Chime Credit Builder Secured Visa® Credit Card
Low income households – 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.
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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
Are there credit cards for people with low income?
Yes. There are credit cards designed specifically to assist people with low-income. These cards usually have more relaxed approval criteria and lower income requirements than traditional credit cards.
Is it better to use a credit card or debit card if you have low income?
For people in lower income brackets, it is usually better to use a debit card rather than a traditional credit card, as using a debit card helps avoid the risk of accumulating debt and interest charges. However, secured credit cards can be a helpful way to build credit while helping avoid these same risks. These cards set some of your money aside as collateral to ensure you always have enough to make your payments.
Is it good to have a credit card if you have low income?
Yes! As long as it is used responsibly, having a credit card can be incredibly beneficial for low-income individuals. Credit cards can help build a credit history, which is essential for being approved for everyday needs like being approved for a loan or renting an apartment. It's important for people in lower income brackets to use their credit card wisely by spending only what they can afford and paying off the balance in full each month to avoid high-interest debt accumulation.
How do I qualify for a credit card for people wtih low income?
If you don't make a lot of money and you want a credit card made to help you out, you'll typically need to be at least 18 years old, have a stable source of income, and provide a valid identification. While approval criteria will vary depending on the credit card issuer, secured credit cards are generally more relaxed with their requirements.
What are the benefits of a credit card for people with low income?
Credit cards for people with low income give them the ability to build a credit history, which is essential for being approved for future financial opportunities, like mortgages or leases. Sometimes, they may include an easy way to manage and track your spending. Additionally, some credit cards for low-income individuals have lower fees and less strict approval criteria.