In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
Finder makes money from featured partners, but editorial opinions are our own.

Credit Club review: Online payday lender

  • Avatar
Credit Club Payday Loans
Interest Rate
Varies by province
Loan Amount
$100 - $1,500
Loan Term
Up to 62 days
Turnaround Time
30 minutes
Serviced Provinces
ON, BC and NS
All information about Credit Club Payday Loans has been collected independently by Finder. Finder is not connected with Credit Club products, and this page is not sponsored, endorsed or administered by, or associated with, Credit Club. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Apply online for a loan 24/7 and get your funds in as little as 30 minutes.

Credit Club offers payday loans in ON, BC and NS. It's quick and easy to apply, and you won't need to complete a credit check. Loans of up to $1,500 are available, but new customers can only borrow $100. You'll also need to review the cost of borrowing before you apply.

Pros

  • Apply 24/7
  • Get money within minutes
  • Automated system for loan approvals on weekends and holidays

Cons

  • Payday loans are expensive
  • Short repayment terms
  • New customers limited to $100

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What is Credit Club?

Credit Club is a licensed payday lender in ON, BC and NS. It has offices in Quebec and Ottawa, and it offers online payday loans.

You can apply for a loan with Credit Club 24 hours a day, seven days a week. If you apply on a holiday or weekend, it has an automated system in place to process applications.

If you’re approved, funds can be sent to your account by email money transfer in as little as 30 minutes.

Is Credit Club legit?

Yes. Established in 2012, Credit Club is licensed to provide payday loans in Ontario, British Columbia and Nova Scotia:

  • Its Ontario lender licence number is 4726568.
  • Its British Columbia lender licence number is 64068.
  • Its Nova Scotia permit number is 222985929.

You can view Credit Club’s licence certificates in all three provinces on its website.

Features of Credit Club payday loans

FeatureDetails
Loan amountUp to $1,500 ($100 for new customers)
Loan termUp to 62 days
Where it’s availableON, BC and NS
Interest rate
  • Ontario: $15 for every $100 borrowed
  • BC: $15 for every $100 borrowed
  • Nova Scotia: $17 for every $100 borrowed
FeesIf you default on your loan, you may be charged NSF fees and late fees
Basic eligibility requirements
  • Must be at least 18 years old
  • Must have been employed for at least three months with the same employer

What we like about Credit Club loans

  • Apply 24/7. You can apply for a Credit Club loan at any time, even outside of normal business hours. Learn more about e-Transfer payday loans 24/7.
  • Get money in minutes. Credit Club says it funds loans in as little as 30 minutes, which is handy if you need urgent access to cash.
  • Automated loan approvals. If you apply on a public holiday or weekend, your loan application may be processed by Credit Club’s automated approval system, which can provide a response within an hour.
  • Mobile app available. The Credit Club smartphone app is available from Google Play and Apple’s App Store.
  • No credit checks. Credit Club doesn’t conduct any credit checks when processing your application. Instead, it assesses your income and ability to pay back what you borrow.

What to watch out for

  • $100 loan limit for new customers. While loans of up to $1,500 are available, the maximum amount new customers can borrow is $100.
  • High cost of borrowing. Payday loans are extremely expensive with annual percentage rates (APRs) in the triple digits.
  • Short loan terms. Credit Club says its loans are usually due to be repaid on your next payday or 14 days after the loan amount is deposited into your account. Short repayment terms can make it easy to get trapped in a cycle of debt, so consider your financial situation carefully before you apply.
  • Not staffed on weekends and holidays. If you apply on a holiday or weekend and your application requires manual processing – for example, if you need to provide additional information, you’ll need to wait for your application to be processed on the next business day.

Compare Credit Club to other payday lenders

⚠️ Warning: Be cautious with payday loans
High-cost payday loans are unsustainable for borrowing over a continued period of time and are expensive as a means of longer-term borrowing. View payday costs and regulations by province here. If you're experiencing financial hardship call Credit Counselling Canada for free financial counselling (Monday-Friday 8:00am-5:00pm at +1 866-398-5999). You may also want to consider payday loan alternatives.
1 - 3 of 3
Name Product Loan Amount Loan Term Interest Rate Turnaround Time Serviced Provinces Offer Table description
iCash Payday Loan
$100 - $1,500
7 - 62 days
Varies by province
As little as 2 minutes with INTERAC e-Transfer®
AB, BC, MB, NB, NS, ON, PEI
Get up to 20% in cash back once your payday loan is fully repaid. Conditions apply.
Same day cash up to $1,500 for car payments, rent, mortgage, home & appliance repair, and more. 24/7 instant approval and e-Transfer funding. Income of at least $800/month required.
Money Mart Payday Loan
$120 - $1,500
1 - 62 days
Varies by province
As little as 1 hour after getting approved
AB, BC, MB, NS, NT, ON, SK, YT
To be eligible, you’ll need to be at least 18 years of age with a steady source of income and a chequing account. No credit check required.
Cash Money Payday Loan
$100 - $1,500
5 - 40 days
Varies by province
As little as 15 minutes with INTERAC e-Transfer®
BC, MB, NL, NS, ON, SK
Apply for your first $300 payday loan at a $20 cost (excludes SK applicants).
Instant decision and e-Transfer funding. Income of at least $1,000/month required.
loading
Maximum borrowing costs of payday loans per province
Always refer to your contract for exact repayment amounts and costs.
Province Max. cost of borrowing a $100 payday loan Cooling off period to cancel loan Max. penalty for returned cheque or pre-authorized debit
Alberta $15 2 business days $25
British Columbia $15 2 business days $20
Manitoba $17 48 hours excluding Sundays and holidays $20
New Brunswick $15 48 hours excluding Sundays and holidays $20
Newfoundland and Labrador $14 2 business days $20
Nova Scotia $17 Next business day (2 days for online loans) $40 (default penalty)
Ontario $15 2 business days $25
Prince Edward Island $15 2 business days N/A
Quebec Limit of 35% AIR N/A N/A
Saskatchewan $17 Next business day $25

Summary of Credit Club reviews

Customer reviews of Credit Club are generally positive. Many reviewers praise the lender for its easy application process and fast turnaround time.

FeatureDetails
BBB accreditedNo
BBB ratingA+
BBB customer reviewsN/A
Trustpilot score4.7 out of 5 from 2,098 reviews
Customer reviews verified as ofFebruary 15, 2023

How much can I borrow with a Credit Club loan?

The maximum loan amount is $1,500, but this amount is only available to Credit Club members. If you’re a new customer, you can only borrow up to $100.

What are the Credit Club loan requirements?

You’ll need to satisfy the following criteria to qualify for Credit Club loans:

  • Have an active chequing account in your name.
  • Be at least 18 years of age.
  • Be currently employed for at least three months with the same employer.
  • Be a resident of ON, BC and NS.
  • Have a valid email address and working phone number.

Required documents

Credit Club does not require any documents. However, it will use the information on your application to verify your identity, bank account details and income.

Can I get a Credit Club loan with bad credit?

Yes. Credit Club does not conduct a credit check when assessing your loan application. The lender will instead focus on your employment and income details to determine whether you have a steady source of income and can afford to repay your desired loan amount.

Dive deeper Best bad credit loans

How do I apply for a Credit Club loan?

You can apply for a Credit Club loan by clicking the “Apply Online” link on the lender’s website. This will take you to an online application form where you’ll need to provide:

  • Your requested loan amount.
  • Your name, address, contact details, date of birth and SIN.
  • Your employment and payroll information, including your employer’s name and contact details as well as how often and much you get paid.
  • Your bank account details.

If you submit your application, within business hours, you can expect to receive a decision within an hour.

Bottom line

If you’re thinking of taking out a payday loan, Credit Club is well worth considering. However, keep in mind that a payday loan should only ever be a last resort – consider a range of payday loan alternatives first.

You might also be interested in...

Frequently asked questions

Your reviews

No reviews yet. Write a review
Go to site