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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.

Marble

Finanso.Multilogin™

About lender

Marble is a Canadian fintech company assisting in setting up appropriate financial goals and strategies, rebuilding credit scores, or starting credit history. It does not provide direct loans.

The company was established in Vancouver, British Columbia, in 2015 with the mission to nourish the confidence people need to redefine themselves more broadly, as humans and contributors to their communities, and not based on past financial decisions or acumen.

It's operating in the whole of Canada (excluding Quebec).

Features

Marble offers products such as MyMarble, an artificially intelligent and data-driven financial technology platform. With this platform, you can go through personalized assessments, get individual recommendations, review options, and learn more if you want to improve your credit and manage debts.

Marble Boost is sort of a loan. The loan is to pay out the subscription cost for MyMarble Premium. The benefit of Boost is that, unlike paying for MyMarble Premium with credit or debit, you add an extra piece onto your credit report, which reports positively to the bureaus, boosting your monthly score.

MyMarble Premium costs $29,99/month. With this plan, you can receive the deepest master insights, track credit report errors to ensure the score's accuracy, and monitor spending habits.

Also, the MyMarble Premium plan allows you to utilize Point Deduction Technology©.

Point Simulator helps you to choose the desired credit score, analyze your credit report and banking info, and provide individual recommendations on specific actions to reach the target score. In addition, the budget Simulator allows you to increase your score within the chosen budget.

Boost loan is a financing option available in the Premium plan. You make monthly subscription payments which are reported as a tradeline to the credit bureaus to increase your score.

The Secured Future Credit Plan is a savings program and credit improvement tool. Your monthly payments are reported to the credit bureau, and you are building a savings fund and positive financial history.

Marble's Fast-Track loan is a consumer proposal exit loan that helps you finish with inefficient debts as fast as possible and start to rebuild your financial history. Marble immediately pays off the entire consumer proposal debt, and your monthly Fast-Track loan payments are reported to the credit bureau.

All products are available online through the MyMarble platform.

Pros and cons

Look through this pros and cons review to explore more about Marble Financial.

Pros

  • Opportunity to fastly exit the customer proposal

  • Different types of solutions to increase your credit score

  • Specialized in customers with bad credit

  • Online platform with a dashboard to manage your finances

  • Free access to features such as a learning portal, credit overview, etc.

  • Advanced technologies

  • Operating almost all over Canada (excluding Quebec)

Cons

  • Fees

  • You receive no money up-front

Marble is a unique solution for borrowers who have bad or no credit and are focused on the financial strategy and best opportunities.

There are advantages and disadvantages of Marble, and you can't use it as a cash loan, but you could try to borrow responsibly and achieve the larger goals in the future.

Loan conditions

Marble Boost is a sort of a loan. It is a subscription paid off as installment loans reported to Equifax and TransUnion.

Boost Subscription Financing is available through the MyMarble Premium plan; you repay installments reported to Transunion and Equifax. The term is 12 months.

Boost subscription costs $29.99 per month and a $5 processing fee; taxes vary by Province.

The Secured Future Credit Plan allows for accumulating savings and improving credit (repayments info is sent to Transunion). However, it is not a loan. Instead, you deposit your funds to save up, and at the end, withdraw all the funds except the interest rates and the administration fee.

At the end of the 36-month program, you can withdraw $3,000 or $2,000. Added interest rate is 13.99% (APR 27.3390% and 23.0373%), and $400 is the administration fee with an additional interest rate.

The Fast-Track loan covers your consumer proposal, and you start making installment payments depending on the sum of your debt. Interest rates range from 18.99% to 24.99%, terms vary from 36 to 84 months, and administration and legal fees range from $295-$1,500.

Methods of funding

Marble doesn't provide any funds up-front. However, you could withdraw your cash savings from The Secured Future Credit Plan when needed (minus the percentage of your contribution that was interest or part of the administration fee).

FAQ

What is Marble?

Marble Financial is a private fintech corporation utilizing the power of machine learning, data science, and artificial intelligence to assist Canadians in boosting their credit score and achieving financial goals. It does not offer cash loans. Instead, it is either a subscription that you pay during a particular time or your consumer proposal coverage.

Who owns Marble?

Marble Financial Inc. is a private corporation established in 2015 in Vancouver. Its CEO is Karim Nanji.

How do you qualify for Marble?

The only requirement to qualify for MyMarble is above the age of majority (18-19) in your province, as Marble is operating all of Canada, excluding Quebec.

The Secured Future Savings Plan is available for Canadians in Ontario, British Columbia, and Alberta.

To be eligible for a Fast-Truck loan, you should:

  • be a Canadian citizen or permanent resident

  • be at least 12 months in your consumer proposal (ideally 18 months+)

  • Owe less than $15,000 on your consumer proposal 

  • have a stable income

  • not to have any active payday loans

How much can you borrow from Marble?

The company's products aren't cash loans. But you can get $3,000 or $2,000 of your savings at the end of The Secured Future Credit Plan.

Is Marble a legitimate company?

Yes, it is. The lender has been operating in all Canadian provinces (excluding Quebec) since 2015. In addition, BBB accredited business has accounts on Facebook, Twitter, LinkedIn, and Instagram.

How does Marble work?

You can apply for any solution through the Marble official website or your Marble dashboard. But first, sign up for a MyMarble account, choose a pricing plan that suits you, and connect your bank account.

You will be able to understand which options are preferable and review your financial situation, habits, score, and budget. Artificial intelligence and data-driven technology will analyze your banking details to provide specific insights on how you can improve your credit. The Freemium Plan with Beginner Recommendations helps you understand the basics of your finances and how you can best utilize MyMarble. The Premium plan, for $29,9 a month, provides detailed advice, tools, and options.

When you are ready to work with Marble to build your financial history, choose one of the solutions (Boost or Fast-track loan or The Secured Future Credit Plan). Your connected bank account will be used to verify the bank data to collect repayments directly from it. A hard credit check is also required.

Once your application is submitted, the loan department will review the info and contact you if some details are needed.

All your options may be monitored with a Marble dashboard. For example, you can track your credit report, financial goals, habits, and current and historical credit scores.

You can apply online 24/7.

How do I contact Marble?

You can email at customers@marblefinancial.ca or call on Phone: 778-897-2172

Toll-Free: 1-855-661-2390

Address: World Trade Centre Suite 404-999 Canada Place Vancouver, BC V6C 3E2.

Company documents

Privacy Policy
Terms and Conditions

Financial stress can make us feel isolated and alone, but in reality, countless other Canadians struggle with the same worries and we want to give everyone the resources they need to feel confident in their financial future.

© Marble Financial Inc.

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

  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 Marble 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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