Our reviewers evaluate products and services based on unbiased research. Top Consumer Reviews may earn money when you click on a link. Learn more about our process.

Jora Credit Review

Wednesday, October 20th

2021 Cash Advance Service Reviews

Jora Credit Review 3.5 Star Rating

Jora Credit

3.5 Star Rating
  • "A" rated by the BBB
  • Loans from $400 to $4,000
  • APRs from 99% to 349%
  • Loans funded same or next business day
  • Helpful tool makes it easy to look up loans and rates in your state
  • Not available in many states

Jora Credit is a newer option on the market for cash advances, in business for just under 5 years. They are "committed to the lending of responsible credit products to eligible applicants in need of emergency credit" and allow you to repay your cash advance over time instead of in one big payment at your next paycheck date.

Super-fast payments

Jora Credit's loans fund quickly. If you complete their four-step online application and are approved, you can have your money deposited the same day if you sign your loan agreement before 10:30AM Central (Monday through Friday, excluding bank holidays). Otherwise, you'll get your loan the next business day.

Easy to look up rates and available loan amounts

Unlike many cash advance providers, Jora makes it easy to find out how much you can borrow in your state and what APR you can expect. Just click on the "What It Costs" link at the top of the site, then click on your state, choose your desired loan amount and payment frequency (bi-weekly or monthly). Overall, you can borrow anywhere from $400 to $4,000 with APRs between 99% and 349%, but this tool tells you much more about cash advances wherever you live.

Best Cash Advances

Rates vary by state

For example, if you live in Alabama, you can borrow a minimum of $2,100 and a maximum of $4,000 with an APR of 99% if you make 65 biweekly payments. Idaho residents can borrow anywhere from $500 to $4,000, with an interest rate of 349% for the lower loan amount and 99% on the higher loan.

Many states not eligible for cash advance loans

It's also a smart way to find out if your state is included before you submit an application or any other personal details. That's how we found out that Jora no longer offers cash advances in California. In addition, Alaska, Arizona, Colorado, Connecticut and Florida were just the first handful of states we checked out that are not included in Jora's coverage area. You might have a hard time getting a loan here.

Good reputation with the BBB

That's the biggest reason Jora doesn't get our highest rating for payday loans: there are just too many people in the US who won't be eligible because of where they live. Beyond that, Jora Credit does well: the BBB gives them an "A" rating, and there were only 15 complaints registered there in the year leading up to our review. Among cash advance lenders, that's a pretty good track record!

Solid option if you're eligible

Jora Credit is a solid choice for quick cash loans if you are fortunate enough to live where they operate. Unfortunately, most Americans won't be within their service area and will have to choose a different cash advance provider.

Where Can You Find the Best Cash Advances?

Good question. "Cash advance" and "trustworthy" don't tend to be said in the same breath. Unfortunately, there's a lot of truth to that: cash advances often come with extremely high interest rates and short payback periods. They should be the last resort you consider if you're strapped for cash.

You may spend much more in interest than you borrowed to begin with. But, with more than 2.5 million Americans each year who take out a cash advance, it's important to know how to find a lender that's reputable.

The Best Cash Advance Services Compare Cash Advance Services Compare Cash Advance Service Reviews What are the best Cash Advance Services Best Cash Advance Service Reviews

Cash Advance Service FAQ

A cash advance provides you with a loan where you are essentially borrowing from a future paycheck. If you just need a little bit of money to hold you over until your next deposit, a cash advance loan could help.
That depends on the lender you select and the laws in your state. Most cash advance services offer smaller loans to first-time customers and increase the amount available to repeat clients. You can expect to qualify for a loan amount between $100 and $1000, possibly up to $2500.
No, and that's part of the appeal of a cash advance loan. You have to provide proof of income, and that doesn't depend on your credit score.
You'll usually have a service fee that's a percentage of the loan amount, in addition to any interest you're charged. Be aware that interest rates on cash advance loans are extremely high: you may see APRs of over 2,000%! In other words, cash advance services should probably be considered as a last resort.
Most providers of cash advance loans can get your funds deposited as quickly as the next business day, once you've been approved. The quicker you fill out the application and provide any requested documentation, the sooner your funds will be transferred.
Because your loan is borrowing against your next paycheck, you'll typically have until that pay date to repay what you borrow. For example, if you're paid twice a month, you'll probably have a loan term of 15-17 days, or up to 31 days if you get paid once a month.
Frankly, yes. These are some of the highest-interest loans on the market, and you could get stiff penalty fees and other charges if you don't pay them back on time. Laws vary by state; you could have a grace period if you can't pay your loan off by the due date and you request an extension beforehand.
Yes. There are many lenders that have been in business for decades and that have a positive reputation for providing funds to clients in desperate situations without taking advantage of them. However, because of the higher-risk nature of cash advances, you should take the time to read all of the fine print and verify that the lender you're considering is trustworthy before you commit.
Compare the Best Reviews

Continued from above...

How do cash advances work? They're meant to be short-term loans to hold you over until your next paycheck. You'll either have to repay the cash advance and all of the interest right at the time of your upcoming, scheduled payday, or you may be able to set up your loan with weekly, biweekly or monthly repayments. If you happen to get paid earlier than you expected, or come into extra money, most cash advances can be repaid ahead of time, which will save you some money in interest fees.

Why are cash advances so popular? First off, you rarely have to have good credit; many cash advance companies only ask for identification, a bank account number, and proof of a steady paycheck. Cash advances are also easy to get: some states have more in-person loan "stores" than McDonald's locations!

What are the downsides of a cash advance? Besides extremely high interest rates, many borrowers find these loans hard to pay back. Up to 20% of cash advances go into default, and as much as 80% of these loans are "reborrowed" again within 30 days. As you might imagine, that racks up huge fees - translating into big profits for the cash advance lender and less money in your pocket.

Now that you know the drawbacks of cash advances, how can you increase your chances of getting the money you need from a lender you can count on? Look for these things when you're choosing a service for a cash advance:

  • Open disclosure of rates and fees. If a cash advance lender hides their rates and fees, they may not be trustworthy. Everyone expects high interest rates, so there's no reason for a company not to put them right on their site.
  • Good reputation. When you're dealing with cash advances, you need more than interest rate details to make your decision. Check out what borrowers say about the lender: is everything upfront? Did they feel taken advantage of in any way? See if the Better Business Bureau has given the service a good rating.
  • Repayment options. The more choices you have, like biweekly or monthly repayments, the more likely it is that you will be able to pay back your cash advance without rolling it over or defaulting.

TopConsumerReviews.com has evaluated and ranked the most popular sources of cash advances available today. We hope this information will help you choose a lender that will get you the money you need with terms you can afford.

Compare Cash Advance Services

Select any 2 Cash Advance Services to compare them head to head

See the Best Cash Advance Service
The Best Reviews of Cash Advance Services