Mogo is a quick money lending platform based in Toronto. The company is known to have a clientele of over 900k users. This alone makes it one of the most sorts after money lending platforms in Canada.

In this article, we're going to discuss extensively mogo loans and how they work. I'll try to explain how you can go about securing your first loan using Mogo.

Before I dive straight into how you can get your first loan with Mogo, let us look at some of the important things about  Mogo as a company and a financial service provider.

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What Is Mogo Loan? ( An Overview Of Mogo Money Lending Company)

Mogo can be addressed as an alternative finance platform that provides alternative financial products to its customers in Canada.

Over the years, mogo has grown popular in Canada due to the mogo credit score service that allows customers to check their credit score so easily and almost instantly without having to pay any fee, or experiencing any negative impact on their score as a result of checking their score.

As a Canadian company and financial service provider with an office based in  Vancouver, British Columbia. The company has offered services to over 1.6 million customers since 2003 when it was founded. The company also has offices in surrey, Vancouver, and Winnipeg.

At the time of writing this article, mogo provides different variety of services that are dedicated to helping the average person prosper financially.

What Are The Features Of Mogo?

Mogo has different amazing features that will make you fall in love with the money-lending app. Below are some of its major features:

  • An easily adjustable interest rate and repayment.
  • Mogo loans are easy to access and the processing of the loans their loans is very swift and fast.
  • The fees for Mogo loans are not made available even the loan's initial price
  • The fees on the Mogo app are on the high side if you intend to borrow a very large amount of money as an individual in Canada.

What Are The Products Available At Mogo?

As a user of mogo digital financial service, there are amazing and exciting products you can use. Below are some of these products

  • Free Credit Score Checker
  • Identity Fraud Protection
  • Visa Platinum Prepaid Card
  • Personal Loans
  • Mortgages
  • Robo-Advisor
  • Cryptocurrency Exchange

Since the acquisition of Moka a micro-investing app formerly known as Mylo, as a user of mogo, you can go ahead and sign up for all the services mentioned above by visiting the official website of Mogo.

Before i go deep, let me talk about the services I mentioned above so that you can have a clear picture of what you're about to get when you start using Mogo.

Mogo Free Credit Score Checker

I believe you already know what a credit score is and how it works, just in case you're not familiar with that term. A credit score is a mathematical algorithm that lenders use to determine your creditworthiness before giving you a loan. If your credit score is not enough, the lender might tag your profile as a high-risk profile, which means you might not get the loan offer.

In other to know your credit score, mogo is offer a free service where you can easily check your credit score online or through their mobile app without having to pay any fee. 

This credit score checker has some amazing features. some of which are:

Instant score: Receive your credit score in as little as three minutes either online or through the mobile app

  • Mobile app: Access your credit score, along with other products and services, directly from your phone
  • Soft Check: This type of credit check will not impact your credit score
  • Regular Monitoring: Receive monthly updates on your credit score via the Mogo dashboard
  • Tips and Tricks: Learn how to level up your credit score with proven advice from Mogo experts
  • Trustworthy Sources: Mogo pulls your credit score from Equifax, the largest credit bureau in Canada
  • Win $200: The Mogo member with the most improved credit score each month wins $200.

One thing I find amazing about the mogo free credit score checker is the nonnegative impact it has on your credit score unlike some other credit score checkers out there. All of this happens because mogo only performs a soft credit check.

Mogo Identity Fraud Prevention

Mogo is actively working hard to always improve its products, and one which they take pretty seriously is identity fraud prevention. With Mogoprotect credit identity fraud protection, you can rest assured that mogo is monitoring your credit profile to ensure it kicks out any form of threat to your identity. The number of fraudsters trying to sabotage people's identities to apply fro products such as loans is increasing every day, and this alone is a major reason to be concerned.

What mogo does is that, when you apply for any form of credit, financial institutions will perform a hard credit inquiry. MogoProtect automatically flags and notifies you of any hard credit checks to your file within 24 hours.

In the event that didn’t initiate the hard inquiry, Mogo will guide you through the appropriate steps to stop the criminal activity.

Mogo Visa Platinum Prepaid Card

The mogo visa platinum prepaid card is also another great product owned by mogo. The card is not a credit card, it is a pre-paid debit card that is reloadable with cash. Whenever you want to shop online, you can go ahead and load the card with your desired amount.

Mogo Personal Loan

The mogo personal loan was our major area of concentration in this article, which I will talk about later extensively. The product allows you to take personal loans to solve any of your current financial predicaments.

Mogo Mortgage

As the name implies, it is a product that allows mogo to take care of your mortgage needs when you apply through your dashboard. All of the mortgages are not provided by mogo but through your mogo account, you can easily get connected with a market-leading lender that will help you through your entire application process.

When you take out a mortgage or refinance through Mogo, you’ll be eligible for up to $3,100 cashback in your rewards account.

How To Unlock $100 to $35,000 Without Collateral On Mogo

As a user of Mogo, you can unlock a loan amount from $100-$35,000 with an APR of 5.9% to 46.96%. 

Mogo loan is accessible to almost anyone no matter your credit score. They offer loans to individuals with bad credit scores with high interest.

To unlock your mogo loan offer, you need to meet certain eligibility criteria. Below are the criteria for a mogo loan

Mogo Loan Eligibility Criteria

You need to be a permanent resident of Ontario, British Columbia, Alberta, Manitoba, Prince Edward Island, Nova Scotia, Saskatchewan, Newfoundland & Labrador, New Brunswick, the Northwest Territories, and Nunavut and You must be 18 years and above.

How To Get A Mogo Loan

For you to get a loan from Mogo, the following must be observed:
  • Get a loan quote
  • Submit some personalized details to get a personalized loan quote in less than a minute.
  • Connect with a lending specialist
  • Once you're done, a lending specialist will get in touch with you to customize your loan details
  • Complete your loan application.
  • Gather the necessary documents and finalize your loan application online or in the branch, and you could have your money as soon as today.

Things Needed To Get A Loan From Mogo

  • A credit score within a certain range
  • Some form of credit history
  • A Canadian bank account
  • Proof of income / Steady employment
  • Canadian Residency
  • You must be 18+ years of age


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