

  • The company works 24 hours a day.

Cons

  • Sometimes pretty high rates – up to an annual rate of 29%;

  • Not suitable for people who need a long-term loan;

  • The website doesn’t contain enough information about the company;

  • If the customer can’t pay on time, the company will charge a fee, and also it might harm the customer’s credit history;

As we see, the company has some advantages and disadvantages.

It would be beneficial for people who need some money in the nearest time, but it wouldn’t be for those who need a long-term loan. Also, the company can have high rates and may hurt the client’s credit score.

Loan conditions

The loan conditions of this lender are simple enough. The customer must be 18 years old or older, and also, they must be a resident of Canada. Also, they must have been employed at the same place for the last three months. Moreover, the client must have no bankruptcy or have no intention to file for bankruptcy in the next three months. Finally, the client must be paid by direct deposit in a Canadian bank and must have two references who don’t live at the same address as the client.

If a customer fits in these conditions, they must complete an online application form, and after the verification, the funds will be transferred.

Methods of loan funding

After the customer passes the verification and the company approves the loan, the amount will be transferred directly to the customer’s bank account by direct deposit.

FAQ

What is Credit2Go?

Credit2Go is a Canadian online lending company that provides relatively small loans ($250 - $1,500), an attractive option for people who need a small amount of money immediately. In addition, credit2Go provides cash for a short period. Usually, it is 3-4 months.

Also, Credit2Go provides other financial services such as rebuilding solvency. They audit clients’ credit reports to find any mistakes that may harm the client’s financial health.

Who owns Credit2Go?

Unfortunately, there is no data about the owners of this company in open sources.

How do you qualify for Credit2Go?

To borrow from Credit2Go, you must be 18 years old or older, be a resident of Canada, and have been employed at the same place for the last three months. Also, you must not intend to file for bankruptcy in the nearest three months. In addition, you will need to prove that you are paid by direct deposit in a Canadian bank, and you must have two references who don’t live at the same address as the client.

How much can you borrow from Credit2Go?

Credit2Go provides loans from $250 to $1,500.

Is it a legitimate company?

Credit2Go is a business registered with the Government du Quebec. The business address is 2259 Av. Bourgogne, Chambly, Quebec J3L 1Z9. The incorporation date is 2014-12-03. Quebec business number is 1170557632.

We are committed to helping you! Any time of the day Your application will be processed immediately.

© Credit2Go

Financial products

Credit2Go
Personal loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$250-$1,500
Rate
i

Effective interest rate on the product

up to 29%
Term
i

Loan term for the financial product

3 - 4 months

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$10,000 - $2,500,000
Rate
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Effective interest rate on the product

starting from 1.05%
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Loan term for the financial product

up to 30 years

Calculate loan payments in Credit2Go

Credit2Go calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
i

Enter the desired loan amount

CAD
CAD
250 $
1500 $
Loan term
i

Specify the loan term for the calculation

days
months
90
120

What to pay attention to when applying for a loan from Credit2Go

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Credit2Go from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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All Credit2Go’s reviews by August 2022
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