The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Image courtesy of Chime.

News: Chime Rolled Out Cash Back Credit Card With No Annual Fee - Credit-Land.com

Chime®, a U.S.-based consumer financial technology company, has launched its first credit card with rewards. The new Chime Card™ provides 1.5% cash back on purchases in various spending categories such as groceries, restaurants, and gas, which will be changed every few months.

"With the new Chime Card, we're building on top of the everyday banking features our members already rely on, to make the Chime experience even more rewarding," said Ryan King, Chime's co-founder. "We've kept the benefits people value most and removed the mandatory fees and barriers they don't. That's how banking should work when it's built for everyone."

The all-new Chime Card™ is a secured credit card that has no annual fee, no APR, and no minimum security deposit required. There's no credit check either, and the card activity will be reported to all three major credit bureaus. What is more, it will earn uncapped 1.5% cash back in select spending categories that change each quarter. Earned cash back is paid out weekly, and cardholders will be able to view current reward categories and rewards balance within the Chime mobile app. Unfortunately, purchases outside the rotating cash back categories won't earn rewards.

However, to be able to earn cash back with the new Chime Card™, you should be a Chime+ member. Chime+ is a free membership level for those who set up a qualifying direct deposit. Additionally, this membership gives access to this suite of Chime+ perks:

  • 3.75% APY on savings
  • SpotMe®: fee-free overdraft protection
  • MyPay®: Get early access to paychecks
  • Priority customer support
  • Chime Deals®, which can be stacked with the cash back earned from the Chime Card.

The new Chime Card™ is available in several designs: free styles in colors like Classic Black or Evergreen, or members can upgrade to a Titanium finish for $50 plus tax.

If you are an existing member of the Chime Secured Credit Builder card (the original of the new card), you may opt to keep your card or upgrade to the new Chime Card™ directly in the Chime app.

Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

tags : Cash Back Secured Cards Build Credit

Disclaimer: This editorial content is not provided or commissioned by the banks or credit card issuer(s). Opinions expressed here are the author's alone, not those of the banks or credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the banks or credit card issuer(s). Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult with the issuing bank of the card or account for terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are accurate as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.