Question 1

What is required to apply?

Accepted Answer

- You are at least 18 years old
- You live in a state we service
- You have a job or regular source of income
- You have an active and valid checking account (savings and prepaid accounts not accepted)
- You have an email address to receive account information

Question 2

How do I get my application results?

Accepted Answer

The results will be available to you in a matter of seconds after you submit your application. In some cases, we may need to ask for additional information or proof of income before your application can be approved.  Once approved, you choose how much you want to borrow (based on your approval amount and state of residence). In the event we are unable to approve your application, we'll provide you a reason for denial.

Question 3

How do I get the offer you mailed to me?

Accepted Answer

If you received an offer from RISE in the mail, you need to complete our application. Simply hit “Apply Now” at the top of the page to get started!

Question 4

Does RISE serve Military customers?

Accepted Answer

Due to the changes in the Military Lending Act effective October 3, 2016, RISE is not available to applicants listed as Covered Borrowers in the Military Lending Act database, including qualifying active duty service members and their dependents as defined in 32 C.F.R. § 232 unless a loan product is offered that complies with this Act.

Question 5

How much can I borrow?

Accepted Answer

Our loan approval amounts range from $500 to $5,000 - depending on the laws of your state. Returning customers may be eligible for an increased loan amount depending on their payment history and the affordability of the amount requested. See our How It Works page for more information.

Question 6

Can I pick a different loan amount?

Accepted Answer

The amount you are approved for is determined based on your state of residence, our assessment of what you can afford and your credit history. In several states we are not allowed by law to offer lower loan amounts. To understand the loans that we offer in your state please visit our How It Works page.

Question 7

How soon can I get my money?

Accepted Answer

If we receive your application by 6pm ET and you are approved, we can electronically deposit your money into your account as early as the next business day (M-F excluding bank holidays). You can contact the ACH department of your bank to verify that the funds have been credited to your account. If you prefer, you can request a paper check. If a paper check is chosen please allow 7-10 days for delivery via the USPS. Applications received after 6pm ET are processed the next business day.

Question 8

What are my payment options?

Accepted Answer

For installment loans, depending on your state of residence, you will be able to select the number of payments based on your amount and pay frequency.

RISE accepts payments by ACH, debit card, and check.

Payment by ACH

For your convenience, if you have chosen to receive your money via electronic deposit (ACH debit), your payments will be electronically debited from your checking account.

Payment by Debit Card

Debit cards are accepted for one-time payments only. Debit card payments made by 10pm ET will be applied to your account the same day. Any debit card payments made after 10pm ET will be applied to your account the next day. To pay by debit card, please log in to My Account and select 'Make a Payment.'

Payment by Check

Please mail your check to one of the following addresses:

RISE Credit

PO Box 679900

Dallas, TX 75267-9900

Overnight payments only:

RISE Credit

Lockbox Number 679900

1200 E. Campbell Rd., Suite 108

Richardson, TX 75081

Question 9

Are there any early payment penalties?

Accepted Answer

RISE does not have any pre-payment penalties, so we encourage you to pay off early and save!

Question 10

How do I know if I am eligible for refinancing?

Accepted Answer

Applying for a loan refinance will not affect your FICO® credit score.  Customers may become eligible to refinance their loan and get more money by making repeated timely payments of at least the minimum amount due.  When you become eligible we will send you an email notification.  Refinance eligibility is subject to RISE’s discretion.  RISE may obtain information from Clarity, Teletrack or LexisNexis, which will be a hard inquiry and may affect your overall credit profile with these bureaus.  Not all states are eligible for refinancing.

Question 11

Can I pick a different payment schedule?

Accepted Answer

When you are approved, your first payment date and re-payment schedule are determined from your application information. At this time you cannot pick different payment dates other than what is presented on the Design Your Loan page. We do offer a 7-day payment extension for those times when you need a few extra days to make your payment.

Question 12

How much does it cost?

Accepted Answer

This depends on our assessment of what you can afford, your application information and credit history and the loan amounts and terms offered in your state (see How It Works for more information on the terms and fees in your state). It’s important to remember that RISE may not be the cheapest credit option and may not be the best option for you. To understand how our rates compare to other options check out the Why RISE page.

Question 13

What if I change my mind and no longer need the loan?

Accepted Answer

You have 5 business days from the date you signed your loan agreement to change your mind. If you decide that the loan isn’t right for you, simply call Customer Support at (866) 580-1226 and tell us that you no longer want the loan. You will repay the principal and will not be charged any fees or interest.

Question 14

Can I have two loans at once?

Accepted Answer

No, you must pay off your current loan before applying for a new one. If you are eligible for a refinance, the option is displayed when you sign in to your account.

Question 15

How do I reapply?

Accepted Answer

Existing customers need to Sign In to their account to apply for a loan. You must wait 1-10 days (depending on the payment method) after paying off your previous loan before you can reapply. Once you are eligible to reapply, click on the ‘APPLY NOW’ button on your Account Overview page. For your convenience, simply review your information on file, answer a few questions and get your results.

Question 16

What happens if I do not make a payment by the due date?

Accepted Answer

Please contact Customer Support if you’re unable to make a payment by the due date. RISE offers payment extensions for those times when you need a few extra days. In most states, charges will continue to accrue on overdue amounts when you miss a payment.

Question 17

I want to change my ACH Debit Authorization. How can I do that?

Accepted Answer

If you no longer want ACH as your payment meth please contact Customer Support and tell the agent you’d like to revoke your ACH debit authorization. The agent will make the necessary changes to your account and speak with you about alternative payment options available to you.

Question 18

What happens when I refinance my loan?

Accepted Answer

When you are approved for a refinance, you will receive a new loan, which will be used to pay off your current balance, and then we’ll send the remaining cash to you!

Question 19

Will my rate or payments change?

Accepted Answer

You are getting a new loan, so your APR, loan schedule and payment amount may change from what it is today. You can review all of this information after you apply on the Design Your Loan page. The complete disclosure of APR, fees and payment terms will be provided in your new Loan Agreement.

Question 20

Do I need to sign a new loan agreement?

Accepted Answer

Yes, this will be a new loan. In order to obtain the funds, you must sign a loan agreement for the new loan amount.

Question 21

Why do I have a soft inquiry on my credit report?

Accepted Answer

The inquiry on your credit report is the result of either an application you submitted and the loan was not accepted or a marketing campaign for a pre-screen offer.  Both are a “soft inquiry” on your credit report and therefore does not affect your FICO® score.

Question 22

Which credit bureaus do you report to?

Accepted Answer

Currently, the lender reports your account and payment history to Experian™ and TransUnion® monthly.  They may also report to several specialty credit bureaus such as Clarity and Teletrack.

Question 23

Can you remove the hard inquiry from my credit report?

Accepted Answer

Once a hard inquiry is reported, and the loan agreement is signed, the lender is unable to remove the hard inquiry from your credit report.  The consumer credit reporting agencies control how long inquiries remain on your credit report.  Additionally, they control how long any derogatory information remains on a credit report.

Question 24

Can you remove the loan from my credit report?

Accepted Answer

Once you accept and sign the credit agreement, it is the lender’s policy to report loan activity to the credit bureaus and report information accurately.

Question 25

I don't have an account with you. Why is there a soft inquiry on my credit report?

Accepted Answer

In preparation for marketing campaigns, a lender may pre-screen potential customers which means they evaluate their credit history so they can decide whether to offer them credit.  The pre-screen process is a soft inquiry and therefore does not affect your FICO® score or VantageScore®.

You can choose to stop receiving “prescreened” offers of credit from us and other companies by calling TransUnion and Experian toll-free at 1-888-567-8688, Clarity toll-free at 1-866-390-3118, and Teletrack toll-free at 1-877-309-5226.  You can also visit optoutprescreen.com.  Please note this site asks for your social security number but you’re not required to provide it to continue through the opt out process.

Question 26

What companies do you use to check my credit?

Accepted Answer

To determine a potential borrower’s creditworthiness, the lender may check your credit with a credit reporting agency such as TransUnion®, Experian™, Clarity, Teletrack, and Factor Trust.

Question 27

When will you report my account information to the credit bureaus?

Accepted Answer

Account and payment history information is pulled on the last calendar day of the month.  Once pulled, that data is reviewed and then sent to the credit bureaus at the end of the following month (roughly 30 days later).  While we provide accurate information to credit bureaus, the credit reporting agencies are responsible for how and when the information is reported on your credit report.  The credit bureaus typically update their records within 5 calendar days, but timelines may vary depending on the specific credit reporting agency.

If you haven’t seen an update on your credit report after 60 days, please reach out to us or the credit reporting agency directly.

Question 28

Why did I receive an alert that my credit was pulled?

Accepted Answer

If you received an alert that we pulled your credit, you recently accepted and signed a credit agreement.

If you did not accept and sign an agreement with us in the last 60 days, please contact us immediately at 866-580-1226.

Question 29

Will my credit score improve if I pay on time?

Accepted Answer

Due to the complexity of how credit scores are calculated, we’re unable to determine the exact impact making on-time payments on your account will have on your credit score. However, making on-time payments is one of the most important factors in building and maintaining good credit. For questions about FICO® score, visit https://www.fico.com/en/products/fico-score For questions about VantageScore®, visit https://vantagescore.com//

Question 30

What's the difference between a hard and soft inquiry?

Accepted Answer

The best place to learn more about credit inquiries including what they mean and how long they stay on your credit report is to visit the following page on TransUnion’s website:https://www.transunion.com/blog/credit-advice/the-difference-between-hard-and-soft-credit-inquiries

Question 31

Will checking my loan options impact

Accepted Answer

For new applicants, checking your rate will be a soft inquiry from a TransUnion® and Clarity an will not affect your FICO® score.  However, the lender may obtain information from Teletrack, which will be a hard inquiry and may affect your overall credit profile with this bureau.

If you proceed with an offer and accept a loan, then a hard inquiry that may affect your credit score will appear on your credit reports.

For returning customers, applying will not affect your FICO® score.  However, the lender will obtain information from Clairity and Teletrack which will be a hard inquiry and may affect your overall credit profile with these bureaus.

Question 32

How do I change my account information?

Accepted Answer

Sign In to your account and hover over “My Account” at the top of the page, then select “Account Settings”. This page allows you to edit your contact information and password. If you’ve forgotten your password, simply click “Forgot Password” on the Sign In page and enter your email address.

Question 33

How do I opt-out of emails or text messages?

Accepted Answer

Sign In to your account and hover over “My Account” at the top of the page, then select “Account Settings”. This page allows you to update your messaging preferences. If you’ve forgotten your password, simply click “Forgot Password” on the Sign In page and enter your email address.

Question 34

What is Credit Score Plus?

Accepted Answer

Credit Score Plus is a free service offered by RISE that provides any RISE account holder a view of their TransUnion® credit score. This service also includes credit alert notifications that can be viewed through your account. Visit our Credit Score Plus page to enroll and our Build Good Credit page to learn more about what a good credit score means for you.

Question 35

Where does my credit score come from?

Accepted Answer

The credit score is developed by TransUnion® from information in a consumer's credit report. It is calculated on a scale of 300 to 850. The TransUnion® score is calculated with an algorithm taking into account factors of an individual's credit such as on-time payment percentage, length of credit history, number of credit lines, and more. Like other scoring models, TransUnion® New Account simply uses a mathematical formula, plus the credit report, to assess how likely the customer is to pay their debts. By law, you can receive one free credit report every year from each of the three bureaus. Visit our Build Good Credit page to learn more about your credit and how to request your copies of your credit report.

Question 36

What are credit alerts?

Accepted Answer

When you receive notification of a TransUnion® credit alert, you are being informed of new information added to your credit report that may impact your credit score. Details of your alerts can be viewed on the Credit Score Plus page within My Account.

Question 37

Why is RISE needed?

Accepted Answer

For the millions of working Americans who have limited access to lower-cost credit products, RISE is a smarter credit option. RISE is an installment loan offering a flexible payment schedule and rates that go down over time with successful payments. Also, our fees are prorated. This means that customers pay for only the number of days they keep the loan.

Question 38

What makes RISE different?

Accepted Answer

At RISE we believe everyone should have access to responsible credit that meets their needs and helps you reach a better financial you. We offer you loans at better prices, when you need us. We believe a brighter financial future starts with access to affordable credit.

But a “better financial you” also means empowering you to make better-informed financial decisions. With tools like Credit Score Plus and the information on our Financial Wellness page, you can start building a brighter financial future… and one day, gain access to even more credit options.

Question 39

How is my personal information protected?

Accepted Answer

Here at RISE we are committed to keeping your personal information safe. See the Security section of our website to learn more about how we protect your personal information.

Below are a few of our most FREQUENTLY ASKED QUESTIONS about RISE loans

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