What the Chime Credit Builder Card does
The Chime Credit Builder Card is a secured credit card that reports to the three major credit bureaus — Equifax, Experian, and TransUnion — to help you build or rebuild credit history. You fund a deposit account, then use the card to make purchases against that deposit. Chime reports your on-time payments to the bureaus, which can raise your credit score over time if you pay your bill in full each month.
The card is designed for people starting from scratch or recovering from past credit problems. Unlike a traditional credit card, you cannot spend more than the money you have already deposited, so the risk to Chime is low — and the risk to you is also low, since you are spending your own money.
Key Takeaways
- You deposit money into a savings account, and that deposit becomes your credit limit — if you deposit $500, your limit is $500.
- Chime reports your payment history to all three credit bureaus each month, so on-time payments build your credit score.
- There is no annual fee, but Chime charges a monthly fee of $2.50 if you do not meet a minimum direct deposit requirement.
- After 6 to 12 months of on-time payments, you may be able to convert to an unsecured card or receive your deposit back while keeping the account open.
- Your deposit earns a small amount of interest, though the rate is typically lower than a standard savings account.
How to set up the card and fund your deposit
To open a Chime Credit Builder Card, you need a Chime checking account. If you do not already have one, you will create both the checking account and the credit card account at the same time through the Chime mobile app or website. The process takes about 10 minutes and requires your Social Security number, date of birth, and a valid government ID.
Once your account is open, you choose how much to deposit. Chime's minimum deposit is typically $200, and the maximum is $2,000. This deposit sits in a linked savings account and becomes your credit limit. If you deposit $500, you can charge up to $500 on the card. Your deposit earns interest, though the rate varies and is usually between 0.5% and 2% annually — check Chime's current rate when you open the account.
You can fund your deposit by linking a bank account and transferring money, or by having your paycheck deposited directly into your Chime checking account. Direct deposit is the easiest route if your employer offers it.
Monthly fees and when you pay them
The Chime Credit Builder Card has no annual fee, which is a major advantage over many other secured cards. However, there is a monthly maintenance fee of $2.50 — but only if you do not receive a direct deposit of at least $200 into your Chime checking account during that month.
If you do have a may have access to direct deposit each month, the $2.50 fee is waived. This means the card can be completely free to use if you have a regular paycheck or other recurring direct deposit. If you do not have direct deposit, you will pay $30 per year in fees, which is still low compared to many credit-building products.
How payments work and what happens if you miss one
Your Chime Credit Builder Card bill is due on the same day each month. You can pay through the Chime app, and Chime offers automatic payments so you never have to remember to pay manually. The best approach for building credit is to set up automatic full-balance payment — this ensures you always pay on time and in full.
If you miss a payment, Chime will report it to the credit bureaus, which will hurt your credit score. A single missed payment can lower your score by 100 points or more, depending on your current score. Chime does not charge a late fee, but the damage to your credit is the real cost. If you fall behind, contact Chime as soon as possible to catch up — the sooner you pay, the less harm to your score.
When your deposit gets returned and the card converts
After 6 to 12 months of on-time payments, Chime may offer to convert your secured card to an unsecured card or return your deposit while letting you keep the account open. There is no may provide this will happen, and timing varies by account. Chime reviews accounts individually based on payment history and account activity.
If your account is converted to unsecured, your deposit is returned to you in full, and you can now use the card without a deposit backing it. Your credit limit may stay the same or increase slightly. If Chime returns your deposit without converting the card, you keep the secured card but no longer have money tied up — though your credit limit remains the same.
Check the Chime app regularly to see if you are may be able to access for conversion. Chime will notify you when it happens, but you do not have to wait passively — consistent on-time payments and regular card use improve your chances.
How this card compares to other credit-building options
The Chime Credit Builder Card is one of several ways to build credit from scratch. A traditional secured card from a bank like Capital One or Discover also requires a deposit and reports to the bureaus, but many charge annual fees of $25 to $95. Chime's fee structure is friendlier if you have direct deposit.
A credit-builder loan is another option — you borrow a small amount (usually $300 to $1,000), make monthly payments, and the lender reports to the bureaus. The advantage is that you build payment history without spending money upfront. The disadvantage is that you pay interest and must make fixed payments whether you use the money or not. With Chime, you only pay if you do not have direct deposit, and you control how much you spend.
Becoming an authorized user on someone else's credit card is free and can boost your score quickly if that person has good payment history. However, it does not build your own credit history — it borrows theirs. Chime builds your own history from the ground up.
What to watch out for when using this card
The biggest trap is treating the card like a regular credit card and overspending. Because your limit equals your deposit, you cannot go into debt — but you can drain your savings account. If you deposit $500 and charge $500, that money is gone from your savings. Use the card for small, planned purchases that you would make anyway, not as a way to spend money you do not have.
Another common mistake is missing payments. Because the card is easy to open and use, people sometimes forget to pay the bill. Set up automatic full-balance payment through the Chime app so you never have to think about it. This is the single most important step for building credit.
Finally, do not open the card and then ignore it. The card only builds credit if you use it regularly — at least once a month — and pay on time. Chime reports to the bureaus monthly, so consistent activity matters. Charge something small each month, pay it off automatically, and let the history accumulate.
Frequently Asked Questions
Can I use the Chime Credit Builder Card if I do not have a Chime checking account?
No. The card is only available to Chime checking account holders. You must open a checking account first, which is free and takes about 10 minutes. The checking account and credit card are linked, so you cannot have one without the other.
What credit score do I need to open this card?
Chime does not publish a minimum credit score requirement. The card is designed for people with no credit history or poor credit, so a low or nonexistent score should not disqualify you. Chime does perform a soft credit check, which does not affect your score, and may review your checking account history.
How much will this card raise my credit score?
There is no fixed answer — it depends on your starting point and how you use the card. If you have no credit history, consistent on-time payments over 6 to 12 months can raise your score by 50 to 100 points or more. If you have damaged credit, the improvement may be slower. The key is making every payment on time and keeping your balance low relative to your limit.
Can I withdraw money from my deposit while I am using the card?
Yes, but it will lower your credit limit. If you deposit $500 and withdraw $100, your credit limit drops to $400. Withdrawals are best avoided while you are actively building credit, since a lower limit can hurt your credit utilization ratio. Wait until your card converts to unsecured or you have built enough credit to move on.
What happens if I close my Chime checking account?
If you close your checking account, your credit card account will also close. Chime will return your deposit, but closing an account can hurt your credit score because it reduces your total available credit and shortens your credit history. Keep the account open even after you have built enough credit to move to a different card.