The Chime Credit Builder Visa® Card is an innovative credit-building tool designed for individuals looking to establish or improve their credit score.
Unlike traditional credit cards, it has no annual fees, no interest, and no credit check required for approval.
Limit card options
*Choose the credit limit you want on your credit card and see the available options:
CARDS: LIMIT OF UP TO $1,000 CARDS: LIMIT OF UP TO $3,000 CARDS: LIMIT ABOVE TO $8,000
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No credit check to apply
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Product Details
- No credit check, annual fees, or interest; no minimum security deposit
- Can be used for everyday purchases like gas and groceries
- Helps build credit history; reports to Transunion, Experian, and Equifax
- Potential to increase credit scores by an average of 30 points with on-time payments
- Real-time transaction notifications and instant card disable feature for security
- Issued by The Bancorp Bank or Stride Bank, usable wherever Visa is accepted
- 24/7 live support
- Fee-free use at over 60K+ in-network ATMs
- Available after signing up for a Chime Checking Account and receiving a qualifying direct deposit
- *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.
- **Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2022 and October 2022 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.
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Our Take
Pros:
- No annual fees
- No minimum security deposit*
- No credit check to apply
- A better way to build credit
- No APR and adjustable credit limit
- Help increase your credit scores/FICO® Score by an average of 30 points**
- High potential credit limit with a $10,000 maximum secured account balance
Cons:- No rewards
- No upgrade path
This secured card offers flexibility and helps users build positive credit habits while spending responsibly.
Why Choose the Chime Credit Builder Visa® Card?
For those struggling to qualify for a traditional credit card, the Chime Credit Builder Visa® Card offers a hassle-free way to improve credit without hidden costs. This card is linked to a Chime Checking Account, ensuring you only spend what you have while reporting your payments to major credit bureaus.
Key Benefits:
- No credit check required for approval.
- No annual fees or interest charges.
- Reports to all three major credit bureaus (Experian, Equifax, and TransUnion).
- No minimum security deposit required.
- Control spending by using only what’s in your linked Chime account.
How the Chime Credit Builder Card Works
Unlike traditional credit cards, the Chime Credit Builder Visa® Card works as a secured card but without the usual restrictions. Users can transfer money from their Chime Checking Account to set their spending limit, ensuring they never accumulate debt.
Steps to Use the Card:
- Set Up a Chime Checking Account – Required to fund and use the Credit Builder Card.
- Move Money to Credit Builder – Transfer funds to set your spending limit.
- Use the Card Anywhere Visa® is Accepted – Spend within your available balance.
- Make On-Time Payments – Payments are reported to credit bureaus, helping build credit.
Who Should Get the Chime Credit Builder Visa® Card?
This card is best suited for:
- Individuals with no credit history looking to start building credit responsibly.
- Those recovering from past credit issues who need a second chance.
- People who want a secured card but without a large upfront deposit requirement.
- Anyone seeking a debt-free credit-building solution with controlled spending.
Additional Features and Protections
- No interest charges, ensuring you never overpay.
- Automated reporting to credit bureaus to help build your credit score over time.
- Flexible spending limit that adjusts based on your Chime Checking Account balance.
- No hard credit pull, meaning your credit score won’t be impacted by applying.
- Chime’s security features, including real-time transaction alerts and the ability to instantly disable your card.
How the Chime Credit Builder Visa® Card Differs From Traditional Credit Cards
Unlike traditional credit cards, the Chime Credit Builder Visa® Card does not require a hard credit check, making it an excellent option for those with no credit history or those rebuilding their credit. Additionally, since it does not allow you to carry a balance, it helps prevent debt accumulation. Unlike secured credit cards, it does not require a large upfront deposit—your spending limit is determined by how much you move into your Credit Builder account.
Frequently Asked Questions
1. Does the Chime Credit Builder Visa® Card require a credit check?
No, there is no credit check required to apply. This makes it a great option for those with no credit history or those looking to rebuild credit.
2. How does this card help build credit?
The Chime Credit Builder Visa® Card reports all payments to the three major credit bureaus, helping you build a positive payment history, which is a key factor in credit scoring. Regular on-time payments can positively impact your credit score over time.
3. Is there a minimum security deposit required?
No, unlike other secured credit cards, this card does not require a traditional security deposit. Instead, your spending limit is determined by the funds you move into your Credit Builder account.
4. Will this card charge me interest?
No, the Chime Credit Builder Visa® Card does not charge interest on purchases. Since you can only spend what you transfer into your Credit Builder account, there is no risk of accumulating debt.
5. Can I use this card anywhere?
Yes, you can use the Chime Credit Builder Visa® Card anywhere Visa® is accepted, including online and in-store purchases.
6. How does Chime prevent overspending?
Since your spending limit is based on how much money you transfer from your Chime Checking Account, you can’t spend more than what you have available. This eliminates the risk of high credit utilization or debt accumulation.
7. What happens if I don’t use my card?
There are no penalties for inactivity, but using the card regularly and making payments helps improve your credit score over time. Regular usage ensures positive payment history, which is essential for credit growth.
8. Can I withdraw cash with my Chime Credit Builder Card?
Yes, you can use your card for ATM withdrawals without incurring additional fees from Chime, but keep in mind some ATMs may charge their own fees.
9. How quickly will my credit score improve with this card?
Credit improvement depends on multiple factors, including payment history and current credit status. Many users see positive changes within a few months of consistent usage and on-time payments.
10. How do I apply for the Chime Credit Builder Visa® Card?
To apply, you need a Chime Checking Account. Once you have an account, you can request the card through the Chime mobile app or website.
A Smart Choice for Building Credit
The Chime Credit Builder Visa® Card is an excellent option for individuals looking to build or rebuild credit in a simple, stress-free way. With no interest, no fees, and no credit checks, it provides a unique alternative to traditional secured cards.
If you want to take control of your credit journey while avoiding debt and fees, the Chime Credit Builder Visa® Card is a great solution. By using it responsibly, making regular payments, and ensuring positive credit habits, you can improve your financial future with ease.
Unlike other secured cards that require large deposits or charge annual fees, Chime provides a debt-free way to boost your credit score while maintaining financial stability. With smart spending, timely payments, and consistent usage, this card can be a game-changer for those looking to build or repair their credit.
