How Credit Builder builds your credit

What Chime reports and when

Chime sends your Credit Builder activity to Experian®, TransUnion®, and Equifax® at the beginning of each month. After Chime reports, it may take a few more weeks for changes to appear on your credit report and for your score to update — this delay is normal.

Each month, Chime reports:

• Payment status — whether you paid your last statement on time

• Amount past due — any unpaid balance from your last statement (reported as current if paid in full)

• Current balance — what you have spent since your last statement, plus any unpaid balance

• Account age — how many months you have had your Credit Builder card

• Last payment date — when you made your most recent payment

• Highest or original amount — the highest balance you carried before paying it off

Chime does not report a credit limit or card utilization. Because Credit Builder has no pre-set limit, there is nothing to report. Even if you move a large amount into your Secured Deposit Account (SDA) and spend it all, it will not show up as high utilization on your credit report.

How your credit score is calculated

Your credit score is based on several factors. Experian breaks these down in the Chime app with ratings for each one, ranging from No Rating to Exceptional. Your overall score falls into one of five ranges: Poor, Fair, Good, Very Good, or Excellent.

The five factors are:

• Payment history — whether you pay on time (this has the biggest impact)

• Amount of debt — your total outstanding balances across all accounts

• Credit history length — how long you have had credit accounts open

• New credit — how many accounts you have recently opened

• Credit mix — the variety of credit types you have, such as cards and loans

Scores can shift over time. A new account, a late payment, or a change in your balance can all cause a short-term dip. Consistent on-time payments usually bring scores back up.

Tips for building credit with Credit Builder

The most effective thing you can do is pay your balance on time every month. Turn on Safer Credit Building so payments happen automatically. Keep enough money in your SDA to cover your balance, and consider adding eligible bill payments through Experian Boost® to give your score an extra boost.

For autopay setup, see Pay your Credit Builder statement.

To add Experian Boost, see Use Experian Boost® with Chime.

For the Chime Card equivalent, see What Chime Card activity gets reported and not reported? 

On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to TransUnion®, Experian®, and Equifax®. Impact on your credit may vary, as credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.