This seems to be a great program for anyone just needing a little help. A chance.....
Review by Lak1 year ago
Do not use this service.
I saved a total of $107.20 on their app, I was suppose to collect 114.40 ( because I chose to be last to receive my money).
They only gave me $56.17 back. I lost almost 50 percent of what I saved.
This isn’t savings, it’s a scam.
I am still waiting on the rest of my balance.
Very terrible service, no customer service and no telephone line to speak with anybody at their office.
They do not reply emails.
Review by Stefaniya1 year ago
I like it a lot. I like the concept and the freedom that it gives someone.
Review by Dharana1 year ago
Rosca finance has a long way to go. This might be great if you are looking for a short term loan and/or trying to build up your credit score. But if you are doing this as an investment, you will lose some of your money.
I have participated in 10 Roscas. So far 4 Roscas have completed, for these 4 Roscas i'm down 15.91% of the total amount given.
The final percentage down will be worse, since i have already received several notifications about members missing a give.
Calculated guess, i'll be down about 25% to 30%. (i have 2 Rosas with larger gives still to complete)
When i started with Rosca Finance, i asked about the percentage of missed payments, and was told it was 0.05%, i'll call "make belief (for a lack of a better word)" on that.
I have no idea what the process is for collecting on missed payments? I don't see were the incentive is, since it is not their money that is not paid back.
I just received an email from Rosca Finance, that they will start charging a membership fee $10.00 and a 1% of each get total.
Their email/chat support is non-esisten. I have sent several emails, and have not received a single reply after the first week of joining Rosca Finance.
If they don't work out how to keep loses down, i think at some point they will run out of Users willing to be investors.
UPDATE: i finished all my gives & gets, some of the gives were refunded, i believe one of the missing payments was collected on, overall i have a loss of 4.49% of my total amount invested. There is still no replies/answers from support, and the one time i was able to get a reply, they didn't follow thru on the request.
They said they changed there business model, but it looks like they just changed their name. If you are in it for a quick loan, go for it, if you are doing this as an investment, other P2P lending options seem to be the better choice.
Review by Mikser1 year ago
I think this website is closing or the company is . Haven't had any new rosca's in a good while nor can any be formed . I do not think anyone is there ? I cannot get anyone in customer service or anyone to answer any emails .
Review by Marzie Lyudkov1 year ago
Beware!!!! I received an email from my credit alert app that my credit score had dropped 42 points due to a recent Rosca hard inquiry. I knew that this was a mistake, I immediately reached out to Rosca support. I was told that I had requested a credit inquiry (false) in return my lending capabilities increased. I stated that I joined Rosca to increase my credit score, that I had no interest in raising my lending capabilities and had not requested a lending increase. I was told that may very well be the case but there was nothing for them to do. I was told that might credit MAY start to increase within two months. This is a terrrible site.
Review by Xochilth Derrow1 year ago
Bringing back a well thoughout plan for saving and borrowing. A Tru Tried way to build your credit or just saving for a future plan. They may be others, but this one is the best in my opinion.
Review by Bafford1 year ago
I have had a great experience with Rosca so far. I’m trying to build my credit score and it’s helping me do that without having to open a new card. I would definitely recommend.
Review by CBouffard Khadri1 year ago
Rosca Finance is a great way to rebuild your credit and to secure small loans as needed. I love it because anyone can qualify to participate in getting financially fit.
Review by Minxiong1 year ago
Well really don't know what to write. It seems pretty good. The setting up your bank account and all that stuff is pretty easy. Did my few weeks of giving now now, I'm supposed, to be getting but it is like a week late on give me my money and there's nothing that they're doing about it so I don't know what to think yet being cautious
Review by Sheiraz1 year ago
Started participating in Roscas a few months ago and have really enjoyed taking part. Once you do a couple and get in the routine, the process is really easy. The autopay is nice because you can "set it and forget it". Its an easy way to put positive marks on your credit report and practice managing your finances. I had to talk to customer service once - they responded quickly and were very friendly. The only reason for four stars instead of five is that it is frustrating when your Roscas don't start because not enough people signed up...Certain this will change as the program gains popularity and it will become 5 stars!
Review by Shiwani Habif1 year ago
great company to do business with!! thanks for everything!
Review by Bawe Derrow1 year ago
Innovative and really useful. Easy to use, easy to understand.
Review by Junzhuo1 year ago
Hard to sync gives precisely with cash flow (i.e. paycheck). If you are someone who treats payday as bill day, keep track of this. Went through a round that was biweekly - precisely between each pay period. Would love being able to shift give schedule +/- 1 week to sync with budget cycle.
Otherwise support is great, works as advertised, and my hiccups we're probably the biggest risk to the ROSCA.
Review by Byomakesh Lahens2 years ago
This is a GREAT way to build credit!
Review by Focaloid Mardhall2 years ago
Absolutely stupid that four people in total have to sign up. I registered for this because I needed the money and because our rosca was one person short I now have to find the money else where which has already been difficult. If someone doesn't complete the rosca then everyone else should just be able to compensate for the missing person rather than everyone losing
Review by Eversti2 years ago
It turned out to be a good experience for me I plan to do it again but I wanna see if I could do it on my own 1st
Review by Chiraag2 years ago
So far Rosca offers opportunity unlike any other with credit and maintaining future credit rating.
Review by Mechell2 years ago
Easy way to rebuild credit!
Review by DagnugsGrowlab Stathi2 years ago
This is a great thing for people who want to save money. I would recommend Rosca to anyone.
Review by Shamanie Virali2 years ago
Its a great concept I do have to say that but I didn't quite understand said concept going into it. I haven't done my first ROSCA yet I'm a little hesitant to.
Review by Mojdeh Edelsten2 years ago
The system is good, the idea is great. Everything will get better in time. I'm sure I'll eventually change this to a 5-star review once there are more members and the kinks are worked out. As of right now, I've tried 4-5 times to start a Rosca but I never get enough people to sign up to move forward! This should change in time when there are more members.
Review by Smicko2 years ago
Rosca is great! The site is very easy to use and I love the community they've built. It feels like we're all helping each other work toward financial freedom.
Review by Storevilladszn2 years ago
Really easy to use & very fair!
I've dealt with a lot of companies similar to Rosca, or with similar goals lately and Rosca has been the easiest to navigate. Plus, Rosca really motivates you by working with others and with its easy to use planning features. It has a great community, easy navigation and great planning feats. Overall, I love Rosca and will continue to use it. I recommend Rosca to everyone!