For instance, you can turn on the Safer Credit Building feature, which automatically pulls money from your secured account to cover your credit card bill. The Chime Credit Builder leaves little room for error in the credit-building game. If you manage the card well, your credit scores may improve. This information goes into your credit reports and can impact your credit. Like most credit cards, the Chime Credit Builder reports your credit card activity to the three major credit bureaus-Experian, TransUnion, and Equifax. There are no rewards and unlike many other secured credit cards it doesn’t offer you a path to a regular card once you have restored your credit. In a way, the Chime Credit Builder works like a prepaid card that reports your activity to credit bureaus. The amount you transfer becomes your credit limit which the card won’t allow you to go over. Once you have the money in your checking account, you can transfer as much or as little as you want into your Credit Builder secured account. You won’t have to pay any monthly, minimum balance, or overdraft fees on the account. All you need to get the card is to open a Chime Checking Account and have at least $200 in it. In fact, the Chime Credit Builder requires no credit check. Since this card’s main purpose is credit building, it’s accessible to potential cardholders of all credit levels.
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