In this post, I will work you through Chime credit card reviews from start to finish so that you do not have to spend time researching the same.
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Chime Credit Card AKA Chime Credit Builder Card
Chime’s Credit Builder Secured Visa Credit Card is a secured credit card that enables you to establish credit while paying no annual fee or interest. Everyday expenditures like petrol, bills, subscriptions, and groceries, may all contribute to your credit score because Chime records and submits a report of all your payments to major credit agencies.
Remember that Chime Credit Card which is also referred to as Chime Credit Builder Visa card is an alternative for consumers who need to restore their credit or start from fresh with their credit history. No yearly fee is charged, and no interest is charged on any transactions. Chime doesn’t have a credit score criterion, and it doesn’t undertake credit checks.
How To Use Chime Credit Builder Card
Applicants have to be willing to create Chime Spending Account, which has no minimum amount and no overdraft penalties. To be eligible for a Credit Builder protected account, you need to set up a direct deposit with Chime. Make sure you provide your employer with the right Chime routing number. ACH deposits through Venmo or Cash app are not allowed.
For you to submit an application for a Credit Builder secured account and acquire a Chime Visa credit card, you must deposit at least $200 into you initially created Spending Account within 365 days of your application. This allows you to move funds from your Spending Account to your secured account using My Pay, the Chime app any time you get paid.
How To Get Chime Credit Builder Card
Potential users must be ready to get a new Spending Account, which is Chime’s free checking account with no minimum balance requirement and no penalties for overdraft. To be eligible for a Credit Builder account, your employer must set up a direct deposit with Chime for your paychecks.
How To Withdraw Money From Chime Credit Builder Card
The Chime Credit card works like any other debit card at the ATM. Despite the $500 daily ATM withdrawal restriction, you may use the Chime Credit Builder Card to withdraw cash from any of the 60,000+ Chime ATMs around the country. Using other banks ATM will lead to extra fees.
Is Chime Credit Builder Card Free?
Yes, it is free. One of the nicest aspects of the Chime Credit Builder card is that it is entirely free to use. Considering the fact that there is no way you can pay late, there are no extra costs, such as yearly fees, late fees, and interest charges, that other secured cards impose, it may be the best choice to save some money.
How To Transfer Money From Chime Credit Builder Card
This is how transfer the unspent money on your credit builder card to your checking account
- Go to Chime App
- Select Move money
- Tap the Transfer button
- insert the amount
- Hit Send