GITNUX MARKETDATA REPORT 2024
Cash App Borrowing Limit Statistics
The Cash App borrowing limit statistics would typically provide insight into the average maximum amount users are approved to borrow through the platform.
In this post, we explore the borrowing limits and key statistics associated with Cash App, a popular mobile payment service. From loan amounts and fees to user demographics and revenue figures, we delve into the details of Cash App’s borrowing feature and its impact on millions of users across the United States.
Statistic 1
"Users are allowed to borrow between $20 and $200 via Cash App."
Statistic 2
"Cash App charges a flat fee of 5% for its loan service."
Statistic 3
"Cash App loans must be repaid within one month."
Statistic 4
"Late fees won’t exceed 25% of the initial loan amount."
Statistic 5
"Cash App borrowing is only available in 25 U.S. states."
Statistic 6
"The annual percentage rate on a Cash App loan can be as high as 60%."
Statistic 7
"Cash Apps borrowing feature isn’t available if your paycheck is directly deposited into Cash App."
Statistic 8
"Cash advance feature was initially tested with about 1,000 Cash App users."
Statistic 9
"As of 2020, Cash App has reported having more than 30 million monthly active users."
Statistic 10
"Cash App generated a revenue of $1.23 billion in Q2 2020 alone, apart from borrowing."
Statistic 11
"Minimum Age to Access Cash App services is 18."
Statistic 12
"Approximately 7 million users received their stimulus checks through Cash App."
Statistic 13
"Over half of the Cash App users are millennials."
Jannik Lindner
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The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.
