RISE Credit Personal Loans Review

RISE Credit is a lender that specializes in personal loans for borrowers with poor credit. Although they come with high initial rates, RISE Credit personal loans feature a progressive rate system that allows borrowers to secure better rates over time as they make on-time payments and their credit improves. For borrowers unable to qualify for loans elsewhere, a personal loan from RISE Credit can seem like an attractive option even with high rates attached. RISE Credit is owned by parent company Elevate, which provides a variety of other financial services.

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.

Check Your Personal Loan Rates

Answer a few questions to see which personal loans you pre-qualify for. The process is quick and easy, and it will not impact your credit score.

RISE Credit at a glance

Lender Min. Loan Max. Loan APR Terms Key Benefit
RISE Credit $300 $5,000 50% – 299% 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 up to 299%, 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% to 299%, 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:

  1. Gather any relevant information, including your Social Security number, income information and ID.
  2. Fill out an application form and see if you prequalify.
  3. 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.


OppLoans offers personal loans for borrowers with poor credit. While it has high rates similar to RISE Credit, its APR is capped at 199%, which may present a better deal depending on your credit score and what state you live in. The lender also offers term lengths of up to 3 years, which gives borrowers additional time to pay off the money they’ve borrowed.


If you’re interested in a personal loan and you have fair credit between 600 and 700, Avant is a good option. The lender offers personal loans of up to $35,000, with rates as high as 35.99% APR. Like RISE Credit, it offers the ease and convenience of a quick online application process, and funds can be deposited into your account within only a few days. Avant is a good alternative for borrowers with fair credit who may be able to qualify for slightly better rates than RISE Credit offers.


NetCredit is another lender that offers loans for borrowers with less than stellar credit. Rates are capped at 155%, which is still quite a bit lower than the upper limit for a loan from RISE Credit. Borrowers can take out loans of up to $10,000, with term limits of up to 5 years. Like RISE Credit, NetCredit doesn’t charge any application fees or prepayment penalties, and borrowers can prequalify for a loan with a soft credit check.

Advertiser Disclosure

The bottom line

Unless you’ve exhausted all other options, RISE Credit probably isn’t the best place to secure a personal loan. It charges very high rates, and borrowers may find it difficult to pay off the increasing amount of interest on the loan over time. However, if you’re unable to secure a loan elsewhere, RISE Credit may be worth looking into. The lender offers better rates than payday loans and other predatory lenders and does give borrowers the option of reducing their rates after successive on-time payments. RISE Credit also provides a free credit score report and educational tools that can help customers to manage their finances.