Pros
- Accepts bad credit
- No major fees
Cons
- Very high APRs: 99%
- Only available in 10 states
- Small loans: $500 - $4,000
- No joint applications
Jora Credit Review Summary
Jora Credit’s personal loans are very expensive, with APRs ranging from 99% - 349%. Plus, Jora only offers small loans of $500 - $4,000, which borrowers pay back over 8 - 30 months, depending on the loan amount.
Jora Credit states on their website that they consider applicants who have bad credit, and the lender offers quick approval and funding. You may even be able to receive your money the same day you apply. In addition, Jora Credit doesn’t charge fees on their loans.
Despite these draws, Jora Credit’s rates are just too high. Borrowers should be able to find other lenders that accept bad credit but charge much lower APRs.
Below, you’ll find more details on Jora Credit loans, along with WalletHub’s ratings for them in three major categories: Terms, Requirements & Application, and Reviews & Transparency.
Jora Credit Personal Loan Terms
 | |
| APRs | 99% - 349% |
| Loan Amount | $500 - $4,000 |
| Loan Terms | 8 - 30 months |
| Origination Fee | None |
| Prepayment Fee | None |
| Late Fee | None |
| Minimum Credit Score | Not disclosed* |
| Minimum Income | Not specified |
| Loan Purpose | Debt Consolidation, Refinance, Home Improvement |
| Time to Receive Loan Money | 1 - 2 business days |
| Other Requirements |
|
Jora Credit Interest Rates, Fees & Other Terms
Category Rating: (1.3/5)
- Overall APR range: Jora Credit personal loans have interest rates of 99% - 349%.
- How rates are determined: The rate you will get mainly depends on your credit history, loan amount, and state of residence.
- Fees: The origination fee is None and the fee for making late payments is None. There are no prepayment penalties, either.
- Loan amount & timelines: Jora Credit personal loan amounts range from $500 - $4,000. They have repayment terms from 8 - 30 months.
Jora Credit Requirements & Application Information
Category Rating: (2.5/5)
- Minimum credit: Not disclosed, but Jora Credit does consider applicants with bad credit.
- Minimum income: Jora Credit doesn’t give a minimum income requirement, though having a source of income is one of the eligibility criteria.
- Age: You must be at least 18 years old (19 years old in Alabama).
- Citizenship: You must be a U.S. citizen or permanent resident.
- Identification: You must have a Social Security number.
- State: Only residents of 10 states are able to apply for a loan from Jora Credit: AL, DE, ID, MS, MO, NM, ND, SC, UT, WI. In two other states, KS and TN, Jora offers lines of credit.
- Checking account: You must have an active checking account.
- Pre-qualification: Jora Credit does not offer pre-qualification.
- Ways to apply: To apply for a loan from Jora Credit, you’ll need to submit an application online.
- No joint loans: Jora Credit does not accept co-applicants.
- Approval timeline: Jora Credit says most applicants get a decision in minutes. If approved, it will take 1 to 2 business days to receive the funds in your bank account.
Jora Credit Reviews & Transparency
Category Rating: (4.3/5)
- Better Business Bureau: Jora Credit is not accredited with the BBB and receives an “A+” rating.
- Consumer Financial Protection Bureau: There is no complaint information available for Jora Credit.
- WalletHub: Jora Credit has an average user rating of 4.1/5 on WalletHub.
- Transparency: It’s easy to look up interest rates by state on Jora Credit’s website, and they are clear about what it takes to apply. Jora gets high marks for transparency as a result.
Summary: Jora Scores by Review Category
| Category | Score |
|---|---|
| Rates, Fees & Other Terms | 1.3/5 |
| Requirements & Application Info | 2.5/5 |
| Reviews & Transparency | 4.3/5 |
| OVERALL | 8.1/15 |
Jora Credit vs. Popular Competitors
| Info | Jora | Rise Loans | OppLoans by OppFi |
|---|---|---|---|
| Reviews | |||
| APRs | 99% - 349% | 60% - 299% | 59% - 160% |
| Loan Amounts | $500 - $4,000 | $500 - $5,000 | $500 - $4,000 |
| Loan Terms | 8 - 30 months | up to 26 months depending on the state | 9 - 18 months |
| Minimum Credit Score | Not disclosed* | Not disclosed* | None* |
Methodology
In order to provide the most accurate review for Jora Credit, WalletHub used 17 key metrics grouped into three overall sections: Terms, Requirements & Application, and Reviews & Transparency. We rated each section on a scale of 0 to 5, with 5 being the best, and then averaged the scores of the three sections to produce an overall rating for the loan.
- The “Terms” section includes information about how expensive the loan is, including rates and fees. It also takes into consideration how much consumers can borrow and how quickly they must pay it back. For companies where APR and fee ranges differ greatly by state, we used data from the most populous state serviced by the company. For Jora Credit, that happens to be Missouri.
- The “Requirements & Application” section examines how easy it is to apply for a loan and how long it takes to receive the money. It also looks at exactly who is eligible to apply.
- The “Reviews & Transparency” section measures the loan provider’s reputation as well as how clearly the lender discloses its terms and requirements. This takes into account user reviews and information from watchdog organizations.
The average of these three scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
