I keep seeing bad reviews pointing at the cost of the loan and that some were turned down. The cost is no surprise - all the information is right up front. People with bad credit normally don't have many options. The fact that you can actually lower the interest if you stay in good standing is more than any other "bad credit lenders" are doing for you. I needed the money, wanted to save some dignity and not go through a loan process with a "normal" lender and then get turned down in the end. I do agree with the reviews saying this is a great short term solution, but I realize that some will need then entire term to pay back. You actually pay towards the principal, albeit not much, with your first payment. So, in my opinion, I don't this there is a better option out there for those with bad credit trying to get back on track.
Most Helpful Positive Review
Most Helpful Negative Review
This form of credit should be used only by those who are desperate for a quick cash fix for emergency use only! Not vacations, regular payments. Use this only if you are in dire need due to some vvery unforseen circumstances. I had the situation where I had a loan from Rise and several other online loan places, took an interitance to fix the situation. The interest they charge should be illegal. You are better going to a pawn broker or a relative rather that use them, due to their high rate of interest. You can easily pay back over double the amount that was loaned to you. If you must use this source, please pick a short loan term to keep total finance charges within reality.
That said, if you DO decide to use Rise, they are in my opinion, one of the better loan places out there.
Join the Credit Karma Community
It’s free, and you’ll get tools and info that can help you improve your financial health:
- Credit scores and reports
- Credit monitoring
- Personalized recommendations
**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.