Loans like Rise Credit are often put into the same pile as all other short-term loans – they get labeled as payday loans. This label is used way too loosely, since Rise Credit is nothing like most payday loans. So what makes Rise Credit loans so different and what makes them better payday loan alternatives when compared to loans like LendUp or other direct payday loan lenders?
Let’s take a look.
Rise Credit Review – What are Rise Credit Loans
We’re going to cover a brief Rise Credit review so you can fully understand what they are all about. In short, Rise Credit provides small loans for short periods of time.
Rise Credit loans range from $500 to $5,000 and have an average repayment schedule of 24 months.
When applying for funds through their platform, you are provided with the ability to check your credit score for free. You can choose to repay your loans earlier without any early repayment fees and you can get approved at lower rates for future loans. In fact, Rise Credit states that after making 24 months of payments on time and remaining in good standing with them, you can lower your APR by up to 50%. Once you make up to 36 positive on-time payments, your rate can drop as low as 36% – almost as low as credit card rates.
Rise Credit loans are different from most payday loans for one simple reason – they help you pay less over time, whereas payday loans keep you in a loop and increase the amount of money you owe as you go.
Explore More Loans Like Rise Credit
1 – LendYou – Loans Up to $15,000
The best lender similar to Rise loans is without a doubt LendYou. You can read our full LendYou review, but in short, they offer loans ranging from $100 to $15,000. These loans are not classified as payday loans, they are actually personal loans. This means you won’t have to pay the incredibly steep APR fees usually associated with short-term loans. In fact, LendYou loans can last many years, allowing you more than enough time to repay them. Similar to Rise Credit, you will not have to pay any fees when repaying the loans earlier, so go ahead and get rid of your debt as fast as you can.
Phone Number: (888) 775-0859
Address: 1125 E Broadway, #545 Glendale, CA 91205
2 – Rubik Loan – High Approvals for Bad Credit
Rubik Loan is one of the great lenders like RISE that allows you to get your hands on cash loans even if your credit is poor. They have been in business since 2012, giving them over 5 years of experience and their reputation is immense. You can read our full Rubik Loan review, but in short they are specialists at getting bad credit loans approved even if your credit score is as low as 350. As long as you have a stable income with proof of income and meet the other basic eligibility requirements, you should have no problem getting approved for a loan at Rubik Loan. They offer personal loans ranging from $100 to $5,000 and they offer great repayment terms along with standard APR fees.
Phone Number: (855) 411-3330
Address: 1 E Liberty St Fl 6th Reno, NV 89501-2154
3 – Honest Loans – Receive $2,500 in 1 Day
You can read our full Honest Loans review, which explains why they are such a great alternative to RISE Credit. In short, HonestLoans is capable of getting you as much as $2,500 in as little as 24 hours. They have been in business for many years and have gathered positive reviews making them a trustworthy lender. HonestLoans offers a variety of solutions for borrowing money online including personal loans, installment loans, cash advance loans and even emergency loans. If you need cash fast, then HonestLoans may very well be your best option.
Phone Number: 866-956-2474
4 – Elastic Loans – Small Lines of Credit
Loans like Elastic are few and their unique aspect makes them a great solution when searching for companies like Rise Credit. Other than offering a direct loan, Elastic loans are in fact small lines of credit. Once approved, you will be provided with a line of credit ranging from $500 to $5,000, allowing you to pull money out whenever you need it and repay it in order to make those funds available once again. If you’re looking for a small line of credit, similar to a credit card, you’re going to love Elastic Loans as an alternative to Rise Credit.
Phone Number: (888) 225-0080
Address: 4030 Smith Road, Cincinnati, OH 45209