Brianne Larch, WalletHub Credit Card Analyst
@BrianneLarch
Yes, the Chime Credit Card is a secured credit card. This means that this card 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. So, it would be best to add a security deposit of at least $200*. And 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 the Chime Credit Card?
You can apply for the Chime Credit Card online or via the Chime app for iOS and Android.
You can qualify even with bad credit but you'll need a Chime Spending Account to be considered eligible.
read full answerCan I use my Chime Credit Card anywhere?
Yes, you can use your Chime Credit Card anywhere Visa is accepted.
The good news is that it comes with a 0% foreign transaction fee, which makes it an excellent companion for traveling abroad, or for shopping online.
read full answerWhat's the starting credit limit for the Chime Credit Card?
There is no pre-set starting credit limit for the Chime 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.
How the Chime Credit Card Credit Limit Works
Although the Chime Credit Card is a secured card, it doesn’t require a minimum security deposit. But your spending limit equals the amount that you transfer...
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