Chime is a very popular financial institution, it is a digital bank, meaning that they do not have any physical branch, all financial transactions are carried out online using the bank’s website or the Chime mobile app.
Some of the major attributes of the digital financial bank is their “zero interest rate” for a Chime user and their “zero security deposit” for those who want to open an account with Chime.
In today’s article I’ll be explaining what a Chime credit builder card is, and how to move money from your Chime credit builder card…
What is a Chime credit builder card?
Chime created the Chime credit builder card to help its users build his/her credit history from the scratch.
The Chime credit builder card is a credit card that enables you to adjust your credit limit by adding money to the card.
Just like a prepaid debit card, the chime credit builder card can also be used in getting cash from any ATM, it has a daily limit of $500, it can also be used buy groceries, household items, purchase gas, and other exciting features like renting of cars, making hotel reservations, etc.
The Chime credit builder card is issued by stride Bank. You can request for a Chime credit builder card online through the Chime website.
This credit card doesn’t charge fees like the traditional bank’s credit card, you should also note that it offer rewards like a regular card.
To get access to the Chime credit builder card option, you need to own a Chime account that has been active for more than a year, and the account must have of cash limit of $200 for at least 365 days.
Now we know what a Chime credit builder card is, let’s dive right in.
How to activate a Chime credit builder card
Activating your Chime credit builder card is quite simple. Just go through the steps below:
Step 1: Log in to the Chime bank app or their official website with your details.
Step 2: once you’ve successfully logged in, go to the Chime homepage.
Step 3: tap on credit builder secured account
Step 4: click on the Activate card icon
You can also disabled your card easily, to prevent fraudulent activities.
The Chime credit builder card can be used anywhere a Visa credit card is accepted.
How to move money from a Chime credit builder card
To successfully move money from your Chime credit builder card, follow the instructions below:
- Firstly log in your account through the Chime bank app
- Below the Chime home screen, there’s a “move money” icon, click it.
- Then click on “transfer funds”
- Input the account details of your Chime spending account
- Put in the amount you want to to transfer
- Review the information and confirm
This feature was created for customers to transfer money to your spending account.
Although I personally advise you to just use an ATM, because it’s easier and faster.
Is it possible to add cash to your Chime credit builder?
Chime has a lot of Chime cash deposit partners, so it is possible to deposit money into your Chime credit builder account.
All you need to do is to find a retailer that is under the Chime network, for example Walgreens.
Once you locate the retail shop. Walk to the cashier and ask them to deposit cash to your Chime checking account.
Please be informed that you can only make a maximum 3 deposits in a day, and if you use a Chime deposit partner, there would be no application fees.
Do ATMs accept Chime credit builder cards?
Yes it is possible to use your Chime credit builder card. Please note that you can only withdraw the amount available to you i.e the money you deposited into your Chime credit builder account.
People who use the Chime credit builder card have a daily withdrawal limit of $500, and anytime you use an ATM that isn’t included in the Chime partners network, you may be charged a service fee.
What is the limit for a Chime credit builder card?
Once a person gets a Chime credit builder card, there’s no limit to the amount you can have in your Chime credit builder account.
However, a user can only deposit thrice in a day, and the cash mustn’t exceed $10,000.
Can I use my Chime credit builder without funds?
It is impossible for you to use the Chime credit builder with zero funds. Chime credit builder has a secure service that requires a particular amount of money to be deposited before you can use your Chime credit builder account.
That particular amount of money is used as your credit limit. The money is deposited for security reasons.