How To Borrow Money From Cash App Borrow

To use Cash App Borrow, head to the Money tab, tap Borrow, and accept up to $500, assuming your account is eligible for this feature. Your eligibility isn't guaranteed since Cash App Borrow will review your account history to determine if you can unlock the feature. Find out about fees, repayment and what to do if Borrow doesn't appear in your app.

Key Takeaways

• Borrow up to $500, if you're eligible. Cash App Borrow offers short-term loans from $20 up to a personal limit that tops out at $500, deposited instantly to your Cash App balance.

• Eligibility isn't guaranteed. Most people qualify after direct depositing $300 or more in paychecks monthly, or linking an external account with $500 or more in monthly deposits, plus regular Cash App Card use and an account in good standing.

• You'll learn how to borrow money from Cash App Borrow in five steps. Open the Money tab, tap Borrow, choose your amount, review the fee and terms, then accept to get funds instantly.

• Expect a flat fee, not traditional interest. Cash App charges a flat fee on the amount you borrow, with flexible repayment — weekly installments, pay-in-full, or pay-as-you-receive-cash.

• It won't build credit, but missed payments can still cost you. Cash App doesn't check your credit or report on-time payments, though an unpaid balance sent to collections may be reported to the bureaus.

• Not available everywhere. Borrow isn't offered in Colorado, Iowa or Oregon, and alternatives like personal loans may help if Borrow doesn't appear in your app.

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Cash App Borrow Eligibility Requirements

Cash App Borrow hasn’t published a definitive list on eligibility, but it appears borrowers who don’t check every box can work toward eligibility. Cash App Borrow will favor regular direct deposits, Cash App card usage and an account in good standing with no flagged issues. You can build your way toward eligibility with more of a history with the app.

How To Borrow Money From Cash App Borrow: 5 Steps

Borrowing money from Cash App can be done by following five easy steps:

1. Open the Cash App and go to the Money tab.

2. Check for the Borrow option which is only visible once you're approved.

3. Select how much to borrow, from $20 up to your personal limit up to $500, if eligible.

4. Review the fee and repayment terms, then accept.

5. Get the funds in your Cash App balance.

Cash App Borrow Fees and Repayment

Cash App has a 5% fee on what you borrow. Here's how it looks with selected amounts:

Repayment Methods

Cash App Borrow offers three different ways to repay any money you borrow:

• Make weekly installments: Repay your loan in small increments over the course of about four weeks.

• Pay the entire balance at once: Repay your entire loan in full at a predetermined date.

• Pay as you receive cash: Transfer a portion of your balance every time you receive cash in your Cash App balance.

If you have any outstanding balance on your final due date, Cash App will automatically deduct it from your Cash balance or linked account.

Late Payments

If you miss a payment, then Cash App may deduct the balance directly from your Cash App account or linked bank account. You could also be on the hook to pay interest, in addition to the flat fee. If the balance continues to go unpaid and ends up going to collections, that could be reported to credit bureaus and negatively impact your credit score.

What To Do if Borrow Never Appears

Continue to keep using your Cash App card as much as you can. The repeated use will show a consistent pattern of using your card. Notice what version of the app you're using. If it's outdated, update the app. Keep consistent depositing funds in the app as this is a way to improve eligibility. After two to three months of consistent use and you're still not seeing borrower appear in the app, contact customer support at 1-800-969-1940.

Cash App Borrow Alternatives

If you don’t meet the requirements for Cash App Borrow or you need additional funds, you may want to explore other alternatives. You can choose from MoneyLion Instacash®, a personal loan or a credit card advance. Here's how they stack up against Cash App Borrow:

MoneyLion Instacash

Instacash lets access up to $500 before your next payday. There's no interest, no credit check and no required fees. Funds can be delivered between one to five business days, though there's a fee if you opt for expedited delivery with Turbo^*.

Instacash isn't a loan — it's earned wage access (EWA). EWA lets you withdraw a portion of your wages before you get paid, rather than waiting for the traditional payday.

This flexibility can be a game-changer if you need cash to help cover your bills, but don't want to pay hefty fees with other alternatives.

Personal Loan

Personal loans give you a fixed amount of money that you repay over a set period — typically anywhere from 12 to 60 months.

Depending on how much you need to borrow, personal loans may be a better alternative to short-term loans because they can help spread your payments out so you’re not stuck facing immediate financial pressure to repay what you borrowed.

They also tend to offer higher borrowing limits, which can help cover larger expenses without turning to multiple small loans.

Credit Card Advance

With a credit card advance, you can borrow against your personal credit limit. The interest will start accruing immediately and APRs are higher than your usual credit card purchase. There may be a separate cash advance fee.

MoneyLion can help you explore a wide variety of credit card options tailored to different needs and preferences.

FAQ

Is Cash App Borrow a real loan, or a scam?

Cash App Borrow is a legitimate loan through Square Financial Services, Inc., Cash App's banking partner. Cash App Borrow offers small loan amounts with a flat fee.

Does using Cash App Borrow affect your credit score?

Cash App Borrow doesn't report timely payments so it won't impact your credit score. However, if you miss payments any collection activity will be reported to the credit bureaus.

Can you have more than one Cash App Borrow loan at a time?

You can have more than one Cash App Borrow loan at a time up to your Borrow limit.

Is Cash App Borrow available in every state?

Cash App Borrow isn't available in Colorado, Iowa or Oregon.

Does paying off a Cash App Borrow loan early save you money?

There's a flat fee of 5% no matter the amount you borrow. Paying early won't save you money. You still owe the amount you borrowed plus the fee.

Key Terms

• Cash App Borrow: A short-term loan feature inside Cash App that lets eligible users borrow up to $500, issued and serviced by Square Financial Services, Inc.

• Personal limit: The maximum you can borrow through Cash App Borrow, based on your account activity; it may be lower than $500 and can increase over time.

• Direct deposit: Electronic deposit of paychecks or other income into your account; regular direct deposits are a key factor in Borrow eligibility.

• Flat fee: A fixed borrowing charge based on the amount you take out, rather than an interest rate that accrues over time.

• Good standing: An account with no flagged issues or past-due balances, which Cash App weighs when determining Borrow eligibility.

• Cash advance: Borrowing cash against a credit card's limit; interest typically starts accruing immediately and a separate fee often applies.

• Soft inquiry: A credit check that doesn't affect your score; Cash App Borrow involves no credit check at all.

Sources

• Cash App Borrow

• MoneyLion Instacash / Earned Wage Access

• MoneyLion Personal Loans

• How to Get a Cash Advance on a Credit Card — MoneyLion

Summary generated by AI, verified by MoneyLion editors

Rudri Bhatt Patel, CFHC™ contributed to the reporting for this article.