FAQs
Browse through the answers to our most frequently asked questions.
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We are very sorry that you have been impacted by COVID-19. If you need assistance with your account please contact us at 1-877-606-1340 1-877-606-1340 or e-mail us at support@echocredit.com so one of our Echo Guides can help get you the support you need. For helpful information on COVID-19 financial assistance take a look at our Echo Credit blog.
Unfortunately, we’ve all felt changes to our daily lives due to COVID-19 and know that with all the news and information being circulated it can be overwhelming. To provide additional help to our consumers we have been closely following the CARES Act and found some frequently asked questions (FAQs) provided by the US Senate with information regarding the Cash Payments to Americans as well as other relief information that may be helpful to you during this difficult time. Click on the link below to view the FAQ. Please feel free to share with your friends and family.
CARES Act FAQs for Individuals From US SenateAn installment loan is a more traditional type of loan where the borrower applies for and then takes the total amount they need at one time. The borrower pays back that amount over a set period of time in equal payments (installments) until the loan is paid in full. If more money is needed, the borrower must reapply for another loan. Typical examples of installment loans are auto or mortgage loans.
A line of credit offers consumers a more flexible borrowing solution and, generally, is more suitable for those who have borrowing needs that vary. Once approved, the borrower can access any portion of that credit line, up to the maximum amount approved, at any time (provided the account is in good standing). Lines of credit are intended to be borrowed from multiple times without having to reapply. Interest and/or fees are assessed only on the amount borrowed/outstanding. Any available, but unused, credit does not incur any interest or fees.
You must be at least 18 years old (19 if residing in AL) and:
All submitted applications are subject to verification of application information and acceptable prior credit or loan history. Your online application will be either approved or declined based on our evaluation of your information. In some cases, we will ask for additional bank account eligibility information.
When you complete and submit an application for a Line of Credit from Echo Credit, we access the credit report of most applicants. Multiple credit inquiries in a short period of time may have an impact on your overall credit score.
Not necessarily – in addition to credit score, we look at a variety of factors when considering your application.
After you get started you will be taken through a quick 4 step application of creating an account with Echo Credit, providing personal and financial information and finally agreeing to the application disclosures before you submit.
Most applications receive a credit decision in a matter of seconds once they submit an online application.
If we are unable to verify any of your application information, you may be required to complete a quick bank eligibility verification. Once complete, you will be notified of your results and in most cases this can be completed in a few minutes.
Most applications receive credit decision in a matter of seconds once they submit an online application. You will also receive an email notification.
If we are unable to verify any of your application information, you may be required to complete a quick bank eligibility verification. Once complete, you will be notified of your results and in most cases this can be completed in a few minutes.
See Pricing for the available credit lines in your state.
If you submit your Cash Advance request prior to 10:30 a.m. Central time (Monday – Friday, excluding bank holidays) and you selected electronic funding, your request can be funded that same day. Your bank determines when deposited funds are made available in your account. Otherwise your request will be electronically funded on the next business banking day. If you request, we can send you a paper check by mail, which will take approximately 7 – 10 business days to receive.
Jora Credit. Echo Credit is operated by Jora Credit Holdings, LLC and is headquartered in Irving, TX. Echo Credit offers simple and convenient emergency lines of credit. All Jora Credit Holdings companies are state licensed lenders that operate under each state’s specific rules.
If you received an offer from Echo Credit on the LendingTree website, you have met our preliminary offer criteria and have a good chance of being funded. Final approval is provided after a complete application is submitted on the Echo Credit website and meets all of our eligibility criteria.
Your total cost of credit depends upon the state you live in, the amount you borrow, and prior credit or loan history. See Pricing for more details specific to pricing available in your state.
This is an expensive form of credit and may not be suitable for you. Please carefully consider your own unique financial situation and make an informed decision about whether or not this Line of Credit is the right option for you.
Echo Credit customers are generally considered higher risk borrowers who usually have trouble accessing other credit products available in the market today. As a result of this added risk, we experience much higher losses and higher costs than other lenders like banks or credit card companies. So, in order to cover these higher losses and costs we must charge higher rates for our loans.
You are responsible for making your payments on time. If you make a payment late, fail to make a payment, or a payment is returned unpaid, you will accrue additional finance charges. To make on time payments easier, you can schedule automatic electronic payments from your checking account or you may provide payment in the form of check or money order. We may resubmit the payment to your bank if a payment is returned. If you are unable to make your scheduled payment, please contact Customer Support to see if we are able to help.
Echo Credit does not charge additional fees such as prepayment penalties, late fees, or non-sufficient funds (NSF) fees.
Echo Credit accepts payments electronically by ACH, remotely created check/payment order, or debit card. You can also mail payments to Echo Credit at PO Box 42994 Philadelphia, PA 19101-2994. You can schedule electronic payments to be withdrawn from your checking account automatically or on a one time basis. Echo Credit provides you with the choice of making payments on your line of credit over time or paying off at any time without a prepayment penalty. See Pricing for more details specific to pricing available in your state.
Keeping your financial and personal information safe is one of our highest priorities. Echo Credit has taken a number of measures to keep our process completely confidential. Please review the details on our Security page. Also, please review our Privacy Disclosure for details on how we handle your personal information. And if you have additional unanswered questions, please Contact Us.