Benefits of this credit card:
- No interest or annual fees;
- No credit check to apply;
- No minimum security deposit required.
More about the Chime Card
The Chime Card shares the same purpose as traditional secured credit cards: It can help you build a credit history if you have no credit or bad credit.
But the similarities end there because the $0-annual-fee card, issued by Stride Bank, requires no minimum security deposit, and it even lets you adjust your credit limit. There’s no credit check necessary either, and perhaps even more surprisingly, it doesn’t charge interest; you essentially set money aside in advance to pay your credit card bill. In some ways, it resembles a reloadable prepaid debit card, except that it reports your activity to the credit bureaus.
These kinds of unique features can certainly help you along your credit journey, but you’ll have to be willing to open an account with Chime.
Why do we recommend this credit card?
If you’re serious about improving your credit, you don’t want to pay interest charges and you’re confident you can add money every month to your Chime Card account to make sure you have a credit line to use, then this card is in harmony with your goals.