Echo Credit

Echo Credit Review

Echo Credit is offered through Jora Inc., a direct lender founded in 2017 and based in Addison, TX. Echo Credit are available in 11 states across the USA.

Echo Credit FAQ

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, they do 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 the Echo Credit charge a cash advance fee?

No, they do not 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 Typically, fees range from 0.5% to 10% of the amount withdrawn.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 the Echo Credit charge a statement balance fee?

No, this lender does not charge a statement balance fee.

Does Echo Credit charge a late fee?

No, they will not charge you a late fee.

How much can you borrow via Echo Credit?

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

Echo Credit Fees

Cash Advance Fee	N/A
Origination Fee	No
Prepayment Fee?	No
Late Payment Fee	No
Statement Balance Fee	No

What do you need to qualify for Echo Credit?

Applicants with a credit score that ranges from 350 may be eligible for Echo Credit. 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 personal checking account
• Proof of income
• Recent bank statements
• Proof of identity

What is the estimated funding time for a personal line of 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?

Yes, 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 may help improve your credit.

Is Jora Inc. a legit company?

Echo Credit was founded in 2017. It is an established company that has been in business for 6 years. Echo Credit are mostly not recommended by SuperMoney community users.

How to apply for Echo Credit

• Visit the website.
• Fill in the application form. You will typically need to provide general information such as your name, address, email address, Social Security Number, source of income and employment, and checking account information.
• Check the information is accurate and submit your application.