RISE Credit

RISE Credit is an online installment lender that offers loans to consumers with poor credit who may not qualify for conventional bank or credit union financing. RISE is operated by Elevate Credit, Inc. and targets borrowers in the subprime segment. It operates in a limited number of US states, as many states have laws that restrict high-rate installment lending.

RISE positions its product as a step up from payday loans, offering longer repayment terms, the ability to build credit through on-time payments, and a stated goal of helping borrowers qualify for lower-cost products over time. RISE reports payment activity to the credit bureaus, which can help establish or improve your credit profile if you pay on time.

However, the annual percentage rates on RISE loans are significantly higher than those on personal loans from banks, credit unions, or mainstream online lenders. Rates in the triple digits are possible depending on the state and loan terms. Before accepting a RISE loan, calculate the total dollar amount you will repay over the full loan term. This is the clearest way to understand the real cost.

Before applying to RISE, explore lower-cost alternatives. Credit unions and Community Development Financial Institutions often provide small-dollar loans to consumers with limited or poor credit at far lower rates. Nonprofit credit counseling agencies may also help you assess your options.

If you do borrow from RISE, borrow only the minimum you need, repay as quickly as possible to reduce total interest paid, and look to transition to lower-cost credit once your credit profile improves. Review all terms including the full APR before accepting any offer.