The Chime Credit Builder Visa Secured Credit Card is a brand-new way to develop credit and boost your credit score by an average of 30 points. Customers who desire to improve their credit score will find it easy and convenient.
This credit card has no annual fees, hidden interest, minimum security deposits, or credit checks.
Chime does not conduct a credit check when clients apply for a credit card because they believe everyone should have an equal opportunity to build credit.
Making every purchase count also requires raising your credit score by making on-time payments continuously.
Therefore, the Chime Credit Builder Card functions roughly as follows:
- When you transfer funds from your Spending Account to your Credit Builder Account, that amount becomes available for use with your card.
- When you use your Credit Builder Card by Chime on every purchase, your credit score begins to rise.
- Meanwhile, there is no credit balance to be paid off. The card works in reverse, with the money you transfer to the account already paying off the amount you spend.
- Chime only transmits things such as balances paid in full to the major credit agencies, which helps to boost your credit score.
You can apply for the Chime Credit Builder Card online if you currently have a Chime Spending Account and receive a qualifying direct deposit of $200 or more per year.
How Can I Transfer Funds From My Chime Credit Builder Card?
Money can be transferred from the Chime Credit Builder Card in the following ways:
- Navigate to the Move Money tab in the Chime app.
- Choose the Credit Builder Card and enter the transfer amount.
- Choose your Spending Account and then finish the transaction.
How Can I Move Money From My Chime Credit Builder Card to a Checking Account?
You can transfer funds from the Chime Credit Builder Card to the Spending Account by following the steps outlined above.
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Can a Chime Credit Builder Card Be Used to Get Cash?
The good news is that you may use your Credit Builder Card to withdraw money from any in-network ATM without incurring any fees.
It functions similarly to the Chime debit card. However, if you use an ATM that is not part of the network, Chime will charge you a $2.50 withdrawal fee.