In August of 2016 I applied for a 2600 loan through RISE Credit. When the loan went through, I realized what a horrible deal it was, so I followed their cancellation procedure and they took the loan back out of my account. Then, two days later they emailed me saying they had an ACH error and "accidentally debited my account TWICE". My bank declined the second attempted withdrawal, I didn't have an extra $2600 just sitting in my bank account. Then, RISE somehow became "confused" and started saying that I never returned the loan that it was declined!!! Only the second debit was declined. I made phone call after phone call, at least 100 phone calls and sent around 50 emails. I sent them my bank statement documentation, and thought the matter was settled. But....they kept sending me daily emails saying I needed to make my payment, my payment was late, my payment was delinquent, etc.
etc.
I called them over and over and each time a different rep told me something different. One rep would say, "oh, your loan was cancelled-just disregard the emails-they are automated". They also kept calling me everyday. I was not comfortable with the answers they were giving me. I kept calling them trying to get this thing resolved, lots of verifying info, explaining the entire story, over and over, being transferred, disconnected, and calling back starting over, and over and and over. i cant tell you how many times I was disconnected, it was enough to put someone like Mother Teresa in the nut house. I didn't think I should be getting daily calls and emails if the loan had been cancelled. Last time I talked to someone named Keyla in October of 2016 I emailed her all the documentation she wanted, I thought it was all taken care of. I told her to make sure I didn't get any more calls and emails I thought it was a done deal.
Fast forward to May 30,2017 and I see a charge off on my credit report for over $4800 from RISE. It went on the report March 31 and lowered my score by 80 points! Keyla had put me down under some sort of "do not contact" status so they stopped contacting me but didn't get the issue resolved! Soooo.....I made more phone calls, and now I am waiting on another rep to help resolve this named Renee. She was actually the first person I've spoken to who showed some compassion for my dilemma. I am hoping this is resolved by tomorrow. I'm applying for apartments, and this is literally going to screw up my life if they don't get their error fixed. I will update this once I get something confirmed, until then I have to tell you DO NOT GET A LOAN FROM THIS COMPANY. They are far too unprofessional and prone to disastrous errors, like this one. My next step will have to be a legal one, I'm sure their is some arbitrary clause however, I think some sort of bad faith claim will override that clause.
Rise Credit is one of the several options available for those with bad credit to get a personal loan. They claim to be one of the few who can help you build your credit and who may offer reasonable rates. They use TransUnion for reference/reporting.
I applied to Rise twice, with a TransUnion rating of 595 and then 625 -- crappy, yes, but not terrible. Rise made two hard inquiries on my credit, and both times tried to loop me into the worst loan they offer: $2600 at an APR of 220%. They say this is the rate for the riskiest consumers, but to arrive at this rate, they falsely reported my credit rating below 540, BOTH times. This, even though I raised my score by over 20 points in-between inquiries.
They offered no explanation for this, after multiple emails, and they would not respond when I disputed the score they reported. Their customer service passes the buck, so don't try to get any real answers there.
This is a very bad deal for consumers looking to get out of a hole and rebuild their credit. The hard inquiries Rise made drove my credit ratings down for no good reason, AND they shared my info with other predatory lenders who continue to badger me. There are other options out there with similar interest rates, some lower, and they don't B.S. you like Rise does. Rise wants to rope you into the worst possible interest rate no matter what your credit score is. Look to CashCall for better options with bad credit. They're much more honest and forthright.
RISE Reviews
In August of 2016 I applied for a 2600 loan through RISE Credit. When the loan went through, I realized what a horrible deal it was, so I followed their cancellation procedure and they took the loan back out of my account. Then, two days later they emailed me saying they had an ACH error and "accidentally debited my account TWICE". My bank declined the second attempted withdrawal, I didn't have an extra $2600 just sitting in my bank account. Then, RISE somehow became "confused" and started saying that I never returned the loan that it was declined!!! Only the second debit was declined. I made phone call after phone call, at least 100 phone calls and sent around 50 emails. I sent them my bank statement documentation, and thought the matter was settled. But....they kept sending me daily emails saying I needed to make my payment, my payment was late, my payment was delinquent, etc.
etc.
I called them over and over and each time a different rep told me something different. One rep would say, "oh, your loan was cancelled-just disregard the emails-they are automated". They also kept calling me everyday. I was not comfortable with the answers they were giving me. I kept calling them trying to get this thing resolved, lots of verifying info, explaining the entire story, over and over, being transferred, disconnected, and calling back starting over, and over and and over. i cant tell you how many times I was disconnected, it was enough to put someone like Mother Teresa in the nut house. I didn't think I should be getting daily calls and emails if the loan had been cancelled. Last time I talked to someone named Keyla in October of 2016 I emailed her all the documentation she wanted, I thought it was all taken care of. I told her to make sure I didn't get any more calls and emails I thought it was a done deal.
Fast forward to May 30,2017 and I see a charge off on my credit report for over $4800 from RISE. It went on the report March 31 and lowered my score by 80 points! Keyla had put me down under some sort of "do not contact" status so they stopped contacting me but didn't get the issue resolved! Soooo.....I made more phone calls, and now I am waiting on another rep to help resolve this named Renee. She was actually the first person I've spoken to who showed some compassion for my dilemma. I am hoping this is resolved by tomorrow. I'm applying for apartments, and this is literally going to screw up my life if they don't get their error fixed. I will update this once I get something confirmed, until then I have to tell you DO NOT GET A LOAN FROM THIS COMPANY. They are far too unprofessional and prone to disastrous errors, like this one. My next step will have to be a legal one, I'm sure their is some arbitrary clause however, I think some sort of bad faith claim will override that clause.
Rise Credit is one of the several options available for those with bad credit to get a personal loan. They claim to be one of the few who can help you build your credit and who may offer reasonable rates. They use TransUnion for reference/reporting.
I applied to Rise twice, with a TransUnion rating of 595 and then 625 -- crappy, yes, but not terrible. Rise made two hard inquiries on my credit, and both times tried to loop me into the worst loan they offer: $2600 at an APR of 220%. They say this is the rate for the riskiest consumers, but to arrive at this rate, they falsely reported my credit rating below 540, BOTH times. This, even though I raised my score by over 20 points in-between inquiries.
They offered no explanation for this, after multiple emails, and they would not respond when I disputed the score they reported. Their customer service passes the buck, so don't try to get any real answers there.
This is a very bad deal for consumers looking to get out of a hole and rebuild their credit. The hard inquiries Rise made drove my credit ratings down for no good reason, AND they shared my info with other predatory lenders who continue to badger me. There are other options out there with similar interest rates, some lower, and they don't B.S. you like Rise does. Rise wants to rope you into the worst possible interest rate no matter what your credit score is. Look to CashCall for better options with bad credit. They're much more honest and forthright.