Mogo's MogoMini Line of Credit is a flexible loan that lets you borrow between $300 and $5,000 with an interest rate of 34.37%. They offer an optional monthly subscription called the MogoMini Service Bundle for about $15.99-$16.99, which gives you perks like free email money transfers and skipping a payment twice a year. You might see billing from Mogo if you've signed up for this service bundle. The loan is managed entirely online through the Mogo app, making it easy to access cash and keep track of payments.
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Cancelling a subscription or membership with MogoMiniLine of Credit requires the user to chat online with a support representative during live chat hours. The process is somewhat straightforward but limited by the availability of live chat support and the need to log into the MogoAccount first.
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How to Cancel Ryker Foley MogoMiniLine of Credit: Step by Step
If you purchased through Mogo's website:
- Log in to your Mogo account on mogo.ca.
- Navigate to the "Subscription" section in your account settings.
- Select the subscription you wish to cancel.
- Click on the "Cancel Subscription" button.
- Follow the prompts to confirm your cancellation.
If you purchased through Apple:
- Open the Settings app on your iPhone or iPad.
- Tap on your name at the top, then select "Subscriptions"".
- Find and select your Mogo subscription.
- Tap "Cancel Subscription".
- Confirm the cancellation when prompted.
If you purchased through Google Play:
- Open the Google Play Store app.
- Tap on the menu icon and select "Subscriptions".
- Locate your Mogo subscription and tap on it.
- Tap "Cancel Subscription".
- Follow the prompts to confirm the cancellation.
Tips & Tricks for Canceling Ryker Foley MogoMiniLine of Credit
- Be persistent and clearly state your intent to cancel, using direct language like "I want to cancel my line of credit/account immediately."
- Call multiple times if necessary, as some users report success after repeated calls and escalation through different representatives.
- Use formal email communication to document your cancellation request in writing, increasing accountability.
- Escalate to a supervisor or manager if initial representatives are unhelpful or delay the cancellation process.
- Request confirmation of cancellation in writing to have proof of your request.
- Cancel before billing cycles or interest accrual to avoid unwanted charges.
- Be aware of timing—some users note success when canceling shortly after opening the credit line.
- Keep track of all communication records (dates, times, names of representatives) to support your case if disputes arise.
- Use the contact details prominently mentioned by users: Phone: 1-800-980-6646, Email: MogoCares@Mogo.ca.
- Prepare to be firm and patient as some cancellations might require persistence due to customer retention efforts.
Ryker Foley MogoMiniLine of Credit Customer Service Info
If you need assistance, here's how you can get in touch with Ryker Foley MogoMiniLine of Credit's support team.
Cancel Ryker Foley MogoMiniLine of Credit Script
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Hello,\n\nI hope this message finds you well. I am writing to request the cancellation of my subscription with the MogoMiniLine of Credit. Due to personal financial adjustments, I need to manage my expenses more effectively and, unfortunately, that means discontinuing my current subscription.\n\nPlease confirm the cancellation at your earliest convenience. Thank you for your understanding and assistance.\n\nBest regards,
Frequently Asked Questions
The MogoMini Line of Credit allows you to pay off your credit balance in full at any time with no penalty. If you're not satisfied within the first 100 days, you can repay your principal balance and receive a refund for any fees or interest already paid, effectively allowing you to cancel your line of credit without extra costs.
To cancel your MogoMini Line of Credit subscription at mogo.ca, you do need to be logged into your MogoAccount to chat online, which implies you need your password to access your account. You can initiate the cancellation by chatting with Mogo's support online and you must provide the email associated with your account. If you've forgotten your password, you can reset it here: https://helpcentre.mogo.ca/hc/en-us/articles/360042337694-Changing-or-resetting-my-password. Phone support is not currently offered for cancellations, and chat support requires account login.
- High interest rates: Mogo MiniLine of Credit has steep interest rates (approximately 34.36%) which are higher than traditional lenders.
- Poor customer service: Customers report poor service and difficulty in communication with Mogo's account team.
- Excessive fees: Additional charges such as a $19.99 email money transfer fee and $50 insufficient funds (NSF) fees.
- Multiple fees from failed withdrawals: Attempts to withdraw upon missed payments causing multiple NSF fees within a short time.
- Low borrowing limits: Maximum borrowing amount capped at $5,000, which may not suit some users' needs.
- Difficulty in repayment: Customers struggle to pay back the principal and establish reasonable payment plans.
- Predatory practices concerns: Reports of aggressive and borderline illegal practices in fee charging and collections.
- No in-person customer support: Lack of face-to-face interaction may frustrate some borrowers.
Mogo's Mini Line of Credit offers flexible terms allowing you to cancel and pay off your loan in full at any time without penalties. However, be aware that the interest rate is high (47.42% annually), and while you can cancel anytime, the agreement initially auto-renews yearly. There are no locks or early-cancellation fees, and if you repay your principal balance within the first 100 days, they will even refund any fees or interest paid, making it relatively user-friendly in terms of cancellation.
Before cancelling your Ryker Foley Mogo MiniLine of Credit, it's important to know that you will lose access to several key features if you are subscribed to the MogoMini Service Bundle. This bundle provides benefits like waived e-Transfer and insufficient funds fees, the ability to skip payments twice per year without penalties, priority funding for faster loan access, and leniency with default payments. Without this bundle or after cancellation, you'll be subject to additional fees and may lose flexible payment options, risking the loan being called due early and potential negative impacts on your credit score. Additionally, you would no longer have the protections offered with the Service Bundle, such as quick re-access to funds and certain default leniencies, which can be important for managing your financial health.
- Email address associated with your MogoAccount
- Full legal name (as used on your MogoAccount)
- Date of birth
- Current residential address (on file with Mogo)
- Registered phone number
- Reason for cancellation (may be requested by support)
- Outstanding balance: ensure your MogoMiniLine of Credit is paid off before closing
- Request for cancellation submitted via online chat support (required method)
We've actually written a step by step guide on how to get a refund from Ryker Foley MogoMiniLine of Credit. Check it out!
The Easiest Way to Cancel Ryker Foley MogoMiniLine of Credit
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What Are Some Alternatives to Ryker Foley MogoMiniLine of Credit?
MogoMini, MogoLine, Mogo Credit, Mogo LOC, Mogo Mini LOC, MogoLine Credit, Mogo Line Payment, MogoCredit Charge, Mogo Fee, Mogo Interest, Mogo Service Charge
Editorial Note: These articles reflect the opinions of Chargeback's writers. Everyone's situation is unique; therefore, it is important to conduct your own research and note that our self-help tools are not guaranteed to help with any specific problem.
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