How many Chime cards are there?

Answered by Edward Huber

There are two types of Chime cards available to members: a debit card and a credit card. Each card has its own unique features and benefits, catering to different financial needs and preferences.

1. Chime Debit Card:
The Chime debit card is linked to your Chime Spending Account, which is a free online checking account offered by Chime. It functions like a traditional debit card, allowing you to make purchases and withdraw cash from ATMs.

Features of the Chime Debit Card:
– Early Direct Deposit: With Chime’s early direct deposit feature, you can receive your paycheck up to two days earlier than traditional banks. This can be incredibly helpful for managing your finances and meeting your financial obligations.
– No Monthly Fees: Chime does not charge any monthly fees for the use of their debit card or spending account. This can save you money compared to other banks that may have monthly maintenance fees.
– Fee-Free ATM Access: Chime provides access to over 38,000 fee-free ATMs through the MoneyPass and Visa Plus Alliance networks. This means you can withdraw cash without incurring any additional fees.
– Automatic Savings: Chime’s Save When I Get Paid feature allows you to automatically transfer a percentage of your paycheck into your Chime Savings Account. This can help you build your savings effortlessly.
– Real-Time Notifications: Chime sends instant notifications to your mobile device whenever a transaction is made with your debit card. This can help you stay on top of your spending and detect any unauthorized activity.

2. Chime Credit Builder Card:
The Chime Credit Builder Card is a secured credit card designed to help individuals build or improve their credit history. It requires a refundable security deposit, which determines your credit limit. This card reports your payment history to major credit bureaus, helping you establish a positive credit history over time.

Features of the Chime Credit Builder Card:
– No Annual Fee: The Chime Credit Builder Card does not charge an annual fee, making it a cost-effective option for building credit.
– Refundable Security Deposit: You are required to make a refundable security deposit, which becomes your credit limit. This deposit is fully refundable when you close your account in good standing.
– Credit Reporting: Chime reports your payment history to the major credit bureaus (Experian, TransUnion, and Equifax), which helps you establish and improve your credit score.
– No Credit History Required: The Chime Credit Builder Card is available to individuals with limited or no credit history, making it a great option for those looking to build credit for the first time.
– Spending Limit Adjustments: Chime periodically reviews your account for credit limit increases without requiring an additional security deposit.

It’s important to note that neither card allows you to spend beyond the available funds in your Chime accounts. This means you won’t incur overdraft fees or go into debt with these cards.

To get either of these Chime cards, you’ll need to sign up for a Chime account, which you can do through the Chime mobile app or their website. The process is typically quick and straightforward, and you can start enjoying the benefits of Chime’s debit or credit card once your account is approved.

Personal Experience:
I have been using the Chime debit card for several months now, and I find it extremely convenient. The early direct deposit feature has been especially helpful in managing my finances and ensuring I have access to my funds as soon as possible. I also appreciate the fee-free ATM access, as it saves me from incurring unnecessary fees when withdrawing cash. The real-time notifications have helped me stay on top of my spending and provide an added layer of security. I have had a positive experience with the Chime debit card and would recommend it to others.