Chime Financial, Inc.

Chime is a financial technology company, not a bank, that offers mobile banking accounts and a secured credit builder card. Its banking services are provided through The Bancorp Bank and Stride Bank, both FDIC-insured. Chime positions itself as a no-fee alternative to traditional banking, with no monthly maintenance fees, no minimum balance requirements, and no overdraft fees on qualifying accounts.

The Chime Credit Builder card is a secured Visa credit card designed to help consumers build or improve their credit without requiring a traditional security deposit upfront. Instead of depositing money with the card issuer, you move money from your Chime spending account into a Credit Builder secured account, and that amount becomes your spending limit on the card. There is no hard credit check to apply, and no interest is charged because you can only spend what you have already set aside.

Chime reports your Credit Builder card activity to all three major credit bureaus. Regular use and on-time payment of the balance can help build your credit profile over time. The card is intended for people who want to establish credit or rebuild after financial difficulties.

Chime also offers a feature called SpotMe, which allows eligible members to overdraw their spending account by a small amount without a fee, and MyPay, which provides early access to a portion of an upcoming paycheck before it clears.

Because Chime is a fintech rather than a bank, the terms of its products and available features can differ from traditional bank accounts. Read all current terms carefully, particularly around how the Credit Builder spending limit works and any fees associated with optional services before signing up.