RISE is a direct lender in states such as Florida, Oregon and Texas. In other states, RISE partners with FinWise Bank and Capital Community Bank to fund loans, but you will still make your monthly payments through RISE.
States Where RISE Has Lending Partners
You can use WalletHub's free pre-qualification tool to see which lenders may approve you and what rates may be available to you.
RISE does not disclose a specific credit score needed to get a personal loan, unlike many personal loan providers. Although there isn't a specified RISE credit score requirement, RISE will consider people who have bad credit, according to customer service. Most other lenders' credit score requirements for personal loans range between 585 and 700.… read full answer
Keep in mind that RISE will look at more than just your credit score when evaluating your application for a personal loan. RISE will consider your entire financial profile, including things like your income, existing debts and recent credit inquiries, when deciding whether to approve you.
If you're unsure of what your current credit score is, you can check it for free on WalletHub. You can also pre-qualify for a RISE personal loan online to gauge your chances of getting approved with your current credit score.
It takes 1 to 2 business days to get money from a RISE personal loan, in most cases. The RISE loan timeline includes around 1 business day to get approved for a RISE loan and another business day to receive the funds after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.… read full answer
How to Get Money From RISE as Fast as Possible
Fill out the application carefully. You should make sure that all information you enter on the application is correct and complete. That will eliminate any potential delays from RISE having to request additional information.
Check your credit report for errors. Before you apply, you should verify that everything on your credit report is accurate, as any incorrect negatives on there could impact your chances of approval. If you find any errors, you should dispute them right away to get them removed.
Get an electronic funds transfer. RISE offers loan payouts through an electronic funds transfer to your bank account or by paper check. The transfer is the faster option.
Yes, a RISE personal loan does affect your credit score, both when you apply and during the entire time that you are paying the loan off. Initially, a RISE personal loan will affect your credit score in a negative way, but the long-term impact can be very positive, assuming you repay the loan on schedule.… read full answer
How a RISE Personal Loan Affects Your Credit Score
Hard pull: When you apply for a RISE personal loan, RISE will do a hard inquiry into your credit history, which will temporarily drop your credit score by about 5-10 points in most cases.
Increased debt level: Taking out a RISE personal loan will naturally increase the amount of debt that you have. Since your debt level is one of the components of your credit score, you can expect that to have a negative impact initially.
Account diversity: One positive way that getting a RISE personal loan can impact your score right away is by adding more diversity to the types of accounts you have open. Your "credit mix" is one of the components of your credit score, and the more types of accounts you have, the better - as long as you handle them responsibly.
Payments: The biggest factor in how a RISE personal loan affects your credit score is whether you pay on time. If you make on-time payments, your score should steadily increase as a result. If you pay late or fail to make payments altogether, you can expect your credit score to drop.
The bottom line is that while a RISE personal loan does affect your credit score, most of the way that your score changes depends on how responsible you are with the loan. If you'd like to estimate how certain actions might affect your credit score, you can use WalletHub's free credit score simulator.
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