Though the cash app is popularly used for online monetary transactions, many people assume that it is only for debit card users. Most people are unaware if it allows customers to link up with a credit card or not. That’s why people often ask, can they use a credit card on the Cash app?
There is no issue to use a credit card on the Cash app. Just simply need to follow some procedures and gather adequate knowledge before using your credit card on the Cash app. And it is amazing to avail credit card benefits on the Cash app that makes transactions easier.
So here, I would mention all the necessary information that you need to know regarding credit card usage on the Cash app. Stay with me as this would facilitate and broaden your monetary management:
Does The Cash App Issue Credit Cards?
I assume you know that the Cash app does issue debit cards. But it doesn’t issue any credit cards.
But recently, the Cash app has introduced new features that allow you to link up your credit card with the app and use all the facilities it offers. It has expanded its usability and now, any person having a credit card can access this app.
So, you can only use a credit card on the Cash app if you have one. If you don’t have a credit card, you can’t use any credit card facilities in this app.
How To Use A Credit Card On The Cash App? (6 Simple Steps)
As the cash app does not issue any credit card to the users, you need to have a credit card first. You can apply to your bank or an issuer to get your credit card.
After you receive a credit card, you have to link your credit card to the Cash app. Just the way you link your debit card with the app, similarly, you have to link up your credit card with the app following the same procedure.
So how to link up your credit card to the Cash app? Here are the 6 simple steps:
The first step is to download the Cash app on your mobile phone (can be ioS or Android). Install the app. Open the app and then sign up by providing the basic information like name, address, etc.
Next, you have to move to the profile tab of the app which is also known as the ‘My Cash’ tab. The tab has an icon that looks similar to the icon of a house.
The tab comes in the bottom left portion of the screen. This is the section from where you would regulate your account and activities.
Here comes the option, ‘Add Bank’. When you press this option, it gives two more options, ‘Cash’, and ‘Bitcoin’. You need to select the option ‘Cash’.
Now, input all your bank account details to link up your bank account with the Cash app. As you link your account, now you can add your card to the app.
After adding your bank account to the app, go back to the ‘My Cash’ option. Now here you can see the option of adding a credit card. Press this option to start.
The app would ask for some information related to your credit card. This information includes the name of the cardholder, card number, CVV, card’s expiry date, and a ZIP code. Fill up the information accurately.
After you fill up all the information, you will see the option of ‘Add Card’. Press the option and you are done.
You can now see the option of a credit card whenever you enter the app to make a transaction. Now you can use your credit card through the Cash app.
Why Do Some Fail To Link Up Their Credit Card To The Cash App?
Some people may fail to link up their credit cards to the Cash app. This happens because they must be doing something wrong.
The Cash app provides certain criteria that you need to follow to link up your credit card to the cash app.
Make sure that you are trying to link your credit card only; not a debit card, ATM card, or PayPal card. Things would go wrong if you are selecting the option of ‘Add Credit Card’ and providing information about a different card.
The Cash app only allows linking up certain credit cards that are:
- Visa card
- American Express
Therefore, you have to have a credit card from any of these companies or banks to link it up to the Cash app.
Consider getting a credit card from one of these institutions if you are willing to use it via the Cash app.
Can You Send Money Using A Credit Card On The Cash App?
You can send money using a credit card on the cash app just like you do with a debit card. But you need to pay a 3% fee while paying with a credit card whereas transferring money with a debit card is free.
Besides, most issuers (except Discover) consider credit card transactions via the Cash app as a cash advance. Now when this is the case, your issuer would charge interest from the day of the transaction. If you fail to pay back quickly, you will end up paying a large amount of interest along with the money transacted.
So, first, know whether your issuer considers cash app transactions via a credit card as a cash advance or not. Only then you can make an informed decision.
Can You Earn Rewards Using A Credit Card On The Cash App?
If your issuer doesn’t consider transactions via a credit card as cash advance, you get an opportunity to earn rewards.
If you spend a specific amount using your credit card via the app, the app provides you rewards. There are various reward categories where you need to fulfill certain criteria.
If you can cross the expenditure limit and fulfill the criteria, even after paying a 3% fee, you can earn rewards of hundreds of dollars.
Now you have adequate information regarding how you can use a credit card on a cash app and access the facilities. However, learn every detail of your credit card from your issuer to make the best use of it.
Are you ready? Get started today!