I was curious and called them. Apparently it's $0.89 cents per hundered borrowed per week. Depending on your credit score from equifax you will either qualify for a $250 loan or a $500 loan and have to pay it back $50 bi-weekly. Sure, it's still expensive but at least it's adding positive credit to your credit report.

I'd be interested to see if anyone has received one of these loans.

Oh I've no doubt it's rather high, it's money mart not the salvation army after all.

Still curious if this product is offered anywhere else or if someone has actually tried it.

Hey Vitzbitz,

Please check the interest rates with this new money mart product.
They're usually very expensive.

Are you willing to pay the exhorbitant rates to regain your credit rating?

Thanks for the info. By the way, I have never heard of this before.

My apologies,

Seen at the Hespeler Road (Cambridge, Ontario) Money Mart location, their number is 519-624-9191.

Hi,

What province was this in? Also, what's the phone number?

Has anyone heard of this product before?

I drove past a billboard outside a moneymart that was advertising it and phoned the number. Speaking with the representative they told me that the loans are for between $250-500, with payments of $50 every two weeks. The selling feature of these small loans is that they are reported to Equifax and Transunion as loans, and generate an I1 entry on your credit report.

I'd be more interested in the product for the positive entry on my credit report than the money, but CANNOT find a single reference to this product on the money mart website or through google AT ALL.

I'm always a little leery of credit repair "opportunties" as they typically entail massive interest, and was wondering if anyone else had actually used this product or even heard of it?