What is chime credit builder card application?
Chime Credit Builder Visa Secured Credit Card is a brand-new way to build credit and improve your credit score by an average of 30 points. It is easy and quite beneficial for the customers who wish to improve their credit score.
There are no annual charges or hidden interests, no credit checks and no minimum-security deposit required for the credit card. Chime does not even run a credit check when customers are applying for a credit card as they believe that everyone deserves a fair shot at good credit. You can also make every purchase count by helping build up your credit score with regular on-time payments.
So, basically the working of the Chime Credit Builder Card is as follows:
- When you move money from the Spending Account to the Credit Builder Account, then that amount becomes eligible for spending through your card.
- When you begin using your Credit Builder Card by Chime everywhere on every purchase, your credit score starts building up.
- In the meanwhile, there is no credit amount to be paid off. The card works in a reverse manner, where the money that you are moving to the account is already paying off the amount that you are spending.
- Chime reports only items like balance paid in full to the popular credit bureaus which is what helps to improve your credit score.
You can apply for the Chime Credit Builder Card online if you are already a Chime Spending Account holder with eligible direct deposit of $200 or more over a period of a year.
Also Check:- How to get spot me on chime?
How to move money from chime credit builder card?
You can move money from the Chime Credit Builder Card in the following way:
- Open the Chime app and go to the Move Money tab.
- Select the Credit Builder Card and then input the transfer amount.
- Select your Spending Account and the complete the transaction.
How to transfer money from chime credit builder card to spending account?
You can follow the above steps to move money from the Chime Credit Builder Card to the Spending Account.
Can you withdraw cash from chime credit builder card?
The good news is that you can use your Credit Builder Card to withdraw cash at any in-network ATM without any withdrawal charges. It works similar to the Chime debit card. However, if you are using any ATM which is outside the network, then a minor withdrawal charge of $2.50 is imposed by Chime.