We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence. The offers that appear on this site are from companies from which TheSimpleDollar.com receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. The Simple Dollar does not include all card/financial services companies or all card/financial services offers available in the marketplace. The Simple Dollar has partnerships with issuers including, but not limited to, Capital One, Chase & Discover. View our full advertiser disclosure to learn more.
RISE Credit Personal Loans Review
While RISE Credit isn’t the best lender for most borrowers with fair or good credit, in a pinch it can be an alternative for borrowers who have exhausted all other options. In many cases, however, qualified borrowers may be able to secure more competitively priced loans elsewhere. As always when it comes to personal loans, it’s important to do your research and compare a variety of different lenders to ensure that you get the best rates possible.
RISE Credit at a glance
|Lender||Min. Loan||Max. Loan||APR||Terms||Key Benefit|
|RISE Credit||$300||$5,000||50.00%–299.00%||4 – 26 months||Fast funds for borrowers with poor credit|
What we like about it
For borrowers who are unable to secure a personal loan elsewhere, RISE Credit may provide them with the funds they need to weather a financial emergency or fund an unexpected expense. RISE Credit accepts even borrowers with poor credit, so it may be a good fit if you’ve been rejected by other lenders. While its rates are high, it generally offers better prices than payday loans and other predatory lenders. RISE Credit personal loans also reward borrowers for on-time payments, and may gradually lower rates as time goes on and borrowers prove themselves creditworthy. For customers who need help regaining control over their finances and raising their credit score, RISE offers a variety of helpful tools and resources, including a free credit score report and credit alerts.
- Accepts borrowers with poor credit
- May lower rates over time
- Provides financial tools and resources
Things to consider
RISE by Elevate personal loans may be a decent last resort for borrowers unable to secure a loan elsewhere, in most cases borrowers with fair or good credit will be able to find better rates with other lenders. RISE Credit personal loan rates range from 50.00%–299.00%, and the interest associated with these loans can add up fast. Also, RISE Credit offers comparatively short-term lengths of 4 to 26 months, so borrowers have less time to pay back the amount they’ve borrowed. Loan amounts range from $300 to $5,000, so RISE Credit isn’t a good fit for borrowers who need a larger loan. Personal loans from RISE Credit are also only available in 31 states, so you may not qualify depending on your location.
- High rates
- Short term lengths
- Small loan amounts
What you need to know
RISE Credit specializes in loans for borrowers that may not qualify for a loan from a traditional lender. While cheaper than a payday loan, these loans typically come with high rates and accumulate interest rapidly over time. Loan amounts range from $300 to $5,000, with term lengths from 4 to 26 months. A personal loan from RISE Credit has an APR of 50.00%–299.00%, which is much higher than many traditional lenders. In general, RISE Credit is only a good option as a last resort. However, if you need funds in an emergency, it’s better than nothing. To apply for a personal loan from RISE Credit, you should:
- Gather any relevant information, including your Social Security number, income information and ID.
- Fill out an application form and see if you prequalify.
- If you qualify for a loan, submit an official application and receive your funds in as soon as 24 hours.
RISE Credit’s fees and penalties
While RISE Credit personal loans have high rates, the lender doesn’t charge any additional fees. Notably, RISE Credit has no prepayment penalties, so you’re free to pay off your loan early at no extra cost. This can save borrowers quite a bit of interest in the long run.
RISE Credit alternatives
If you’re interested in a loan from RISE Credit, there are a few other lenders worth considering. When it comes to applying for personal loans, you should always do your research and explore several different lenders to ensure that you’re getting the best rates possible.