rails c not working in rails 5

As a general approach if this error occurred due to updating readline with homebrew

New version can be found by reading the output of brew install readline

My output: readline 8.0.0 is already installed and up-to-date

Old version can be found by load error

My error (Note the 7): Library not loaded: /usr/local/opt/readline/lib/libreadline.7.dylib (LoadError)

ln -s new_version/path/to/readline original_version/path/to/readline

In my case my command was

ln -s /usr/local/opt/readline/lib/libreadline.8.0.dylib /usr/local/opt/readline/lib/libreadline.7.dylib

I recently had this problem when I updated HomeBrew, I'm also working with rails 5 and found this solution and it worked for me:

ln -s /usr/local/opt/readline/lib/libreadline.7.0.dylib /usr/local/opt/readline/lib/libreadline.6.dylib

Source: https://gist.github.com/mcshakes/c87e8adda174c73be354094800b9756d

UPDATE

For readline 8 and newer versions, follow the answer given by @Cody Elhard