Cash App Borrow Not Showing Up [Reasons] | Why can’t I borrow money from Cash App

If you use Cash App and don’t have access to the Borrow feature, you are on the right post to get the potential reasons. The Cash App Borrow feature is not available to all users and only shows up to eligible users, which is determined by Cash App based on an algorithm. This does leave many people wondering “Why Cash App Borrow is not showing up” or “Why can’t I borrow money from Cash App”, while there are other Cash App users who have access to it.

In this guide, we will cover the factors which may be the reason why you don’t have access to Cash App borrow feature.

With Cash App borrow, you can get a short-term loan for an amount ranging from $20 to $200. You are required to repay the loan in four weeks with a 5% interest. This is not cheap in any way as it adds up to 60% APY.

The Cash App Borrow is a loan offered by Cash App in partnership with First Electronic Bank. You can check the terms of the Borrow agreement on the Cash App website.

Why is Cash App Borrow Not Showing Up

The Cash App borrow feature is not available to all Cash App users and only shows up if you are identified as an eligible user by the Cash App algorithm.

Your ability to access the Cash App borrow feature depends on a number of factors which include the following:

  • State of residence
  • Credit history
  • Cash App usage
  • Direct deposit enabled for a user’s Cash App account
  • Cash Card usage

Let’s understand the details.

State of residence

The Cash App Borrow feature is not available yet in all US states and regions. It is being rolled out in stages. In some states, you will see a high percentage of Cash App users who have the Cash App borrow feature.

While in the case of a few states, it may not even be available. Now, if you see this feature available to other users in your region who have Cash App, then it may be due to any of the other factors on the reason why you have not got the access yet.

Credit History

This is another important factor that can impact your eligibility to get access to Cash App’s borrow feature. A decent credit score definitely improves your chances to be eligible to access the Cash App borrow feature.

On the other hand, a low credit score may work against you. There are also situations where users had access to Cash App borrow feature which later ended or disappeared. So it is one of the important inputs in the algorithm in getting access to the Cash App borrow feature, although not the only factor.

Cash App Usage

If you use Cash App sparingly, it can be one of the factors depriving you of the Cash App Borrow feature. Using Cash App to send and receive money with your family and friends is one easy use case.

You can increase the frequency of your transactions if it works for you.

Linking your bank account and or debit card to Cash App to move money to Cash App and cashing out from time to time may also help.

If you use Cash App other features like investing etc. may also favor you.

Again, it’s not very clear how significant this factor is in terms of using the various features of Cash App.

But if you have a fairly active Cash App account, it should not be an issue.

Direct deposit enabled for a users Cash App account

If you have a direct deposit set up with Cash App, this can be a factor in your favor. This is not a must-have as there are Cash App users who have got the borrow feature access without a direct deposit.

But it tilts the scale in your favor as Cash App has visibility on your payroll, which can serve as an important input to know how much they can lend you.

Cash Card usage

If you have the Cash App Card, use it more often for your day-to-day purchases. You also get the Cash App Boost offers from time to time that can get you a discount benefit.

You can use Cash App Card at the gas station, for a coffee at Starbucks, buy groceries, get fast food, etc. All the purchases add up.

You can also make your bill payments or subscriptions using Cash App Card. Do keep in mind that Cash App does not offer overdraft though.

Alternatives to Cash App Borrow

If you don’t have the Cash App borrow feature yet, don’t sweat about it.

There are alternatives available which may even be cheaper options. As explained earlier, Cash App borrow interest rate is actually quite expensive. A 5% interest rate for a month is a 60% APY, which is quite a bit.

A great alternative option is Chime Spot Me if you set up a direct deposit of $200 or more with Chime bank. It does not have any interest or late charges. You can do a voluntary tip. You can overdraft as well as withdraw cash from ATM or use cashback transactions up to your Spot Me limit which can range from $20 to $200 (automatically determined by Chime)

You can look at some other cash advance apps like Dave, Earnin, MoneyLion, etc.

Wrap Up

The Cash App borrow feature is a convenient option, but not available to all users and is not a cheap option. Cash App tends to be selective in letting you access this feature, as is the case with many of its other features. Some of the important factors that impact your eligibility are covered in this post. It is not a great idea to rely on it as the only option, even if you have access to it.

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I am a blogger with a passion for finance and technology. On this website, I share helpful information mostly on products and services, that we use in our daily lives.

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