Mogo empowers Canadians with simple solutions to help them improve their financial health and live more sustainably.
It is a platform for alternative finance that offers a variety of financial solutions. They want to help Canadians take control of their finances by providing a wide range of financial tools to help them get through life’s most challenging situations.
You can sign up for a free account through the mobile app or on the web in just 3 minutes.
Check out this review to learn more about Mogo* Financial.
What is Mogo Financial?
Mogo* Financial is one of Canada’s famous alternative lenders. It is a reliable source of financing for many Canadians and residents who need money for unexpected expenses. That’s not all, Mogo provides various simple-to-use financial products, including:
- personal loans up to $35,000,
- free credit score monitoring,
- mortgage loans,
- identity theft protection,
- MogoCard and,
- MogoCrypto.
Types of Mogo loans and credits
It is undeniable that private lenders have become very popular in Canada in recent years. Various private lenders have emerged as an alternative to traditional bank loans. With so many options available, it’s harder than ever to choose the right vendor. So what does Mogo Financial offer, and is it the right financial institution for your needs? Let’s take a look.
1. Personal loans
One of Mogo’s main products is MogoMoney, an unsecured personal loan that allows customers to borrow between $500 and $35,000.
In fact, current users can receive an offer in less than three minutes. Once Mogo approves the loan, users can use the app to check their balance, manage their payments, and even get more credit if they have a relationship with the company and make regular payments. Whether you have good or bad credit, a Mogo loan is designed to help you get out of debt faster. In only 3 minutes, you may get a no-obligation loan pre-approval without hurting your credit score.
2. Mortgage loans
MogoMortgage is for first time home buyers or Canadians looking to refinance an existing mortgage and want to get great interest rates.
As with all Mogo products, there is an easy-to-use dashboard where users can monitor all aspects of their mortgage, including progress, outstanding balances, and payments. It’s designed to help and motivate users to pay off their mortgage faster and save money in the long run
Consumers can choose from several offers with a quick application (which also benefits from a free credit scoring service).
Mogo Free Credit Score
Mogo’s most notable feature is its free credit score checking. With Mogo’s free credit check, users can track their credit scores regularly. This real time monitoring can help users understand how to enhance their credit score. (See also: 5 Ways To Build And Increase Your Credit Score).
MogoProtect
MogoProtect helps to protect your identity against fraud by notifying you when Equifax performs a fresh hard credit check on your account. You will receive an email and a push notice with instructions on what to do.
MogoCard
Mogo also has a Mogo Visa Platinum Prepaid Cards, popularly known as MogoCard. You can load up to $10,000 on the card and attach it to your bank account to make transactions go more smoothly. The good news is that there are no monthly or loading fees for using the MogoCard. (See also: 5 Reasons Why You Need A Prepaid Card).
MogoCrypto
MogoCrypto is one of the simplest methods to start trading crypto in Canada. With the Mogo app, you can buy bitcoin with a single mouse click. However, you will be charged a service fee of 1% when you use the app to trade.
In conclusion
It doesn’t take much to achieve financial freedom. Mogo enhances your life by providing you with the tools to manage your finances, monitor your credit, safeguard your identity, and more. With Mogo on your side, you’ll be able to improve your financial health.