Brianne Larch, WalletHub Credit Card Analyst
@BrianneLarch
Yes, the Chime Credit Card is a secured credit card, so it requires a refundable security deposit. There is no minimum amount required, but your spending limit equals the amount that you transfer from your Chime Spending Account.
Unlike other secured credit cards, with the Chime Credit Card you can use your deposit to pay for monthly charges. Keep in mind that the Chime Credit Card can also help you build or rebuild your credit, just like an unsecured credit card. This card reports monthly to all three major credit bureaus (Experian, Equifax, and TransUnion).
People also ask
How do I apply for Chime Credit Card?
The only way to apply for the Secured Chime® Credit Builder Visa® Credit Card is online, and you can get to the online application by clicking the “Learn More” button on WalletHub or by going directly to Chime’s website.
Keep in mind that the Secured Chime® Credit Builder Visa® Credit Card requires bad credit, which means you need a 300+ credit score for high approval odds. Also note that applying for the card triggers a hard inquiry, which may temporarily hurt your credit score. So, it’s good...
read full answer by Adam McCann, Financial WriterCan I use my Chime Credit Card anywhere?
Yes, you can use the Chime Credit Card anywhere that accepts cards on the Visa network. That means you can use the Chime Credit Card at 10.7 million merchant locations in the U.S., as well as with millions more merchants across 210 countries and territories worldwide.
The Chime Credit Card has a $0 foreign transaction fee, which means you won't incur extra charges for international purchases. The card also comes with an annual fee of $0 and offers 1.5% cash back on rotating categories when you enroll in direct deposit with your card, so...
read full answer by Chip Lupo, Credit Card WriterWhat's the starting credit limit for the Chime Credit Card?
There is no pre-set starting credit limit for the Secured Chime® Credit Builder Visa® Credit Card'. The credit limit for this card depends on the money you decide to move into your Credit Builder Secured account. Chime only gives a maximum credit limit for this credit card, which is $10,000.
The Secured Chime® Credit Builder Visa® Credit Card credit limit that you start out with isn’t necessarily permanent. Chime will allow you to increase your security deposit for a higher credit line. In some cases,...
read full answer by Jason Miles, Wallethub Credit Card ConsultantDid we answer your question?
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A scurity deposit f at least $0? SO you can use it before putting $100 on it if your check hits tomorrow?Just wondering if $0 is a typo.