If this feature ever becomes a reality, for the first few months or years: it seems that only a handful of potential users will be able to apply for a Cash App loan.
Similar to a traditional Credit Card application, a Cash App loan potential user eligibility check may include your balance, Creditworthiness, and account spending activity along with many others and those who maintain a good Cash App balance and get paid through the Cash App direct deposit every month, etc.
Why can’t I Borrow money from Cash App?
The reason why you cannot borrow money on Cash App may include – If you have an outstanding negative balance on Cash App wallet, You have not verified your Cash App account, Your account has violated TOS, and your Cash App mobile app is not updated to the latest version.
Even if you do pass all the above-mentioned requirements, we don’t know exactly how Cash App borrow feature is made available and what criteria are used for someone to be able to borrow money on Cash App. Continue reading