Yes, taking an instant loan can impact MyPay® in two ways:
- It factors into your available now limit. Your MyPay Available now limit is based on your Qualifying Direct Deposit, account activity such as other Chime financial obligations, and internal risk-based factors. Since your loan payment is part of this calculation, along with MyPay and SpotMe®, your MyPay Available now limit may be lowered to make sure you don’t take on more than you can handle.
- Missing a payment can affect your access. If your loan payment is overdue by 15 days, you may lose access to SpotMe and MyPay. Staying on top of your loan payments helps keep these features available.