What happens after paying off BoroCash?

Once you've paid off your BoroCash in full, there's a few things you need to know.

We’ll report the paid off BoroCash to the credit bureaus which will establish your positive credit history.

You also could be eligible to Recharge your account, or get another round of BoroCash. You’ll get a notification when you become eligible and you can do all of it from the Boro app.

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What is Recharge?

Once you’ve paid off your first round of BoroCash, you could be eligible to Recharge your account, or get another round of BoroCash. 

Recharge allows you to get more BoroCash in one of two ways:
1. When you are first approved for BoroCash, you are given a total amount you can borrow, a.k.a your cash limit. If you don’t borrow the full amount on your first order, you can recharge and get up to your cash limit.  

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  1. If you borrow your entire cash limit on your first order and pay back on time, you can become eligible for more BoroCash. Once you’ve made two payments on your BoroCash, you could become eligible to borrow more.
  2. If you borrow your entire cash limit on your first order and pay back on time, you can become eligible for more BoroCash. Once you’ve made two payments on your BoroCash, you could become eligible to borrow more.

You’ll get an email and a text message when you’re finally eligible for recharge. Your recharge offer will last about 48 hours from when you get the message. Check back on the app to know for sure if you’ve got BoroCash available.

Hint: Paying back on time can help increase your cash limit over time. It pays to pay on time (plus it can help you build strong credit history)!

Why am I not eligible for Recharge?

If you're ready for another round of BoroCash and Recharge is not available to you yet, there may be a few reasons. Our Recharge decision engine runs twice weekly to decide who is newly eligible so keep checking back. Otherwise, there are a few reasons that Recharge might not be available to you:

  • Have you paid off your first round of BoroCash? We cannot offer you more BoroCash until your repayment of BoroCash has reached a certain amount. As you make more payments, your Recharge eligibility improves.
  • Have all of your payments settled? BoroCash payments sometimes take a few days to clear and settle. Once we're 100% sure we've received all of your payments, we may be able to approve you for Recharge.
  • Were you late on any payments? If you had too many missed or late payments on your first round of BoroCash, we may not be able to offer you more BoroCash.

If you still aren't eligible and aren't sure why, please contact our customer support team so we can help you out. 

 

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