There’s no sure-fire way to get the Borrow feature, but you may be able to increase your eligibility for the feature. It appears that the most active users that make regular deposits may become eligible. If you deposit at least $1,000 per month into your Cash App account, the feature may become available to you, according to Wallet Hacks. However, the factors listed above are still likely to be in play despite an active account.
If you believe you meet the requirements and still can’t borrow money from Cash App, it could be that it’s not available in your area just yet. If you’re ineligible for a Cash App loan, but still need a small loan, check out our list of best lenders for small loans.
If you are looking for a similar style cash advance up to $250, consider taking a look at Brigit’s cash advance app.
If you need to borrow more, check out Bankrate’s loan options from poor to excellent credit starting at $1,500.
Other apps that let you borrow money
Cash App isn’t the only way to get a cash advance. Compare these options by loan amounts, turnaround times and cost to find the right fit for your needs.
When to use Cash App Borrow
Cash App Borrow works best for emergencies — think a car repair, an unexpected trip to the doctor or vet and so on.
Its small dollar amounts make it a good alternative to personal loans if your credit isn’t strong enough — or if you need to borrow less than $1,000. It also costs less than a typical payday loan, although some alternatives like Payday Alternative Loans (PALs) from a local credit union have it beat.
Alternatively, other cash advance apps like Chime SpotMe and Dave are even better than Cash App Borrow — often offering free, instant loans with no credit check. However, some apps have monthly membership fees. And you often can’t qualify for a loan over $50 until you’ve used the app for a few months.
If you need funds quickly and you can’t borrow money from Cash App, a credit card could also be a good option. You won’t pay any fees or interest if you pay it back before your next bill.
Is it safe?
Cash App is owned by the reputable financial services and payment company Block (formerly Square), and it puts a lot of measures in place to keep your account secure:
Its app is PCI Data Security Standard Level 1 compliant — the highest level offered in the payment industry.
It encrypts all your financial transactions.
Users can set up two-factor authentication, security locks and biometrics for added safety.
That said, Cash App experienced a data breach on April 4, 2022, that affected more than 8 million users of Cash App Investing. The data breach came from a former employee who downloaded reports containing customer names, brokerage account numbers and, in some cases, portfolio values and trading data. It’s not yet clear how widely the information was shared or the damages faced by consumers.
For more information on how Cash App works, check out our Cash App review.
Cash App has been frustratingly quiet about its new short-term loans program, leading many users to wonder why they can’t borrow money from the app. If you have yet to gain access, explore other cash advance apps while you wait.