RISE Personal Loans
in Personal Loans from Elevate CreditClaimed
RISE Personal LoansClaimed
in Personal Loans from Elevate Credit
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RISE Personal Loans Review
RISE Personal Loans is offered by Elevate Credit, a direct lender founded in 2014 and based in Ft. Worth, TX. RISE Personal Loans is available in 14 states across the USA.
- Fast access to cash. In some cases you can get your money within 1 business day.
- Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 300 are considered for RISE Personal Loans.
- Hard credit pull required. You can't check your rates or see if you prequalify for RISE Personal Loans without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
- No origination fee. RISE Personal Loans does not charge a loan origination fee.
- Short loan terms. RISE Personal Loans offers loan terms as short as 4 months. Most personal loans have a minimum term of 12 to 36 months.
RISE Personal Loans Pros and Cons:
What rates and terms does RISE Personal Loans offer?
RISE Personal Loans has higher interest rates than the average for lenders reviewed on SuperMoney.
What APR rate does RISE Personal Loans offer?
RISE Personal Loans offers a fixed APR personal loan product that ranges from 50% APR up to 299% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
How much can you borrow via RISE Personal Loans?
Loan amounts start at $300 and go up to $5,000.
What can a personal loan from RISE Personal Loans be used for?
Personal loans from RISE Personal Loans are typically used for special purchases, home improvement projects, weddings, medical expenses & procedures, unexpected expenses or similar purposes.
What is the maximum loan term you can get with RISE Personal Loans?
RISE Personal Loans offers personal loans with terms ranging from 4 to 26 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
|Loan Amount||$300 - $5000|
|Loan Term||4 - 26 months|
|APR||50% - 299%|
What fees does RISE Personal Loans charge?
Does RISE Personal Loans charge an origination fee?
RISE Personal Loans does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does RISE Personal Loans charge a late fee?
Yes, RISE Personal Loans may charge borrowers a late payment fee, which is triggered if you're 7 days late.
Does RISE Personal Loans charge prepayment fees?
No, RISE Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
|Late Payment Fee||N/A|
What do you need to qualify for RISE Personal Loans?The minimum age to be eligible is 18 or the state minimum, whichever is higher.
RISE Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. RISE Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the RISE Personal Loans product fall outside of the MLA limits and as a result the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by RISE Personal Loans. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid checking account
- Proof of citizenship or residence permit
|Bank Account Required?||Yes|
|Application Types Accepted||
|Credit Score||300 - 650|
What is the estimated funding time for a personal loan via RISE Personal Loans?
RISE Personal Loans will typically approve (or deny) a loan application within 24 hours and fund personal loans within 3 business days of approval.
Does RISE Personal Loans report your account activity to credit bureaus?
RISE Personal Loans reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.
- New Mexico
- North Dakota
- South Carolina
|No Origination Fee|
|No Prepayment Fee|
|Late Fee After||7 days|
|Checking Account Required|
|Employment Statuses Considered||
|Immigration Status Considered||
|Joint Loan Applications Accepted||Individual Applications|
|Supported Income Types||
|Verification Documents Required||Proof of citizenship/residence (Green Card)|
|Credit Score Range||
300 - 650
|Approval Speed||24 hours|
|Credit Bureau Reporting||TransUnion|
|Funding Time Range||1 - 3 days|
|Payment Options||Automatic Payments|
|Loan Amount||$300 - $5,000|
|APR (Fixed APR)||50% - 299%|
|Loan Term||4 - 26 months|