Line of Credit

In this comprehensive review, we explore MDG Line of Credit designed to meet diverse financial needs. Discover how MDG® stands out with its competitive interest rates, flexible borrowing limits, and rewarding perks.
3200 $
Loan Amount
open-ended
Repayment Term
No APR if paid in full in 12 months
APR

Product Details

General Info
 Loan Amount Loan Amount
3200 $
Required documents Required documents
Valid ID
Repayment Term Repayment Term
open-ended
APR APR
No APR if paid in full in 12 months
Do I fit in?
Age Age
18 years
Credit Score Credit Score
650
Income required Income required

How to apply for MDG financing?

  1. Visit MDG's Website. Start by visiting MDG's website at MDG.ca. Once there, you can browse through the wide selection of products available for purchase.

  2. Select Your Desired Product. Once you've found the product you want to purchase, click on it to view more details. Ensure that the product meets your needs and specifications.

  3. Add the Product to Your Shopping Cart. After selecting your desired product, click on the "Add to Cart" button to add it to your virtual shopping cart. You can continue shopping for additional items if desired.

  4. Proceed to Checkout. Once you've added all your desired items to your cart, proceed to the checkout page by clicking on the shopping cart icon or the "Checkout" button.

  5. Choose Financing Option. During the checkout process, you'll be prompted to choose a financing option. MDG offers various financing plans tailored to your needs, including flexible payment terms and low monthly payments.

  6. Fill Out the Financing Application. After selecting your preferred financing option, you'll need to fill out a financing application form. This form typically requires personal information such as your name, address, contact details, employment information, and income details.

  7. Complete the Credit Assessment. Once you've filled out the financing application, MDG will conduct a credit assessment to determine your eligibility for financing. This may involve a soft credit check, which won't impact your credit score.

  8. Receive Approval Decision. After completing the credit assessment, you'll receive a decision regarding your financing application. If approved, you'll be provided with details about your credit limit, payment terms, and any applicable fees.

  9. Review and Accept Terms. Before finalizing your purchase, carefully review the terms and conditions of the financing agreement, including interest rates, estimated biweekly payment, minimum daily payment amount, and any other relevant information. If everything looks good, accept the terms to proceed with your purchase.

  10. Complete Your Purchase. Once you've accepted the financing terms, you can complete your purchase by confirming your order and providing any additional required information, such as payment details and shipping address.

Conditions

  • Flexible Payment Terms. MDG offers flexible payment terms to borrowers, allowing them to choose a repayment schedule that fits their budget and financial situation.
  • Competitive Interest Rates. Borrowers can benefit from competitive interest rates on their financing plans, helping to keep the overall cost of borrowing affordable.
  • Various Financing Options. MDG provides a range of financing options tailored to individual needs, including zero-interest plans for eligible orders paid in full within a specified period.
  • High Credit Limits. Qualified borrowers may receive high credit limits of up to $3,200, providing them with greater purchasing power to buy the products they need.
  • No Hidden Fees. MDG is transparent about its financing terms and does not charge hidden fees, ensuring that borrowers understand the full cost of their financing agreement upfront.
  • Quick Approval Process. MDG aims to provide a quick approval process for financing applications, allowing borrowers to receive approval decisions promptly.

Requirements

  • Credit Assessment. Borrowers are required to undergo a credit assessment as part of the financing application process. This assessment helps MDG determine the borrower's creditworthiness and eligibility for financing.
  • Minimum Income Requirement. Borrowers must meet a minimum income requirement to qualify for financing with MDG. This requirement ensures that borrowers have the means to repay their financing obligations.
  • Proof of Identity. Borrowers must provide proof of identity, such as a valid government-issued ID, to verify their identity and prevent fraud.
  • Residency Status. Borrowers must be Canadian residents with a valid Canadian address to qualify for financing with MDG.
  • Age Requirement. Borrowers must be at least 18 years old to apply for financing with MDG. This ensures that borrowers are legally able to enter into a financing agreement.
  • Employment Verification. Borrowers may be required to provide proof of employment or income, such as pay stubs or bank statements, to verify their ability to repay the financing.
  • Agreement to Terms. Borrowers must agree to the terms and conditions of the financing agreement, including the repayment schedule, interest rates, and any other relevant terms, before finalizing their purchase.

Additional resources

Sources

Company documents

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14.07.2022
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Last update 21.05.2024