Rating by Finanso®

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.

Simple Credit Review

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About lender

Simple Credit, based in Canada, focuses on assessing individuals' creditworthiness and providing endorsements tailored to their needs. With a commitment to offering flexible and rapid service, Simple Credit ensures that customers receive the support they require, regardless of their financial circumstances. Whether it's accessing cash, applying for loans, or managing accounts, Simple Credit strives to simplify the process while maintaining strict adherence to legal standards and safeguarding personal information. With a user-friendly platform, customers can easily create accounts, log in securely, and submit requests with confidence. Simple Credit is dedicated to assisting customers in saving time and effort throughout the credit approval process, ensuring that they receive timely approvals and access to funds.

Simple Credit


  • Personal Loans. Simple Credit provides personal loans ranging from $300 to $1,500, ensuring that individuals have access to the funds they need, whether for emergencies, expenses, or other financial requirements.
  • No Minimum Credit Level. Unlike traditional lenders that often have stringent credit score requirements, Simple Credit welcomes customers from all credit backgrounds. There is no minimum credit level required to apply for a loan, ensuring that individuals with varying credit scores can access the financial support they need.
  • Flexible Payment Plans. Simple Credit understands that everyone's financial situation is unique. Therefore, it offers flexible payment plans that allow customers to repay their loans comfortably. Whether it's weekly, bi-weekly, or monthly payments, Simple Credit works with customers to design a repayment schedule that fits their budget and lifestyle.
  • Paper-Free Process. In line with modern convenience and environmental sustainability, Simple Credit offers a paper-free application and approval process. Customers can complete the entire loan application process online, from submitting their personal information to signing documents electronically. This streamlined approach not only saves time but also reduces the need for paper documentation, making the process more efficient and eco-friendly.

Pros and cons


Endorsement for Several Products Offered. Simple Credit provides a variety of financial products, including personal loans, mortgages, and credit cards, catering to a wide range of financial needs and preferences.

Quick Approval. Customers can benefit from fast approval processes, allowing them to access funds promptly when needed.

No Minimum Credit Level. Simple Credit welcomes individuals with all credit backgrounds, eliminating the barrier of minimum credit score requirements and ensuring that everyone has access to financial support.


Not a Direct Lender. Simple Credit acts as a financial intermediary rather than a direct lender, which may result in additional steps or processes in loan transactions.

Limited Personal Loan Amounts. While Simple Credit offers personal loans, the maximum amount available is up to $1,500, which may not be sufficient for individuals with larger financial needs.

Annual Fees May Apply. Depending on the specific product or service, customers may encounter annual fees, which could add to the overall cost of borrowing or managing finances with Simple Credit.


Simple Credit appears to be reliable based on its Trustpilot rating of 4.6 out of 5. Trustpilot is a platform where customers can share their experiences and reviews about businesses, products, and services. A rating of 4.6 suggests that the majority of customers have had positive experiences with Simple Credit, indicating reliability and satisfaction with their services.

How to apply for Simple Credit services

  1. Go to the Simple Credit Website. Navigate to the official website of Simple Credit using your preferred web browser.

  2. Click "Start My Application". Look for the option or button labeled "Start My Application" on the homepage or designated landing page of the website, and click on it to begin the application process.

  3. Enter Your Personal Information. On the application form, you'll be prompted to enter your personal details, including your full name, phone number, province of residence, email address, and preferred language for communication. Fill in all the required fields accurately.

  4. Click "Continue". Once you've entered your personal information, click on the "Continue" button to proceed to the next step of the application process.

  5. Enter Your Address. In this step, you'll need to provide your current residential address. Input your complete address, including street name, city or town, province, and postal code, as requested on the application form.

  6. Enter Your Revenue Information. Simple Credit may require information about your income or revenue to assess your financial capacity for the loan. Provide accurate details regarding your income, such as your employment status, monthly income, and any additional sources of revenue if applicable.

  7. Click "Complete". After filling in all the required fields and providing the necessary information, review your application to ensure accuracy and completeness. Once you're satisfied that all details are correct, click on the "Complete" or "Submit" button to finalize your application.


  • Loan Amount. Simple Credit offers personal loans ranging from $300 to $1,500, providing customers with flexibility to borrow according to their needs.

  • Interest Rate. The interest rate offered by one of Simple Credit's lenders can be as low as 8.95%. For example, for a 3-month term, the interest rate could be as low as 2.24%.

  • Repayment Term. Simple Credit provides a repayment plan that allows customers to repay their loans over a period of 3 to 6 months. This flexible repayment option enables borrowers to manage their finances effectively and make payments comfortably over time.


  • Age. To qualify for a loan with Simple Credit, applicants must be at least 18 years old, ensuring that they are legally considered adults and able to enter into financial agreements.

  • Income. Simple Credit requires applicants to have a steady source of income, which could include employment income, pension payments, or other forms of recurring earnings. This requirement helps assess the applicant's ability to repay the loan.

  • Canadian Residency. Simple Credit extends its services exclusively to residents of Canada, ensuring that applicants are legally eligible to apply for loans within the country's regulatory framework.

  • No Bankruptcy or Submitting a Consumer Proposal. Applicants must not be undergoing bankruptcy proceedings or in the process of submitting a consumer proposal. This requirement helps mitigate financial risks and ensures responsible lending practices.

Ways to receive the money

Upon signing your contract with the lender, you can receive the borrowed amount from Simple Credit through their Interac Express service, ensuring swift delivery of funds. With this service, you may obtain your personal loan in less than one hour, expediting access to the funds you need. However, for regular deposits, the process may take from 24 to 48 hours, depending on various factors. It's important to note that conditions for fund disbursement may vary depending on the specific product or service you've chosen.


  • Personal Loan. Providing individuals with access to funds ranging from $300 to $1,500, Simple Credit's personal loans offer flexibility and convenience for managing expenses or unforeseen financial obligations.

  • Mortgage. Simple Credit assists customers in securing mortgage financing for purchasing or refinancing residential properties, helping individuals achieve their homeownership goals.

  • Debt Consolidation. With Simple Credit's debt consolidation services, individuals can combine multiple debts into a single loan, simplifying repayment and potentially reducing overall interest costs.

  • Credit Card. Simple Credit offers credit cards to eligible customers, providing a convenient payment method for everyday expenses and offering additional benefits such as rewards or cashback programs.

  • Student Loan. Simple Credit provides student loans to support individuals pursuing higher education, covering tuition fees, living expenses, and other educational costs.

Reasons you may be denied Simple Credit services

  • Bankruptcy or Consumer Proposal. If you're currently in the process of filing for bankruptcy or a consumer proposal, your application for a Simple Credit loan may be denied.
  • Multiple NSF Payments. Accumulating several Non-Sufficient Funds (NSF) payments in recent months could lead to denial of your loan application.
  • High Debt Load. A significant debt burden may affect your ability to repay a loan and could result in denial of your application.
  • Incomplete, Erroneous, or Fraudulent Information. Providing incomplete, inaccurate, or fraudulent documents or information may lead to denial of your loan application as Simple Credit prioritizes accuracy and integrity in the application process.


  1. Access Your Account. Sign in to your account on their website using your credentials and password.

  2. Navigate to the Payment Section. Once logged in, locate the payment section or option within your account dashboard.

  3. Select Payment Method. Choose your preferred payment method from the available options, which may include bank transfer, debit card, or automatic withdrawal.

  4. Enter Payment Details. Enter the necessary details for your payment, including the amount you wish to pay and the date you'd like the payment to be processed.

  5. Submit Payment. Review the payment details to ensure accuracy, then submit your payment. Once the payment is processed, you'll receive confirmation of the transaction, and your loan balance will be updated accordingly.

Editorial opinion

Simple Credit has emerged as a notable player in the financial services industry, offering a range of products and services tailored to meet the diverse needs of consumers. With its emphasis on accessibility and flexibility, Simple Credit provides individuals with options for personal loans, mortgages, debt consolidation, credit cards, and student loans, among others. While the company boasts quick approval processes and no minimum credit level requirements, it's essential for consumers to carefully consider the terms and conditions of their agreements. Additionally, the reliance on third-party lenders and the potential for annual fees may warrant scrutiny. Nonetheless, Simple Credit's commitment to providing convenient and accessible financial solutions across Canada remains evident, making it a noteworthy option for those seeking financial assistance.


Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. Verify that the lender is registered with the appropriate regulatory authorities in Canada, such as the Financial Consumer Agency of Canada (FCAC), or is licensed to operate in your province.
  2. Check if the lender is a member of reputable industry associations in Canada, such as the Canadian Bankers Association (CBA) or the Canadian Lenders Association (CLA).
  3. Thoroughly review all terms and conditions outlined in your loan agreement. Understand the repayment schedule, interest rates, fees, and any penalties for late payments or defaults.
  4. Ensure that the contract clearly states the annual percentage rate (APR) and the total cost of borrowing, including any administrative fees or additional charges.
  5. Familiarize yourself with your rights regarding loan cancellation or early repayment. Canadian consumers have the right to cancel a loan within two business days after signing the agreement, without penalty.
  6. Research the lender's reputation by checking customer reviews, complaints, and feedback on reputable online platforms, as well as through resources provided by organizations like the Better Business Bureau (BBB).


At Finanso, we've carried out a comprehensive analysis of over 70 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional resources

  • Simple Credit Customer Reviews



What is Simple Credit?

Simple Credit is a financial service provider offering various products such as personal loans, mortgages, debt consolidation, credit cards, and student loans. It aims to provide accessible and flexible financial solutions to individuals in Canada.

How quickly the funds can be received?

The funds from Simple Credit can be received quickly through their Interac Express service, which allows for loan disbursement in less than an hour after signing the contract with the lender. However, regular deposits may take 24 to 48 hours.

How do you qualify for Simple Credit?

To qualify for Simple Credit, individuals need to meet certain criteria, including being at least 18 years old, having a recurring base income, being a Canadian resident, and not being in the process of filing for bankruptcy or submitting a consumer proposal.

How much can you borrow from Simple Credit?

Simple Credit offers personal loans ranging from $300 to $1,500, providing individuals with flexibility in borrowing according to their needs and financial situation.

Is Simple Credit a legitimate company?

Yes, Simple Credit is a legitimate company that operates within the regulatory framework of Canada's financial services industry. It provides transparent services and adheres to legal standards to ensure customer trust and compliance with regulations.

Our mission is to help, advise and educate Canadian citizens about their personal finances and to improve their financial situation by offering flexible and tailored credit endorsement products.

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