RSVP Loans review

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Expect high interest rates with this invitation-only lender.

Bottom line: RSVP Loans is upfront about its loan terms and offers a simple application process. But that’s where the good ends. Negative customer reviews, limited availability and high costs make it a risky option. Read the full review.

$1,000

Min. Amount

$3,000

Max. Amount

As soon as the next business day

Turnaround time

Details

Product NameRSVP Loans installment loans
Min. Amount$1,000
Max. Amount$3,000
Loan Term14 to 20 months
Turnaround TimeAs soon as the next business day
RequirementsActive checking account, employed with regular source of income, resident of serviced state, 18+ years old, not a member of the US military

Pros

  • Up front about loan terms
  • Simple application process

Cons

  • Limited state availability
  • Invite-only application
  • Negative customer reviews
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Review by


Kellye Guinan is a seasoned financial writer with over 500 articles under her belt spanning all things loans from auto to personal to business and everything in between. With four years in the field and five years of research experience, she's able to make complex personal finance decisions easier for everyday people to tackle. When she's not up to her knees learning about the latest trends in lending, she spends her time improving her own financial literacy and expertise.

Expert review

RSVP Loans offers installment loans to people who receive a preapproval offer in the mail. This means it has a higher rate of approval — although it’s not clear how many applicants are approved. But its website does cover the potential cost of borrowing in each state, which is more than most of its competitors offer.

However, previous borrowers have complained about harassing phone calls and poor customer service. And even though it’s upfront, RSVP Loans is still costly. Expect to pay back thousands of dollars in interest on your loan.

You can compare other lenders if you don’t have an invitation or want to stick with a lender that has a better reputation.

RSVP Loans rates, fees and terms

RSVP Loans offers competitive rates on its installment loans — but keep in mind it is an expensive form of credit. Interest rates range from over 200% to almost 330%, depending on the state you apply from. This means the total cost of your loan will be double or even triple what you borrow.

Payments are typically made every two weeks, so it may not seem like much. But make extra payments if you can. It'll cut down on the cost and save you money on interest.

Here are the loan terms you can expect based on your state:

Alabama

$2,000 to $3,000

18 to 20 months

219.60% to 274.49%

California

$2,600 to $3,000

20 months

219.60% to 234.57%

Delaware

$1,000 to $3,000

14 to 20 months

219.60% to 328.42%

Idaho

$1,500 to $3,000

16 to 20 months

219.60% to 302.46%

Missouri

$1,000 to $3,000

14 to 20 months

219.60% to 328.42%

South Carolina

$1,000 to $3,000

14 to 20 months

219.60% to 328.42%

Utah

$1,000 to $3,000

14 to 20 months

219.60% to 328.42%

Wisconsin

$2,000 to $3,000

18 to 20 months

219.60% to 274.49%

Your invitation will contain the amount you're preapproved to borrow.

Is RSVP Loans legit?

Yes, RSVP Loans is a legitimate lender with an industry-standard privacy policy and an encrypted website to keep your information safe. It also provides clear information on the cost of borrowing and copies of its state licenses.

That being said, some of its alleged practices aren't legit. Customers report RSVP Loans contacting their employers, and quite a few say they have received harassing phone calls multiple times a day from different numbers. These are shady practices — and you should consider another option if you want to avoid similar treatment.

Compare more payday loans

Select your state to see options that don't require an invitation to apply.

Name Product Filter Values Loan amount Turnaround time Requirements
OppLoans Installment Loans
$500 to $5,000
1 business day
Direct deposit, meet minimum income requirements, live in eligible state
Comes with the option to change your due date so you won’t fall behind on repayments.
Stilt
$1,000 to $25,000
2 to 3 business days
Be employed, have a US bank account, live in a state where Stilt operates, hold one of the following visas: F-1 and OPT, H-1B, H4, O-1, L-1, TN, J-1, DACA or be a US citizen.
No green card? You could still qualify for a personal loan.
Fast5kLoans Short-term Loans Connection Service
$100 to $35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
LendYou Short-term Loans
$100 to $2,500
Same business day to 1 business day
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
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RSVP Loans reviews and complaints

BBB accredited No
BBB rating B
BBB customer reviews 1 out of 5 stars, based on 1 customer reviews
BBB customer complaints 4 customer complaints
Trustpilot Score 2.8 out of 5 stars, based on 213 customer reviews
Customer reviews verified as of 14 April 2021

The most recent reviews of RSVP Loans are negative. Many customers complain about the exorbitant cost, poor customer service and inflexible payment options.

Quite a few people who have been affected by COVID-19 state they weren't given any relief after losing a job or working fewer hours. And many also state that RSVP Loans called them at work or threatened to contact management.

It leaves no responses on its Trustpilot page, and only the complaints on its BBB page have responses. Despite its advertised willingness to help, its borrowers paint a different picture.

Eligibility requirements

You''ll need to meet these requirements to qualify for an installment loan from RSVP Loans:

  • Active checking account
  • Valid email address and phone number
  • Regular source of income

How to apply

Because RSVP Loans sends out invitations, the application process is quick. You'll simply need to visit RSVP Loans' website and enter your invite code.

The application will be prefilled with your personal information. Correct any inaccuracies and confirm your details to submit your application.

If approved before 5 p.m. CT, you can expect your funds the next business day. If you're approved after 5 p.m. CT, on a weekend or on a bank holiday, it may take two business days to receive your loan funds.

Payment options

RSVP Loans states most customers opt for automatic payments from a checking account. Like most lenders, your payment schedule is based on when you get paid. However, you may be able to adjust your payment schedule or postpone a payment by contacting customer service.

There are no prepayment penalties, so making extra payments toward your loan can help reduce the overall cost.

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