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Lender
Rating by Finanso®
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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.

Credit Matik's pay off

Finanso.Multilogin™

Repayment of loan

Credit Matik has a user-friendly website where you can view your payday loan’s remaining balance, method of imbursement and upcoming payment schedule.

Requesting for a payment delay with Credit Matik is very easy and possible. At least 72 hours before the scheduled repayment, the debtor must notify the company. If you are granted a deferral, you will be charged a $10 – $35 administration fee.

If you anticipate missing a payment, call Credit Matik as soon as possible. They'll most likely examine your situation and offer you a new repayment plan. If no agreement is reached, they may demand immediate repayment of the entire loan amount, plus interest and fees. They also have the option of selling your account to a collection agency, which could harm your credit score.

Credit Matik offers an open credit loan, which means you don't have to return your loan within a set period of time. Credit Matik claims that its loans are often repaid in 3 to 6 months, but because you can repay the loan at any time without penalty, strive to refund it much sooner to conserve money.

Credit Matik loans calculator

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

Loan amount
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Enter the desired loan amount

CAD
CAD
250 $
15000 $
Loan term
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Specify the loan term for the calculation

months
days
1
12

What to pay attention to when applying for a loan from Credit Matik

  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 Credit Matik 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 Credit Matik’s reviews by September 2022
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