We reviewed Its BBB rating, CFPB complaint history, licensing, and company background to answer this question honestly.
Rise Credit is operated by Elevate Credit, Inc., a publicly traded U.S. company licensed in every state where it operates. It is not a scam. However, its APRs are among the highest in the personal loan market.
Rise is operated by Elevate Credit, Inc. (formerly ELVT on NYSE). Public company status requires SEC disclosures, audited financials, and regulatory oversight.
Rise Credit holds an A+ rating from the Better Business Bureau, the highest possible grade. While not BBB-accredited, this rating reflects responsiveness to complaints.
Rise holds lending licenses issued by the financial regulatory agency of each state it operates in. Licenses are verifiable through your state's banking regulator.
In some states, Rise loans are issued by FinWise Bank or CCBank — FDIC-insured institutions — providing additional regulatory oversight.
Rise is legitimate — but expensive. Always use our calculator to understand the true cost before applying.
Calculate Your Loan Cost →Before providing any personal information to a lender, complete this five-step verification process. First, check the state licensing status through your state's Department of Financial Institutions website. Legitimate lenders must be licensed in every state where they operate, and license numbers should be publicly displayed on their websites.
Second, search the Consumer Financial Protection Bureau complaint database at consumerfinance.gov/data-research/consumer-complaints. All licensed lenders have some complaints; what matters is the volume relative to their size and how they respond. A pattern of unresolved complaints or repeated similar issues is a warning sign.
Third, check the Better Business Bureau profile at bbb.org. While BBB accreditation is voluntary and imperfect, established legitimate lenders typically maintain profiles and respond to complaints. New businesses without any BBB presence warrant additional scrutiny.
Fourth, verify the parent company. Most consumer lenders are subsidiaries of larger financial services companies, some of which are publicly traded and file audited financial statements with the SEC. This provides significant additional transparency and accountability.
Finally, look for red flags such as: refusal to provide written terms before application, pressure tactics or artificial urgency, requests for upfront fees, and reviews describing bait-and-switch pricing tactics. Any of these warrants immediate withdrawal from the application process.