Answers to the most common questions about Rise Credit personal loans.
Rise Credit is an online personal loan lender operated by Elevate Credit, Inc. It offers installment loans from $500–$5,000 for borrowers with bad or fair credit. Unlike payday loans, Rise loans have fixed monthly payments and defined repayment terms of 4–26 months.
Yes. Rise Credit is a legitimate lender operated by Elevate Credit, Inc., a publicly traded company. Rise holds an A+ BBB rating and is licensed in each state where it operates. Read our full legitimacy check →
Rise does not disclose a minimum credit score. Most approved borrowers have scores in the 550–630 range. Rise evaluates your full financial profile, including income and existing debt, not just your credit score.
Rise offers loans from $500 to $5,000. The minimum loan amount varies by state (Georgia has a $3,100 minimum, for example). The maximum is $5,000 in all states.
Rise APRs range from 59.80% to 299%, depending on your state of residence, creditworthiness, and income. Georgia borrowers may qualify for rates near 60%, while Texas borrowers may face rates above 150%.
For applications approved before 6 PM ET on a business day, funds are typically deposited the next business day. Rise's automated decision process can approve applications in minutes.
Pre-qualifying uses a soft credit pull — no score impact. A hard credit inquiry only occurs when you formally accept a loan offer, which may cause a small, temporary score decrease.
Yes. Rise reports payment history to Experian and TransUnion — two of the three major credit bureaus. Note: Rise does not report to Equifax. On-time payments can help build your credit over time.
Yes, with no prepayment penalty. Paying early saves you significant interest at Rise's high APRs. We strongly recommend making additional payments whenever possible.
If you change your mind after accepting a Rise loan, you can return the principal within 5 business days (before 5 PM ET on the fifth day). You'll repay only the principal — no interest or fees charged.
Rise Credit operates in 30 states. States NOT covered include CA, CO, IL, NY, PA, WA, and others. See the full state list →
Rise typically schedules payments biweekly, aligned with your pay schedule. This means approximately 26 payments per year rather than 12 monthly payments. This is different from most personal loans.
Possibly. Rise serves thin-credit and no-credit borrowers in some cases, though approval depends heavily on income. If you have no credit history, Rise is one option — but a secured credit card or credit-builder loan from a credit union may be a better path.
Rise has historically offered rate reductions and refinancing opportunities for repeat customers with good payment history. However, this benefit is not prominently advertised on their current website. Ask Rise directly if you're an existing customer.
Credit Score Plus is Rise's free credit monitoring service available to all customers and applicants. It lets you view your credit score and receive alerts when your score changes or a hard inquiry is made on your report.