Digital banking is becoming a trending activity in the banking sector.
In fact, about 27 percent of Americans use an online-only bank — according to digital banking trends.
Perhaps, banking with online-only or neobanks such as Chime comes with much convenience. I can say that for myself and for many as well.
In a nutshell, Chime is an online-only bank that offers a couple of convenient banking products including a checking account, a debit card, and of course, a credit builder credit card — which appears to be popular in the market.
Why? Well, probably because it offers an easy way to build your credit history. Of course, using the card for transactions and making on-time payments is the best way to build your credit with it. But can you use your Chime credit card with no money? Great question.
In this article, we'll see if you can use your Chime credit card with no money.
Table of Contents
What is the Chime Credit Builder Credit Card?
The Chime Credit Builder Visa credit card is a secured credit card issued by Stride Bank designed for anyone who wants to build or rebuild their credit. The card is typically accepted anywhere Visa is accepted.
The card is ideal for people with no credit history or bad credit. Why? Because there's no credit check required, no interest, and no annual fee included with using the card.
What's even best? There's no minimum secure deposit required. This means you have full control over your credit limit and can adjust it to your liking.
Can I Use My Chime Credit Card With No Money?
No, you cannot use your Chime credit card with no money.
As earlier mentioned, the Chime credit card is a secured credit card. This means you need to make a secured deposit on the card before you can use it for transactions. You won't be able to make any purchases through the card if you don't have money in your secured account.
In fact, you must add funds to your secured account within 60 days of your approval notification or Chime will cancel your card, — according to the card's application disclosure. So the odds are all on your side.
Moreover, the card is purposely designed to help build or rebuild credit. So how can you build credit without a secure deposit in the card? That's not possible, of course.
Do I Have To Put Money On My Chime Credit Card To Use It?
Yes, you must put money on your Chime credit card before using it. The money here is the secured deposit which defines your credit limit with the card.
Can You Use A Credit Card With No Money In Your Account?
Well, that should depend on the type of credit card you are using. Most credit cards have a line of credit that you can use for making purchases and transactions and then pay back later. It is more of use now and pay back to your card issuer later.
That said, if your credit card comes with a line of credit, you don't need to put money in your account to use the card. And again, you'll have a credit limit to respect.
On the other hand, if your credit card does not come with a line of credit just like the Chime credit card, then you'll need to put money in your secured account before being able to use it.
Can I Withdraw Money From My Chime Credit Card?
Yes, you can withdraw money from your Chime credit card at ATMs. You just need to make sure you've set an ATM PIN in your Chime app.
Can I Withdraw Money From My Chime Credit Card Online?
No, you can only withdraw money from your Chime credit card at ATMs. You can't withdraw money from the card online.
How Much Can You Withdraw From Chime Credit Card?
You can withdraw up to $515 daily from ATMs and over-the-counter. However, you can make card purchases and point-of-sale cash withdrawals of up to $2,500 per day.
Can You Overdraft On Your Chime Credit Builder Card?
Yes, the Chime credit builder card comes with no-fee overdrafts for up to $200. This means you can overdraft with your Chime credit card at no cost for an amount up to $200.
How Do I Get A Cash Advance On My Chime Credit Builder Card?
Unfortunately, you cannot get a cash advance on your Chime credit builder card.
How Do I Borrow $100 From Chime?
You can borrow $100 from Chime through Chime SpotMe. However, the amount you can borrow from Chime depends on your account activity.
Frequently Asked Questions
How does a Chime credit card work?
The Chime credit card is a credit-building card that lets you decide how much you want to deposit as a secure deposit on your card account, which defines your credit limit. You can then make purchases on credit up to your account balance. Each month, you receive a statement that you must pay in full.
How do I use my Chime credit builder card with no money?
You cannot use your Chime credit card without money. However, you can overdraft on the card for up to $200.
What is Chime's credit card limit?
While you can decide on your Chime credit card limit, the maximum amount you can deposit on your secured account should not be more than $10,000.
Final Thoughts
The Chime credit builder credit card is a convenient card for those looking to build or rebuild credit. There's no credit check required, and no interest or annual fee is included with using the card.
Again, there's no minimum secure deposit required before using the card which means you have full control over your credit limit.
Since the Chime credit card is designed to build and rebuild credit, you can't use it without making a deposit to your secured account.