Safer Credit Building
When you transfer money to Credit Builder, Chime keeps the money in your Credit Builder Secured Account to secure the purchases you make on your credit card. The amount you transfer to your Credit Builder Secured Account becomes available to spend on your Credit Builder Card.
Enable Safer Credit Building to automatically pay your monthly credit card statement on time using the money you’ve already transferred to Credit Builder – no new money from your Checking Account is needed!
At the end of the month we’ll report your activity to the credit bureaus and you’ll see an update to your credit report within 60 days.
Enabling Safer Credit Building also means we make your automatic payment as soon as possible, within one day of letting you know the payment amount. Alternatively, you can choose to wait ten days after receiving notice.
In the rare case that your payment due falls outside the range between $0.00 and the total amount you’ve transferred into Credit Builder, we’ll make a partial payment and provide you 21 days’ notice of the remaining amount due.
You can change your automatic payment and notice of payment amount settings separately anytime in Credit Builder settings.