Everything you need to know about Rise Credit loans — rates, eligibility, real costs, and when to look elsewhere.
Rise Credit is an online personal loan lender operated by Elevate Credit, Inc., a Fort Worth, Texas-based fintech company founded in 2013. Rise specializes in installment loans for non-prime and subprime borrowers — people who cannot qualify for traditional bank loans due to limited credit history or past financial setbacks.
Unlike payday loans, Rise offers structured repayment terms ranging from 4 to 26 months, with a fixed monthly payment and a defined payoff date. Rise is available to residents of 30 states and has served over 1 million customers since its founding.
| Loan Amounts | $500 – $5,000 (varies by state) |
| APR Range | 59.80% – 299.00% |
| Loan Terms | 4 – 26 months |
| Origination Fee | None (in most states) |
| Late Fee | None |
| Prepayment Penalty | None |
| Funding Speed | As soon as next business day |
| Credit Check (Pre-qual) | Soft pull only |
| Min. Credit Score | None specified (~550+ typical) |
| Credit Bureau Reporting | Experian, TransUnion (not Equifax) |
Rise does not publish a minimum credit score. Based on third-party analysis, most approved borrowers have scores in the 550–630 range. Rise evaluates your full financial profile, including:
Basic requirements: U.S. citizen or permanent resident, 18+ years old (19+ in Alabama and Nebraska), valid checking account, active email address, and regular income source.
Rise earns strong marks for accessibility (bad credit accepted, no minimum score) and funding speed. Its low Affordability score reflects APRs that are among the highest in the personal loan industry. Most borrowers who can qualify elsewhere should do so.
Soft pull only — won't affect your credit score
Soft credit check — no score impact
Rise Credit is operated by Elevate Credit, Inc., a Texas-based financial technology company founded in 2014 as a spinoff from Think Finance. The company went public on the New York Stock Exchange in April 2017 under the ticker ELVT. Elevate specializes in serving what it calls "non-prime" consumers — borrowers with credit scores typically below 700 who have historically been underserved by traditional banks and credit unions.
The Rise Credit product line launched in 2013 as an alternative to storefront payday lenders and title loan operators. Unlike payday loans, Rise offers longer repayment terms (up to 26 months in some states) and reports payment history to major credit bureaus — TransUnion, Equifax, and in some cases Experian — allowing responsible borrowers to build or rebuild credit over time.
As of 2026, Elevate has originated over $10 billion in loans to more than 2.5 million customers. The company maintains partnerships with Republic Bank & Trust and Finwise Bank, which serve as the actual issuing lenders in most states. This bank partnership model allows Rise to offer loans in states where its direct license would otherwise be restricted.
Understanding Rise Credit's underwriting process is critical for setting realistic expectations. Unlike traditional lenders that rely primarily on FICO scores, Rise uses proprietary risk-scoring models incorporating over 10,000 data points. These include your banking transaction history (accessed via secure Plaid integration), employment tenure, monthly income, existing debt obligations, and residential stability.
Approval typically requires: (1) verifiable income of at least $1,200 per month after taxes, (2) an active checking account open for a minimum of 90 days, (3) a valid US ID, and (4) residence in one of the 30 states where Rise operates. Notably, Rise does not require a minimum credit score — borrowers with scores as low as 300 (or no credit score at all) have been approved based on income and banking history.
The soft-pull pre-qualification process typically completes within 60 seconds. If pre-qualified, you will see loan offers before consenting to a hard credit inquiry. This transparency is a significant advantage over lenders that only reveal terms after committing to a hard pull.
Rise Credit's APR range of 59.8% to 299% reflects the risk-based pricing typical of the non-prime lending market. For context, the average personal loan APR for prime borrowers (720+ credit scores) at traditional banks is 10-15%, while credit card interest rates average 21-24%. Rise operates in a segment where alternatives include payday loans (390-780% APR), pawn loans (240-300% APR), and title loans (300%+ APR).
The specific APR you receive depends on: your state of residence (some states cap rates at 36% or 99%), your credit profile (bank history, existing debt), the loan amount, and the requested repayment term. Longer terms typically result in lower APRs but higher total interest paid over the life of the loan.
Important: even at 149% APR (a common mid-range rate), a $2,500 loan repaid over 18 months costs approximately $4,150 in total — meaning you pay $1,650 in interest on top of the principal. Use our calculator to see your specific numbers before accepting any offer.
In the non-prime installment loan category, Rise competes directly with OppLoans (Opportunity Financial), NetCredit (Enova International), OneMain Financial, and Avant. Each lender has trade-offs: OppLoans offers slightly lower maximum APRs (160% cap) but with more restrictive eligibility. NetCredit provides similar loan amounts but has a smaller state footprint. OneMain requires collateral for larger loans but offers rates as low as 18%. Avant serves the "near-prime" segment (580-700 credit scores) at 9.95-35.99% APR.
Rise Credit's positioning is squarely in the deep subprime tier — designed for borrowers who cannot qualify at OneMain or Avant, and who want an alternative to payday lending's predatory rollover structure. If your credit score is above 580, exhaust alternatives from Avant, LendingPoint, or Upstart before considering Rise.
One of Rise's most consumer-friendly features is its 5-day risk-free guarantee. If you accept a loan and change your mind within 5 business days, you can return the principal amount with no interest, fees, or credit bureau reporting. This gives borrowers meaningful time to reconsider whether the loan is truly necessary or whether a better alternative exists.
Very few subprime lenders offer this protection. The 5-day guarantee is legally binding and easy to invoke — simply contact customer service and initiate the return. Funds must be returned via the same account that received them, and processing typically takes 1-2 business days.
Before applying for any high-APR loan, exhaust these lower-cost options:
If all these options are exhausted or unavailable, Rise Credit may be a defensible choice — but only for genuine short-term emergencies (car repair, medical bill, essential utility) and only if you have a clear repayment plan.