{"id":20555,"date":"2021-08-18T11:37:14","date_gmt":"2021-08-18T18:37:14","guid":{"rendered":"https:\/\/financer.com\/?post_type=company_single&p=20555"},"modified":"2024-07-04T10:00:22","modified_gmt":"2024-07-04T17:00:22","slug":"chime","status":"publish","type":"company_single","link":"https:\/\/financer.com\/company\/chime\/","title":{"rendered":"Chime"},"content":{"rendered":"\n

Chime Financial, Inc offers everyday banking services with a range of benefits. The fintech company provides a secured credit card and a bank account with no monthly fees<\/strong>. Complete with overdrafts up to $200<\/strong>.<\/p>\n\n\n\n

Chime works with a network of more than 60,000 ATMs across the US.<\/p>\n\n\n

Get Chime now<\/a><\/div>\n\n\n

How We Rate Chime<\/h2>\n\n\n\n

At Financer.com, all apps go through a thorough research and review process. Here’s how we rate Chime:<\/p>\n\n\n\n

Category<\/th>Rating<\/th><\/tr><\/thead>
Fees<\/td>\u2b50\u2b50\u2b50\u2b50\u2b50<\/td><\/tr>
Application process<\/td>\u2b50\u2b50\u2b50\u2b50<\/td><\/tr>
Security<\/td>\u2b50\u2b50\u2b50\u2b50<\/td><\/tr>
Transparency<\/td>\u2b50\u2b50\u2b50\u2b50<\/td><\/tr>
Customer support<\/td>\u2b50\u2b50\u2b50\u2b50<\/td><\/tr>
Overall<\/td>\u2b50\u2b50\u2b50\u2b50<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n
<\/div>

Do We Recommend Chime?<\/h3>Yes, we recommend Chime as a reliable financial app. Skip to our full review below and see how we rate Chime<\/a>.<\/div>\n\n\n

Here’s what we’ll cover in this review:<\/h3>\n\n\n\n\n\n

Want to skip the details? Jump to our final verdict here<\/a>.<\/p>\n\n\n\n

Chime Overview<\/h2>\n\n\n\n

Chime is a financial app offering a range of banking products Stride Bank and Bancorp Bank with more than 14 million customers.<\/p>\n\n\n\n

Here’s a quick summary of Chime:<\/strong><\/p>\n\n\n\n

Overview<\/th>Features<\/th><\/tr><\/thead>
Accounts:<\/strong><\/td>Checking, credit builder, savings<\/td><\/tr>
Overdraft:<\/strong><\/td>Up to $200<\/td><\/tr>
APR<\/strong>:<\/td>7.90% – 29.99%<\/td><\/tr>
Min. credit score:<\/strong><\/td>580<\/td><\/tr>
Monthly fees:<\/strong><\/td>None<\/td><\/tr>
Requirements for a credit builder card:<\/strong><\/td>– Chime Checking Account
– Direct deposits of $200 and more<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Chime allows you to receive your direct deposits up to two days early, build credit, send payments, and earn interest on savings. <\/p>\n\n\n\n

Some of the best benefits of Chime is that it doesn’t charge monthly fees <\/strong>and offers free overdrafts of up to $200<\/strong>. <\/p>\n\n\n\n

Chime Accounts<\/h2>\n\n\n\n

Chime offers three types of accounts: a checking account, a savings account, and a credit builder. <\/p>\n\n\n\n

These options all have benefits to offer and you can choose what account you need based on your financial goals. <\/p>\n\n\n

Get Chime now<\/a><\/div>\n\n\n

Checking Account <\/h3>\n\n\n\n

Chime’s checking account has no monthly fees<\/strong> and offers 24\/7 mobile banking<\/strong>. It’s also easy to access cash anytime with 60,000+ ATMs worldwide.<\/p>\n\n\n\n

With no overdraft fees you can get up to $200 fee-free<\/strong> with SpotMe, should you qualify. The negative balance is then added and applied to your next deposit.<\/p>\n\n\n\n

Friends can also boost each other and this can increase your SpotMe limit. There are no fees to use SpotMe.<\/p>\n\n\n\n

Another great feature of the Chime checking account is that you can get paid up to two days early<\/strong>. We’ll notify you as soon as the paycheck is available.<\/p>\n\n\n\n

With access to your paycheck earlier, you can use it to pay bills or add it to your savings earlier. You’ll get an instant notification when you’re paycheck is ready.<\/p>\n\n\n\n

Credit Builder<\/h3>\n\n\n\n

With the credit builder account you pay no annual fee<\/strong> and there is no credit check <\/strong>needed. You also don’t need a security deposit<\/strong> to open an account.<\/p>\n\n\n\n

This makes the Chime Credit Builder account a great way to build your credit. You get a secured Visa credit card to help you build your credit profile with everyday purchases.<\/p>\n\n\n\n

Chime also reports your payment history to all three major credit bureaus<\/strong> and members see an average of a 30-point increase<\/strong> in their credit*.<\/p>\n\n\n\n

How To Apply<\/h4>\n\n\n\n

Simply open a Chime Checking Account<\/a> and make a direct deposit of $200 or more and you’ll be ready to apply.<\/p>\n\n\n\n

Savings<\/h3>\n\n\n\n

With the Chime Savings Account, you can earn 2.00% APY<\/strong> on your funds and boost your earnings further with the Automatic Savings feature.<\/p>\n\n\n\n

Chime’s high-yield savings account<\/a> offers you up to nine times the national average<\/strong> and has no monthly fees.<\/p>\n\n\n

Open a savings account<\/a><\/div>\n\n\n

Another benefit of Chime’s savings account is that you can use Round Ups to automatically round up and save<\/strong> the change of your purchases.<\/p>\n\n\n\n

You can also use the Save When I Get Paid feature to automatically help you save by saving a percentage<\/strong> each time your paycheck gets deposited.<\/p>\n\n\n\n

Chime Pros and Cons<\/h2>\n\n\n

Pros<\/h3>\n

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