What the Chime Credit Card Is

Chime offers a secured credit card through a partnership with Stride Bank. You put down a cash deposit—typically $200 to $2,500—and that deposit becomes your credit limit. You then use the card like any other credit card, making purchases and paying a monthly bill. Chime reports your payment history to the three major credit bureaus, which means on-time payments build your credit score over time.

The card is designed for people building or rebuilding credit. Unlike a debit card (which Chime also offers), a secured credit card creates a credit history. You are borrowing money against your own deposit, not spending money you already have.

Chime is primarily a mobile banking platform, so the credit card experience is built around their app. You manage the card, check your balance, make payments, and monitor your credit score all through the Chime app on your phone.

Key Takeaways

  • Your cash deposit becomes your credit limit, and Chime holds that deposit as security while you use the card.
  • There is no annual fee, but Chime charges a monthly fee of $2.50 if you do not meet a minimum monthly deposit requirement.
  • On-time payments are reported to credit bureaus and help build your credit score; missed payments also get reported and hurt your score.
  • After 6 to 12 months of responsible use, you may be able to graduate to an unsecured card and recover your deposit.
  • You must have a Chime checking account to open the credit card; the card is not available as a standalone product.

How to Open a Chime Credit Card Account

You start by downloading the Chime app and opening a Chime checking account if you do not already have one. The checking account is free and takes about 10 minutes to set up. You will need a Social Security number, a valid government ID, and a phone number.

Once your checking account is open and verified, you can request the secured credit card within the app. Chime will ask you how much you want to deposit as collateral—the minimum is typically $200. That money moves from your checking account to find the card, and your credit limit equals that deposit amount.

The card itself arrives by mail within 7 to 10 business days. You set up it in the app when it arrives, and you can start using it when ready.

Fees and Costs You Should Know

The Chime Credit Card has no annual fee. However, there is a monthly maintenance fee of $2.50 if you do not deposit at least $500 into your Chime checking account during that month. This fee is waived if you meet the deposit requirement, so the card can be free if you use your Chime checking account regularly.

There are no foreign transaction fees, and there is no penalty APR for late payments. However, your interest rate (APR) applies to any balance you carry. Chime does not publish a fixed APR; your rate depends on your creditworthiness at the time you open the account and may range from around 18% to 24%.

If you miss a payment, Chime reports it to the credit bureaus after 30 days past due. Late fees are not charged, but the missed payment will damage your credit score.

Building Credit and Graduating to an Unsecured Card

The purpose of a secured card is to prove you can use credit responsibly. Chime reports every payment—on time or late—to Equifax, Experian, and TransUnion. Making your full payment on time each month shows lenders you are reliable.

After 6 to 12 months of on-time payments, Chime may automatically convert your secured card to an unsecured card. When this happens, your deposit is returned to your checking account, and your credit limit may increase. You keep the same card and account number; the change happens behind the scenes.

Conversion is not may provide and depends on your payment history and credit behavior. If you miss payments or carry a high balance relative to your limit, conversion may be delayed or not happen at all.

How Payments Work

You make payments through the Chime app. You can pay your full balance, a minimum payment, or any amount in between. Payments are typically processed the same day if you pay before 5 p.m. ET on a business day.

Your statement closes on the same day each month, and your payment is due 21 days later. If you pay only the minimum, interest accrues on the remaining balance at your APR.

Chime does not offer automatic payments, so you must log into the app and make a payment each month. This is an important step—missing a payment important date will hurt your credit score, even if you have the money available.

Comparing Chime to Other Secured Cards

Chime's main advantage is that there is no annual fee if you use your Chime checking account regularly. Many other secured cards charge $25 to $95 per year just to hold the card.

The trade-off is that Chime requires you to have a checking account with them. If you already bank elsewhere and do not want to switch, another secured card might be simpler. Cards like the Capital One Secured Mastercard or the Discover Secured Card do not require you to open a bank account.

Chime's credit limit is capped at your deposit amount, with a maximum deposit of around $2,500. Some other secured cards allow higher limits or offer the option to increase your limit without increasing your deposit after a period of on-time payments.

What Happens If You Close Your Account

If you close your Chime credit card account, your deposit is returned to your checking account within 5 to 7 business days. Any remaining balance on the card must be paid off before or at the time of closure.

Closing the account does not erase your payment history. Chime continues to report your account to the credit bureaus for up to seven years, so the positive payment history you built stays on your credit report.

If you close your Chime checking account, your credit card account is also closed automatically. Your deposit is returned, but again, your credit history remains on file.

Frequently Asked Questions

Can I use the Chime Credit Card without a Chime checking account?

No. The credit card is only available to Chime checking account holders. You must open a checking account first, and the account must remain open to keep the credit card active.

What happens if I do not meet the $500 monthly deposit requirement?

You will be charged a $2.50 monthly maintenance fee. This fee is waived if you deposit at least $500 into your checking account during the month. The deposit can be from your paycheck, a transfer, or any other source.

Can I increase my credit limit without depositing more money?

Not with the secured card. Your limit is tied to your deposit. However, once you graduate to an unsecured card after 6 to 12 months, Chime may increase your limit, and you can request increases over time based on your credit behavior.

Does Chime report to all three credit bureaus?

Yes. Chime reports your account activity to Equifax, Experian, and TransUnion. This means your payment history affects your credit score across all three bureaus.

What is the interest rate on the Chime Credit Card?

Chime does not publish a fixed APR. Your rate is determined when you open the account based on your credit profile and may range from approximately 18% to 24%. You can see your specific rate in the app or in your account documents.