Legacy product: Credit Builder is no longer available to new members. If you already have a Credit Builder account, you can keep using it. |
Credit Builder is the secured Chime Credit Builder Visa® Credit Card. Instead of a pre-set credit limit, your spending power comes from your own money. Here is how it works:
You move money into Credit Builder, which is held in your Secured Deposit Account (SDA). That amount becomes your spending limit.
You spend with your Credit Builder card anywhere Visa credit cards are accepted.
Chime reports your payment activity to Experian®, TransUnion®, and Equifax® at the beginning of each month.
On-time payments may help your credit score. Late payments may affect it.
There is no interest and no annual fee. Because there is no preset limit, Chime does not report a credit limit or utilization rate, which means spending freely on Credit Builder won't count as high utilization on your credit report.
Your balances in the app
When you open the Chime app with Credit Builder, you will see two separate balances. Your Checking Account balance is your everyday spending money. Your Credit Builder balance is the amount you can spend on your Credit Builder card, which always equals what you have in your SDA.
This is different from Chime Card. Members with Chime Card members see a single Available balance. Members with Credit Builder always see two separate balances: Checking and Credit Builder.
Credit Builder vs. Chime Card
Both cards are secured credit cards that help build credit. Here are the key differences:
Credit Builder (legacy) | |
|---|---|
Product status | Legacy — no new accounts being opened |
Balances in app | Separate Checking Account and Credit Builder balances |
Moving money | Manually transfer from Checking to Credit Builder before spending |
Available Balance | Not applicable — Credit Builder uses separate balances |
Cash back rewards | Not available |
Credit building | Yes — reports to all three bureaus |
For a full breakdown of Chime accounts, see What Chime accounts do I have, and which cards come with them?
Out-of-network ATM withdrawal and over-the-counter (OTC) advance fees may apply. The secured Chime Credit Builder Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A., pursuant to a license from Visa U.S.A. Inc.
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.