ADVERTISER DISCLOSURE
Close
Rise Personal Loan Review 2025
Rise Credit can help you get a personal loan even if your credit score is poor. The service charges no fees for loan processing, late payments, or early loan repayment. Their installment loans have flexible repayment terms and loan amounts that are convenient for both small financial emergencies and larger purchases or life projects. Still, their interest rates tend to be very high.
Rise Personal Loans Review
Pros
- Quick access to loan funds;
- No prepayment penalties;
- No origination and late fees;
- Flexible monthly payments;
- Free loan cancellation within 5 days;
- Reports on-time payments to major credit bureaus;
- Borrowers with any credit can qualify.
Cons
- High interest rates;
- Small loans amounts;
- Hard credit checks are performed;
- Not available in all states.
What Do You Need to Know About Rise Personal Loans?
Before you get a personal loan from Rise, consider the following information about this service:
Bad Credit Borrowers are Welcome
Unlike traditional lenders, Rise accepts applicants with bad credit scores. You may receive up to $5,000 and repay the funds within up to 36 months in convenient monthly payments. However, interest rates can reach three-digit numbers, making Rise loans one of the most expensive options on the market.
Rise Reports Payments to Major Credit Bureaus
Rise will report your monthly payments to credit bureaus, meaning that you can increase your score if you pay on time.
Hard Credit Checks Are Performed
Rise Credit runs a hard credit check to estimate your overall financial behavior and make an approval decision. This may affect your credit score by 5 to 10 points. However, you may get back on track within a few months of on-time payments.
Not Available in All States
Rise is not available across the US as the company can’t meet lending laws and regulations in some states. Now, the service operates in 29 states.
Rise Personal Loan Benefits
Free-Cancel Option in 5 Days
You can cancel your loan by calling (866)580-1226 before 5 pm no later than the fifth weekday after signing. This way, you will only have to repay the original amount borrowed without any extra fees or interest added.
No Extra Fees
The service has no charges for loan processing, late payments or early repayment. You can rest assured you won’t be charged anything except for your loan interest rate.
Fast Application Procedure
You’ll benefit from a quick online application process that doesn’t imply any useless paperwork or faxing.
Free Credit Score Check
Applicants get free access to their credit score updates through free credit monitoring alerts provided by the Credit Score Plus feature.
Who is a Rise Loan Good for?
Rise is suitable for bad credit borrowers who need money as soon as possible. Their loans are typically funded on the next business day. Plus, their deals may also suit people who want to improve their credit by making on-time loan payments. Just keep in mind that interest rates can be very high, making your loan more expensive than you expect.
Rise Loan Requirements
To apply for a Rise loan, you need to meet the following eligibility criteria:
How to Apply for Rise Loans?
The application process is quite straightforward when you apply for a personal loan from Rise. Here are a few steps you should take:
- Gather all the needed information we mentioned above.
- Complete the loan request form, providing your personal, contact, financial, and banking details.
- Get an approval decision. If approved, choose your own terms. Please note that state restrictions may apply to repayment schedule options.
- Receive the funds in your bank account as soon as the next business day.
How to Contact Rise
Rise offers customer support seven days a week over the phone. You can contact the company by calling (866) 580-1226 Monday through Friday, 8 a.m. to 11 p.m. ET, and Saturday to Sunday, 9 AM to 6 PM.
Alternatives for Rise Personal Loans
If you want to check the other options besides Rise Credit loans, consider offers provided by the following companies:
| Rise Credit | OppLoans | SoFi | OneMain Financial | |
|---|---|---|---|---|
| Our Rating | 4.0 | 4.0 | 4.5 | 4.5 |
| APRs | 58.90% – 299.00% | 160% – 195% | 8.99% – 29.49% | 18% – 35.99% |
| Fees | No fees for loan processing, late payments, and early repayment | No origination, late, or prepayment feesNSF fees may vary by state | Optional 6% fees | Origination fees of 1% to 10% |
| Minimum Credit Score | None | None | Not Specified | None |
| Loan Amounts | $300 – $5,000 | $500 – $4,000 | $5,000 – $100,000 | $1,500 – $20,000 |
| Repayment Terms | 7 to 36 months | 9 to 18 months | 24 to 84 months | 24 to 60 months |
| Funding Times | Next business day | 1 business day | 1 business day | Within 1 business day of approval via a direct deposit or within several hours for transfers to a debit card |
| Who It Suits for? | Poor credit borrowers who can’t qualify for traditional personal loans and want to improve their credit | Bad credit borrowers looking for last-resort financing options | Applicants with good to excellent scores who want to consolidate debt, make major purchases, or cover their long-term needs | Borrowers with credit issues who want to avoid predatory lenders |
Methodology
BadCredify’s team of experts examined lenders using a rigorous approach that focused on the following factors:
- Interest rates
- Extra fees
- Loans accessibility
- Eligibility requirements
- Repayment terms
- Customer experience and reviews
- Application process
- Funding times
After evaluating these parameters, we rank lenders by giving them up to 5 points for each considered category. Then, we give them a final rating with a maximum score of five stars.
Frequently Asked Questions
Does Rise check my credit score?
Yes, Rise Credit will perform a hard credit check as part of the approval process, which means your credit score may temporarily drop by 5 to 10 points.
When will I receive my personal loan from Rise?
You’ll receive your loan within one business day of approval.
Should I get a Rise credit loan?
It’s up to you. Rise loans may be a good option for bad credit borrowers who need money fast and want to rebuild their credit. However, they are quite expensive, so you need to be realistic about your repayment capabilities.
