If you miss a payment or your Instant Loan* becomes delinquent, simple interest will continue to accrue daily on the unpaid principal of your loan in accordance with Chime's stated Annual Percentage Rate (APR), which is capped at 36%.
If you're 15 days or more past due, you may become ineligible for SpotMe® and MyPay®. If you’re 30 days or more past due, you may become ineligible for another Instant Loan, and it will be reported to the credit bureaus, which could negatively impact your credit score.
*Instant Loans are made by The Bancorp Bank, N.A.