How to Check Your Eligibility and Borrow Money?
- Open your Cash App: Navigate to the ‘Banking’ tab at the bottom of your screen (this looks like a traditional bank building icon).
- Look for the ‘Borrow’ Option: If you’re eligible, you should see a ‘Borrow’ option under the header “Banking.”
- See Your Limit: If the ‘Borrow’ option appears, tap on it to see your maximum borrowing amount.
- Choose an Amount: Select the amount of money you wish to borrow.
- Select a Repayment Plan: Cash App will present repayment options, typically in four weekly installments.
- Review Terms and Fees: Carefully read the loan terms, including the flat fee and repayment schedule.
- Accept the Loan: If you agree to the terms, confirm to receive the funds into your Cash App balance.
How to Borrow Money from Cash App?
Cash App, the popular peer-to-peer payment platform, has a feature called “Cash App Borrow” that lets eligible users take out short-term loans. These loans offer a convenient way to access a small amount of cash when faced with an unexpected expense between paychecks. If you’re exploring this option, here’s everything you need to know.