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Chime® is a financial technology company, not a bank. Banking services, credit, and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
Learn how Credit Builder helps you build credit
The Chime Credit Builder Visa® Credit Card is our no annual fee, no interest, secured credit card that helps you build your credit. In this guide, you’ll learn all the basics – so you can get the most out of your Credit Builder card and start building credit like a pro. 💪
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Already a Chime member? Learn how to sign up for Credit Builder
How it Works
1. Move Money
The first step is to move money into your Credit Builder secured account. It’s fast and easy: You can do that right in the Chime app. The money you move to your secured account is the amount you can spend on your card (displayed as Available to Spend).
There are two ways to move money into your Credit Builder secured account:
1. The best option is Move My Pay. Just choose an amount and it’ll automatically be transferred from your Checking Account to Credit Builder whenever you get paid.
Note: You can make changes or move money between your Chime accounts at any time.
2. The second option is to do it manually. Just remember that you’ll be responsible for moving money from your Chime Checking Account into your Credit Builder secured account anytime you want to increase your Available to Spend.
2. Spend Money
You can use your Credit Builder card anywhere Visa® is accepted, around the world.
Here are 2 key benefits of using your Credit Builder card for everyday purchases:
1. Always know how much you have left to spend and avoid outstanding balances. The money you move into your secured account is how much you can spend. You can even use that money to pay for monthly spendings – automatically.
2. We don’t report credit utilization, which meansyou can use Credit Builder without contributing to a high-utilization record on your credit history. With Credit Builder, you control how much you can spend on Credit Builder by managing your secured account balance.
3. Build Credit
Credit Builder offers features that help you stay on top of key factors that impact your credit score. That means that the consistent use of Credit Builder can help you build payment history, increase the length of your credit history over time, and more.
Two ways Credit Builder can help build your credit:
1. On-time payment is a crucial aspect of building your credit score. At the end of each month, you can pay your monthly balance with the money in your secured account and we’ll report your monthly balance paid in full to the major credit bureaus². This way, your everyday purchases like gas, groceries, bills, and subscriptions can count towards your credit history.
2. The best way to ensure on-time payment is by turning on Safer Credit Building.
Reminder: When you make a purchase, the money you spent is put on hold in your secured account. Safer Credit Building uses that money to automatically pay your monthly balance. This will help you avoid late payments and outstanding balances.
Why Credit Builder?
Chime Credit Builder
Traditional Secured Credit Card
Traditional
Credit Card
Average Annual Fees*
$0
$22
$0-$93
Average APR*
No interest
19%
12% - 17%
Average Max Late Fee*
$0
$34
$36-38
Credit Check to Apply
No
Yes
Yes
Security Deposit Requirement
No minimum requirement³
Usually $200 - $500**
None
Can Use Security Deposit for Payment
Yes
No
N/A
Credit Reporting
Major credit bureaus
Major credit bureaus
Major credit bureaus
Average Annual Fees*
Chime Credit Builder
$0
Traditional Secured Credit Card
$22
Traditional
Credit Card
$0-$93
Average APR*
Chime Credit Builder
No interest
Traditional Secured Credit Card
19%
Traditional
Credit Card
12% - 17%
Average Max Late Fee*
Chime Credit Builder
$0
Traditional Secured Credit Card
$34
Traditional
Credit Card
$36-38
Credit Check to Apply
Chime Credit Builder
No
Traditional Secured Credit Card
Yes
Traditional
Credit Card
Yes
Security Deposit Requirement
Chime Credit Builder
No minimum requirement³
Traditional Secured Credit Card
Usually $200 - $500**
Traditional
Credit Card
None
Can Use Security Deposit for Payment
Chime Credit Builder
Yes
Traditional Secured Credit Card
No
Traditional
Credit Card
N/A
Credit Reporting
Chime Credit Builder
Major credit bureaus
Traditional Secured Credit Card
Major credit bureaus
Traditional
Credit Card
Major credit bureaus
Join the millions of members already using Credit Builder
Available for Chime Checking Account holders with eligible direct deposit¹
Apply Now
Already a Chime member? Learn how to sign up for Credit Builder
Looking for more information?
Chime® is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card and the Chime Credit Builder Visa® Credit Card are issued by The Bancorp Bank, N.A. or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit and credit cards are accepted. Please see the back of your Card for its issuing bank.
While Chime doesn’t issue personal checkbooks to write checks, Chime Checkbook gives you the freedom to send checks to anyone, anytime, from anywhere. See your issuing bank’s Deposit Account Agreement for full Chime Checkbook details.
By clicking on some of the links above, you will leave the Chime website and be directed to a third-party website. The privacy practices of those third parties may differ from those of Chime. We recommend you review the privacy statements of those third party websites, as Chime is not responsible for those third parties' privacy or security practices.
Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. and Stride Bank, N.A. (“Banks”). Banks are not responsible for the accuracy of any content provided by author(s) or contributor(s).
Third-party trademarks referenced for informational purposes only; no endorsem*nts implied.
*https://creditcards.usnews.com/articles/fee-survey#:~:text=Nearly%2070%20percent%20of%20credit,late%20fee%20is%20about%20%2436
**https://creditcards.usnews.com/
1 To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer-to-peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
2 On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
3 Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
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