Discover details about the Chime Credit Builder Secured Visa and learn how to request yours.
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For those who are starting to build their credit, it’s often challenging to get a good card that meets your needs and provides the advantages you require. That’s why Chime introduces its innovative credit card to the market.
With the Chime Credit Builder Secured Visa, you can have a card approved immediately and enjoy the advantage of having total control in your hands since you define the credit limit.
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Follow our article to learn more about the credit card and how to get yours.
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What is required to apply for the Chime Credit Builder Secured Visa?
To apply for the Chime Credit Builder Secured Visa, you must meet the following requirements:
- Be a U.S. citizen or have a valid work visa.
- Be at least 18 years old.
- Have a residential address in the United States.
- Have a security deposit of at least $200.
- If you meet these requirements, you can apply for the card online and receive immediate approval.
How does the Chime Credit Builder Secured Visa work?
The Chime Credit Builder Secured Visa is a prepaid credit card designed to help consumers build their credit history.
Registration is free, and there are no annual fees or interest associated with the card. Additionally, there is no need to undergo a credit check to qualify.
To use the card, you need to transfer funds to your Chime account. This can be done by transferring money from another bank account, making a cash deposit at a Chime ATM, or using the Chime app.
The card’s credit limit is determined by the amount of the security deposit made. For example, if you make a $200 security deposit, your card’s credit limit will be set at $200.
The Chime Credit Builder Secured Visa is a great option for consumers looking to build their credit history.
The card is free, has no annual or interest fees, and reports payment information to the three major credit bureaus.
Are there differences between Credit Builder and traditional cards?
Yes, there are some significant differences between Credit Builder and traditional cards.
The Credit Builder’s credit limit is equal to the amount of your security deposit. Therefore, you must load the card before using it.
The Credit Builder is a free card with no annual fees or interest. Traditional cards may have annual fees, interest rates, and other associated fees, such as late fees, cash advance fees, and withdrawal fees.
To qualify for the card, you do not need to undergo a credit check. To qualify for a traditional card, you generally need to have a good credit history.
The Chime Credit Builder Secured is a good option for consumers looking to build their credit history but have a poor credit history or cannot qualify for a traditional card.
The Credit Builder is free, has no annual or interest fees, and reports payment information to the three major credit bureaus.
Is Credit Builder a secure card?
Yes, Credit Builder is a secure card. The card is protected by encryption and other security measures to safeguard your personal and financial information.
Additionally, the card is prepaid, which means you can only spend the money you transferred to your Chime account. This helps prevent you from getting into debt.
You also have the security of Chime, a reputable financial institution, making the Chime Credit Builder Secured Visa an excellent credit option.
Understanding the positives of the card
Here are the main positives of the Chime Credit Builder Secured Visa card:
- No annual fees or interest: The Chime Credit Builder Secured Visa card is free to sign up for and has no annual fees or interest.
This makes it an affordable option for consumers looking to build their credit history.
- No credit check required: To qualify for the card, you do not need to undergo a credit check.
This makes it a viable option for consumers with a poor or no credit history.
- Credit reporting: The Chime Credit Builder Secured Visa card reports your payment information to the three major credit bureaus.
This can help you build a positive credit history and improve your credit score.
- Credit limit: Your card’s credit limit is equal to the amount of your security deposit.
For example, if you make a $200 security deposit, your credit limit will be $200.
As you build a positive credit history, Chime will review your credit history every six months to determine if you qualify for a limit increase.
- Security: The card is protected by encryption and other security measures to safeguard your personal and financial information.
Additionally, the card is prepaid, so you can only spend the money you transferred to your Chime account, helping you avoid getting into debt.
- Overall, the credit card is a good option for consumers looking to build their credit history.
The card is free, has no annual or interest fees, and reports payment information to the three major credit bureaus.
How do I request my Chime Credit Builder Secured Visa?
Now, see how to request your Chime Credit Builder Secured Visa card in a straightforward manner:
- Access the Chime Credit Card website.
- Choose the “Get Started” button.
- Confirm the verification on the website.
- If you already have a Chime account, log in with your details.
- If not, fill out the form with your personal information and proceed.
- Continue filling out the requested documents.
- Confirm and submit to create your account.
- After creating your account, you should fill out the application to get your card.
- Once the form is correctly filled out, submit the application.
There you have it! Now, wait for the approval of your Chime Credit Builder Secured Visa, and it will be delivered to the registered address.
Liked learning about the card? Visit the website and request your card. Also, take the opportunity to explore other cards for you on our website.
Useful information
This content was produced in January 2024. In case of updates or changes to services and conditions, please contact the responsible bank.
Contact methods:
Contact Chime at 844-244-6363