Jora Credit does not have any fees associated with its personal loans. Borrowers are not subject to an origination fee, late fee or prepayment fee, but you will have to pay interest when you take out a Jora Credit personal loan.
Jora Credit Fees and Other Key Terms
APRs: 185% - 350%
Loan Amounts: $500 - $4,000
Repayment Periods: 8 - 30 months
Credit Score Requirement: Not disclosed but does consider bad credit
Funding Timeline: 1 to 2 business days
Before applying for any personal loan, it’s a good idea to see if you pre-qualify first. To check with multiple lenders at once, try WalletHub’s free pre-qualification tool.
Yes, Jora Credit does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Jora Credit's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answercredit score simulator on WalletHub.
If you're looking for a lender that does not do a hard inquiry at all, you could consider Integra Credit, NetCredit and Opploans.
Jora Credit does verify income for personal loan applicants to confirm that people can repay what they borrow, but it does not disclose a minimum income requirement. You also have to meet other Jora Credit requirements to be considered, such as being at least 18 years old and being a US citizen or permanent resident. You have a good chance of getting approved if you meet all of these requirements.… read full answer
Jora Credit Personal Loan Requirements
Be at least 18 years old
Be a US citizen or permanent resident
Have a Social Security number
Must have a checking account
Must live in one of these states: DE, ID, MO, NM, ND, SC, UT, WI, TN, KS
If you want a better idea of what personal loans you may qualify for with your income, you can use WalletHub's free pre-qualification tool.
Jora Credit does not disclose a specific credit score needed to get a personal loan, unlike many personal loan providers. Although there isn't a specified Jora Credit credit score requirement, Jora Credit will consider people who have bad credit, according to customer service. Most other lenders' credit score requirements for personal loans range between 585 and 700.… read full answer
Keep in mind that Jora Credit will look at more than just your credit score when evaluating your application for a personal loan. Jora Credit will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you.
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