Want to see a full review of Chime Credit Builder Secured? From Responsible Economy we show you all the features: fees, interest rate, requirements and everything you need to know about the Chime Credit Builder Secured. We also show you a comparison with the best credit cards and an explanatory video. Welcome!
Video Chime credit builder
We have made a video with the main features of Chime Credit Builder Secured. If you like our content, subscribe to our YouTube channel to support us and receive videos every day:
What is Chime Credit Builder Secured?
Chime Credit Builder Secured is a Secured credit card. These types of credit cards are designed to build a credit score or rebuild it. You don’t need to have a credit score because Chime doesn’t check it.
How does it work?
The operation of Chime Credit Builder Secured is very simple. You have to make a deposit on the credit card and that same deposit is what you can spend every month. Instead of Chime giving you a credit, it is you who deposit it. As we have already said, this card is for those who do not have a credit score or who want to rebuild it.
Features
In this section we show you in detail all the characteristics:
Fees
It is evident that nobody wants to pay commissions so this is a very important point. Chime Credit Builder has no annual maintenance fees and applying for the card is free.
Bonus
It does not offer any welcome bonus.
Cash back
It also does not offer any cash back or discounts on purchases.
Minimum deposit
No minimum deposit is required. Remember that the deposit you make will be what you can spend.
Comparison with the best secured credit cards 2023
We have made a comparison of the Chime Credit Builder Secured with the best secured credit cards you can apply for in the United States in 2023:
- Fees: $0
- Cashback: 1,5%-6,5%
- Bonus: up to $300
- Credit Score: 690-850
- Fees: $0
- Cashback: 2%
- Welcome bonus: $200
- Credit Score: 690-850
- Fees: $95
- Cashback: 1x-5x
- Welcome bonus: 60.000 points
- Credit Score: 690-850
- Fees: $0
- Cashback: 1%-10%
- Welcome bonus:$200
- Credit Score: 690-850
- Fees: $95
- Cashback: 2x-5x
- Welcome bonus:75.000 miles
- Credit Score: 690-850
- Fees: $0
- Cashback: 1%-5%
- Welcome bonus: up to $300
- Credit Score: 690-850
- Fees: $0
- Cashback: 1%-5%
- Welcome bonus: $200
- Credit Score: 690-850
- Fees: $0
- Cashback: up to 3%
- Welcome bonus: $200
- Credit Score: 690-850
- Fees: $0
- Cashback: up to 4%
- Welcome bonus: $0
- Credit Score: 690-850
- Fees: $0
- Cashback: up to 5%
- Welcome bonus: $0
- Credit Score: 690-850
- Fees: $0
- Cashback: up to 3%
- Welcome bonus: $0
- Credit Score: 690-850
Pros and cons
Once we have seen all the features and reviewed the best credit cards, we have made a table with all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| No fees | No welcome bonus |
| No credit score | No cash back |
| Report to all 3 credit bureaus |
Requirements
The requirements to obtain the Chime Credit Builder Secured are the following:
- Must be over 18 years old
- Live in the United States
- Have a Social Security
- Chime Checking Account and qualifying direct deposits of $200 or more
- Have an American phone
Conclusion and opinions
After the review we have done, our opinion is that the Chime Credit Builder Secured is not a competitive credit card because it does not offer cash back, nor any bonus, we must have a Chime checking account and make a valid direct deposit of at least $200. On the other hand, it is a free credit card with which we can begin to rebuild our credit score.
Frequent questions
If you still have any doubts, we will answer all the questions you may have:
More information about Chime
Here is a table with more information about Chime:
| Information | Description |
|---|---|
| Website | https://www.chime.com/ |
| https://www.facebook.com/chime | |
| https://twitter.com/chime | |
| Phone | 1-844-244-6363 |
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Updated the day 1 September, 2023 by Alfredo Barandiarán
Alfredo Barandiarán is not only passionate about finance and the economy, but also has more than 10 years of experience helping people find the best possible financial product. He has worked for 5 years at Iahorro and 2 years at Atrapacrédito. He has currently been running the financial comparator Responsible Economy for 3 years. I graduated in business from Complutense University of Madrid and has studied at ESIC and CEF. You can see all the professional experience of Alfredo Barandiarán on his LinkedIn profile
