MoneyGeek’s Take

RISE Personal Loan Lender Review

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ByChristopher Boston
Edited byVictoria Copans
ByChristopher Boston
Edited byVictoria Copans

Updated: December 27, 2023

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RISE is a unique personal loan lender, especially helpful for those with past credit issues. It offers loans from $500 to $5,000 with a rapid application process and no fees for application, origination or prepayment. However, its high APR rates starting around 60% could be a drawback for some. RISE is best suited for borrowers needing quick funds for emergencies or small expenses, who may not have the credit score typically required by other lenders.

  • Rise Credit

    • 59.8% to 299%APR Range
    • NoneMinimum Credit Score
    • $300 to $5,000Loan Amount Range
    • 6 to 36 monthsRepayment Terms
    • Next business dayTime to Receive Funds

    RISE can be a good personal loan lender for those who might not have perfect credit but need financial support. It doesn't charge application, origination or prepayment fees, meaning more of your money stays with you, reducing the overall cost of your loan.

    The rapid application process and immediate decision are also big pluses. Flexible repayment terms allow you to choose a schedule that fits your budget. Whether you want to pay off your loan quickly or need more time, RISE accommodates your financial situation.

    Its A+ BBB rating is a testament to its commitment to customer satisfaction and reliability. With RISE, you're not just getting a loan — you're partnering with a lender that understands and caters to your unique financial needs.


    • No application, origination or prepayment fees
    • Rapid application process and quick decision
    • Flexible repayment terms
    • Requires a good credit score
    • Repayment assistance options available


    • High APR rates
    • Limited loan amounts
    • No option for co-signers or co-applicants
    • Not available in all states
    • Paper check option delays funding (7–10 days)
    Rise Credit

Features of RISE Personal Loans

A personal loan from RISE can help you with various financial needs, from debt consolidation to unexpected expenses. It has clear terms and fees, ensuring no surprises. Loans come with different repayment periods, fitting diverse budgets. RISE also supports borrowers with repayment options if challenges arise. Its customer service and online platform enhance your loan management experience, simplifying processes like application and payment. By understanding these features, you can decide if RISE aligns with your financial goals and make an informed choice for your personal loan needs.

What You Can Use Your Funds For

While RISE offers flexibility regarding how you can use your funds, remember that you can't use the loan for tuition. Here's a closer look at what you can do with a RISE loan:

  • Auto Repairs: If your car breaks down or needs maintenance, a RISE loan can cover these expenses, ensuring your vehicle stays reliable for work or daily activities.

  • Home Repairs: Use your funds for essential home repairs, whether it's fixing a leaky roof or upgrading your heating system. This investment not only improves your living conditions but can also increase your home's value.

  • Medical Bills: Medical emergencies can arise without warning. A RISE loan can help you pay for treatments or procedures not covered by health insurance, relieving financial stress during tough times.

  • Emergency Expenses: RISE loans can help you manage unexpected costs like a family emergency or urgent travel.

  • Consolidate Payday Loans: If you're struggling with multiple high-interest payday loans, RISE can offer a more manageable solution by consolidating these debts into one lower-interest loan, simplifying your finances.

  • Moving Expenses: A RISE loan can cover moving costs, from hiring movers to buying new furniture, making your transition smoother.

With RISE personal loans provide the financial flexibility to handle various aspects of life. This versatility makes it an attractive option for those seeking a personal loan tailored to their specific needs and circumstances.

Loan Terms for a RISE Personal Loan

Understanding the terms of a RISE personal loan is crucial for making a decision that suits your financial situation. Here's what you need to know:

  • APR Range: RISE's APR, or annual percentage rate, starts at about 60%, which is higher than many traditional lenders. It also varies depending on where you live, so it's important to check the specific rates for your state. Remember, a higher APR means you'll pay more over time, so consider this when deciding how much to borrow.

  • Repayment Terms: You can choose a repayment period between six and 36 months. A shorter term means higher monthly payments, but you'll pay less interest overall. A longer term lowers your monthly payments but increases the total interest paid.

  • Loan Amounts: With RISE, you can borrow from $500 to $5,000, depending on your state, allowing you to borrow only what's necessary and avoid extra debt.

By understanding these terms, you can make a more informed decision, choosing a loan that aligns with your financial goals and circumstances.

Fees and Discounts for a RISE Personal Loan

RISE stands out by not charging some common fees, making it's loans potentially more affordable. Here are the fees RISE doesn’t charge:

  • Application Fee: RISE does not charge an application fee, meaning you can apply for a loan without any upfront costs.

  • Origination Fee: Many lenders charge an origination fee for processing a new loan. RISE does not, which reduces your initial costs.

  • Prepayment Fee: If you decide to pay off your loan early, RISE does not penalize you with a prepayment fee, allowing you to save on interest if you pay the loan off sooner than planned.

With no application, origination or prepayment fees, RISE personal loans can be a cost-effective option depending on the loan terms and APR you qualify for.

RISE Personal Loan Repayment Assistance

When facing financial hurdles, it's good to know what repayment assistance options your lender offers. It can ease the stress of meeting payment deadlines, especially during tough times.

If you're struggling to make a payment on time, RISE encourages you to contact its customer support. It offers a few options to help:

  • Payment Extensions: Sometimes, you might just need a few extra days. RISE offers payment extensions, providing more time to gather your funds. Remember, though, that interest will continue to accumulate on any overdue amounts.

  • Defer a Payment: If you're eligible, you can defer a payment. Simply log in to your account and check the "Defer Payment" option to see if you qualify.

RISE's support options reflect its commitment to helping you manage your loan responsibly, even during challenging times. This kind of assistance can make a difference when choosing a lender.

RISE Customer Service

When choosing a personal loan lender, consider its ability to provide quality customer service. Good support means getting help when you need it, making your loan experience smoother. RISE offers various ways to connect:

  • Phone Support: You can call Team RISE at (866) 580-1226. They're available Monday to Friday, from 8 am to 5 pm Eastern Time, to answer your queries or resolve issues.

  • Email: Email support is available at for less urgent matters. It's a convenient way to get your questions answered without waiting on the phone.

Good customer service ensures you have a reliable point of contact for any loan-related queries or concerns. RISE has a 4.5/5 Trustpilot rating from over 4,575 reviews, with 81% rating it five stars, so it's clear that many customers are satisfied with its service.

RISE Personal Loan Online Resources

Choosing a personal loan lender is also about accessing resources to improve your financial knowledge and habits. Here's what RISE offers and why these can be valuable:

  • Credit Score Plus: A free service for RISE account holders, providing access to your TransUnion® credit score and credit alert notifications. Regularly monitoring your credit standing is key to maintaining and improving your financial health.

  • Online Tools: RISE provides several helpful tools:

    • A budgeting tool to track monthly spending, crucial for financial planning.
    • A tool to help set saving goals, preparing you for unexpected expenses.
    • An interactive debt management tracker, simplifying the process of organizing and understanding your debts.
  • Educational Videos: Engaging videos covering fundamental financial topics, helping you to make smarter financial choices.

RISE's comprehensive online resources not only assist during your loan period but also provide valuable knowledge and tools for long-term financial wellbeing.

Qualifying for a RISE Personal Loan

Understanding the eligibility criteria for a RISE personal loan before applying helps you gauge your chances of approval. It allows you to ensure you meet all requirements, saving time and effort. RISE is particularly accommodating to those who have faced credit challenges in the past or are yet to build a strong credit score.

To qualify for a RISE loan, consider the following:

  • Age Requirement: You must be at least 18 years old — a standard requirement for most financial agreements.

  • Residency: You need to live in a state where RISE operates. In addition, each has its own financial regulations.

  • Income Source: A job or a regular income source is necessary as it shows RISE you have the means to repay the loan.

  • Checking Account: You must have an active and valid checking account (not a savings and prepaid account) for loan deposits and repayments.

  • Email Address: You need an email address for receiving account information and communications.

Knowing these criteria can help you understand if a RISE loan is the right fit for your situation and prepare you for the application process.

Is a RISE Personal Loan Right For You?

Deciding if RISE is the right personal loan lender for you is about matching what it offers — from loan terms to repayment options — to what you require financially. Making this choice carefully can save you from stress and financial strain in the long run.

Who Can Benefit From a Personal Loan From RISE

Individuals with past credit challenges may see RISE as a solid option. It specializes in lending to those who may not have a strong credit score, offering a chance to secure funding where traditional lenders might not. It's also a good option for those working towards rebuilding their credit.

Those needing quick funds for emergencies or unexpected expenses may also find RISE advantageous. With its rapid application process and quick decision-making, RISE is well-suited for situations that require immediate financial attention. RISE may also be a good fit for borrowers seeking small to medium loan amounts as it offers loans ranging from $500 to $5,000.

Who Shouldn’t Secure a Personal Loan From RISE

RISE might not be the best choice for borrowers with good to excellent credit. Since its APR starts around 60%, individuals with strong credit profiles can likely find more competitive rates with other lenders.

Similarly, RISE might not suit those seeking a co-signer or co-applicant option. It can be a critical feature for some borrowers seeking to strengthen their loan application or secure better loan terms with the help of another individual's creditworthiness. People who prefer traditional banking may also find RISE's online-centric approach less appealing.

How to Apply for a RISE Personal Loan

Applying for a RISE personal loan is a straightforward process, and knowing each step can make it even easier for you and minimize any confusion or delays.

Here are the steps to getting a RISE personal loan:

Apply Online

Start by filling out the application form on RISE's website. The process is quick, easy and secure, designed to fit your schedule.

Get Your Instant Decision

Once you submit your application, RISE typically responds within minutes. However, it might request additional information or proof of income to complete your application.

Select Your Loan Amount

After approval, you decide how much you want to borrow, up to the amount you're approved for. Remember, it may vary based on your state of residence.

Choose Your Terms

RISE offers flexible payment options, allowing you to tailor the loan to your financial situation. You can even choose to pay off your loan early without incurring additional fees, potentially saving on overall costs.

Receive Your Funds

If your application is submitted and approved by 6 pm ET, RISE can deposit the funds into your checking account as soon as the next business day, provided you've agreed to ACH authorization. If you prefer a paper check, expect a seven- to 10-day wait via USPS.

RISE gives you the option to return the principal amount within five business days without any fees if you decide you no longer need the loan.

What to Do If You’re Denied

Being denied a personal loan from RISE can be disheartening, but it’s far from the end of your financial journey. You can take steps to understand this decision and explore other options.

  • Understand the Reasons for Denial: RISE will provide a reason if your application is denied. Knowing the reason can help you address specific issues, whether it's your credit score, income level or debt-to-income ratio.

  • Boost Your Financial Profile: Work on improving your credit score and lowering any existing debt. This might involve paying bills on time, reducing credit card balances or finding ways to increase your income.

  • Look for Alternative Financing Options: Explore other lending institutions that might have different criteria. Credit unions, community banks or online lenders could be viable options. Peer-to-peer lending platforms or short-term loans from fintech companies might also suit your needs.

  • Seek Professional Financial Advice: Consider consulting a financial advisor. They can provide personalized advice on improving your creditworthiness and finding suitable financing options based on your unique financial situation.

These steps can help you prepare for a future loan application or find alternative solutions to meet your financial needs. Take the denial as an opportunity to reassess and strengthen your financial standing.

FAQ About RISE as a Personal Loan Lender

To help you better understand RISE as a personal loan lender, we've compiled a list of frequently asked questions to provide clarity on common queries, ensuring you have all the necessary information to make informed financial decisions.

Does RISE have restrictions on how you can use your funds from a personal loan?
What is the minimum credit score requirement for a RISE personal loan?
How long does RISE take to approve a personal loan?
Does RISE have a mobile app?
Is a RISE personal loan secured or unsecured?
How much can I borrow using a RISE personal loan?
What fees will I encounter with a RISE personal loan?
How does applying for a RISE personal loan affect my credit score?
Does RISE offer an autopay discount for personal loans?
Can you have co-signers on a RISE personal loan?

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.