RISE Credit loans: payday and installment loans | finder.com

RISE Credit short-term loans

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This lender offers large loan amounts, even if you have bad credit.

Having bad credit can cut you off from a wide variety of loans, but with RISE Credit, you may still qualify. However, its interest rates are still high, and you may not qualify for the largest loans the first time you borrow.

What types of loans does RISE Credit?

RISE Credit offers payday loans, installment loans and lines of credit. Its loan amounts range from $500 to $5,000 — though the actual amount you can borrow depends on your state. Loan terms will also vary by state and the type of loan you choose, as does the APR you’ll be charged. To get an idea, visit RISE’s What It Costs page and select your state.

  • Payday loans. RISE Credit offers payday loans that allow you to repay your loan in one lump sum on your next pay date.
  • Installment loans. Like payday loans, RISE Credit’s installment loans are meant for borrowers with less-than-perfect credit, but you can take advantage of scheduled payments over an extended repayment period.
  • Lines of credit. You can borrow the same amount through a line of credit from RISE Credit, and you can choose to borrow the exact amount you need when you need it, providing you with more flexibility while avoiding paying interest on the funds you don’t use.

Why should I consider taking out a loan with RISE credit?

  • Time to change your mind. Decide borrowing from RISE isn’t the best choice for you? You have up to five business days from the date you signed your loan agreement to return your funds — without paying any fees or interest.
  • Credit score monitoring. Any borrower who holds a RISE account has access to Credit Score Plus, which is a free service that lets you view your TransUnion credit score and receive alert notifications through your account.
  • Rewards for returning customers. If you successfully pay back a loan, future loans could come with lower rates and longer repayment terms.
  • Some loans backed by FinWise Bank. Depending on your state of residence, your loan may be originated by FinWise Bank, which is FDIC insured and accredited by the Better Business Bureau.

Where does RISE fall short?

  • Limited availability. RISE Credit has been expanding its reach across the US, but it’s still only available in 32 states and Washington, DC.
  • High APRs. Interest can be high for those with poor credit. And for first time borrowers, you’re likely going to get a high interest rate that can make borrowing quite expensive.
  • Multiple fees. Some states have origination fees and higher late fees than others. Check your loan agreement to see how much you’ll be charged to borrow.

Compare short-term loan providers like RISE Credit

Updated September 21st, 2019
Name Product Filter Values Max. Loan Amount Loan Term Turnaround time
$5,000
9 to 36 months
1 business day
Comes with the option to change your due date so you won’t fall behind on repayments.
$35,000
6 months to 6 years
As soon as the next business day
Get connected with multiple lenders you might qualify with — even if you have bad credit.
$2,600
Varies
1 to 2 business days
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
Varies by state
Varies by state
1 business day
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
$15,000
Varies
Same business day to 1 business days
Get offers from potential lenders in minutes by filling out just one online form.
$50,000
Varies
Same business day to 1 business days
Fill out a simple online form to compare offers from several lenders that may be able to help.
$1,000
Varies by state
1 to 2 business days
Plus, get access to check cashing, cell phone top ups, bill pay and more at one of its many storefronts.
$10,000
90 days to 72 months
As early as 1 business day
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
$250
7-30 days
As soon as the next business day
Get rewarded for making on-time repayments with better rates and terms on future loans.

Compare up to 4 providers

With these providers, you’ll submit one application and possibly get connected with a suitable direct lender in its network.

Updated September 21st, 2019
Name Product Filter Values Max. Loan Amount Loan Term Turnaround time
$35,000
6 months to 6 years
As soon as the next business day
Get connected with multiple lenders you might qualify with — even if you have bad credit.
$15,000
Varies
Same business day to 1 business days
Get offers from potential lenders in minutes by filling out just one online form.
$50,000
Varies
Same business day to 1 business days
Fill out a simple online form to compare offers from several lenders that may be able to help.
$10,000
90 days to 72 months
As early as 1 business day
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
$1,000
Varies based on lender
Same business day to 1 business days
No credit? Past bankruptcy? One of the lenders in its network may still be able to help.

Compare up to 4 providers

How much will it cost me to borrow with RISE Credit?

Rise Credit considers your credit score before customizing an APR for your specific loan. Your APR will likely be between 36%–299% , depending on your creditworthiness and the state you live in. If you miss a payment, you could be charged a late fee of 5% of the payment.

To get an exact cost of your loan, read your agreement carefully before you sign. If you decide you don’t want to borrow, you’re under no obligation to accept — and you have up to five business days to cancel if you change your mind.

What do borrowers say about RISE Credit?

In general, RISE Credit receives decent scores from the Better Business Bureau (BBB) and on Trustpilot. However, it isn’t accredited by the BBB, has over 150 complaints filed against it and the most recent reviews on its BBB page all rate it one star. Borrowers had problems with the high cost of a loan, especially those who borrowed a large amount, and often complain about issues paying off the loan.

It fares slightly better on Trustpilot, earning an 8.7 out of 10. Borrowers had similar issues, with many stating that the approval process was inefficient and that the high cost of the loan was detrimental.

Are RISE Credit loans safe?

Yes. RISE Credit uses 128-bit Transport Layer Security encryption and multilayer digital defenses that helps keep your personal and financial information safe from malware, phishing and other illegal activity. If you have any problems or concerns, contact customer service or complete an online form. It also has an industry-standard privacy policy that covers how your personal information is used and what you can do to limit sharing.

How to apply for a loan with RISE Credit?

RISE Credit has a simple online application that can be completed in minutes. Just follow these steps:

  1. Visit RISE Credit’s website and enter your full name, email address and select your state. Then click Check Your Loan Options.
  2. On the first page of the application, provide information about yourself, your address and your financial information. Then create an account and click Check Your Loan Options.
  3. Wait while RISE reviews your application. If approved, you may be asked to provide extra documentation to confirm your identity.

Eligibility requirements

  • Be 18 or older and a US citizen or permanent resident.
  • Have a bank account.
  • Live in one of the 15 states that Rise Credit services.
  • Have a phone number and valid email address.
  • Be able to prove a source of income.

Bottom line

RISE Credit provides transparent short-term loans so you can be sure you’re making the right financial decision. But it isn’t necessarily the cheapest option. You may want to compare your other payday loan options before borrowing and check out our guide to installment loans if you need to borrow a larger amount.

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2 Responses

  1. Default Gravatar
    JustinAugust 19, 2017

    what is the minimum monthly income approved by Rise Credit

    • Avatarfinder Customer Care
      AnndyAugust 20, 2017Staff

      Hi Justin,

      Thanks for your questions.

      One of the requirements to apply for a RISE short-term loan is for you to have a regular source of income. The minimum income requirements vary by state. It would be best if you directly contact RISE to inquire how much minimum income is needed to apply in your state.

      If you are looking for a short term loan, you may also compare your other options here.

      Cheers,
      Anndy

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