I Put The secured Chime Visa® Credit Card to the Test: It Takes the Frustration Out of Credit-Building

Frustration. That’s what many people tell me they feel when they are trying to build their credit from scratch or repair it after some missteps. 

Some can qualify for unsecured accounts, but too often they are heavy on fees and restrictions, with a limit too paltry to pay for even a month’s worth of groceries.

Secured cards can be an alternative, but they require a cash deposit. If they don’t have any to spare, they’re out of luck. It just doesn’t feel fair.

Which is why The secured Chime Visa® Credit Card can be such a refreshing alternative. Fees? It’s pretty much free of them. Security deposit? Nope. Easy to get? Yes. Build credit with it? Absolutely! 

These are just a few of the reasons The secured Chime Visa® Credit Card is an antidote to frustration. Here’s how this unique, powerful credit card works, and why it might work for you, no matter your credit situation. 

Although The secured Chime Visa® Credit Card is technically a secured credit card, it works in a completely different way than most others. Traditional secured cards require a deposit that the issuer keeps as collateral. 

In general, the credit line you get is the same as the security deposit, so if you put down $1,000, that’s your limit. If you use the account responsibly for a period of time, some issuers will increase the limit beyond the deposit or will release the funds, so basically, it becomes an unsecured account. 

The secured Chime Visa® Credit Card

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• No minimum balance requirements*
• No credit check**
• 2% cash back on category of choice with direct deposit***
• The perks of credit building meet the best of banking****
• Chime Checking Account required to apply for the Chime Visa® Credit Card

• Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The secured Chime Visa® Credit Card is issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. *Money added to Chime CardTM will be held in a secured deposit account as collateral for your Chime Card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month. **Out-of-network ATM withdrawal and over the counter advance fees may apply. ***With a qualifying direct deposit, earn 2% cash back on category of choice on eligible secured Chime Visa® Credit Card purchases. ****On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Results may vary.

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Our Rating

The secured Chime Visa® Credit Card

4.8/5.0

About this rating

BadCredit.org’s credit card ratings are calculated by our financial experts based on key criteria including APRs, fees, and approval odds. We also consider factors such as customer service and cardholder benefits. Our ratings are unbiased and regularly updated.

Ashley Fricker Senior Editor

Close

★★★★★

4.8

Application Length	Interest Rate	Reports Monthly	Reputation Score
5 minutes	N/A	Yes	9.5

In all cases, the deposit is fully refundable if you close the account with no balance owed. 

The secured Chime Visa® Credit Card is quite different. The amount of money you have in your connected Chime® Checking Account determines the credit line.

That means you’re not locking away any money, and your spending limit fluctuates with your checking account balance. One month it could be $500, another $100, and still another $5,000. Whatever it is, that’s your charging limit. 

How it Works With the Chime® Checking Account

To get The secured Chime Visa® Credit Card, you will first need to open a Chime® Checking Account that comes with a debit card. 

When you fund your Chime®, that money automatically backs the credit limit on The secured Chime Visa® Credit Card. Chime displays this as a single, unified “Available Balance” in the app

For example, if you deposit $500 into your Chime® Checking Account that already has a balance of $2,000, you can spend up to $2,500 with The secured Chime Visa® Credit Card. 

But if you use your Chime® Checking Account debit card to pay for something that costs $500, your charging limit lowers by that amount. 

Interest, Fees, and Transparency

First, there are no annual fees. That’s a big advantage because many credit cards designed for people with no or bad credit, whether secured or unsecured, have this added cost. 

Nor are there maintenance fees, which some credit cards impose to keep the account active. 

Because you’ll be paying off the bill in full and on time every month, no interest is added to your purchases, and it is late-fee free.

And you’re safe when traveling internationally, because The secured Chime Visa® Credit Card does not impose a foreign transaction fee. 

You can easily manage your account online or through the mobile app, and you will clearly see how much money you have to spend as well as any potential fees, such as if you were to use out-of-network ATMs. 

This eliminates a common transparency complaint about cards developed for subprime customers.

For a credit card that comes with so few fees, you’d think you wouldn’t get much as far as rewards. Not so. 

But first, status. There are two: Plus and Prime. 

You will reach Chime Plus with a qualifying direct deposit of $200 or a cumulative total of $400+ within a rolling 34-day window. 

To achieve Chime Prime, you’ll need at least $3,000 in total qualifying direct deposits in the last 34 days. 

As a cardholder with either of these two statuses, you can earn cash back rewards on rotating categories each month. With Chime Plus, you get 2% in cash back rewards. With Chime Prime, you can earn 5% in cash back rewards.

For the cash back, you can choose from six categories with a monthly spending limit of up to $1,500. Currently, they are grocery stores, gas, monthly bills (such as utilities, cable, and streaming), restaurants, rideshares/taxis, and travel.

If you have neither status, you will not earn cash back. It will just be a basic card for making purchases. 

The secured Chime Visa® Credit Card is easy to get, use, and even offers access to cash back rewards. But many people who are considering it are worried about one thing above anything else: improving their credit.

Luckily, The secured Chime Visa® Credit Card has that covered with features that can automate your credit score success and flexible funding options that can put you back in control of your credit future.

Safer Credit Building Puts Progress on Autopilot

This is a terrific card to use for building credit because it makes the process so incredibly easy. By switching the Safer Credit Building feature on through the app, money in your SDA will automatically pay off your monthly balance. 

Not only does it guarantee on-time payments, but you won’t carry over any debt. 

Chime reports to the three major credit reporting bureaus, so when that activity appears on your credit reports, it will be factored into your credit scores. 

Payment history is the most important credit scoring factor, so this puts you on the road to success immediately and provides you with a bit of a safety net from the start. 

You won’t be able to spend more than you have available in your SDA, either, so if you’re looking for an account with guardrails, this is it.

Tri-Bureau Credit Reporting

The three major consumer credit reporting bureaus in the United States are Equifax, Experian, and TransUnion. Chime reports to all, so your activity with The secured Chime Visa® Credit Card will be added to the trade lines section of each company’s report. 

This will show your payment history, highest balance, payment amount, and the payment date. 

Note: Be aware that there will be no credit utilization percentage noted on your report, because there is no preset charging limit associated with this card. That means you won’t be penalized for carrying a balance that is at, or too close to,  the credit limit. 

Since credit reporting companies use this information to determine your credit score, a lengthy history of paying on time with The secured Chime Visa® Credit Card without risk of a high credit utilization ratio will work in your scoring favor. 

ATM Network Availability and Cash Deposits

The secured Chime Visa® Credit Card was built for direct deposits, but you can still use an ATM if you need to. You won’t find a Chime-branded ATM, though. 

Instead, you can visit any of the fee-free ATMs in its network. There are currently over 47,000 in-network machines around the country. 

You can easily find one by going to your Chime app and locating the one you want on the ATM map. You can also use an out-of-network ATM, but a fee may apply.

Be aware that you can’t deposit cash directly into an ATM, but can at Chime’s retail partners, which you can also find on the Chime app. 

To load the funds into your checking account, you will present the money and either your Chime debit card or the in-app barcode to the cashier. If you make the deposit at Walgreens or Duane Reade, it will be fee-free. 

Other retailers, such as Walmart, CVS, and 7-Eleven, may charge a fee for the service. 

SpotMe and Virtual Card Access

Back to those benefits! When you have Plus or Prime status, you can enroll in SpotMe. This feature gives you fee-free overdraft coverage for both your checking account and The secured Chime Visa® Credit Card of up to $200. 

If your balance drops below zero, your transaction will go through, and SpotMe will automatically cover the difference. 

When you set up your Chime® Checking Account with a deposit, you will have instant access to Chime’s virtual card. It is a digital version of the physical card that the company will send to you. 

The virtual card features a unique card number, expiration date, and CVV (that security number on the back of the card). You’ll see it on the app and can add it to your mobile wallet.

I mention the app a lot because Chime is so digital forward that everything integrates with it. In fact, Chime is not a bank but a fintech company that partners with the Bancorp Bank and Stride Bank to provide its checking accounts and credit cards. 

Thus, the Chime app is what you will likely use most for account management. It allows you to do just about anything you need to handle The secured Chime Visa® Credit Card and a connected checking account.  

Through the app, you will get instant transaction alerts and daily notifications, and can instantly freeze and thaw your cards to prevent fraud. 

The secured Chime Visa® Credit Card is also backed by Visa’s Zero Liability Policy, so if someone does use your account without your permission, you won’t be responsible for those charges. 

Another security measure it includes is two-factor authentication. This layered approach adds important protection. Just open the Chime app, go to the security center, and turn the two-factor authentication on. 

Once you do, you can only make purchases after inputting a unique and temporary six-digit verification code that is sent to your mobile phone number. 

You may also set up fingerprint or facial recognition login, which links to your phone’s biometric sensor, to open the app. That means if someone gets a hold of your device and tries to access your account, they’ll be out of luck.  

Let’s return to the beginning of this review. Remember how frustrating it can be to not qualify for a credit card when you really want to start or restart your credit history, or just need a card to use? The secured Chime Visa® Credit Card is unlikely to give you any trouble. 

To be eligible for The secured Chime Visa® Credit Card, you’ll first have to open the Chime® Checking Account. During the application process, you will be given the option to open The secured Chime Visa® Credit Card at the same time. 

The other conditions are that you have received a qualifying direct deposit of $200 or more in the last 36 days. You also need to be at least 18 years old and have a valid U.S. residential address. A Social Security number is also required. 

Here’s a handy list of everything you need to qualify:

• A Chime® Checking Account: You must open this first (or apply for both at the same time).
• A Qualifying Direct Deposit: You need to have received a direct deposit of $200 or more within the last 36 days.
• Age Requirement: You must be at least 18 years old.
• Valid Address: You need a valid U.S. residential address.
• Valid Social Security Number: You cannot use an Individual Taxpayer Identification Number (ITIN) or a foreign identity number.

Unlike other credit cards, you can’t use an Individual Taxpayer Identification Number or a foreign identity number.

Chime will not check your credit, so not only is there no need to have a specific score, but there will be no impact on your credit reports. 

The secured Chime Visa® Credit Card is really designed for direct deposits, so when you are approved and set that up, you’re good to go. 

It’s important to know that you don’t just apply for The secured Chime Visa® Credit Card. It’s embedded in the Chime® Checking Account application. 

You can also apply for a Chime® Checking Account and debit card only. But I’ll show you what you need to do to get The secured Chime Visa® Credit Card during the application.

Here are the steps I went through:

Step 1: Name and Email Address

The first screen I come to says, “Let’s get started.” I enter my first name, last name, and email, then click the “Next” button at the bottom. 

Step 2: Date of Birth

Now I need to type in my date of birth. A message at the top informs me that I have to be at least 18 years old to join Chime. 

I fill it in and click the “Next” button to continue. 

Step 3: Phone Number

On this screen, I need to provide my phone number, which will be used to both protect my account and as a way for the company to keep in touch with me via texts. 

Under the field to enter my phone number, I see that clicking the “Next” button also means I agree to receive marketing texts and to the Telephone Use Agreement and Privacy Notice. 

If I click on either of those, it takes me to an explanation about what the agreement and notice entail. 

I fill in my phone number and click the “Next” button. 

Step 4: Verify Phone Number

A screen pops up telling me to verify my number with a security code that was sent to my phone. I receive it and type in that number. 

When I do, it immediately brings up an invitation to get The secured Chime Visa® Credit Card. It informs me (just like I’ve already informed you) that it has no monthly fees or minimums, I can build credit safely and earn cash back, and there is no credit check or interest.

There is an image of The secured Chime Visa® Credit Card, and below it is a link I can click to view the disclosures.

I click the “Continue” button.

Step 5: Residential Address

I see a screen with fields to fill in about my home address. I complete it and click the “Next” button. 

Step 6: Create a Password

Now I see a screen to create a password, which needs to be at least eight characters with upper case and lowercase letters, as well as numbers. 

I see that I have the option to use one my system creates for me, so I accept it and click the “Next” button. 

Step 7: Employment and Income Details

I am now presented with a screen that has five fields with drop-down menus. 

They include:

• My income source (employment, unemployment, social security, household income, inheritance, investment, or other)
• What I do for work (a long list of various jobs)
• My annual income (a list of ranges)
• How I get paid (direct deposit, payment app, check, cash, or another way)
• How I heard about Chime (such as podcasts, social media, and AI search). 

I complete this screen, and a box appears asking if I have a promo code. I don’t, so I click the “Next” button.

Step 8: Social Security Number

I am now taken to a screen where I enter my Social Security number to verify my identity. I am also being assured that it will not affect my credit score. 

If I click agree, I am consenting for the Social Security administration to disclose my Social Security number, verification to Stride Bank, and Socure, Inc. 

I enter my SSN and click the “Agree” button.

Step 9: Read and Agree to Terms of Service

Here I see a screen called “Terms of Service” that is broken down into two sections. The first is for The secured Chime Visa® Credit Card, which has two options for me to select from. 

The first is that I have read and agree to all The secured Chime Visa® Credit Card agreements, including Safer Credit Building, which I see is optional. I read that each month, on the day that I receive my statement, Chime will use the money I have added to The secured Chime Visa® Credit Card to automatically cover my charges.

The second section is about the Chime® Checking Account, and it also has two boxes to check. One is that I have read and agree to the agreements, and the other is that I have read and agree to Chime’s deposit account agreement and the Stride Consumer Privacy Notice. 

I agree to everything, then click the “Submit” button. 

Step 10: Set Up the Chime App

A screen now appears telling me that my Chime® account is waiting for me in the app. I’m instructed to scan the QR code to finish the process. 

I use my phone to scan the code, and I’m prompted to install the Chime app by entering the password. I do. Now, I finish everything through the app. 

Step 11: Final Offers and Submission

The first screen in the app shows a limited-time offer where I can earn up to $350 by opening a checking account and receiving qualifying direct deposits.

If I follow through with the final prompts for the Chime® Checking Account application, which is the next screen that pops up, I can finish opening it. And I’m done! 

As the old saying goes, there’s a lid for every pot. This credit card may be the lid you’re looking for if you’re trying to start your credit history. 

With a blank credit report, conventional credit card issuers may find you to be too much of a risk because you’re an unknown entity. Since The secured Chime Visa® Credit Card has a secured element, you’re not a risky borrower. 

Or maybe you have damaged credit. If so, that puts you in the subprime category. Many of the unsecured credit products you’d qualify for could be expensive and have very limited credit lines. 

And if your credit rating is especially low, even those cards can be difficult to obtain. Yet because eligibility for The secured Chime Visa® Credit Card is not dependent on credit history or scores, you skate right past that problem. 

Perhaps the only card you can get is secured, but you can’t afford the deposit. The secured Chime Visa® Credit Card solves that issue, too. That’s because your credit limit is based on the money in your Chime® Checking Account that has been moved to the Secured Deposit Account. 

Another reason The secured Chime Visa® Credit Card could be a great lid? Maybe you just want a credit card that helps you steer clear of debt. 

Since your charges are guaranteed by the cash you have in your account and you’ll be paying the bill in full, you won’t revolve balances or be charged interest. It’s just a simple, safe way to charge and build credit. 

But remember, you do need to have consistent direct deposit income in order to maximize The secured Chime Visa® Credit Card’s rewards and features, and you should be comfortable doing your banking with a mobile app. 

Although no single credit card is right for everyone, I am very impressed by The secured Chime Visa® Credit Card’s many advantages. 

There are a few trade-offs that you need to know before you apply, though. Here are what I believe are this card’s primary pros and cons. 

Overall, I believe the advantages outweigh the drawbacks. The secured Chime Visa® Credit Card won’t be the ideal account for everyone, but if you are focused on establishing or rebuilding your credit without unnecessary fees or complicated rules, it may be a smart fit for your situation.

The secured Chime Visa® Credit Card isn’t the only option for building credit. There are many on the market, some of which are collateralized with a security deposit, while others are unsecured. Here is one of each to consider.

Merrick Bank Secured Credit Card

APPLY HERE »

• Choose your own credit line based on how much money you want to put down as a security deposit.
• Initial deposits can be from $200 to $3,000. You can increase your credit line at any time by adding additional money to your security deposit, up to $3,000.
• After 9 months, we review your account for a credit line increase. No additional deposit required!
• Secured Credit Cards are great for people looking to build or rebuild credit and are available to people with all kinds of credit backgrounds.
• Unlike a debit card or a pre-paid card, it helps build your credit history. We report your payment history to all three major credit-reporting agencies.
• Get your FICO® Credit Score for free each month.
• Fraud coverage if your card is lost or stolen. Access your account 24 hours a day, 7 days a week. Get help staying on track with available Auto Pay and account alerts.
• Card issued by Merrick Bank, Member FDIC.

Show MoreShow Less See application, terms, and details. »

Our Rating

Merrick Bank Secured Credit Card

4.0/5.0

About this rating

BadCredit.org’s credit card ratings are calculated by our financial experts based on key criteria including APRs, fees, and approval odds. We also consider factors such as customer service and cardholder benefits. Our ratings are unbiased and regularly updated.

Ashley Fricker Senior Editor

Close

★★★★★

4.0

Application Length	Interest Rate	Reports Monthly	Reputation Score
10 minutes	21.95% Variable	Yes	7.5/10

This card requires a minimum security deposit of $200, so if you have that amount to spare, it can be a compelling choice. Whatever you put down, though, will be your credit limit. 

Merrick Bank will review your account after nine months, and if you have used this card responsibly in that time, it may increase your credit line without an additional deposit. There is no annual fee, and you will earn no ongoing cash back rewards, but it helps build your credit history by reporting to all three major bureaus. 

However, unlike The secured Chime Visa® Credit Card, the Merrick Bank Secured Credit Card doesn’t offer fee-free overdraft protection, and if you start out with a low security deposit, your purchasing power will be weak.

Petal 2 Visa Credit Card

This unsecured credit card may also be worth a look. To qualify without a good credit score, you will need to prove that you have enough steady income to cover the potential monthly payments for the credit line you get.

You will also have to link an active U.S. bank account to the card, but there are no annual or foreign transaction fees involved. If you get the Petal 2 Visa, you will earn 1% cash back on all eligible purchases, but after six on-time payments, that cash back rate will increase to 1.25%. 

Still, The secured Chime Visa® Credit Card may be the preferred option when you want to avoid high-interest debt. This card has a whopping APR of between 28.24% and 30.24%, so if you carry over balances, it will cost you a lot. And since Chime doesn’t require a steady paycheck to open, it’s more accessible to people with various sources of income.

I would absolutely recommend The secured Chime Visa® Credit Card to anyone who is exasperated with the application and eligibility process involved with so many other credit products. Qualification is relatively easy, and you can build credit without having to worry about interest and fees. 

Instead of having to set your money aside by putting down a security deposit, your credit limit totally depends on how much you have in your connected checking account. That gives you valuable flexibility. 

With a steady stream of on-time payments, you’ll be adding attractive information to all three of your credit files, which is healthy for your credit scores.

You can’t spend more than you have, and since your payments are automatically deducted from your checking account, the credit-building process is frictionless.  

The secured Chime Visa® Credit Card is really designed for people who want to launch or improve their credit rating. You might be a young adult with no credit history, or you might be repairing your credit score after a difficult financial time in your life.

You could be tired of seeing credit cards with compelling marketing, only to find out they come with high annual, foreign transaction, and maintenance fees, as well as sky-high interest rates, or being turned down altogether. If so, The secured Chime Visa® Credit Card can offer relief. 

If you’re in the market for a flexible credit card that is easy to get, can help you develop and maintain good credit while steering clear of costly debt, I say put The secured Chime Visa® Credit Card at the top of your list.