If you currently have a loan from Rize Credit Union, in order to be eligible for another loan, you must:
- Have made on-time monthly payments for the six previous consecutive months. On-time payments mean that a payment was received during the 10 day grace period;
- Have no more than one outstanding loan through Rize Credit Union at the time of application;
- Have no more than $25,000 of outstanding principal at the time the loan originates.
If you’ve finished paying off an existing Rize Credit Union loan and made on-time monthly payments for the six previous consecutive months, you’re able to apply for a second loan after your most recent payment clears (14 days from the payment date).
If you’ve finished paying off an existing Rize Credit Union loan and any of the six most recent monthly payments were not on time, OR you paid off the loan before reaching six monthly payments, there is a 60-day cool off period before reapplying.
To create a second application, be sure to use a different email address than what you previously used on another application. To apply for a second loan, check your rate here!