What credit score do you need for a RISE personal loan? This question is about Personal Loans

What credit score do you need for a RISE personal loan?

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This question is about Personal Loans

Rick Bormin, Personal Loans Moderator

@rhandoo2020 • 02/08/23 This answer was first published on 05/07/21 and it was last updated on 02/08/23.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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RISE does not specify a minimum credit score requirement 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.

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.

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What personal loans can I get with a credit score under 600?

You can get a personal loan with a credit score under 600 from LendingPoint, if your score is at least 585. In addition, if your score is just on the border of 600, it might be possible to qualify for a loan from Avant or LendingClub, though it's probably best not to try your luck. You may have an easier time with local credit unions, which may be more receptive to lower credit scores.

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How do personal loans affect your credit score?

Personal loans affect your credit score in the short-term and in the long-term. In the short-term, a personal loan may damage your score because it causes a hard credit inquiry and increases your debt load. But in the long-term, a personal loan can either help or hurt your credit, depending largely on whether or not you pay the bills on time. Ultimately, it’s up to you how much impact the personal loan will have.

How a...

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How do you get a personal loan?

Getting a personal loan is a lot easier than many people think. Most people are familiar with the credit card application process, however, and getting a personal loan is very similar. In general, you comparison shop to find an offer that suits your needs in terms of loan amount, length and APR. Then, you check for pre-approval to gauge your odds of success. Once you’re confident you want to apply, you fill out an application...

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