Rise Credit: Everything You Need to Know & Its Impact on Your Credit Score

by Joe Mahlow • Updated on May. 02, 2025

A caption for the above image.

Rise Credit (often written RISE Credit) is an online lender that offers small installment loans to borrowers who need cash fast.

Dealing with money can be tricky, especially when you need extra funds. You might have heard of Rise Credit. Rise Credit aims to help people cover urgent expenses like medical bills or car repairs, especially if they have low credit scores.

This article will tell you everything you need to know about Rise Credit and how it can affect your credit score. We will also talk about debt and collections to help you understand the bigger picture.

**Disclaimer:** This blog post provides general information about Rise Credit and its potential impact on your credit score. The information provided is for educational purposes only and should not be considered financial advice. Interest rates, loan terms, and eligibility requirements for Rise Credit may vary by state and individual circumstances. It is essential to review the specific terms and conditions of any loan agreement before signing. ASAP Credit Repair does not endorse or recommend any specific loan product or lender. If you are struggling with debt or credit issues, consider seeking advice from a qualified financial advisor or credit counseling agency.

Rise Credit: What Is It?

Rise Credit is a company that offers online loans to people who may have lower credit scores. They say they can provide funds quickly, sometimes as soon as the next business day. Rise Credit offers installment loans, which means you borrow a certain amount of money and pay it back in regular payments over a set period.

NerdWallet explains, “Rise Credit provides small installment loans with fast funding but high interest rates. You may have cheaper borrowing options”- nerdwallet. In most states, loan amounts range from a few hundred dollars up to $3,000–$5,000.

Rise Credit does not charge origination or application fees, but the interest rates (APRs) are very high – from about 59% up to nearly 300%. For context, typical personal loans have much lower rates (often under 20% for good-credit borrowers), so Rise’s rates are among the highest in the industry.

Where Can I Find Rise Credit?

Rise Credit is primarily an online lender. You can find their services and begin the application process by visiting their website.

You might see ads for RISE credit login or the RISE loan login app. These are ways for customers to access their accounts, see their loan details, and make payments. Some people might also look for a RISE credit invitation code, although this is not always required to apply.

If you need help, you can look for the RISE credit phone number or RISE credit customer service online. You can also usually find a RISE credit login payment option on their website or app to manage your repayments. Many users simply search for RISE login or RISE login payment to access their accounts.

While they operate online, their corporate address is:

RISE Credit 4150 International Plaza Suite 300 Fort Worth, TX 76109

You can also contact their customer service by phone at (866) 580-1226. Remember to always verify contact information directly from their official website to avoid potential scams.

How Rise Credit Loan Works

Applying for a Rise Credit loan is done online. The process generally follows these steps:

Check Pre-Qualification: You start by entering basic info (name, email, state, etc.) on the Rise website. This soft credit check does not hurt your score. It shows you loan offers and amounts you might qualify for.
Submit Full Application: You fill out more details (address, income, Social Security number, desired loan amount, etc.). Sometimes an invitation code from a mailed pre-approval letter can be entered here to see offers faster (if you have one).
Approval and Funding: Rise usually reviews applications quickly. If you apply by 6 pm Eastern Time and are approved, you often receive your loan funds as soon as the next business day. In fact, Bankrate notes borrowers can get a decision within minutes and funding in about one business day. In practice, most people see money in their bank account within 1–2 business days after approval.

Once approved, your loan is given as a lump sum, and you repay it over a set term (usually 4 to 26 monthsb) in equal installments. In a businessinsider article, Rise discloses that terms vary by state, but the range is typically a few months up to about two years. Your payment schedule is fixed from the start, and Rise does not let you choose a later due date after approval.

Important: Rise reports payments to two of the three credit bureaus (Experian and TransUnion), so managing your account can affect your credit history.

Understanding Debt and Collections

Before we dig deeper into Rise Credit loans, let's talk about debt. Debt is when you owe money to someone, like a bank or a company. This can happen when you borrow money for a car, a house, or even when you use a credit card.

Sometimes, people have trouble paying back their debts. When this happens, the company you owe money to might try to collect it. This is called collections. They might call you, send letters, or even hire a special company to get the money back.

It's important to understand that not paying your debts can hurt your credit score.

What is a Credit Score?

Your credit score is like a grade for how good you are at paying back money you borrow. It's a number that tells banks and other lenders how risky it might be to lend you money. A good credit score can help you get better interest rates on loans and credit cards. A bad credit score can make it harder to borrow money or get good terms.

Several things affect your credit score, including:

Payment History: Do you pay your bills on time? This is the most important factor.
Amounts Owed: How much money do you owe compared to your credit limits?
Length of Credit History: How long have you been using credit?
Credit Mix: Do you have different types of credit, like credit cards and loans?
New Credit: How often do you apply for new credit?

Negative things like not paying bills on time or having collection accounts can lower your credit score.

What Credit Score Do You Need for Rise Credit?

Rise Credit does not publish a minimum credit score requirement. It is known as a lender for borrowers with poor or fair credit. In fact, NerdWallet lists “Min. credit score: None” for Rise. Business Insider confirms this: “RISE doesn’t list an official minimum credit score requirement, but it’s known to offer loans to borrowers with bad credit.

In other words, even if your score is quite low (or you have no credit history), you can still apply. Rise is often seen as a last-resort option when banks or other lenders say no. For example, while a traditional bank might want a score above 600, Rise will consider much lower scores.

That said, having a higher credit score can still help. If your credit is better, you may qualify for a slightly lower interest rate. But if your credit is very low, you might only get the smallest loan amount with the highest rate. The key point is: Rise Credit is designed for people who have trouble qualifying elsewhere.

If you have even fair credit, you might find better rates and options with other lenders or credit unions.

You might be interested: What Can You Get With a 700 Credit Score?

What Are the Costs and Terms?

Rise Credit loans have the following characteristics:

Loan amounts: Typically $300–$5,000 (varies by state). The minimum can be as low as $300–$500. The maximum is only $5,000, much smaller than many bank loans.
Interest (APR): Extremely high. For first-time customers, APRs start around 60% and can go up to nearly 300%. Repeat or returning customers in some states might see slightly lower rates, but they are still very steep. By comparison, the average personal loan rate is far lower – even people with poor credit usually find loans below 40% if they shop around. Bankrate warns that Rise’s rates are “exorbitant,” noting a minimum APR of 60% and a maximum near 300%.
Fees: No origination fee and no application fee. You also won’t pay a penalty for paying the loan off early. Rise even offers a 5-day window after funding to cancel the loan for a full refund of principal, with no interest charged. Other than interest, there are no added fees as long as you repay on time.
Repayment term: Between 4 and 26 months. The shortest terms are about 4 months in some states, the longest up to a little over 2 years. This is shorter than many standard personal loans (which can be 3–5 years), so your monthly payment may be relatively high.
State availability: Rise is not available in every state. They exclude many (e.g. California, Illinois, etc.) for new customers. Check the website to see if your state is eligible.
Payment schedule: Fixed and set by Rise. You’ll have a fixed due date each period. Unfortunately, Rise does not let you choose or change the date once set.

In summary, Rise Credit loans are very expensive. For example, Business Insider notes that a typical Rise APR is much higher than other loans and even comparable to payday loans. This means while you get quick cash, you pay a lot in interest.

A practical example: a Bankrate review quoted a borrower who took a $1,000 loan and ended up paying back about $2,500 in total due to interest. Another borrower reported taking $3,500 at 148% APR and paying $10,000 in interest. These stories show how steep the cost can be.

How Long Does It Take to Get Money from Rise?

A common question is “How long does it take to get money from Rise Credit?” or “How long until I have my cash?” The good news is that Rise advertises fast funding. As mentioned, applications are processed quickly online.

According to a risecredit review, if you submit before 6 pm ET and are approved, you’ll usually see the money in your bank the next business day.

In practice:

Day 1: Apply and get pre-qualified (minutes).
Day 2: Complete application, get decision (often within 24 hours).
Day 3: Funds arrive (most loans fund by the next business day after approval).

This timeline can be shorter if everything goes smoothly and you meet the daily cutoff. In ideal cases, you could have cash in as little as one business day. If you apply late on one day, you might see money two days later. But generally, expect 1–2 business days from approval to deposit

(Note: “How long does it take to Rise Credit?” might mean how long to improve your credit using Rise. Rise itself won’t quickly boost your score; if you make all payments on time, your credit bureaus see the positive history, which could help over many months. But Rise’s main promise is fast cash, not quick credit improvements.)

Is Rise Credit Worth It?

Whether Rise Credit is “worth it” depends on your situation and other options. Here are some pros and cons to consider:

Pros:

Accessibility: Rise Credit may be an option if you have a lower credit score and need funds quickly.
Speed: You might receive the money relatively fast, which can be helpful in emergencies.
Cancellation period: You have 5 days after getting the loan to cancel it (with no penalties).
Installment Loans: These loans have a set repayment schedule, which can make budgeting easier.
No fees: Rise has no upfront fees or origination charges. You won’t lose part of your loan to fees.
Reporting to Credit Bureaus: Rise Credit typically reports your payment history to credit bureaus. Making timely payments on a Rise Credit loan could potentially help you improve your credit score over time.

Cons:

High interest rates: The biggest drawback is the extremely high APR. Most experts say you should avoid such high-cost loans if possible. Business Insider bluntly calls these APRs “incredibly high” and warns to use Rise only if you have tried every other option. The enormous interest means your payments might be more than double or triple your loan amount, as the examples above show.
Small loan limits: You can borrow at most $5,00. For a big expense (like a large medical bill), Rise may not provide enough. If you qualify elsewhere, a bank or credit union could lend much more.
Short terms: The loan term can be as short as 4 months. That means larger monthly payments. If you want to spread out payments longer to make them smaller, Rise may not be ideal.
No choice in schedule: Rise sets your payment schedule during application and won’t let you change it later. This inflexibility can be tough if your pay dates don’t match.
State restrictions: Not available in many states. Also, if you move to a non-qualifying state, you can’t apply for new loans there.
Credit hit up front: Applying triggers a hard credit inquiry, which can temporarily lower your score a bit.
Potential for Debt Cycle: If you're already struggling with debt, taking out another high-interest loan could make your financial situation worse.

Example: Let's say you borrow $1,000 from Rise Credit with a high APR. Over the loan term, you might end up paying back $1,500 or more due to interest and fees. If you had other options with a lower interest rate, you would save money.

Factual Statistic: According to a report by the Consumer Financial Protection Bureau (CFPB), borrowers with low credit scores often pay significantly more in interest over the life of a loan compared to borrowers with good credit.

How Rise Credit Affects Your Credit Score

Rise Credit can impact your credit score in several ways:

Credit inquiry: When you apply, Rise will do a hard pull on your credit report. This typically causes a small, temporary drop in your score. It’s similar to applying for a credit card. Usually the effect is minor (a few points) and fades after a few months if you don’t open other new accounts.
New loan on your report: A new installment loan will lower your average account age and increase your total debt. This can also cause a slight score drop initially. However, installment loans can actually help your “credit mix” (the variety of credit you have), which is a small positive factor in scoring models.
Payment history: The biggest factor. On-time payments will build positive history. Since Rise reports to Experian and TransUnion, every payment you make on time gets noted by those bureaus. Over time, this can raise your score – Experian says a well-managed loan can help you build credit. If you stick to the payment plan, you may see gradual credit improvement as your positive payments accumulate.
Late or missed payments: These are very bad for your score. If you miss a payment on your Rise loan, Rise will charge late fees and may eventually turn the debt over to a collection agency. Once a debt goes to collections, it can slash your credit score dramatically. Experian warns that mismanaging a loan can hurt your score. Rise itself says “late or missed payments might damage” your credit. So avoiding default is crucial.
Debt-to-income and utilization: Taking a Rise loan adds to your total debt, which can make new lenders think twice. It doesn’t affect revolving credit utilization (since it’s not a credit card), but it does increase your overall debt load.

In summary, Rise can help your credit if you pay on time, but it can really hurt if you don’t. The fact that Rise reports to two major bureaus means your performance there will count. Make every effort to pay on schedule. If you run into trouble, Rise lets you defer one payment or request an extension by calling customer service. However, interest keeps accruing during deferment. Always try to pay at least the minimum on time.

Checking your credit reports regularly (via free tools like AnnualCreditReport.com or with our help at ASAP Credit Repair) can help ensure everything is reported correctly.

Dealing with Debt and Collections

Since Rise loans add debt, it’s important to manage them carefully. Debt is simply money you owe. If you can’t pay, that debt can end up in collections. A debt in collections means a lender (or a debt collector) reports to the credit bureaus that you failed to pay on time. This can stay on your credit report for up to seven years and severely damage your scores.

If you struggle to make your Rise payments, act quickly:

Contact Rise Credit: The company advises borrowers to call if they can’t pay. You may be able to defer a payment or get an extension. For example, if you’re late, Rise’s FAQ says you can log in online to defer a payment or call (866) 580‑1226 to ask for an extension.
Avoid letting it go unpaid: Even if you can’t pay the full amount, paying something can keep the account from going to collections as fast. Check if Rise offers hardship options.
Collections process: If a debt is eventually handed to a collection agency, that agency must follow laws like the FDCPA and can only contact you after certain notices (see CFPB guidelines). They can then report the debt to credit bureaus. If your Rise loan does get collected, it’s another mark on your report.

Tip: If you’re worried about falling behind, consider asking Rise about alternate payment plans or even settlement. The Reddit and forum experiences suggest Rise may not negotiate easily, but it doesn’t hurt to try. Always get any agreement in writing.

Separately, Rise loans are sometimes used for debt consolidation of other debts. Since Rise reports payments, some people use it to pay off a credit card or payday loan and then repay Rise instead. This only helps your credit if you actually pay Rise back on time. Otherwise you’ve just swapped one debt for another.

Rise Credit: Logging In, Payments, and Customer Service

Once you have a Rise loan, managing your account is done online or by phone:

Rise login: Go to the Rise Credit website and click “Sign In.” Enter your email and password to access your account. From there you can view your balance, payment schedule, and statements. (There is no separate “Rise loan” app – just use their website. It is mobile-friendly so you can log in on your phone or tablet.)
Making payments: You can pay your bill online through the portal by linking a checking account or debit card. According to Rise’s disclosures, acceptable payment methods include checking account draft, debit card, check, or money order. If online, you’ll set up a bank account to auto-debit or make a one-time payment. You can also mail a check or money order to their lockbox if needed. Rise will apply payments directly to principal and interest. Always double-check your due date so you pay on time.
Payment Schedule: Payments are usually due biweekly or monthly (depending on your loan) and will be automatically charged unless you cancel or defer. Confirm any autopay settings in your account to avoid missing a payment.
Customer Service: For help, call Rise’s customer service phone at (866) 580‑1226 This is a toll-free number available Monday–Friday 8 am–11 pm Eastern, and 9 am–6 pm on weekends. They can answer questions about your loan, payments, or technical issues. You can also email support@risecredit.com for assistance (If you need their legal team, they list privacy@risecredit.com.)
Other support: Rise does not have physical branches for customers; it’s all online/phone. They encourage borrowers to login and manage accounts on their site. If you forget your password, there’s a reset link on the login page.

In short, to log in and make a payment, just visit the Rise Credit site, use your login credentials, and follow the prompts under “Payments” or “Account Dashboard” to pay your bills. It works like any other online loan portal. Keep your login info safe and the email you used up to date.

Customer Reviews and Experiences

While we focus on facts, it helps to know what real customers say. Many borrowing reviews mention two themes: fast funding and high rates. On Trustpilot (via a Bankrate summary), most Rise reviews are positive about getting money quickly.

For example, one reviewer wrote: “I got the loan the next day which is incredibly amazing. However, that same reviewer also noted, “the interest is so high” that repaying costs a lot.

Another borrower reported, “interest rate was 148%… I would be paying $10,000 in interest alone on a $3,500 loan”. These stories match what we know: borrowers praise the speed but feel the pain of the high APR.

WalletHub and Reddit discussions echo this. People say Rise is quick and easier for bad credit, but warn that “that 35% ‘as low as’ rate is a joke – my rate was way higher” (Reddit) and “their rates are awful” (WalletHub). Still, some say it’s worked as a last resort. Always take personal anecdotes with caution, but they confirm that fast funding and high cost are the main takeaways.

Making Informed Decisions About Rise Credit

Rise Credit (RISE) provides quick, short-term installment loans for people with low credit. You can get $300–$5,000 fast – often by the next day after approval. But the tradeoff is very high interest (APR 59%–299%). On-time payments can help your credit (since Rise reports to the credit bureaus), but missed payments or defaults will hurt. Rise is most appropriate for emergency needs when you truly have no cheaper option.

Always read the loan agreement carefully, plan your budget to make payments on time, and consider all alternatives.

Remember, a good credit score unlocks access to significantly better loan and financial opportunities. This includes lower interest rates and more favorable terms. Start building that strong credit profile today through responsible financial habits. While Rise Credit might offer temporary relief, cultivating good credit is the key to a healthier and more prosperous financial future.