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).
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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