When it comes to borrowing money on Cash App, the impact on your credit score is quite nuanced. Initially, submitting personal information to access Cash App's borrowing feature does not affect your credit score. However, if you proceed to submit a loan application, some factors could come into play regarding your credit.

Overview of Credit Impact

1. Initial Submissions: According to the Cash App Borrow Agreement and its current version, your credit score is not affected when you first provide personal information. This essentially means that expressing interest in a loan does not automatically lead to a credit check.

2. Loan Application: Once an application is submitted, the situation changes. The details you provide and the outcome of your application could influence your scores, particularly if Cash App conducts a hard inquiry to assess your creditworthiness.

3. Negative Implications: Notably, failing to repay the money borrowed promptly may lead to negative repercussions on your credit score. Reports indicate that although Cash App does not currently report positive payment histories to credit bureaus, they can report defaults or missed payments, as discussed in an article from CreditGuide360.

4. Borrowing Responsibilities: Engaging with the borrowing feature might foster a sense of financial responsibility; however, as per input from users on Reddit, it does not inherently build credit unless payment histories are reported to credit agencies.

5. Final Conclusion: As stated in a WalletHub article, any loans obtained through Cash App do not contribute positively to your credit score, given the absence of reporting to credit bureaus.

In summary, borrowing through Cash App does not immediately impact your credit score, but responsible repayment is crucial to avoid potential negative effects. Remember that as of now, Cash App does not report positive loan payments, so your credit score will not benefit from timely repayments.

Sources

Does Cash App Borrow Build Credit? - CreditGuide360.comBorrow Agreement | November 24, 2020 - Cash AppDoes the “borrow” feature build credit? : r/CashApp - RedditDoes Cash App Borrow Report to Credit? - CreditGuide360.comBorrow Loan Agreement | February 16, 2021 - present - Cash AppCash App Borrow: Expert Weighs In on Benefits and DrawbacksDo Cash App Loans Help Your Credit? - WalletHub

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