Cash App supports many different types of payment cards, including credit cards. While the payment giant supports credit cards, transferring money from these cards to the app isn't as easy as you might think and there's just a lot to understand in the process.
If you're looking to transfer money from a credit card to Cash App, I'll show you the best possible way to do it and what you should expect when making such a transfer.
How Cash App Works With Credit Cards
Before even looking to transfer money from a credit card to Cash App, it is best to know how the app works with credit cards.
Of course, Cash App definitely supports credit cards from Visa, MasterCard, American Express, and Discover. But when it gets to transferring money from these cards to the app, things get a little different as compared to transferring funds from a debit card.
I'm not saying the transfer is impossible, but it can be if considered in another sense.
Let's say for example you want to move funds from your credit card to your Cash App account balance. If you've tried this before, you should know it is not directly possible because the nature of credit cards does not support top ups to digital wallets like Cash App.
On the other hand, if you're looking to use your linked credit card to transfer money to another Cash App user, then I can say it is very much possible. Your credit card here serves its purpose as a linked payment card and is used as a funding source to make a payment.
When you make a payment with your credit card, it initiates a request from your available line of credit, and Cash App, just like any other payment app, is required to respect the main use of credit lines, which can only be used to make payments and not to top up your balance.
All this accounts to the fact that debit cards will always offer more flexibility with payment apps as compared to credit cards whose "credit" nature omits this flexibility.
Either way, you'll still need a debit card because this one is required to be linked to the app before you'll even see the option to link your credit card. That's the catch in this process.
What to Consider Before Transferring Money from a Credit Card to Cash App
There are a couple of things you need to know when looking to make such a transfer, which include:
- There's a 3% fee charged for all payments made through a linked credit card.
- You'll need to link a debit card to your account before you'll even have the option to link your credit card.
- Cash App might not support your credit card
Don't take Cash App's support for credit cards too far because it doesn't all credit cards and if this happens to you, the app will probably report the reason why it doesn't support the card with the main reason being that the card issuer charges additional fees for using it with payment services like Cash App.
Always go through your card issuer's Terms of Use before applying for a credit card from them.
Now, if you're sure all of these are okay for you, then you can proceed with the steps to make the transfer as shown below.
How to Transfer Money from a Credit Card to Cash App
We all now know that the best and probably the only possible way to transfer money from a credit card to Cash App is by linking it to the app and using it as a funding source to transfer to another Cash App user.
I'm going to be doing this step by step so that you won't miss any part.
To link your credit card to Cash App:
- Open the Cash App mobile app.
- Tap your profile icon at the top-right side of the screen.
- Scroll until you find "Linked Banks".
- Now, select "Link Credit Card".
- Enter your credit card number, expiry, CVV, and Zip code to continue.
- Make sure the credit card carries your name to avoid any issues with linking the card.
- Finally, tap "Link Card" to link your card.
Now that you've linked your credit card to Cash App, it is time to transfer funds to the Cash App—and of course, the process is just as easy as making a simple Cash App payment.
To do so:
- Enter the amount you want to send on the Cash App home screen.
- Tap "Pay".
- Enter an email address, phone number, or $cashtag you want to send the payment to.
- Enter what the payment is for.
- Finally tap "Pay".
If everything looks okay, the payment should be sent instantly.
How Long Does it Take to Transfer Money from a Credit Card to Cash App?
With everything being equal—I mean you've linked your credit card to Cash App, the transfer should be done instantly because it is just like making a simple peer-to-peer Cash App payment.
However, it can take even longer when things don't go as expected, especially when you face issues with linking your credit card to Cash App.
In some cases, you'll need to get another credit card if the app rejects your credit card, and this can take even up to 3 business days to get a supported card and link to the app before making the transfer.
Are There Limits on How Much You Can Transfer from a Credit Card?
Yes, both Cash App and your credit card issuer have limits on how much you can transfer in a day, a week, or 30 rolling days.
As for Cash App, you can send up to $7,500 per week once your account is verified. I can't say for credit cards because I don't know about your issuer. So consider checking your transfer limits with them.
Should You Really Transfer Money from a Credit Card to Cash App?
Transferring money from a credit card to Cash App comes at a cost of 3% of the total amount to be transferred.
That can be a very huge amount and can really weigh on someone transferring just a small amount.
And it isn't just as direct as transferring funds through a debit card. You'll first have to link a debit card to the app before you'll be able to link your credit card. It is a stressful process.
So I wouldn't recommend you to transfer money from a credit card to Cash App unless you really need to do so.
Final Thoughts
Cash App supports credit cards, but this doesn't mean you can transfer funds from these cards to your Cash App balance. You can only use them as a funding source for making payments through the app and this comes at a 3% cost of the total amount to be transferred.
So only consider transferring funds with a credit card on Cash App if you really need to do so because you wouldn't want to pay these charges while transferring the same amount with your debit card comes at no cost.