Key takeaways
MyPay credit limits can range from $20 to $500, depending on your direct deposit activity and account history.
Your credit limit is recalculated every time you receive a qualifying direct deposit – it can go up, down, or stay the same.
Consistent direct deposits and sharing work information like your email or location can help increase your limit over time.
Credit limits may decrease if your deposit patterns change or you stop sharing additional information.
MyPay is a line of credit that lets you access up to $500 of your pay before payday.1 If you've already enrolled, you've likely noticed that your MyPay credit limit may change from one pay period to the next. Here's how credit limits are determined and what you may be able to do to increase yours.
How are MyPay credit limits decided?
Your MyPay credit limit is the maximum amount you may access in a single pay period. It's determined by a combination of your direct deposit activity, account history, employer information, and other criteria. Credit limits are recalculated every time you receive a qualifying direct deposit, and may increase, decrease, or stay the same.
When you first enroll in MyPay, your initial credit limit typically starts between $40 and $100. Your credit limit may vary based on factors such as your Chime membership tier and how you receive qualifying deposits.
If you receive a direct deposit from a new source – for example, you've switched jobs – this may also cause your credit limit to be recalculated.
How to increase your MyPay credit limit
Your credit limit may increase as soon as your next direct deposit, and may continue to grow overtime with consistent deposits. How much it might go up depends on how regularly you receive direct deposits, how large they are, and how long you've been using MyPay.
Sharing your work email or enabling location sharing can also help increase your credit limit more quickly. Currently, the maximum credit limit is $500.
You'll have a better chance at increasing the amount you can access if you:
Regularly receive qualifying direct deposits – several months in a row is a good target.
Make sure advances you've taken with MyPay are fully repaid so you don't lose access to MyPay.2
Direct deposit your entire pay for the best chance to increase your credit limit. If you can't do the full amount, the more you deposit the better your chances.
Share information like your work location and work email address, or connect to a payroll provider, if you get paid by an employer through payroll or as a gig employee.
Can MyPay credit limits decrease?
In some cases, MyPay credit limits can decrease. If this has happened to you, it could be for a few reasons:
Inconsistent direct deposits or the loss of a direct deposit source.
Stopped sharing additional information like your work email address or work location, or unlinking your payroll provider. This information is used to help verify employment-related information and determine your eligibility and credit limit. It is not used for marketing purposes, and Chime will not contact you at your work email address.
Use of other Chime products like SpotMe® – we try to prevent a situation where a large amount of your next deposit has to go towards repaying outstanding balances.
If your credit limit has decreased, focusing on consistent direct deposits and re-sharing your work information can help it recover over time. Learn more about the difference between MyPay, SpotMe, and Get Paid Early.
What is "available now"?
The amount you see as available now is the maximum you may take as an advance on any given day. After you receive a qualifying direct deposit, your "available now" starts as a small portion of your credit limit and usually increases every day until you reach your credit limit.
Any advances you take get subtracted from your "available now" amount. When your next qualifying direct deposit arrives, your outstanding MyPay balance may be repaid from your Chime Checking Account,2 your "available now" resets, and your credit limit is recalculated.
Here's a simplified example of how this might work. Say on the first day of your pay period you have $40 available now of a $200 credit limit. If you don't take any advances, your available now may gradually increase over the following days until it reaches your $200 credit limit. The exact pace may vary.
If you took a $20 advance on that first day, your available now would drop to $20. Without further advances, it would gradually increase over the following days until it reaches $180 – your $200 credit limit minus the $20 advance. When your next deposit arrives, $20 may be deducted from your Chime Checking Account to repay your MyPay balance. 2
Take control of your payday
With consistent direct deposits and following these tips, you could begin to see your MyPay credit limit grow, giving you more flexibility to access the money you need between paydays.