Are you struggling from bad financial times? Do you look for a quick but still efficient way to get some money? There is one great method to solve all financial problems as soon as possible. You won’t have to waste days in the banks or other suchlike establishments. Rise credit is a nice alternative to traditional ways of borrowing cash. Let’s don’t jump to conclusions and look at this company closer, find out its main features and decide whether it deserves your time and attention.
The Key Features of Rise Credit
This popular company is ready to offer you a credit from 500 dollars up to 5 thousand dollars. Rise credit differs greatly from similar cash advance services due to 3 main reasons:
- The borrowing service offers clients obtaining a loan as soon as possible. Moreover, specialists also provide them with an excellent opportunity to cut the rate of future credits to 50 %.
- Many top lenders send reports to special bureaus. Rise credit is not an exception as well. Doing it allows improving your credit score in case you demonstrate positive behavior in terms of paying back a debt.
- The company also gives a fantastic opportunity to the customers to freely access a credit score and alerts, savings as well as great tools and tips on the following issue.
How to apply to a credit company
Have mentioned above factors made you willing to apply to this cash advance company? Then go through these quick and simple steps to obtain a borrowing from Rise credit. Go to the official website of the company and study the interface. Find the corresponding button and make an application. Next fill in all required information including name, address, social security number, etc. Be attentive, you can apply only online and take care of a valid checking account and working email address.
What is more, you can receive the necessary amount the next working day if you applied to the service before 6 p.m. It will be sent to the personal account directly. By the way, the company gives you a great opportunity to view own activity and check the balance at any time of day and night seven days a week.
How Score Plus Program Works
To begin with, it should be noticed there are 3 major credit bureaus. They are Experian, Equifax, and TransUnion. These establishments are specialized in collecting financial information about people in terms of personal and auto loans, mortgages, etc. Next, they place received data into a credit score with 20 points.
This score will be used when you apply for any kind of loan. The lenders will use one or even more such scores to check your eligibility, repayment term, and APR. As for Rise credit, its Score Plus service is offered via TransUnion. It means you are going to receive exactly this specific score.
Pay attention, then if a Credit Score Plus account is inactive for 90 days, you will have to apply to the company again because TransUnion will finish your participation in this program automatically.
What Alternatives Lenders Should Consider
You'd better think twice before applying to a payday loan company. Maybe there are some other ways to cover your urgent expenses like selling an old car or some clothes, musical instruments or unnecessary tools. You may even consider more working hours for several days. In other words, you'd better use any other available alternatives rather than paying a high-interest rate.
Among them are:
- Borrowing cash from family or friends Do you need several hundreds of dollars? Why no to ask your sibling, parents or friends to help you with cash? Maybe they can assist you easily and you won’t have to apply for a quick payday loan.
- Get a paycheck advance Take the company you work in into consideration. Go to the HR department and ask for financial assistance. It may be a check for hours you have already worked for or an advance paycheck. Don't forget about special apps if you work in a large company. Such applications may help cash out part of an earned paycheck.
- Use a credit card Do you have a credit card? Great if you have. Then do not hesitate and use it to solve your financial difficulties. Believe, it is better than applying to Rise credit. The reason is quite clear. The interest rate of a credit card is lower than that one which a payday loan has.
- Work out own payment plan Do you have to pay an urgent medical bill or cover expenses for utilities, car repair or something like that? Don’t hurry to ask for a payday credit. You may act in another way. Think of possibility to arrange own payment plan that will definitely prevent you from 100% interest. Let's make it clear. For example, there is a hospital not far from your house where you can negotiate about a special payment plan according to which you will be able to cover all necessary expenses in a period from 18 to 36 month. In this case, you will solve the unpleasant money issue but still avoid paying high interest. It is only one example, but be sure there are many opportunities like talking with your mechanic and deciding the payment question for a car repair, etc. Just think carefully how else you can pay for your bills without applying to a Rise credit.
It goes without saying, Rise credit as any other similar company has a certain interest rate which, by the way, is very high. Its size will vary depending on an amount. The minimum rate is 36 % on any kind of loan. As for the highest rate, it is 299%, So, you should be very attentive while applying to a suchlike company. Maybe you can use any of mentioned above alternatives to solve available money difficulties. Anyway, it’s up to you to decide but ponder on your actions.