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Echo Credit

in Personal Lines of Credit from Jora Inc.

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Echo Credit

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in Personal Lines of Credit from Jora Inc.

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In our efforts to provide the community with the most accurate information, recommendation rating is not determined until a sufficient number of SuperMoney users cast their vote
APR  (Fixed APR) 200% - 349%
Loan Amount $500 - $2,600

Echo Credit Review

Echo Credit is offered by Jora Inc., a direct lender founded in 2017 and based in Addison, TX. Echo Credit is available in 8 states across the USA.

What APRs does Echo Credit offer?

Echo Credit offers a fixed APR product that ranges from 200% APR up to 349% APR.

Does Echo Credit charge an origination fee?

No, Echo Credit does not charge an origination fee.

An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Echo Credit charge a cash advance fee?

No, Echo Credit doesn't charge a cash advance fee. Some lenders charge a cash advance fee every time borrowers withdraw cash from their line of credit. Typically, fees range from 0.5% to 10% of the amount withdrawn.

Does Echo Credit charge a late fee?

No, Echo Credit will not charge you a late fee.

How much can you borrow via Echo Credit?

Upon approval and based on your credit worthiness, your Echo Credit personal line of credit will be assigned a credit line of at least $500 and as much as $2,600. .

Echo Credit Fees
Cash Advance Fee N/A
Origination Fee N/A
Prepayment Fee? No
Late Payment Fee N/A

What do you need to qualify for Echo Credit?

Echo Credit does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Echo Credit does not have or does not disclose a minimum annual income eligibility requirement. Echo Credit only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Echo Credit product fall outside of the MLA limits and as a result the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid checking account
  • Proof of income
  • Proof of identity

What is the estimated funding time for a personal line of credit via Echo Credit?

Echo Credit will typically provide a credit approval decision in less than an hour and fund the line of credit within 10 business days .

Does Echo Credit report your account activity to credit bureaus?

Echo Credit reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

How to apply for Echo Credit

  • Visit the Jora Inc. website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
  • Check the information is accurate and submit your application.
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Contact

  • Headquarters
  •   5080 Spectrum Drive Suite 700W
    Addison, TX 75001
  •   Visit Site

Other Services by Jora Inc.

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 8 states
  • Alabama
  • Delaware
  • Idaho
  • Kansas
  • Missouri
  • South Carolina
  • Tennessee
  • Utah

Feature Breakdown

Annual Fee $0
No Origination Fee  
No Prepayment Fee  
No Late Fees  
Checking Account Required  
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Recent Bank Statements
Minimum Draw $100
Approval Speed 0 hours
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Funding Time Range 7 - 10 days
Payment Options
  • Automatic Payments
  • Bank Transfer
  • Check by mail
APR (Fixed APR) 200% - 349%
Loan Amount $500 - $2,600

Echo Credit Community Reviews

 

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