RISE Installment loans

Many online lenders now offer installment loans to borrowers with less-than-ideal credit history. In general, installment loans are a more flexible and affordable loan option than payday loans. However, online installment lenders who offer loans to borrowers with imperfect or bad credit may charge additional fees, penalties, and/or higher interest rates, so make sure to read the fine print and understand the details of the loan term before you apply.

Installment loans typically have fixed interest rates and a set end date. Terms vary by lender. At RISEcredit.com, we offer loans from $500 to $5,000 for up to 36 months. Your interest rate is based on our assessment of what you can afford, your application information, your credit history and the amounts and terms offered in your state.

Applying for a loan means that lenders will be checking out your credit score and credit history. Checking your rate at RISEcredit.com will result in a soft inquiry on your credit report. Soft inquiries do not affect your credit score. Completing your loan application results in a hard inquiry on your credit report and may affect your overall credit score.**

In general, higher credit scores will yield offers with better rates, but there are still installment loans available for people with less than good credit. Before you apply for a new loan, make sure to consider your needs, compare your options and read the fine print of any loan offer before signing on the dotted line.

When you begin comparing installment loan options, also check your credit score. Once you know your score, research your options to determine what loans are available for borrowers in your credit range. Many online lenders now make it easy for you to get a quote without any impact to your credit score. It’s also a good idea to see if there are any loans within your desired range that you prequalify for. Though prequalification is not a guarantee that you’ll be approved for a loan, it does mean you have a good chance of approval. Finally, when comparing all your options, pay close attention to repayment terms, costs and any additional fees, such as prepayment penalties. The loan you choose should meet your immediate financial needs while still offering terms that are reasonable for your situation and budget.