iCash vs Mogo
A detailed side-by-side comparison of two popular Canadian lenders. See how they stack up on rates, loan amounts, eligibility, and overall experience.
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
Full Review →Side-by-Side Comparison
| Feature | iCash | Mogo |
|---|---|---|
| Loan Amounts | Up to $1,500 | Up to $5,000 (MogoMini line of credit) |
| Interest Rates | $14 per $100 borrowed (where applicable) | Up to 34.37% APR |
| Loan Terms | Up to 62 days | Revolving (line of credit) |
| Credit Required | No minimum credit score | Fair credit and above |
| Funding Speed | Same day (Interac e-Transfer) | Pre-approval in 3 minutes |
| Headquarters | Montreal, Quebec | Vancouver, British Columbia |
| Founded | 2006 | 2003 |
| Best For | Emergency borrowers who need small amounts fast with any credit score | Tech-savvy borrowers who want a flexible line of credit with free credit monitoring |
Loan Amounts
iCash
Up to $1,500
Mogo
Up to $5,000 (MogoMini line of credit)
Interest Rates
iCash
$14 per $100 borrowed (where applicable)
Mogo
Up to 34.37% APR
Loan Terms
iCash
Up to 62 days
Mogo
Revolving (line of credit)
Credit Required
iCash
No minimum credit score
Mogo
Fair credit and above
Funding Speed
iCash
Same day (Interac e-Transfer)
Mogo
Pre-approval in 3 minutes
Headquarters
iCash
Montreal, Quebec
Mogo
Vancouver, British Columbia
Founded
iCash
2006
Mogo
2003
Best For
iCash
Emergency borrowers who need small amounts fast with any credit score
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
Pros & Cons
iCash
Pros
- No minimum credit score requirement
- Same-day funding via Interac e-Transfer
- Simple online application — no documents needed upfront
- Trust Rating System rewards returning borrowers with higher limits
Cons
- Maximum loan amount is only $1,500
- High cost of borrowing compared to traditional loans
- Short repayment terms (up to 62 days)
Mogo
Pros
- Free credit score monitoring for all users
- Line of credit flexibility — borrow only what you need
- 100-day trial period to test the product
- Fully digital experience with no branch visits needed
Cons
- Maximum borrowing limit of $5,000
- Interest rate up to 34.37% APR
- Line of credit format may encourage ongoing borrowing
Which Lender Should You Choose?
Choose iCash if you're looking for a lender that specializes in emergency borrowers who need small amounts fast with any credit score. They offer loan amounts of Up to $1,500 with funding as fast as same day (interac e-transfer).
Choose Mogo if you're better described as tech-savvy borrowers who want a flexible line of credit with free credit monitoring. They offer Up to $5,000 (MogoMini line of credit) with fair credit and above credit requirements.
Still unsure? Apply through 365 Loans to compare offers from both lenders and more — with no impact on your credit score.
Frequently Asked Questions
Is iCash or Mogo better?
It depends on your needs. iCash is rated 3.5/5 and is best for emergency borrowers who need small amounts fast with any credit score. Mogo is rated 3.7/5 and is best for tech-savvy borrowers who want a flexible line of credit with free credit monitoring.
Which has lower interest rates?
iCash charges $14 per $100 borrowed (where applicable), while Mogo charges Up to 34.37% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
iCash: Same day (Interac e-Transfer). Mogo: Pre-approval in 3 minutes.
Other Lender Comparisons
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