Anyone know anything on (RISE CREDIT CARD)

Garzi21

Hi everyone, I too have a rise visa card with limit off £300.
Can anyone help me with understanding the repayments. I've opted to pay the full amount off every month.

Now when I first read it, I understood that if I used the full £300 then I would pay £330. Is this correct?

After reading the terms and conditions again I came across this

"Total amount payable
The total amount of credit (based on utilisation of the credit limit of £300) plus total charge for credit payable under the agreement, is £630. This is an illustrative figure only."

If I'm reading this correctly and not being incredibly stupid (which I hope I am being) then if I have a balance of £300 every month. My payment each month will be £630??

Please tell me I'm reading it wrong.

Thanks for your help

Stuart_W

Garzi21 wrote: »

If I'm reading this correctly and not being incredibly stupid (which I hope I am being) then if I have a balance of £300 every month. My payment each month will be £630??

Please tell me I'm reading it wrong.

You were right the first time with spending £300 giving you a bill of £330 to pay off in full. The £630 figure is based on paying off over 12 months - very very expensive.

Unless you really "need" to borrow the money right now, rather than paying £30 each and every month in fees, I'd live off bread and water for month, stop spending as much as possible, and consider saving that £30 with your local credit union for a few months, who will then be able to consider offering you a loan if you think you really need one to rebuild your credit. Credit unions can't charge more than 2% interest per month, by law. Many charge less.

samtoby

I just thought I would share my expience with RISE.

I applied last week and my card has come through with the pin and welcome letter confirming my direct debit for the full amount each month. Excellent security there!

Please can anyone thank my post if they had the same? I want to know if this is normal.....

I rang the number to activate the card which just rings a dead line. Worrying.....?

SnowTiger

samtoby wrote: »

I just thought I would share my expience with RISE.

I applied last week and my card has come through with the pin and welcome letter confirming my direct debit for the full amount each month. Excellent security there!

Please can anyone thank my post if they had the same? I want to know if this is normal.....

I rang the number to activate the card which just rings a dead line. Worrying.....?

I wouldn't worry about the card and PIN arriving together. Any use of the card that happens before you receive it would be Rise's problem. And, as the card has to be activated by paying a £20 fee before use and your credit limit is only £100, it's probably a loss they feel they can live with.

Given Rise's customer base, it's more likely that a customer won't pay their bill than a card and PIN being lost in the post.

As for their activation line ringing dead, it's something that I've experienced with other companies. It's probably just a temporary issue. Try again later.

samtoby

SnowTiger wrote: »

I wouldn't worry about the card and PIN arriving together. Any use of the card that happens before you receive it would be Rise's problem. And, as the card has to be activated by paying a £20 fee before use and your credit limit is only £100, it's probably a loss they feel they can live with.

Given Rise's customer base, it's more likely that a customer won't pay their bill than a card and PIN being lost in the post.

As for their activation line ringing dead, it's something that I've experienced with other companies. It's probably just a temporary issue. Try again later.

My limit is £300.00 so I think it is a bit concerning the items came together.

Still can not get through.... boo.

CDaniels1987

I have a Rise Credit Card, but how the hell are you supposed to check your balance?

sharpy2010

CDaniels1987 wrote: »

I have a Rise Credit Card, but how the hell are you supposed to check your balance?

Surely noting down what you've spent isn't all that difficult to do?

CDaniels1987

No its not difficult but I am used to online banking for both my bank and other credit cards so I haven't noted down what I have purchased on it!

loony2012

CDaniels1987 wrote: »

No its not difficult but I am used to online banking for both my bank and other credit cards so I haven't noted down what I have purchased on it!

You have to check receipts and manually work it out or phone them up.

moneymessup

Hi,

I have had problems with money and wanted to avoid a payday loan so I took out a Rise Visa instead. Although the card is genuine I must warn they are unwilling to help if you do have any problems paying. I have recently entered a debt management plan rather than borrow more money to solve my problems and all of my creditors have accepted the situation and the proposal from the debt management company (CCCS - if you are considering a DMP use them, no fees, all the money goes to the creditors and they are very good). Rise will not deal directly with the CCCS, they have not frozen charges or interest and are now demanding a full breakdown of everyone in my households income/outgoings before they will even look at it (The debt is mine alone, we have no joint bank accounts and no one else has asked for my partners income). They phone constantly, and no one else has called since I entered the DMP and Rise are really piling on both the pressure and the charges.

Be warned.