Thank you! I have been trying to **bleep** that fast! A few users in the testing phase who were offered a card and hit yes, by chance just received an offer and accepted it. It snuck through but again this was during the testing phase and now they have fixed that issue! It clearly states that you can have one or the other because of what you mentioned above. Square is not going to overextend you to the point where you are finding it difficult to pay back both. Thank you again for clearing that up! Like anything new, there are always hiccups along the way and this was one. But it's fixed now.
Awesome! Congratulations 🎉 we have been updated since November!!!!!! This is a subject we still like to refer any questions to the Mods or yourself as it’s personal and not everyone will qualify its done on a per person basis. So, some will and some won’t. Those that don’t qualify for both can call in and choose and say just for instance your loan offers are larger than your credit card limit you can tell them that you prefer to just have the loans and would like to discontinue your credit card. From the beginning it was a flat out NO! As things continued they updated their policies. It’s going to be interesting for some people as to what or why but like anything new they improved it, it’s been running great since early roll outs. Now, unfortunately myself and others like myself will have to say “maybe “ 🤔🤔🤔 like loans they have a list of criteria’s for both. You are my 2nd yes, and I believe 4th no. That’s kinda hard to explain besides to call on individual basis. I’m only guessing here till our next update it will be the overall health of your business, credit worthy wise, did you handle both and wasn’t over extended. Those are just IMO but concerns when it rolled out. That’s a good thing about the algorithm collecting data all day every day it crunches those numbers. Congratulations on your loan offers! 3 reports in one day! Thank you for your updates on the card as well. If you see us post please contact customer support regarding this matter it’s just because it will be based on each individual account as of now. I’m sure soon they will have down to only those who qualify for both will be offered both. Great news number 2!
As you are seeing now some people are able to keep both. It’s been a lower mix for both or those that are reporting. If you read my response to DD who has a card and just received another offer. Unfortunately, in November when we were updated it was a flat out NO! Since then I’m sure the algorithm crunches the numbers and determines which, why, and how much. Just IMO. It does state to call customer service and say your 💯 paid off and no new offer and have the card. Call customer service and you will have a choice to keep the card or I prefer loans only. For those posting here at least it’s about 2/3 out of 10 who are and do have both and received a current loan. Others chose the loans as you stated I believe your offers are much higher. (I apologize if you didn’t post that) going forward myself only I would prefer to answer this question as please call customer service as it’s a based on your account specifically. Hopefully, soon those who receive a card will also know they are eligible for both. A clear yes or no upfront.
At the beginning of the testing phase, it was being offered to one or the other. Written in stone no it wasn't that I could find. This is NOT the case anymore. Loads of people have both. They are still being offered loans and approved. Many new tools are being worked on daily behind the scenes as new things roll out they are constantly watching to ensure all is running at 100% The Credit card during that phase like all the others was closely watched. It has been great for cards and yes you can have both there are no issues at all. Enjoy having both!
Yes, you can't apply for one yet, it is still being just offered to others outside of Beta testing according to 2 weeks ago in one of messages I received about addressing it correctly. It's been running smoothly for the 3 mths now or so and glitches, no more offers for both at the same time or during the process of getting the card, and boom an offer came in at the same time. All that is working great and NO more cross-over misses.
So far yes! Most have been using it like a LOC or emergency and some are just deals to pass up on. That’s what it’s for though to use it via a loan and so far the last time I looked all was running great! Did you accept the card invite or no? I’m curious if you pass on it and say you’re at 81% how long it took to get that no thank you memo so you stay in the algorithm and choose to loans instead. I know now if you hit accept for the card it triggers the system about future loans but I haven’t seen or heard of anyone turning it down and how long before an offer came in depending of course what % you or they are at during this. Now, I have to go digging 😂 see if bigger minds know that answers. Good luck and hopefully, by now you received your offer or card.
According to the ones doing the Beta testing from the start as of now no. In the beginning a few slipped through who were both offered a card and loan picked them up. I did go ask and your card same as your loan is based on sales so if you make X amount they won’t over extend your 2x the repayment amount. Each one is under better review card and loans to improve on both and get it more accurate to what you are making each month and growing or averaging the same to better determine loans and credit card but as of tonight besides the ones that snuck through it is one or the other but not both at the same time. They review your card and adjust it vs sales and offer increases etc. but I made sure I checked into and copied the release from the Beta site.
f you have both it's by a fluke in early testing a group who accepted the card offer and were in the range of a loan being offered snuck through during the testing of the card. They caught it and that has been stopped. Now, that it has rolled out to the community it clearly states you can only have one! The reason why is that if your loan is say 20% payback and your paying back your card at even 20% of the balance that's almost half (40%) of your daily sales. They don't want you to overextend yourself and not be able to make your payments or maintain your business needs. There was a good chunk that did receive both all around the same time period. So, I am not saying that you don't have both but it wasn't supposed to happen, and it was fixed pretty quickly. How that will work going forward I don't know because most offered both around the same time period are now just getting closer and closer to an offer range. Just myself I would contact the loan department or I can tag someone who can look it or connect you with the right department now and see what the solution is. @TheRealChipA@Sammie_C can either one add some more current information about this or clarification about moving forward? Thank you!
If you have both it's by a fluke in early testing a group who accepted the card offer and were in the range of a loan being offered snuck through during the testing of the card. They caught it and that has been stopped. Now, that it has rolled out to the community it clearly states you can only have one! The reason why is that if your loan is say 20% payback and your paying back your card at even 20% of the balance that's almost half (40%) of your daily sales. They don't want you to overextend yourself and not be able to make your payments or maintain your business needs. There was a good chunk that did receive both all around the same time period. So, I am not saying that you don't have both but it wasn't supposed to happen, and it was fixed pretty quickly.
