In these trying financial times, it can be helpful to find ways to increase cash flow, at least for a short time.
One customer of mobile payment app CashApp says she thinks she has figured out a particular method of getting her borrowing limit increased through the app.
In a video posted to TikTok, user Jasmine (@idcimjasmine) says she thinks that paying back the funds she borrowed from CashApp early has contributed to the financial services app raising her borrowing limit.
“When I return my borrowed money to CashApp a few days early and they increase that borrow limit,” reads the video’s text overlay.
The Daily Dot has reached out to Jasmine via email, as well as to CashApp via email regarding the video.
Do repayment habits factor into Cashapp’s borrowing limit?
While having good repayment habits might keep borrowers in good standing with their lender—in this case, CashApp—the money sending app only has one confirmed way to raise the borrowing limit of its account holders.
Per the CashApp site, the only confirmed way to increase a customer’s borrowing limit is for them to verify their identity. This can be done by providing their full name, date of birth and social security number.
The app began offering cash borrowing to users in 2020, initially limiting them to $200 paid back over four weeks. Now, CashApp allows users to borrow up to $1,000 and pay it back over four weeks.
Viewers weigh in
Some viewers shared their own tips for getting their borrowing limit increased. A few shared that they believe holding money in their CashApp accounts has contributed to higher borrowing amounts.
“The trick is you gotta add money to your cashapp like every week so they know that you can afford the borrow limit,” one commenter wrote.
“You have to keep money in your account at all times,” another commenter wrote.
“Pay early and keep money on it limit keeps going up,” a commenter wrote.
Others lamented that their borrowing capacities remained low, no matter what tricks they have tried.
“How do they increase it?” one commenter wrote. “Or what we gotta do? Mine still 25$”
“Howww,” another commenter wrote. “mines been at 25 for the longest.”
@idcimjasmine Perfect! Ayeeee #fyp #idcimjasmine ♬ original sound – BIGMISSTEAK 🤭
“I’m tryna get out this $75 give me the hundreds,” a commenter wrote.
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The post ‘I’m at $300 right now’: Woman shares trick for increasing borrow limit on CashApp appeared first on The Daily Dot.
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