Chime Credit Builder Secured Visa® Credit Card
Contractors – credit card with no credit check to apply
- No annual fee or interest¹
- No credit check to apply
- No minimum security deposit required²
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For Chime Checking Account holders5
Start building credit for a better future.
We report to all 3 credit bureaus to help you build credit over time. Members see an increase of 30 points on average5.
Member testimonials.
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Join millions already using Chime’s Credit Builder
Give your credit some love. Start by opening a Chime Checking Account, and you’re ready to apply.5
Move Money. The money you move from your Checking Account into the Credit Builder secured account is the amount you can spend on your card.
Spend Money. Use Credit Builder anywhere Visa credit cards are accepted. Whether it’s gas or groceries, use Credit Builder on everyday purchases to help build credit when you make on-time payments.
Help build credit. The money you moved to Credit Builder can automatically pay your monthly balance on time with the Safer Credit Building feature turned on—which we report to major credit bureaus.
Still have questions about Chime’s credit card?
FAQs
Is it better to use a credit or debit card if you are a contractor?
For contractors, it can better to use credit cards instead of debit cards. This is due, in large part, to their financial flexibility, as well as exclusive benefits and the possibility of accessing future financing opportunities. Contractors can also access purchase protection, extended warranties, and grace periods before their payments are due.
Are there credit cards for contractors?
Yes! There are credit cards designed for contractors that provide financial flexibility, rewards, and tools to help manage and grow their businesses.
Is it good to have a credit card for contractors?
Yes! A credit card can be highly beneficial for contractors due to their higher credit limits, rewards programs, tools for tracking and managing their business expenses, and bookkeeping to ensure accuracy in their financial records. The possibility of building credit, access purchase protection, extended warranties, and different types of assistance are also advantages for contractors who utilize credit cards.
How do I qualify for a credit card for contractors?
To qualify for a credit card for contractors, you'll need to provide proof of income, which could include tax returns, bank statements, or profit and loss statements from your business. Lenders will also check your credit score, so having a good-to-excellent credit score can improve your chances of approval. Additionally, be prepared to supply information about your business, such as its name, address, and the nature of your work. Applying with a well-established credit history and demonstrating consistent income can significantly enhance your likelihood of qualifying.
What are the benefits of a credit card for contractors?
A credit card personalized for contractors can offer benefits that can streamline financial management. One of the primary advantages is the ability to separate personal and business expenses, which simplifies accounting and tax preparation. Many contractor-specific credit cards come with rewards programs that offer cashback or points on business-related purchases, such as building materials, equipment, and fuel. These rewards can translate into substantial savings over time. Apart from this, having a credit card can provide a crucial cash flow buffer, allowing contractors to cover expenses while awaiting payment from clients.