Rise Credit review: is Rise Credit legit?
Rise Credit is a legitimate online installment lender, and Elevate Credit, Inc. of Fort Worth, Texas, which Park Cities Asset Management LLC has owned since February 2023 is the company behind it.
- APR
- 60% to 299%
- Amounts offered
- $500 to $5,000
- States
- 31 states
- Complaints to the CFPB
- None filed
- Enforcement actions
- 1
Rise Credit on file
- Owner
- Elevate Credit, Inc. of Fort Worth, Texas, which Park Cities Asset Management LLC has owned since February 2023
- Issued by
- In bank-partner states, loans come through Quill Bank, once Capital Community Bank, or FinWise Bank. Other states use a RISE company with a state license.
- Product
- Partner banks provide these unsecured installment loans in some states, while state licences cover others
- Repayment length
- 7 months to 36 months
- Credit checks
- The eligibility check does not affect your FICO score. A complete application brings a hard inquiry with Clarity; accepting a loan brings one with TransUnion or FactorTrust.
- Time to get the money
- usually the next working day when approval happens before 6 p.m. ET
Taken from what Rise Credit publishes, CFPB complaint counts and public enforcement files. All sources are listed at the foot of the page
The cost of $500 at Rise Credit
$1,104.88
At the highest APR Rise Credit publishes, 299%, a $500 loan repaid in 7 monthly payments (Rise Credit offers that term) works out to about $157.84 a payment: $1,104.88 back in total, of which $604.88 is interest.
This estimate uses the highest published APR and is no offer; the rate you get turns on where you live and on your credit.
Good to know about Rise Credit
- Elevate Credit of Fort Worth runs it, and Park Cities Asset Management now owns Elevate privately
- This bank-partner model uses Quill Bank or FinWise Bank for loans in certain states, which triggered a DC Attorney General suit and a 2022 settlement.
- Depending on your state, APRs range from about 60% to 299% for sums between $500 and $5,000 over 7 to 36 months.
- Payments get reported to credit bureaus, plus you get a 5-business-day return window with no interest or fees.
- 31 states appear on the state selector; absent big markets include California, New York, Illinois, plus Pennsylvania.
States where Rise Credit lends
Rise Credit names 31 states on its own site. Each link opens that state's payday and small-loan rules as general background, not a ruling on Rise Credit's own loans, which may come under a different state law or a partner bank. 7 of them cap small-loan rates, marked capped.
- Alabama
- Alaska
- Arizona (capped)
- Arkansas (capped)
- Delaware
- Florida
- Georgia (capped)
- Hawaii
- Idaho
- Indiana
- Kansas
- Kentucky
- Louisiana
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana (capped)
- Nebraska (capped)
- Nevada
- New Hampshire (capped)
- North Carolina (capped)
- Ohio
- Oklahoma
- South Carolina
- Tennessee
- Texas
- Utah
- Virginia
- Wisconsin
- Wyoming
Rise Credit complaints and lawsuits
No complaints sit in the CFPB database under Rise Credit's name.
- 2022 · District of Columbia Attorney GeneralDC sued Elevate because RISE and Elastic loans were priced above DC's 24% cap; the settlement paid at least $3.3 million in refunds and $450,000 to the District of Columbia. Source
Want a cheaper loan than Rise Credit?
Talk to a specialist about lower-cost choices in your state, credit union loans included. Talk to someone about cheaper options: 855.947.5189
This line reaches a debt and loan options specialist. We are not Rise Credit and cannot reach your Rise Credit account.
Rise Credit alternatives: loans like Rise Credit
| Lender | Type | APR | Amounts | States named | CFPB complaints |
|---|---|---|---|---|---|
| Rise Credit (this record) | Online installment lender | 60% to 299% | $500 to $5,000 | 31 | None filed |
 Fig Loans | Online installment lender | 190% to 279% | $50 to $800 | 6 | 422 |
 OppLoans | Online installment lender | 99% to 195% | $500 to $5,000 | 41 | 2,172 |
 NetCredit | Online installment lender | 34.99% to 99.99% | $1,000 to $10,000 | 38 | 6,080 |
 CreditNinja | Online installment lender | – | $300 to $5,000 | – | 308 |
– means the company does not publish it. Complaint counts are totals, not rates: a bigger company draws more. Open any name for its full record.
Questions about Rise Credit
Is Rise Credit legit?
Since February 2023, Park Cities Asset Management LLC has owned Elevate Credit, Inc., which runs Rise Credit, a genuine online installment lender. Their published rates show APRs of 60% to 299% for loans ranging from $500 to $5,000. One government or court action exists on record, though the CFPB database shows no complaints under its name.
Who owns Rise Credit?
Since February 2023 the owner of Elevate Credit, Inc. (Fort Worth, Texas) has been Park Cities Asset Management LLC. Who appears as the lender changes by state: a state-licensed RISE company or, in bank-partner states, FinWise Bank or Quill Bank (formerly Capital Community Bank).
Does Rise Credit check your credit?
Rise Credit states that an eligibility check leaves your FICO score unchanged; a complete application causes a hard inquiry with Clarity, and accepting the loan triggers one with TransUnion or FactorTrust.
How fast does Rise Credit send the money?
Approval before 6 p.m. ET typically means next-business-day funding, Rise Credit says.
Has Rise Credit been sued or fined?
In 2022 the District of Columbia Attorney General brought a case: the suit said Elevate priced RISE and Elastic loans above the District's 24% cap, and the settlement required $450,000 to the District of Columbia plus refunds of at least $3.3 million.
Where the Rise Credit facts come from
- RISE, an Elevate brand, is both bank-issued and state-licensedelevate.com
- Park Cities Asset Management bought Elevate (February 28, 2023)elevate.com
- Bank partners issue RISE loans in certain states; How fast the money arrives; Credit check: a complete application triggers a hard inquiry with Clarityrisecredit.com
- APR range (depends on the state); Range of loan amounts availablerisecredit.com
- Rates and amounts for Utahrisecredit.com
- Texas loans from bank partners: rate and amountsrisecredit.com
- Repayment termrisecredit.com
- Which states appear on the lender's state selector; Service is not available in all statesrisecredit.com
- Credit check: an eligibility check will not affect your FICO score; Return the loan within 5 days risk-freerisecredit.com
- In some states, borrowers pay origination fees.risecredit.com
- Searching CFPB complaint data for 'Elevate' finds no entry for Elevate Credit or RISEconsumerfinance.gov
- A search of the CFPB complaint database for 'Rise' as a company yields no resultsconsumerfinance.gov
- Settlement between Elevate and the DC Attorney General (February 8, 2022); The attorney general in the District of Columbia described the APR RISE advertised there; Under the DC settlement they must stop charging above DC's 24% cap.oag.dc.gov