Instant Loans* do not offer a formal grace period or payment deferral option. If you miss a loan payment, simple interest will continue to accrue daily on the unpaid principal in accordance with Chime's stated Annual Percentage Rate (APR), which is capped at 36%.
If your loan remains unpaid:
- Interest will continue to accrue daily until your loan is paid.
- At 15 days past due, you may lose access to other Chime features, like SpotMe® and MyPay®.
- At 30 days past due, your loan may be reported as delinquent to the credit bureaus, which can affect your credit score.
- A delinquency may affect your eligibility for Instant Loans in the future.
- A delinquency may affect your eligibility for Instant Loans in the future.
*Instant Loans are made by The Bancorp Bank, N.A.