Individuals can get a RISE credit loan by submitting their contact information, current income level and source and checking account information into the online application, states RISE Credit. Customers are notified of the approval decision seconds after submitting the application.Continue Reading
Some applicants, including all residents of Illinois, may be asked to submit proof of income, states RISE Credit. Acceptable documents include pay stubs, bank statements that document direct deposits from government payments and tax returns. Customers must be at least 18 years old to apply for a loan. Alabama residents must be at least 19. RISE credit loans are not available in all states.
If the loan is approved, customers may borrow between $500 and $5,000, based on the approval decision, states RISE Credit. Loan applications processed before 5 p.m. Central are dispersed the following business day.
Loan terms and conditions vary by state, says RISE Credit. First-time loan recipients are typically charged an annual percentage rate of 124.67 to 363.97 percent. Interest rates may decrease for customers who consistently make on-time payments.
Customers who cannot pay off their loan may apply to refinance, advises RISE Credit. If approved, a new loan is issued to pay the balance of the original loan and potentially receive additional cash. New terms and interest rates may apply.Learn more about Credit & Lending