What we do
Options Credit is an online payday loan service for Canadians. You fill in one application, and we match you with an independent payday lender licensed in your province. That lender reviews your application, makes the decision and, if you're approved, sends your loan by Interac e-Transfer.
We don't lend money ourselves, and we never charge you to apply. Our job is to make the process fast, the costs clear, and the lenders trustworthy.
Our story
We started in 2014, when getting a payday loan often meant faxing pay stubs and waiting a day or more for an answer. Over the past 12 years we've moved the whole process online and watched the rules change for the better, with the maximum cost falling from $21 per $100 in Ontario to today's national cap of $14.
What hasn't changed is our view that a payday loan is an emergency tool. We'd rather explain the real cost and point you to a cheaper alternative than see you borrow more than you need.
How we make money
When we connect you with a lender, that lender pays us a referral fee. You never pay us anything, and the fee doesn't change the cost of your loan, which is set by your lender within the legal limit of $14 per $100.
Our lender standards
Every lender we work with must:
- Hold a valid payday lender licence in each province where it lends
- Show the total cost in dollars and APR before you sign
- Honour your provincial right to cancel after signing
- Never charge more than $14 per $100 borrowed
- Never require insurance or an upfront payment
- Offer extended payment plans where provincial law requires them
If a lender falls short, we stop working with them. You can report a concern to us at any time through our contact page.
How we write and review content
Our guides are written for borrowers, not search engines. Every page is checked against the federal Criminal Interest Rate Regulations, provincial payday loan legislation, and guidance from the Financial Consumer Agency of Canada (FCAC). We review our content whenever the rules change and at least once a year, and every page shows the date it was last updated.
If you spot something out of date, email support@optionscredit.ca and we'll fix it.