Update: Read This Entire Review Before Applying for a Loan
Our Review of Rapital Capital
As a short term installment loan provider, Rapital Capital works to fund consumers that have past credit issues. With interest rates often exceeding 780% APR, our advice is to shop around before committing to a loan. This is a very expensive form of borrowing and you should only consider it if you have a true financial emergency.
What is Rapital Capital?
As more people search for Rapital Capital reviews, we felt it important to leave our own review. While there isn’t much regarding the company itself, they do offer a FAQ’s page, contact information and the application button. They do have a couple of what appear to be reviews, but they are unnamed and paired with generic photos. Warning: Beware of scam artists and loan sharks when evaluating installment loan lenders or bad credit loans in general. Near the bottom of the page, you will find all the fine print associated with the product, but we’ll go over that here in a moment. Otherwise, the webpage seems fairly straight forward with nothing too out of the ordinary.
Rapital Capital also states that they are unable to do business in every state and the list changes frequently. They state to check back and see if they are doing business in your state, but there is no where on the site that shows which states are currently eligible to apply.
How Much Will it Cost?
As stated, the product offered by Rapital Capital is an unsecured installment loan that typically is $1,000 or under. For first time borrowers, the maximum amount you may apply for is $700, but repeat customers are eligible for loans up to $1,000. Interest rates range from 550% up to 780% APR. There’s not much beyond that information related to the product. One thing you will notice is this website and company is very limited in what information they provide. Given that most of their competition has a plethora of information, you will likely find this a disadvantage.
How to Apply for a Loan
In the first portion of the application process, you will enter your name, date of birth, phone number, social security number, email and address. From there, you will enter your employment information, including income source and when you are paid. Rapital Capital does not perform traditional credit inquiries and underwrites their products in house. This means you can apply for a loan, even with a bankruptcy and not perfect credit.
In the next two sections, you will input your banking information for the account you will receive the loan proceeds. The next section is reference information and while they will not contact any of your personal contacts to qualify your loan, they do not tell you what they will be used for. The final section is regarding military service and how it may apply to your application. Once you complete those steps, you will submit your application and await approval.
How Fast Can I Get Money?
While this goes for any loan application, if you want to increase your success, the company states to only apply to one website and payoff any outstanding loan balances. As most Rapital Capital reviews state, loan proceeds deposit directly into your bank account upon approval, and you can generally expect to receive these funds within 24-hours, according to their website.
The Bottom Line
Beyond the information provided there is not much else on the website for you to explore. While others in the industry have in-depth FAQ pages and provide value to their clients, Rapital Capital seems to lack in this area. If you want to receive more information regarding their product, you will likely need to reach out via their contact information. Overall, the company seems legitimate but the lack of information on their website, it truly puts them at a disadvantage to their competition. This is the main concern with most Rapital Capital reviews. There are several businesses in this industry and while this one would likely do the trick; you might be better off looking elsewhere.
Information lacking include the ability to repay your loan early or cancellation of the loan application. Certainly this will be in your legal documents but it’s something many clients want to know upfront. Rapital Capital appears to provide all the important information but noting more. Take that for what it is and ensure you are completing your own due diligence before applying for a loan.
I’ve tried to borrow from them for an emergency situation and they gave me the run around. After verification on the phone with my bank they still screwed up the deposit and after 3 days still no resolution. I would advise anyone looking for a loan to seriously look elsewhere the interest fees are astronomical. The federal government should prevent these companies from doing business in the US. They are the worst of the worst predatory lenders. BEWARE!!
This company needs to be shut down! They are the most fraudulent scam artists! I hope you never have to be in a position to have to use one of these loan places, but if you do, please steer clear of these swindling liars. They’ve taken money out after I paid my loan off and closed my account and won’t refund their mistake. Horrible horrible company.
Josh Beans says
Just like the above comments, took out a loan for $1,500 and the first four payments of $450 were for interest only and not one cent went to the loan balance. How do they figure that the interest I owe was $1,800 when at that point it should have been $800 based on the 400% APR?? So after 70 days of paying off this loan adding up to $2,400, the payoff balance was $1,400!! I made them stop my payments and told them to just let it go to collections because I’m not paying them another cent. I paid the $1,500 plus $900 interest for 70 days of making payments and that is all they are getting from me!!!
Eric austin says
Borrower beware this company will rip u off they tell u one thing and then add hidden fees ….do not get money from them.
BEWARE BEWARE BEWARE
This place is outrages and will rob u blind they have hidden fees they don’t tell u about. This place should be audited by the FTC, THEY ARE DEFINITELY NOT user friendly!!!!
BEWARE OF THIS COMPANY DO NOT BORROW FROM THEM.
BEWARE !!!!! BEWARE !!!!!! BEWARE !!!!
DANGER DANGER DANGER
I unfortunately took out a $900.00 dollar loan from this company. The first four payments are interest only. They took the first payment early, and it was not the amount I was quoted. I closed the bank account and they will never get the new banking information. I offered to pay by money order or cashier’s check, and they declined. This is a scam. This is a scam.
Everyone that has applied for a loan here needs to come together a sue this company.I applied for a 1000.00 dollar loan and had to pay them almost 4000.00 back.They just debit whatever amount they want out of your account very unprofessional and unorganized!!!!!Do not I repeat do not do business with this company.They will scam you out of your money.This is illegal I will be seeking legal advise.They need to be Shut down!!!!!
Tom H. says
Was in a serious pinch and borrowed from them a couple of weeks ago. This past weekend I had a heart attack and have to have open heart surgery. Have tried for two days to work with them to lower the payment until I get back on my feet and get back to work. I have no short term disability. They won’t work with me at all and it’s causing me so much stress. I have no place to turn and cannot believe they have no compassion.
If i receive one more phone call from these people they will be having a lawsuit on their hands. I see these reviews from other people they got screwed just like i did.
Kathleen J Ilgen says
I BORROWED SOME MONEY FROM RAPITAL CAPITAL. THE AGREEMENT WAS. $300.00 EVERY 2 WEEKS ON FRIDAYS. THEY SCAMMED ME OUT OF $474.00 EVERY TUESDAY.. IF THEY CALL ME ONE MORE TIME I WILL SUE RAPITAL CAPITAL FOR HARASSMENT.
Kathleen J Ilgen says
RAPITAL CAPITAL SCREWED ME. TAKING A PAYMENT OUT OF MY BANK ACCOUNT DAYS BEFORE MY PAYMENT WAS DUE. WHEN I CALLED TO HAVE MY PAYMENT REIMBURSED THEY SAID THEY COULDN’T DO IT. THEN THEY TOOK OUT MORE THAN WHAT THEY WERE SUPPOSED TO.
Doug rumsey says
Terrible company . They are not fair
William R Greer says
consumer beware. this loan company will charge you 355% in finance APR so for say a $900 dollar loan you will pay upwards of 4000 dollar’s before you’ve paid off the loan..
K. Mangus says
Rapital Capital is the biggest scam ever. DO NOT get a loan through the vultures. They are so unorganized and have cost me so much grief and stress and money. This should be against the law.
Brian Allen says
Thank you for the honest review, CJ
CJ Vandeveer says
Applied for a $100 cash advance. Approved at 350 percent interest. That’s three hundred fifty percent interest with a total loan cost of over $4000. YES! $4000.00! Run! Run fast! Run far! TOTAL RIPOFF!
Brian Allen says
Thank you for your comment!
D. Millermk. says
The interest is way more than the loan itself. You will be paying back much more than what you’ll receive and for a long time. I was approved for $800. The first payment of $400 was do 30 days from the initial payout and the next $480, 1 month from then and for the next 9 months I was expected to make payments of large sums until I paid in excess of $5,795. That made no sense as I was looking to borrow to erase $815 I owe. If it makes no sense than it should not be. I canceled on the loan