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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.
Build credit history with the Chime® secured credit card.
- No annual fee or interest⁴
- No minimum security deposit required⁷
- Improve your credit score through responsible use
Learn how we collect and use your information by visiting our Privacy Notice
What people are saying about the Chime secured credit card.
Member testimonials.
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Build your credit scores with on-time payments.⁵
Open an account with Chime and apply for your secured credit card. Spend responsibly, pay it off on time each month, and check your latest FICO® Score⁶ in-app.
Understanding secured credit cards.
New to the world of secured credit cards? Strap in for your crash course!
What is a secured credit card?
A secured credit card is a type of credit card that’s backed by a security deposit. They usually have low credit limits and are designed for borrowers who are working on establishing or repairing credit.
How does a secured credit card work?
Not sure how to use a secured credit card? Once approved, you’ll typically make a security deposit that serves as collateral. Use the card for everyday purchases, pay off the card each month on time, and, over time, you could see your credit scores improve.
Chime’s secured credit card has no minimum deposit required, and, unlike with other secured credit cards, your deposit does not serve as collateral. Instead, the secured deposit serves as your spending limit, and you’re free to increase or decrease it as you see fit.
Why would I want to open a secured credit card?
There are a number of unique features that could make secured credit cards appealing. For example, you might want to open a secured credit card because they are a safe way to build credit through on-time payments. Alternatively, you might want to use one to establish responsible spending habits with credit.
Do secured credit cards have rewards?
While it’s less common, there are some secured credit cards with rewards. Typically, these reward rates are lower than what you would get with some of the industry’s top cash-back and travel rewards credit cards.
Chime secured credit card vs. unsecured credit cards.
FAQs
What do I need to apply for a Chime secured credit card?
All you need is a Chime Checking Account.
Don’t have a Chime Checking Account? Apply for one in under two minutes!
Does Chime charge any fees for using the secured credit card?
Chime does not charge any annual fees, foreign transaction fees, card replacement fees, or interest on our secured credit card. There are, however, fees if you use your secured credit card at an out-of-network ATM. Luckily, using an in-network ATM is fee-free⁴, and Chime has more than 50,000 of them nationwide. Just use Chime’s in-app ATM finder to locate an ATM near you.
What happens if I miss a payment?
If you miss a payment on your Chime secured credit card, Chime will disable your card and require you to pay what you owe. If you don’t pay the overdue balance within 54 days, Chime will report the late payment to the credit bureaus, which can negatively impact your credit scores.
That’s why it’s important to always make secured credit card payments on time and in full, which is the best way for you to improve your credit scores with a secured credit card.
Chime makes it easy to stay on top of your payments with Safer Credit Building. This optional feature automatically uses the money you set aside for your security deposit to pay off the credit card each month.
Can I withdraw cash from a Chime secured credit card?
Yes, you can withdraw cash from a Chime secured credit card fee-free at more than 50,000 ATMs throughout the country, at stores such as Walgreens®, 7-Eleven®, and CVS®.
Have more questions about the Chime secured credit card? Read everything you need to know about Credit Builder.
What are secured credit cards?
A secured credit card is a type of credit card designed for borrowers who have fair, bad, or poor credit – or no credit at all. Borrowers must make a small security deposit – usually a few hundred dollars – to back, or “secure,” the card.
Typically, the credit limit on the card is equal to that security deposit. Over time, responsible use of a secured credit card could boost the borrower’s credit score enough that they could qualify for an unsecured credit card, which does not require a security deposit.
Do secured credit cards build credit faster?
Both secured credit cards and unsecured credit cards have the potential to build your credit, as long as you use the credit card responsibly and the credit card issuer reports that responsible usage to the three credit bureaus. How fast your credit improves depends more on how you use the card, rather than what type of credit card you use.
Whether you have a secured or unsecured credit card, focus on keeping your credit usage to a minimum and paying off your balance in full each month.
What is the credit limit of a secured credit card?
The credit limit of a secured credit card depends on the credit card issuer and, often, the size of your security deposit. Some credit card companies have a required security deposit; others, like Chime, do not have a minimum security deposit for secured credit cards.