Chime is a new bank built for the digital generation that offers free checking with no minimum balance requirements, savings to help grow your money automatically, and cash back rewards on debit card purchases.
The Chime Credit Builder is a secured credit card that helps you build your credit without hurting your credit score. However, it also has guardrails that you’ll need to be okay with.
1.5% cash back on all purchases
The Chime Credit Builder Visa card is a secured credit card that doesn’t charge interest. This means you don’t have to worry about paying interest charges or paying off your credit card balances as long as you keep adding money to your account each month.
Using this card can help you build credit and is also a good way to earn rewards. It’s an excellent choice for people who are new to credit and don’t have any credit history.
It’s easy to sign up for a Chime spending account and it doesn’t take long to set up. You can fund your account by using a direct deposit, a bank transfer, or a U.S.-based external debit card (there could be limitations).
If you’re looking to start building credit, the Chime Credit Builder card is an excellent option. It reports your activity to credit bureaus and doesn’t charge interest, making it a great place to get your feet wet.
2. 10% cash back on gas
If you want to save on gas, the chime cash back rewards credit card might be right for you. This credit card offers 5% cash back on gas up to $6,000 per year (then 1%) and 3 percent cash back on dining ($5,000 maximum).
Chime also allows you to round up every transaction to the nearest dollar and automatically move that amount into your savings account. You can even set up an auto savings plan for 10% of your paycheck.
Unlike most credit cards, chime doesn’t charge for overdrafts, maintenance fees or foreign transactions. They also don’t charge for ATM use.
This credit card offers a lot of flexibility for a rewards strategy, but it’s best for those with good spending habits and are willing to open an unsecured account. It’s not a good choice for people with credit union memberships or those seeking second chance banking accounts.
3. 10% cash back on dining
You can earn 10% cash back on dining by signing up for chime cash back rewards. You’ll receive a VISA debit card for your spending, and each time you swipe your card, Chime will give you a small kickback.
This may seem like an overly generous offer, but it’s actually a great way to save money on your dining expenses. Plus, you’ll have access to over 24,000 locations nationwide through the chime app.
The bonus isn’t available on every purchase, but it can add up quickly, especially if you tend to eat out often. There are also a few other perks to using chime, such as the automatic savings feature.
This is one of the most innovative credit card offers I’ve seen, and it certainly is a step up from many of its competition. However, you’ll need to be willing to open a spending account and you won’t be able to earn the same rewards and upgrade paths that other unsecured cards can offer.
4. 10% cash back on travel
If you’re a traveler, you might be interested in chime cash back rewards. This credit card offers 10% cash back on travel booked through the Chase Travel Center.
If this sounds like something you’d be interested in, you can sign up for a free spending account with Chime. This spending account will help you track your spending and also gives you a VISA debit card to use with their rewards program.
While most cash-back cards offer a range of spending categories that can be activated, the best ones are those that reward you for travel. These can include airline, hotel and car rental companies.
You can even earn more money by using their automatic savings plan or micro-savings function. These automatically round-up your purchases and transfer them into your savings account when they hit the minimum threshold, allowing you to save a little extra every time you buy something.
