Jora Credit uses Jora Management, LLC, to fund personal loans. The company offers loans of $500 - $4,000 with APRs of 185% - 350%, depending on an applicant’s creditworthiness, and gives borrowers 8 - 30 months to repay their loans. You can qualify for a personal loan with the Jora Credit even if you have bad credit.
Key Things to Know About Jora Credit Personal Loans
Yes, Jora Credit personal loans are legit because Jora Credit is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why Jora Credit personal loans are legit is that the lender has a Better Business Bureau rating of A.… read full answer
Still, you should note that Jora Credit personal loans aren’t “legit” if you use that word as a synonym for “good.” Jora Credit personal loans are very expensive, charging an APR of 185% - 350%.
To apply for a Jora Credit personal loan, first check for pre-qualification and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.
How to Apply for a Jora Credit Personal Loan
… read full answerCheck for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for a Jora Credit personal loan. It doesn't hurt your credit. You can check for pre-qualification on the Jora Credit website or WalletHub's pre-qualification tool.
Enter your personal information on the application. Jora Credit requires the following personal information on the application: your full name, email address, home address, home phone number, cell phone number, driver's license number and Social Security number.
Enter your financial information on the application. Jora Credit requires the following financial information on the application: your income type, additional money income type, additional income source, bank account information and monthly mortgage/rent amount.
Double check the application for accuracy. To ensure that your Jora Credit personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
Submit your application. Jora Credit will typically provide a decision on your application within 1 to 2 business days (both for approval and funding).
If you are approved for a Jora Credit personal loan it's your responsibility to make monthly payments until you have fully paid back your loan, including interest.
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.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.