
About Bankrate Score
Rise is a Texas-based online lender that offers unsecured installment loans for nonprime borrowers who have little to no savings and cannot qualify for funding with traditional banks or credit unions.
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About Bankrate Score
Rise is a Texas-based online lender that offers unsecured installment loans for nonprime borrowers who have little to no savings and cannot qualify for funding with traditional banks or credit unions.
Rise can be a good option for borrowers with poor credit, as the lender does not specify a minimum credit score requirement. This means that borrowers with poor credit may be eligible for a Rise loan. But the steep interest rates and limited state availability make it a risk, so it is best for bad credit borrowers who can't qualify elsewhere.
Caters to consumers with bad credit
Swift application and approval process
Low minimum loan amount
Rapid funding
Steep interest rates
Low maximum loan amount
Short repayment period
While Rise does not disclose any specifications when it comes to credit. But there are a few other requirements. You must:
Consider the whole of what Rise has to offer, steep interest rates included, before submitting a loan application.
You must apply online for Rise personal loans, and it’s possible to get a decision from the lender within minutes. The lender could also request income documentation before approving your application. If you’re approved, you could get funds in your bank account as soon as the next business day.
Rise offers its customers a five-day risk-free guarantee. So if you decide that a loan with Rise isn’t right for you, you can get refunded.
Rise doesn’t charge origination or application fees, and there’s no prepayment penalty if you pay off your loan early. You’ll also get a seven-day grace period before you’re charged a late-payment fee.
Score | Explanation | |
---|---|---|
Overall | 4.4 | |
Availability | 4.8 | Rise has a low minimum loan amount and a quick funding timeline. |
Affordability | 3.5 | Rise’s APR’s are sky-high, and it does not disclose its fees. |
Customer experience | 5.0 | Rise has good customer support options, with agents available seven days a week. |
To select the top personal loan lenders, Bankrate considers 15 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed 41 lenders and gave each a Bankrate rating, which consists of three categories:
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.