PROS / RISE uses a reward points system that is designed to help you lower your APR over time with on-time payments, financial courses and enrollment in its credit score program.
CONS / We didn't receive responses to our email inquiries.
VERDICT / RISE offers a different and promising way to do payday loans, with a point system that may help you lower your rates over time.
RISE is a direct payday loan lender that offers competitive rates. It also implements a points system that rewards you for completing loans, making early payments and taking the financial courses the company offers. Because of these features we have awarded RISE our Top Ten Reviews Silver Award.
The RISE reward system is designed to help lower the APRs you're charged over time, depending on your payment history and other factors. For example, you receive 75 points for on-time payments, and when you reach 1,000 points, you receive a discount on your next loan.
RISE will make a decision on your application after you complete the online form. It may require basic personal information and your banking information. If your application is approved, RISE deposits your money directly into your checking account.
When payment is due, RISE can automatically deduct it from your checking account. If you need an extension, you can contact the company to see what options are available to you. Be aware, however, that loan extensions or rollovers may mean additional fees, and the longer you have a loan out, the more interest you'll end up paying overall.
RISE has standard help and support options. You can read online about the loan process and the RISE rewards program. There's also a FAQs page that provides answers to common questions. You can call customer support or contact the company via email form. However, when we emailed the company with general questions, we never received a response.
RISE has a different approach to payday loans than most traditional companies. It offers fast payday loans with an opportunity to decrease your rates over time with its rewards program. The fact that we did not receive a response from RISE when we emailed customer service is disappointing, but this up-and-coming payday loan service is trying to help change the way payday loans work, and that has potential.