You can shop around to up to 40 lenders at once without negatively affecting your credit score by applying with one of our premium lenders on our marketplace page. Behind the scenes, we will check your rate with 40 other lenders. You will see all the approvals and you will be able to choose the loan that best meets your needs. [ Ссылка ]
Rise Credit is an online lender that offers personal loans to borrowers who may have difficulty obtaining credit from traditional sources. While they market their loans as a way to help customers manage unexpected expenses and build credit, the extremely high interest rates and potential risks associated with these loans should give borrowers pause.
Rise Credit's personal loans range from $500 to $5,000, with APRs ranging from 50% to 299%. These rates are significantly higher than those offered by most credit cards and personal loans from banks or credit unions. While Rise Credit doesn't charge application, origination, or prepayment fees, their late payment and returned payment fees can add to the already high cost of borrowing.
Applying for a Rise Credit loan is a straightforward online process, with decisions typically made within minutes and funds available as soon as the next business day. However, eligibility requirements, such as minimum credit score or income, are not clearly specified. Rise Credit does report payment activity to the major credit bureaus, so making on-time payments could help borrowers build credit over time.
Given the high costs and potential risks, Rise Credit loans should only be considered as a last resort after exhausting all other options. Before applying, borrowers should carefully assess their ability to repay the loan and consider alternatives such as negotiating with existing creditors, seeking credit counseling, or exploring lower-cost loan options. If proceeding with a Rise Credit loan, it's crucial to borrow only what is necessary and to have a clear plan for repayment to minimize the risk of falling into a cycle of debt.
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For more information about personal finances and for access to financial services and products, visit www.TheYukonProject.com.
Contents
00:00 - Introduction
00:20 - Loan amounts and terms
00:31 - APRs
00:47 - Fees
01:02 - Hardship programs
01:26 - Payments
01:55 - Is Rise a legit company?
02:27 - Is it hard to be approved?
03:00 - Application
03:32 - Beneficial features
03:44 - Recommendation
04:11 - How to shop around
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