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What is the Chime Credit Card?
The Chime Credit Card is a credit card offered by the financial services company, Chime. It is a Visa-branded credit card, which means it can be used anywhere that accepts Visa credit cards. The Chime Credit Card has no annual fee and offers a 0% APR on purchases and balance transfers for the first 12 months. After that, the APR increases to a variable rate, currently 14.49% – 24.49%.
How Does the Chime Credit Card Work?
Chime is a mobile-first banking platform with a Visa debit card and an app that offers Financial Health tools to help you budget and save. Unlike a traditional banking experience, there are no fees with Chime. We’ll help you understand how the Chime Visa Debit Card works. The Chime Visa Debit Card is a reloadable prepaid card that you can use anywhere Visa is accepted.
You must be a Chime member to apply
Chime is a new kind of bank that offers a Visa® Debit Card, an online checking account, and powerful tools to help you manage your money — all with no hidden fees.
You must be a Chime member to apply for the Chime Credit Card. You can become a Chime member by signing up for an account online. Once you’re a member, you can add the Chime Credit Card to your account.
The Chime Credit Card is a Visa® Debit Card that you can use anywhere Visa is accepted. When you use the card, the funds are transferred from your Chime Spending Account to pay for the purchase. There are no interest charges or hidden fees; you simply pay for what you purchase.
The Chime Credit Card is subject to approval.
There is no credit check required
You do not need a credit check to qualify for a Chime Visa® Credit Card. Instead, we use an alternative method to assess your eligibility that does not impact your credit score.
You will receive a virtual card number
Your Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and can be used anywhere Visa debit cards are accepted.
Your card will arrive in a bright green envelope. Once you have received your card, you will need to activate it online or over the phone. After your card is activated, you will be able to use it for all of your everyday purchases, both online and in-person.
When you make a purchase, the funds are automatically transferred from your Spending Account to cover the cost of the purchase. If there are not enough funds in your Spending Account to cover the cost of the purchase, you can still use your card by selecting “Credit” instead of “Debit” at checkout and signing for the purchase. This will allow you to make the purchase with a line of credit that is separate from your Spending Account. You will then need to repay the credit line at a later date.
You can use your card anywhere Visa is accepted
The Chime Credit Card is a Visa card, which means you can use it anywhere that accepts Visa cards. This includes most stores, restaurants, and online retailers. You can also use your card to withdraw cash from ATMs.
How to Use the Chime Credit Card
The Chime credit card is a rewards credit card that offers points for every purchase you make. You can use your points to get cash back, gift cards, or travel. The Chime credit card also has no annual fee and a low APR.
Activate your card
Once you have been approved for a Chime credit card, you will need to activate it before you can start using it. To do this, you will need to log in to your online banking account. Once you are logged in, you will see an option to activate your credit card. Click on this option and follow the instructions. Once your card is activated, you can start using it right away.
Add your card to your Chime account
Adding your Chime Visa® Credit Card to your Chime account is quick and easy. Follow the steps below to add your card in the Chime app:
1. Tap the Menu icon in the top left corner of your screen.
2. Tap “Manage credit card”.
3. On the “Add Credit Card” screen, enter your card number, expiration date, security code, and name on card.
4. Tap “Add Credit Card”.
5. That’s it! Your card will now appear in the “Credit Cards” section of your Chime account.
Start using your card!
You can start using your Chime Credit Card as soon as you activate it! Just make sure to keep your credit card balance at $0 or above so you don’t get hit with a monthly fee.
To use your Chime Credit Card, just swipe it at any merchant that accepts Visa credit cards. You can also use it to make online purchases, or anywhere you see the Visa logo.
If you’re ever unsure if a merchant accepts Chime Credit Cards, just give them a call and they’ll be happy to tell you!
There is no annual fee for the Chime Credit Card. You will pay a 3% foreign transaction fee when you make a purchase in a currency other than USD.
There is no annual fee
Chime has no annual fee, so you can use your Chime Visa® Credit Card for the long term without having to worry about any additional costs.
There is no foreign transaction fee
Chime has a Mastercard®️ debit card that can be used anywhere Mastercard is accepted, including online and in-app. You can use your Chime card for purchases and ATM withdrawals, plus get cash back at thousands of participating retailers with Chime’s Cash Back Rewards Program. There are no foreign transaction fees, so you can use your Chime card while traveling internationally without worrying about extra fees.
There is a $2.50 ATM withdrawal fee
Chime Banking is a mobile app that offers a fee-free way to bank. There are no monthly service fees, no foreign transaction fees, no minimum balance requirements, and no bounced check fees. You can use Chime at more than 38,000 fee-free ATM locations across the country through The Bancorp Bank’s network of banks, including Allpoint ATMs. You can also get cash back with purchase at many retailers.
If you need to withdraw cash from an ATM outside of the Chime network, there is a $2.50 ATM withdrawal fee. You can avoid this fee by making a deposit at an in-network ATM or by transferring money to your Chime Spending Account from another bank account using ACH transfers (this typically takes 1-2 business days).
Chime Credit Card Review
Chime is a mobile-first banking platform that offers a suite of products including a spending account, a savings account, and a credit builder card. The Chime credit builder card is a subprime credit card that is designed to help people with little or no credit history build credit. The card has a $300 credit limit and a 29.99% APR.
There are a few key reasons why the Chime Credit Card may be a good choice for you:
-Chime does not charge any fees for using your credit card. This includes no annual fee, late payment fee, foreign transaction fee, or returned payment fee. This can save you a significant amount of money compared to other credit cards that do charge these fees.
-Chime offers a 0% APR introductory rate on purchases and balance transfers for the first 15 months that you have the card. After that, the APR will be a variable rate based on your creditworthiness. This can give you some breathing room to pay down your debt without accruing interest charges.
-Chime offers a rewards program that gives you 1% cash back on all purchases made with your card. There is no limit to the amount of cash back you can earn, and it will be deposited into your Chime account automatically each month.
There are a few potential drawbacks to using the Chime Credit Card:
-The 0% APR introductory rate on purchases and balance transfers is only available for 15 months. After that, the APR will increase to a variable rate based on your creditworthiness. If you think you will need more than 15 months to pay down your debt, this card may not be right for you.
-Chime does not offer any sign-up bonuses or special perks for using their credit card. While this is not necessarily a bad thing, it could be a dealbreaker if you are looking for those types of perks from your credit card provider.
– Cannot be used for cash advances
– No rewards program