Build or rebuild your credit history with the Chime Credit Builder Secured Visa® Credit Card, designed to promote financial health without the usual complications of secured cards.
Best for low-cost credit bulding
HOW TO APPLY
Link verified
Annual Fee
$0
Rewards Rate
N/A
Intro Offer
N/A
Credit Score
No credit check to apply
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Product Details
- No credit check, annual fees, or interest; no minimum security deposit
- Can be used for everyday purchases like gas and groceries
- Helps build credit history; reports to Transunion, Experian, and Equifax
- Potential to increase credit scores by an average of 30 points with on-time payments
- Real-time transaction notifications and instant card disable feature for security
- Issued by The Bancorp Bank or Stride Bank, usable wherever Visa is accepted
- 24/7 live support
- Fee-free use at over 60K+ in-network ATMs
- Available after signing up for a Chime Checking Account and receiving a qualifying direct deposit
- *Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
- **Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2022 and October 2022 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.
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Our Take
Pros:
- No annual fees
- No minimum security deposit*
- No credit check to apply
- A better way to build credit
- No APR and adjustable credit limit
- Help increase your credit scores/FICO® Score by an average of 30 points**
- High potential credit limit with a $10,000 maximum secured account balance
Cons:- No rewards
- No upgrade path
Highlights:
- No Annual Fee: Enjoy the benefits of building credit without any annual cost.
- No Security Deposit Required: Chime’s unique approach doesn’t require a security deposit from approved applicants to establish the credit line.
- Credit Building: Chime reports to all three major credit bureaus, helping you improve your credit score through responsible use.
- Zero Interest: Pay no interest on your purchases, reducing the cost of credit building.
- No Credit Check: Opening an account doesn’t impact your credit score, making it accessible for a wide range of credit histories.
- Easy Management: Use the Chime app to manage your account, track spending, and make payments towards your balance.
Ideal for those new to credit or looking to improve their credit score in a cost-effective, manageable way.
