About Rise Credit

By Derek Lakin
HighYa Staff Updated on: Aug 11, 2017

Your interest may have been piqued by a recent commercial or mailer from Rise Credit, a short-term lender that claims to help you address financial emergencies using fast and easy personal installment loans.

On top of this, the lender claims to offer flexible repayment terms, rates that go down over time, access to their Free Credit Score Plus service, and tools that can help customers start a budget, set savings goals, and better manage their debt.

In short, Rise claims that “a better financial you, starts with you,” so they help their customers build good credit and learn new money habits.

According to a chart on their website, Rise’s rates tend to fall somewhere between credit card cash advances on the low end, and payday loans on the upper. But does this mean you should use them?

To address this important question, along with many others, we performed some in-depth research using third-party resources, as well as speaking to the company directly. Here’s what we found.

Rise Credit Details

By offering loan amounts between $500 and $5K, Rise Credit claims to potentially benefit customers—and differentiate themselves from the competition—in three ways:

  1. Although the company recommends getting out of debt as soon as possible, they offer up to a 50 percent rate reduction on future loans or advances.
  2. Their free Credit Score Plus service provides customers with access to credit score, credit alerts, and savings and spending tips and tools.
  3. Like most lenders, Rise also reports payments to the major credit bureaus. As a result, if customers “demonstrate positive financial behavior” and make payments on time, their credit score could improve.

If you’re interested in applying for a Rise Credit loan, the process works over the following steps:

First, fill out an online application, which includes basic information such as name and address, as well as more detailed info such as social security number, checking account balances, and so forth.

According to the Rise Credit website, you’ll need to apply online and to have a valid checking account and email address. We’ll talk about additional requirements in a moment.

Once approved, your loan can be funded as soon as the next business day (as long as approval occurs before 6 pm ET) and sent directly to your checking account. Then, you’ll be able to log into your Rise account to view activity and check your balance 24/7.

How Does Rise’s Credit Score Plus Program Work?

For some quick background, there are three main credit bureaus: TransUnion, Equifax, and Experian. They collect financial data about individuals related to mortgages, auto loans, personal loans, and forth. Then, they package this information into a unique credit score, each of which is typically within 20 points of one another.

Whenever you apply for a new loan, lenders will utilize one or more of these scores to help determine your eligibility, APR (often the lower your score, the higher your rate will be), and repayment term.

With these details in mind, Rise’s Credit Score Plus service is offered through TransUnion Interactive, Inc., so you’ll only receive their specific score. While details are slim on the Rise website, we’re also told this involves free credit alerts.

If your Credit Score Plus account remains inactive for 90 consecutive days, TransUnion will automatically un-enroll you in the program, and you’ll be required to re-enroll if you wish to continue service.

What Are Rise Credit’s Eligibility Criteria?

As of this writing, Rise online loans were available to residents of the following states: AL, CA, DE, GA, ID, IL, KS, MS, MO, NM, ND, OH, SC, TX, UT, and WI.

In order to qualify for a Rise Credit loan, you must be at least 18 years of age with a job or other proven source of income. You’ll also need to have an active/valid checking account, a working phone number, and an email address.

According to the FAQ on their website, “RISE is not available to applicants listed as Covered Borrowers in the Military Lending Act database, including qualifying active duty service members and their dependents as defined in 32 C.F.R. § 232.”

Taken together, Rise’s eligibility guidelines—along with the rates you’ll pay—are based on an “assessment of what you can afford, your application information and credit history, and the loan amounts and terms offered in your state.” Let’s continue this discussion in the next section.

How Much Does a Rise Credit Loan Cost?

After you complete your application, the FAQ indicates your loan could be approved in seconds. From there, the funds can be sent via ACH as soon as the following business day, as long as your application was submitted prior to 6 pm ET.

If you prefer, Rise can send you a paper check, although this will take 7-10 days for delivery through the USPS. Your first payment will generally be withdrawn 14 days after your loan’s effective date.

Depending on your state of residence, you can repay your loan over the course of between four and 26 months, with APRs ranging between 36 and 299 percent. Here’s a quick example of how this might play out, according to the disclaimer at the bottom of Rise’s website:

The most common RISE loan in the state of California is $2,600 with 32 bi-weekly payments of $241.44 (last payment may vary), and an APR of 224.35%.

What’s this mean from a money perspective? Assuming you followed the full payment schedule, in this example, you'd end up paying more than $7,700 on an original loan of $2,600.

In this regard, the FAQ emphasizes that Rise is “an expensive form of credit,” ideal for use in emergency situations like car repairs, medical care, or job-related travel expenses. On the other hand, they also point out that their loans can be less expensive than things like overdraft, late, or utility reconnection fees (if you pay it off quickly, of course).

Rise provides a five-day window during which time customers can pay off their loan in full, without accumulating any fees.

If you make 24 months of scheduled payments and have APR(s) over 75 percent during this time, you could be rewarded with a 50 percent drop in your rate for future loans. After 12 additional months, you could see your rate drop as low as 36 percent.

Rise Credit claims that their Credit Score Plus service is free, and that their loans come without any hidden fees or early payment penalties.

For additional information on APRs and repayment terms, Rise Credit’s customer support team can be reached at 866-580-1226.

What Do Other Consumers Have to Say About Rise Credit?

Since writing our original article, nearly 70 HighYa readers provided their feedback about Rise, giving the company an average rating of 3.1 stars. Most compliments seemed related to ease of use, quick approvals, and solid customer support.

On the other hand, frequent complaints referenced high-interest rates and declinations.

We also encountered nearly 17,000 user reviews on ekomi-us.com, where Rise had an average rating of 4.7 stars. There, most compliments and complaints seemed to mirror those found on HighYa.

The company, based out of Fort Worth, TX, also had a 2.2-star average rating on CreditKarma.com among 70 pieces of feedback, and a one-star rating among 23 Yelp reviewers, at the time of our research. Most of the compliments and complaints seemed to mirror those found on HighYa.

Rise also had an A+ Better Business Bureau rating, 32 reviews (split evenly between negative and positive), and 93 closed complaints as of 7/7/17. Most related to high fees and difficulty processing loans, although the company appeared to respond quickly with a resolution.

Where does all of this information leave you?

What’s the Bottom Line About Rise Credit?

With all of this in mind, is it a good idea to take out a short-term loan through Rise Credit? If you’re in a financial emergency and there aren’t any other options, high-interest loans like these could be a real lifesaver.

But before sending in your application, keep in mind that, like payday loans, short-term installment loans often come with very high interest rates. As a result—and as we outlined in the Pricing section example earlier—you could end up repaying three times (or more) than your original loan amount if you don’t pay it off quickly.

And if you frequently encounter repayment issues with your short-term loan (whether through Rise or any other installment lender), you could be assessed late fees and other penalties that keep you in a cycle of debt. If it goes on long enough, it could even end up harming your credit score.

As with any other financial decision, it’s important to weigh all these potential pros and cons before accepting your Rise Credit loan; especially factors like how much money you need and how badly you need it, the associated interest rates, length of repayment, and whether or not you can ultimately afford to pay meaningfully more than you borrowed.

In the meantime, if you’re looking for additional free, in-depth information about how to improve your financial wellness, be sure to browse our extensive credit-related articles and guides section.

Before you go, tell millions of readers about your Rise Credit experience by writing a review below.

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137 Consumer Reviews for Rise Credit

Average Consumer Rating: 3.4
Rating Snapshot:
5 star: 72 4 star: 12 3 star: 2 2 star: 6 1 star:  45
Bottom Line: 61% would recommend it to a friend
Showing 1-11 of 137
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  • Editor’s Note: It is our understanding that this company has been asking its customers to leave feedback on HighYa. We assure you that each of these reviews has still been subjected to the same verification & vetting process that all submitted reviews go through. Learn More Here
  • 6 out 6 people found this review helpful

    Company should be illegal

    • Ohio,
    • Dec 22, 2018
    • Verified Reviewer

    I urge anyone thinking about a loan from Rise Credit to NEVER EVER do it. A $1000 loan will cost you monthly payments of $438 with APR around 298%! INSANE. This place ruins lives, does not help people. Predatory lending at its finest. If someone is taking out a $1000 loan, it means they are financially strapped. The payments to pay back will make you bankrupt. I have no clue how this is legal. The government needs to step in and stop these companies from loaning money to unsuspecting Americans.

    Bottom Line: No, I would not recommend this to a friend

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    • Dec 24, 2018

      RISE Support Team, Customer Service

      We’re sorry to hear of your dissatisfaction with your Rise Credit loan. Rise is designed to provide you with funds at the best possible price if other forms of credit are not available or are more expensive. Rise fully discloses all interest and fees associated with your Rise Credit loan prior to signing the loan agreement. We also provide a five-business-day rescission policy in the event that you decide Rise is not for you. We also advise you to pay your loan in full as quickly as possible to save on the interest. Please contact us at (866) 580-1226 or rise_spokesperson@risecredit.com if you have any further questions or if you need assistance.

      Thank you,

      Rise Credit

    • Jan 2, 2019

      John M.

      I paid my account off about 45 days ago and still got an inquiry on my credit report that my account was 30 days past due.

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  • 3 out 3 people found this review helpful

    Rise does not have flexible payment terms

    • Seabrook, TX,
    • Dec 9, 2018
    • Verified Reviewer

    I used Rise because of a financial emergency. In the application process, they advise they have flexible payment terms but it's very detailed. I am paid the 10th and 25th. This did not fit the terms available. You have to continually call for a payment extension three days after the prior payment clears. Should you miss that payment, late fees apply and your credit is dinged. Make no mistake, this is a payday product. LendUp is the best for these situations.

    Bottom Line: No, I would not recommend this to a friend

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    • Dec 10, 2018

      RISE Support Team, Customer Service

      Thank you for contacting us in regards to your recent concerns. We would like to further review your account in regards to the provided information. Please email us at rise_spokesperson@risecredit.com so that we can locate and review your account.

      Thank You,

      Rise Credit

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  • 3 out 3 people found this review helpful

    Don't do it!

    • Dec 5, 2018
    • Verified Reviewer

    I took out a loan for $800. I will say the process of application and decision went smoothly and quickly. I got the funds in my account the next day. I paid off the entire loan BEFORE my due date and was DENIED for a second loan! Nothing had changed on my credit report in the nine days I had my loan.

    Bottom Line: No, I would not recommend this to a friend

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    • Dec 5, 2018

      RISE Support Team, Customer Service

      Thank you for reaching out to us in regards to your recent experience. We regret to hear that we were unable to approve a new loan for you at this time. To receive additional information as to this cause, please email us at rise_spokesperson@risecredit.com so that we can locate and review your account and provide you with this information.

      Thank You,

      Rise Credit

    • Mar 4, 2019

      James B.

      Very slow credit bureau reporting, curiously missing to report I paid my loan in full. Their regular reporting date to Experian was two days later, but they somehow failed to report anything to the bureau about my account. My credit report still shows my balance as of 1/16/2019.

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  • 4 out 4 people found this review helpful

    In 3 payments I paid $465 and my principal only went down $30! This company should be illegal!

    • Albuquerque, NM,
    • Nov 21, 2018
    • Verified Reviewer

    This company takes advantage of people in need! The contract says different then what they do to you.

    Don’t under any circumstances borrow money from this criminals. This company should be illegal!

    Bottom Line: No, I would not recommend this to a friend

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    • Nov 26, 2018

      RISE Support Team, Customer Service

      We’re sorry to hear of your dissatisfaction with your Rise Credit loan. Rise is designed to provide you with funds at the best possible price if other forms of credit are not available or are more expensive. Rise fully discloses all interest and fees associated with your Rise Credit loan prior to signing the loan agreement. We also provide a five-business-day rescission policy in the event that you decide Rise is not for you. We also advise you to pay your loan in full as quickly as possible to save on the interest. Please contact us at (866) 580-1226 or rise_spokesperson@risecredit.com if you have any further questions or if you need assistance.

      Thank you,

      Rise Credit

    • Dec 2, 2018

      Craig Y.

      Do NOT do business with this company. I got a loan for $800, and I can say the process went smooth and quick. I got my money the next day. I paid my entire loan off before the due date. I went back and was going to take another small loan and BAM, I was denied. They gave me the same BS on why I was denied. Nothing had changed on my credit report in the nine days that I had the loan. They are suspects. If you take out a loan and want to do business with them again, it is highly unlikely that you will get a second loan, even if you pay the entire loan off before it is due! They are not the only game in town. I will give my business to someone else.

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  • 9 out 9 people found this review helpful

    Yes - it's a scam

    • Ocala, FL,
    • Nov 10, 2018
    • Verified Reviewer

    Just another scamming high interest loan company. They actually send out letters saying your pre-approved and make you give them all your personal information, and then tell you that you're not qualified. In the next days after the inquest, you will get texts and emails from people you've never heard from. And more high interest scammers promising you great deals.

    Don't do it. This is the same as an Indian tribal loan with 985% interest.

    Bottom Line: No, I would not recommend this to a friend

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    • Nov 10, 2018

      RISE Support Team, Customer Service

      Thank you for reaching out to us in regards to your concerns. A pre-approval is not a guaranteed approval. A pre-approval is an invite that criteria may be met for a loan or line of credit. We regret to hear that we were unable to approve a new loan for you at this time. If you would like additional information as to the cause of a decline, please email us at rise_spokesperson@risecredit.com.

      Thank You,

      Rise Credit

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  • 4 out 4 people found this review helpful

    Stay away from this company

    • Ohio,
    • Oct 28, 2018
    • Verified Reviewer

    I took a short-term loan out, paid it off 2 months earlier, and then they denied me for another loan. Stay away from this company, very bad, bad customer service. They claim that they pulled a credit, but my credit actually has gone up 30 points since I ever took a loan out with them, so that's just an unacceptable excuse. Bad, bad business practices from this company. Stay far away.

    Bottom Line: No, I would not recommend this to a friend

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    • Oct 29, 2018

      RISE Support Team, Customer Service

      We regret to hear of your dissatisfaction with Rise Credit. We would be happy to review your account with you and all repayment terms. You may reach us by phone at 866-580-1226 or via email at rise_spokesperson@risecredit.com.

      Thank you,

      Rise Credit

    • Nov 13, 2018

      Gary E.

      Hey, they sent the same message to three other people they scammed. I was refused because I wasn’t at my bank long enough, five years! They need to change the robotic response a little more often.

    • Dec 2, 2018

      Craig Y.

      They just did the same thing to me. I paid my loan off in full before my due date. I went back to take out another loan and bam, denied! Usually, when you pay off your bills on time, or even before they are due, you usually get rewarded because you're responsible. NOT with this company.

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  • 5 out 5 people found this review helpful

    Bad customer services and unprofessional with bad attitude

    • Middleton, WI,
    • Oct 21, 2018
    • Verified Reviewer

    I have taken out a $1600 loan with a bi-weekly payment of $180. I took out this loan in June 2018 and I have decided to pay off this October 2018, which I did. So during my call to make a full payment, the customer service representative seemed like I did something horrible to her. So I had respectful said to her that thank you and that I call back again in order to avoid such unprofessional, rude customer service representative. But that was the biggest mistake I have done. Because the next person I got on the phone was even worse than the first one in terms of rudeness and unprofessional. So I have decided to deal with her in order not to call ever again. I will urge and appeal to even my worst enemies not to take a loan from Rise Credit! Their overall loan is bad and a Rip-off.

    Bottom Line: No, I would not recommend this to a friend

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    • Oct 22, 2018

      RISE Support Team, Customer Service

      Thank you for reaching out to us in regards to your recent experience. We regret to hear that you did not receive the customer support that you should have. We would like to research this issue further and have these issues addressed. Could you please email directly at rise_spokesperson@risecredit.com so that we may locate and review your account for these calls.

      Thank you,

      Rise Credit

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  • 3 out 4 people found this review helpful

    No thank

    • New Mexico,
    • Oct 12, 2018
    • Verified Reviewer

    I was dealing with a lot during the time I took out the loan, a death in the family, and we needed money, so when I got the offer for pre-approved, I thought this was a Godsend. We borrowed $2500, but now we are paying double the original amount we asked for, putting us further in a financial hole. Would I ever use Rise again? No way. Once this is done a year from now and after a $5200 payoff, I would never use this loan sharking company again, and would not refer any of my friends. Hey, I like to keep them as friends.

    Bottom Line: No, I would not recommend this to a friend

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    • Oct 12, 2018

      RISE Support Team, Customer Service

      We’re sorry to hear of your dissatisfaction with your Rise Credit loan. Rise is designed to provide you with funds at the best possible price if other forms of credit are not available or are more expensive. Rise fully discloses all interest and fees associated with your Rise Credit Loan prior to signing the loan agreement. We also provide a five-business-day rescission policy in the event that you decide Rise is not for you. We also advise you to pay your loan in full as quickly as possible to save on the interest. Please contact us at (866) 580-1226 or rise_spokesperson@risecredit.com if you have any further questions or if you need assistance.

      Thank you,

      Rise Credit

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  • 6 out 6 people found this review helpful

    Illegal lending to elderly with no income

    • Phoenix, AZ,
    • Sep 7, 2018
    • Verified Reviewer

    I just obtained POA for my elderly mother's finances. When I went into her checking account, I saw that she recently received a $1,500 deposit from Rise. She was too proud to tell me she was struggling, got a preapproved offer from Rise, and went for it thinking they'd approve her for $500 or something. At 77 years old, she lives on only her meager $600 social security checks each month. Yet somehow, Rise approved her for a $1,500 loan this month. Um. She gets $600 a month?! And the interest rate is downright obscene. So now, they'll take more than half of her monthly income for the next year until the loan plus interest is paid.

    The fact that Rise approved her on $600 a month income derived solely from Social Security is the epitome of predatory lending. Not to mention, she lives in Arizona where Rise supposedly does not even do business. Not sure how that happened - her income statement, drivers license, etc. all show AZ as her place of residence. I've just contacted the Attorney General in Arizona, and am going to make sure I cause as much ruckus as I can about this company and their illegal tactics to prey on seniors.

    Bottom Line: No, I would not recommend this to a friend

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    • Sep 7, 2018

      RISE Support Team, Customer Service

      Rise appreciates your concerns and encourages your mother to contact us at 866-580-1226 so that this issue can be resolved.

      Thank you,

      Rise Credit

    • Sep 21, 2018

      Edward B.

      If not licensed in your state, there may not be a legal contract. You may want to check.

    • Dec 20, 2018

      Thomas K.

      Please, please tell me you reached out to the attorney general. We need to take down this company before they break anyone else's financial life.

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  • 6 out 6 people found this review helpful

    Rise isn't loyal to existing customers

    • Atlanta, GA,
    • Aug 16, 2018
    • Verified Reviewer

    I have had three loans with this group and always worked to pay in a timely manner. My existing loan is eight months in and I have never missed a payment. Due to an emergency situation, I asked to refinance my existing loan for the extra cash and I was told that refinancing is computer generated only. That is total hogwash! You would think they would want to keep good paying customers, not Rise. Where is the loyalty to good paying customers?

    Bottom Line: No, I would not recommend this to a friend

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    • Aug 16, 2018

      RISE Support Team, Customer Service

      Thank you for reaching out to us. We regret that you have not been provided the option to refinance your current loan at this time. The option to refinance is a system generated a decision. Once your account becomes eligible, you will be notified via email. You will also be able to view this by logging into your account on www.risecredit.com. At this time, we are unable to determine when anyone account may become eligible for this option. At this time, your account is not eligible for this option. Please watch your email and your Rise Credit account for this important update.

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  • 6 out 6 people found this review helpful

    Deceitful bait and switch marketing

    • Austin, TX,
    • Aug 10, 2018
    • Verified Reviewer

    I received an unsolicited letter from RISE stating I have been "pre-approved" for a $1,000 loan and this is a "firm offer of credit." When I applied for a loan, I was turned down. Nothing on my credit report had changed since I received the pre-approval. I met all the requirements regarding the "firm offer of credit." I had not moved, incurred more debt, lost my job, or done anything that would change my fiscal obligations. Now there is a hard inquiry on my credit reports and RISE refuses to remove it.

    Bottom Line: No, I would not recommend this to a friend

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    • Aug 13, 2018

      RISE Support Team, Customer Service

      Thank you for reaching out to us in regards to your recent concerns. When a "pre-approval" letter is received, this is an invitation to apply for a loan and not a guarantee of approval. Once the application is fully submitted, this will process a hard inquiry as stated on the website. The pre-approval does not process the hard inquiry and is based on general information that you may be eligible for a loan. If you have any additional questions or concerns, please do not hesitate in contacting us at 866-580-1226 or via email at rise_spokesperson@risecredit.com.

      Thank You,

      Rise Credit

    • Aug 13, 2018

      Sue F.

      They continue to ignore the part of their marketing that violates laws. You stated in the pre-approval letter that this is a “firm offer of credit.” You lied about that. I’m filing a complaint with the CFPB. They will get to the bottom of this, and I will seek a class action lawsuit against them as well for your deceitful marketing practices.

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