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Easy Financial creditplus loan review 

Bad credit or no credit history at all? Easy Financial creditplus loan helps you build up your savings and improve on your credit score so you can secure a loan.

To be eligible for an Easy Financial creditplus loan, you must be employed with a stable source of income. You must not be bankrupt or in credit counselling, and you must not have an existing or unpaid Easy Financial loan.

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Max. Loan Amount


Product NameEasy Financial creditplus loan
Benefit DescriptionEasy Financial can start you with a $1,000 loan following a successful run with your creditplus savings loan.
Min. Loan Amount$1,500
Max. Loan Amount$3,000
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Please note: All information about Easy Financial creditplus loan has been collected independently by Finder and this product is not available through this site.

If you have bad credit or no credit history at all, qualifying for a loan can seem impossible. With Easy Financial‘s creditplus savings loan, you can prioritize saving and rebuilding your credit score so that within six months’ time you’re guaranteed a personal loan.

30-second take

  • Think of an Easy Financial creditplus loan if you want to secure a loan but you aren’t qualifying because you have bad credit or no credit history at all.
  • Pick something else if you can qualify for other loans, whether they’re secured, unsecured or installment loans. With this product, you will need to make payments for six months before qualifying for an Easy Financial loan.
  • While Easy Financial offers online applications for its other loan products, you must apply over the phone or in person for the creditplus loan.

What makes Easy Financial‘s creditplus loans unique?

Easy Financial‘s creditplus savings loan is a niche product to help people with no credit history or bad credit to rebuild their credit score so they can qualify for an Easy Financial loan, or another lender’s loan, within a few months.

While you aren’t taking out a “loan” and borrowing money to start with, you’re committing to making monthly payments on time to prepare you for the responsibilities of managing debt while showing creditors you can stay on top of your debt repayments. Ultimately, it’s a useful resource to help people build up their credit history so they can apply for loans in just a few months’ time.

You can apply for the creditplus savings loan regardless of how low your credit score is, and even if you don’t have any credit history at all.

Flexibility is a priority point for Easy Financial. You can apply over the phone or in person at over 370 branch locations for a creditplus loan.

What is an Easy Financial creditplus savings loan?

The Easy Financial creditplus savings loan is a way to jumpstart your credit history so that you can successfully qualify for a loan in a few months’ time.

In a nutshell, you start by opening a creditplus savings loan of $1,500 or $3,000. You must make payments for this loan either weekly, bi-weekly or monthly, depending on your personal preferences. You must contribute at least $28 per month up to $40 per month for up to two years towards this savings loan. An interest rate between 9.5% to 9.9% is worked into your payments. Your interest rate is dependent on your loan amount and Easy Financial‘s assessment of your credit profile.

Every month, as long as you stay on top of your monthly payments, Easy Financial will report your loan as paid on time to Canada’s two credit bureaus. Within three to six months, your credit score will be boosted up, allowing you to apply and qualify for an Easy Financial loan.

Once you’ve hit your $1,500 or $3,000 savings threshold, or you’ve decided you’ve made enough monthly payments to improve your credit score, you can contact Easy Financial to request a refund for your savings deposits. The cash you’ve saved up will be returned to you in a direct deposit to a banking account of your choice. You can use this savings pot for any financial goals, including debt repayments on a new loan or towards a down payment for a car or home loan.

Easy Financial guarantees a $1,000 loan after the first 6 or 12 months of on-time payments on your creditplus savings loan, regardless of where your credit score stands. If you had a credit score on the cusp of moving into the “good” category and your dedication to monthly payments moves you into the higher category, you may even qualify for Easy Financial‘s secured and unsecured loan products, which allow you to borrow between $15,000 to $50,000. The interest rates for these loans range from 14.99% to 29.99%.

However, if you’re working your way up from a bad credit or no credit situation, Easy Financial can start you with a $1,000 loan following a successful run with your creditplus savings loan.

What are the benefits of an Easy Financial creditplus loan?

While Easy Financial offers a slate of loan products, its creditplus loan is unique and comes with some key benefits:

  • Anyone can apply. Whether you have bad credit or no credit history at all, Easy Financial can approve you for a creditplus loan.
  • Opportunity to rebuild credit. Starting off with a creditplus loan and committing to staying on top of payments is a great way to rebuild your credit and prove to creditors that you’re a responsible borrower.
  • Guaranteed $1,000 loan after 6 to 12 months. Regardless of the state of your credit score to begin with, Easy Financial is guaranteeing a loan of $1,000 to people who open a creditplus loan and keep up with their monthly payments for six months to a year.
  • Accumulating savings. While you chip away at improving your credit score, you’re also building savings via your monthly payments towards your creditplus loan. When you’re ready to, you can simply contact Easy Financial to request a refund on all of your payments and apply the cash towards your financial goals.
  • Potential to qualify for secured and unsecured loans. Depending on how much you’ve improved your credit score with your creditplus loan, you may even qualify for Easy Financial secured or unsecured loans that are between $15,000 and $50,000. With a strong credit score, you can also apply to work with other lenders.
  • Repayment options. You can structure your loan in a way that supports weekly, bi-weekly, monthly or bi-monthly repayments.
  • You have the option for in-person interactions. You can apply for a creditplus loan in person at over 370 locations or over the phone on 1-888-502-EASY (3279).
  • Available across Canada. You can apply for an Easy Financial loan in all 10 provinces and 3 territories.

What to watch out for

The creditplus account is a plum opportunity to kickstart your credit history or improve on your credit if it’s in bad shape, but there are some red flags to watch out for:

  • Potential for steep interest rates. Once you show you can keep up with debt repayments via your creditplus account, you may qualify for an Easy Financial loan of at least $1,000. But the interest rates will vary from as low as 14.99% up to a whopping 29.99%. Take stock of how much you may be paying in interest for your subsequent loan.
  • Potential for additional charges. While applying for an Easy Financial creditplus loan is free, you may come across administrative charges, or non-sufficient funds, late or missed payment fees.
  • It takes time. To be clear, the creditplus loan doesn’t provide you with financing upfront. First, you need to pay your dues and make monthly payments to rebuild your credit score. Once you’ve proven you can responsibly manage a loan, you may qualify for an Easy Financial loan.
  • No online applications. While you can apply for Easy Financial secured and unsecured loans online, you can only apply for a creditplus loan in person or over the phone.

Am I eligible?

To be eligible for an Easy Financial secured loan, you need to:

  • Be a Canadian citizen.
  • Meet the minimum age requirement, which varies from province to province.
  • Be able to demonstrate an ability to make repayments, with a steady income of at least $1,200 per month.
  • Not be bankrupt or in credit counselling, and you must not have an existing loan with Easy Financial or have had a previous Easy Financial loan that was not fully repaid.

After you apply for a loan, you will need to verify your identity and application details. You may be asked to provide:

  • Government-issued ID that is proof that you’re of the legal age in your province or territory.
  • Proof of your employment status and monthly income (via pay stubs or bank statements).
  • A valid Canadian identification card to confirm your identity, your address and phone number.
  • An active Canadian banking account with direct deposit capability.
  • A void cheque or pre-authorized debit form.

How do I apply?

If you’re ready to apply for an Easy Financial loan, simply visit one of its 370+ locations across Canada. You can also connect with an Easy Financial expert on the phone on 1-888-502-EASY (3279) to go through the application process.

Make sure you understand how the loan works, and decide on whether you’d like to sign up for a $1,500 loan or $3,000 loan. This is the “loan” you’ll be making weekly, bi-weekly or monthly payments for.

Prepare to be asked about your credit score, your employment status and gross monthly income.

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I got the Easy Financial creditplus loan. Now what?

Once you’re set up with an Easy Financial creditplus loan, the fun starts. While you aren’t receiving funding, you get a clean slate to rebuild your credit with this “loan” and show Easy Financial you can make debt repayments on time. Whether you’ve decided on weekly, bi-weekly or monthly payments, make sure you have sufficient funds in your account to cover off this expense.

After three months of committing to this loan repayment, you should see your credit score improve. Stick with it – Easy Financial says it will guarantee you a loan of $1,000 after you cross the 6- to 12-month mark.

When you’re ready to, you can also contact Easy Financial to request a refund on your monthly savings deposits. While you’re whittling away at improving your credit score, you can think carefully about what you want to do with this pot of money you’ve been saving.

Bottom line

If you have bad credit or no credit history at all, you need to start somewhere with rebuilding your credit score. This is where a product like the Easy Financial creditplus loan comes in.

Creditplus helps you simultaneously work towards two big financial goals: improving your credit score and saving up for the future. Whether your credit score is in dire straits or it just needs a boost, the creditplus loan is a great opportunity to take the first step to rebuilding your credit. In as soon as six months, you’re even guaranteed a $1,000 loan as long as you make all of your payments on time.

Once you’ve rebuilt your credit score and qualifying for a loan is a possibility, make sure you shop around and compare your loan options to make sure you’re getting the lowest interest rates and best terms to fit your needs.

You can also consider the wider range of personal loan options available to you.

Frequently asked questions

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