Does Cash App Card affect credit score?

Answered by Frank Schwing

Using the Cash App Card does not directly affect your credit score. The Cash App Card is a prepaid debit card that is linked to your Cash App account, and it does not require a credit check or have any impact on your credit history.

Unlike a traditional credit card, the Cash App Card does not involve borrowing money or extending credit. When you make a purchase using the Cash App Card, the funds are deducted directly from your Cash App account balance. Therefore, there is no credit line or credit utilization to report to the credit bureaus.

However, it is important to note that Cash App does offer a Buy Now Pay Later feature in select markets. This feature allows you to make purchases and repay over time. If you choose to use this feature, it may involve a credit check and could potentially impact your credit score.

When you apply for the Buy Now Pay Later feature, Cash App may review your credit history and assess your creditworthiness. This means that if you are approved for the feature, it could be reported to the credit bureaus as a new credit account. Any missed or late payments could have a negative impact on your credit score.

It’s important to use the Buy Now Pay Later feature responsibly and make payments on time to avoid any negative effects on your credit score. If you are concerned about your credit, it’s always a good idea to review the terms and conditions of any financial product before using it.

Using the Cash App Card itself does not impact your credit score. However, if you choose to use the Buy Now Pay Later feature, your credit score could be affected when you apply for it and if you miss or make late payments. It’s important to use this feature responsibly and make payments on time to avoid any negative impact on your credit.