How does Cash App impact my credit score when it comes to cryptocurrency transactions?

3 answers

• rushJul 20, 2024 · a year ago
  Using Cash App for cryptocurrency transactions does not directly impact your credit score. Cash App is a peer-to-peer payment platform that allows you to buy and sell cryptocurrencies, but it does not report your transactions to credit bureaus. Therefore, your credit score remains unaffected by your cryptocurrency activities on Cash App. However, it's important to note that your credit score can be indirectly affected if you use a credit card to fund your Cash App account and then use that balance to buy cryptocurrencies. In this case, any missed payments or high credit utilization on your credit card can negatively impact your credit score.
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• Phool Fatima 305Aug 19, 2024 · a year ago
  When it comes to your credit score, Cash App itself does not have a direct impact on it. Your credit score is primarily influenced by your credit history, payment history, credit utilization, and other factors that credit bureaus consider. Cash App is simply a platform for buying and selling cryptocurrencies, and it does not report your transactions to credit bureaus. Therefore, your credit score is not directly affected by your cryptocurrency activities on Cash App.
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• Er1c Brow0Sep 03, 2021 · 4 years ago
  Cash App, like other cryptocurrency platforms, does not have a direct impact on your credit score. However, it's important to note that your credit score can be indirectly affected if you use a credit card to fund your Cash App account. If you miss payments or carry a high balance on your credit card, it can negatively impact your credit score. It's always a good idea to manage your credit responsibly and make timely payments to avoid any negative impact on your credit score.
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