Rise Credit Review: What You Should Know Before Borrowing

What Rise Credit Offers

Rise Credit offers unsecured installment loans ranging from $500 to $5,000. These loans are designed for borrowers with bad or poor credit who may not qualify elsewhere. Rise uses a bank partner model, working with Capital Community Bank and FinWise Bank to originate loans in 30 states. You can apply entirely online at https://www.risecredit.com, and if approved before 6PM ET, you might receive funds as soon as the next business day. Rise does not state whether it conducts a hard or soft credit check, but it targets those with less-than-perfect credit. You can choose your payment schedule, and there is no prepayment penalty if you pay off your loan early. Additional features include a 5-Day low-risk Guarantee (allowing you to cancel and return the funds within five days without fees) and free credit score monitoring through Credit Score Plus.

The Real Cost of a Rise Credit Loan

Rise Credit does not publicly disclose its APRs. This is a major red flag. The rates are ‘customized per customer,’ and you have to dig into their state rates page to find even a range. Multiple borrower complaints and reviews describe Rise loans as expensive, with high rates typical of subprime lending. Some third-party sources and complaints suggest APRs can exceed 200% in some states. For context, if you borrow $1,000 at a 200% APR and pay it back in a year, you could end up repaying more than $2,000 total. That’s several times what you’d pay with a credit union loan, payday alternative loan (PAL), or even some credit cards. Origination, late, and NSF fees are not stated, so you don’t know upfront what additional costs you might face. For anyone considering Rise because they have no better options, this is one of the most expensive ways to borrow. If you have access to alternatives like payday alternative loans from a credit union, a local nonprofit lender, or even negotiating a payment plan with your creditors, those will almost always cost far less.

Who Should Consider Rise Credit—and Who Should Not

Rise Credit is aimed at borrowers with poor or bad credit who have been turned down elsewhere. If you have no access to more affordable credit and need cash quickly, Rise may be one of the few options available. However, the extremely high cost means you should exhaust all other possibilities first. This includes payday alternative loans, local credit unions, payment plans, or even asking your billers for hardship assistance. If you can qualify for any mainstream personal loan, credit card, or secured loan—even at a high rate—it will almost always be cheaper than Rise. If you have decent credit or any alternative, you should look elsewhere.

Ratings and Reputation: What Borrowers Say

Rise Credit’s reputation is mixed. Its Better Business Bureau (BBB) profile is not prominent and it is not accredited. On Trustpilot, Rise holds a 4.3 out of 5 score, based on over 5,800 reviews. Many positive reviews mention fast funding and ease of use, but negative reviews consistently focus on the high cost and expensive repayment terms. Numerous borrowers describe the loans as a last resort and warn about paying back far more than they borrowed. While the Trustpilot score is relatively high, be aware that review platforms can be skewed, and the lack of a strong BBB presence is notable.

Red Flags and Concerns

The biggest concern with Rise Credit is the lack of transparency around APRs and fees. Not disclosing the full cost up front makes it difficult to compare with other options or to know what you’re really signing up for. High APRs and expensive repayment terms are the most common complaints reported by borrowers. While there are no known regulatory actions against Rise or its bank partners at this time, the expense of the product and the nondisclosure of key terms should give you pause. You should also be aware that Rise reports to credit bureaus (details vary), so late payments can hurt your credit further, but on-time payments could help. Always check your loan agreement and the state-specific rates page before accepting any offer.

The Bottom Line: Pros and Cons of Rise Credit

Rise Credit provides quick access to cash for those with poor credit, but that access comes at a very high price. The lack of upfront APR disclosure and unclear fee structure are major red flags. If you’re considering Rise, understand that the true cost may be far greater than you expect—potentially more than double or triple what you borrow. While Rise’s features like a 5-Day low-risk Guarantee and flexible payment schedules are nice, they do not make up for the extremely high cost. Only consider Rise if you have absolutely no other options and need emergency cash. Otherwise, look for payday alternative loans, local credit union products, or nonprofit lenders as far less expensive alternatives.

Frequently Asked Questions

Does Rise Credit charge a prepayment penalty?

No, Rise Credit does not charge a prepayment penalty. You can pay off your loan early without any additional fees, which can help you save on interest if you’re able to do so.

What is the APR on a Rise Credit loan?

Rise Credit does not disclose its APRs up front—a significant concern. Rates are customized and can be extremely high, sometimes over 200%. Always check the state rates page and your loan agreement before accepting any offer. If you don’t see the APR clearly stated, ask before proceeding.

Does Rise Credit report to credit bureaus?

Yes, Rise Credit states that it reports to credit bureaus, although the details may vary. On-time payments can help build your credit, but missed or late payments can damage it further.