With Mount Shine’s Chime Credit Builder review, you will get to know how it helps you in your finances, whether it is the best secured credit card of 2023 or not. How it builds a credit score history for you. Get to know everything about Chime Credit Builder Visa® Card in 2023.
Chime Credit Builder Review 2023: Key Takeaways
Following are the chime credit builder review’s key takeaways in 2023:
- The Chime Credit Builder is a financial technology company, and it is not a bank.
- Bancorp Bank or Stride Bank issues debit cards and provides all the banking services.
- The Chime Credit Builder is a secured and traditional credit card, and also, if you have a bad credit score, they will help you maintain and build a credit history.
- The Chime Credit Builder works like a one-stop solution, as it does not charge any interest. It will let you adjust your credit limit with zero dollars annual fee, and no minimum security deposit is required.
- You can use your Chime Credit Builder card to purchase your daily needs, and it can be used anywhere that accepts a VISA card.
- By turning on the notification, you can receive real-time transaction alerts.
- You can apply online on their official website. They provide live support 24/7, so you are free to ask and share your problems regarding the Chime Credit Builder cards.
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Chime Credit Builder Review: Pros + Cons [2023]
Pros and Cons play a vital role while reviewing, giving more clarity in making the final decision. Below is Chime Credit Builder Review with its pros and cons to help you decide:
PROS
- Zero Charges: Chime Credit Builder, account holders, don’t have to worry about annual charges. They will charge you zero dollars as a yearly fee.
- No Credit Required: Whether you have no credit history or have a poor one, Chime Credit Builder approves your application. So, do not worry about the credit scores.
- Zero interest: yes, while using Chime Credit Builder, there will be no charges for the cardholders.
- There will be no maintenance fees or no international fees.
CONS
- No Offers and Rewards: unlike the other Credit cards, you won’t be able to enjoy the rewards or offers given by the credit card companies.
- Monthly Payments: you have to make total monthly payments every month.
- Direct deposits: although there is no requirement for a minimum deposit while opening an account with Chime Credit Builder, you must have one direct deposit of $200 every year.
- Credit Limits: your credit limit will be decided by how much you deposit in your checking account.
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Chime Credit Builder Visa® Card Review: Is It Worth It?
When you have so many options available in the financial market where other companies give tempting offers, it’s hard to choose the best secured credit card. The only way to get the best secured credit card is to compare the key features and benefits you’ll be getting. So, below are the key features and benefits of the chime credit builder visa credit card to help you decide what you will get after signing up:
Key Features
- The card type: Secured
- Security deposit: there is No minimum deposit required.
- Bonus and Rewards: no, there will be no bonuses and rewards.
- Annual fee: they will charge you zero dollars. There is no annual fee.
- APR: N/A
- Foreign transaction fee: there will be no transaction fee.
Benefits
- There will be no credit check.
- You can adjust your credit limits according to your preferences.
- There will be no interest charges. Which is a great benefit.
- While maxing out the use of your card, you don’t have to worry about your credit score.
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Chime Credit Builder: Is It the Right Best Secured Credit Card?
The credit card gives you various reasons to choose it, with annual zero fees and no minimum security deposit. The Chime Credit Builder ensures that you will save your money, and if you feel any fraud or security-related issues, you can close your account anytime. So, the Chime Credit Builder is secured.
Chime Credit Builder Review: Making The Decision
No minimum deposit, zero annual fees, and many other key features and benefits make the Chime Credit Builder a worthy credit card. But you cannot enjoy any rewards, and you won’t get any bonuses. So, if you are looking for a credit card that strengthens your credit history, Chime can be a great option, but if you want to enjoy the other perks, you must switch to other credit cards.
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Frequently Asked Questions
How does chime credit builder work?
Firstly, move your money from your checking account into a Chime Credit Builder account so you can send money. After that, you can use your Chime card anywhere where you can use your visa card. Including gas stations, groceries, or to make any purchase. It helps you build your credit by adding money to your Chime Credit Builder, automatically paying your monthly balance. It is much safer and helps you in building a strong credit history.
How much credit does Chime Credit Builder give you?
You can qualify for a credit limit of up to $200 with a deposit of $99 or $200.
Is Chime an excellent way to build your credit?
The Chime Credit Builder is an excellent way to build your credit as it helps you to improve it. Also, you can still apply for the Chime credit card while having no credit or poor credit.
Is chime credit builder an actual credit card?
Yes, the Chime Credit Builder is an actual credit card.
What information is needed to apply for a Chime Credit Builder Secured Visa Credit Card?
You need a Chime Checking Account and direct deposits of $200 or more. After that, visit their official website. Go to the chime app, click on settings, choose credit Builder, activate the card, and you are ready to go.
Does the Chime Credit Builder Secure Visa Credit Card report to all three credit bureaus?
The Chime Credit Builder Secured Visa Credit Card reports to all three credit bureaus.
