The Chime Credit Builder Card is an innovative product from Chime that functions more like a prepaid card than a credit card. This Card requires users to deposit money into a Secured Account, which becomes their credit limit. And there is a slight difference between Chime Builder cards and traditional credit cards. Unlike traditional credit cards, Chime offers no interest rates to its customers. Besides allowing users to send money quickly and easily, these cards also offer a reasonable interest rate. Furthermore, most banks accept Chime credit builder card, making them an ideal solution for those seeking a quick and easy way to move their money.
There are times, however, when you will need to transfer money from your credit-builder account to your Chime spending account or withdraw funds from it as needed. In case you are in a state of confusion and don’t know how to proceed, don’t worry about it. My goal is to show you how to move money from your Chime credit builder card.
How Does The Chime Credit Builder Card Work?
Credit Builder cards are Visa credit cards that give you the option of transferring funds from one account to another. This is referred to as a Credit Builder Secured Account. Chime Credit Builder Card works more like a debit card than a credit card. With the funds from your Spending Account, you can “reload” your Chime Credit Builder Card at any time.
In addition, since the Chime Credit Builder Card is a Visa credit card, it is accepted everywhere Visa is accepted.
You can also spend regular money from your Chime Spending Account using the Chime Credit Builder Card Visa®. Using the Secured Account, Chime Safer Credit Builder automatically pays off the credit card balance each month. When the credit card balance is paid off automatically, Chime reports the payment to every major credit bureau – Experian, Equifax, and TransUnion. The building or rebuilding your credit is made easier with this method.
Unlike a traditional credit card with rewards and perks, Chime Credit Builder Card doesn’t offer rewards and perks for those with good or excellent credit. You won’t get a sign-up bonus, you won’t get a rewards program, and there won’t be any additional benefits, like collision damage waivers for auto rentals. The card’s main purpose is to help you improve or build your credit score.
Easy Steps To Move Money From A Chime Credit Builder Card
Using the Chime app, you can move money from the Chime credit builder card to your Chime spending account whenever you want. For the Chime credit builder card, you need a Chime Spending Account with about 200$ deposited within the past 365 days. The Chime credit builder card makes it easy to transfer money. With Chime, you can only spend or transfer the money that’s available on your card, as stated in the Available to Spend section. The following steps will show you how to move money from a Chime Builder card to a spending account.
- Step 1: From your phone, open the Chime App and log in with your username and password.
- Step 2: Tap on the Move Money section that you will see on the home screen of the application interface. You can move money to your spending account with the move money feature.
- Step 3: Now tap on the Transfer Funds option. You can transfer money from your chime credit builder account to your spending account by tapping on the Transfer Funds option.
- Step 4: Next select the Chime Credit Builder Secured Account option from the From option. It’ll let you choose between a Spending Account or Credit Builder.
- Step 5: Select your Spending Account in the To field.
- Step 6: Now, enter the amount that you want to send to a spending account
- Step 7: Check the details before you authenticate the transfer.
Before you confirm the transfer, make sure you’ve reviewed and cross-checked everything.
Steps To Transfer Money From My Chime Credit Builder To A Bank Account
It is important to note that Chime is an online financial services company. Since you will not be using your money online constantly, you will need to move money to a bank account. If you wish, you may transfer funds to your bank account and possibly to your savings account or do any other appropriate transaction. But how do you transfer money from Chime to your bank account?
You can transfer funds from your Chime account to a bank account of your choice pretty easily. Before you transfer, you should link your bank account to Chime.
- Open your Chime app on your phone and log in
- Then navigate to the Settings option
- Choose the “Link a Bank Account” option from the interface.
- Here you will see a list of banks you can link. So, select the bank you wish to link and move the money to.
- Then enter the bank login credentials.
Follow these steps to move money after you link your bank account.
- You will need to open the Chime app and log in on your phone.
- Now, tap on the Move Money option.
- Tap on the Transfers option.
- Select the bank account you want to transfer money. Enter your external bank’s login details if prompted.
- Follow the prompts and enter the amount of money you want to move.
Also Read: Transfer Money From Chime To Cash App
Ways To Spend Money From A Chime Credit Builder Card
It is possible to move money between your chime credit builder cards in a few different ways.
- Your first option is to use the funds to pay off your debts.
- The second option is to use the money to purchase goods or services.
- Last but not least, if the limit on your Chime Credit Builder card is high, you can use it to pay off your loans as quickly as possible.
A chime credit builder card is a form of payment account issued by the company. The card allows you to make purchases and withdraw money from it.
Withdraw Cash From My Chime Credit Builder Card
If you want to withdraw money from the Chime credit builder, you need a Chime credit builder card. This card works like a debit card and lets you withdraw money from all Chime networks for free. You can withdraw from your Chime credit-builder account once you have the Chime credit-builder card. However, you can’t withdraw more than 500$ a day using the Chime credit builder card. When you have less than 500$ in your Chime credit-builder account, you can only withdraw what’s left. The Chime credit builder card is likely to charge some fees if you’re using it on a non-Chime network. Before you can use your Chime builder card, you’ll have to set a pin. It’s easy to withdraw funds from your Chime credit builder. Chime credit builder withdrawals are pretty similar to withdrawing money from your bank account with a debit card. It’s just a matter of looking for ATMs closer to where you are, which you can do by opening the Chime app, under the homepage, and tapping the ATM Map.
Can I Use My Chime Credit Builder Card At The ATM?
Yes, it’s OK to use your Chime credit builder card at an ATM. As soon as you’ve got your card and pin, you’re good to go. But always remember that you’ll have to pay a fee if you’re using a non-network ATM. Better visit one of the 60,000+ in-network ATMs at stores like Walgreens, 7-Eleven, and others to avoid out-of-network fees. You should use your Chime app’s ATM Map to find one near you!
In addition, you are only permitted to withdraw the amount available on your Chime credit-builder account. You are not permitted to withdraw more than 500 dollars per day using the Chime credit builder card.
Can I Use My Chime Credit Builder Card Without Money?
In order to build credit, Chime doesn’t require you to put down a minimum amount. But, what if you don’t have any money to use my Chime credit builder card? I am sorry to say that, it is impossible to use your card without putting money on it. Keep in mind that the Chime credit builder card is a secured credit card, which means that you must deposit money into it in order to use it. But you can use unsecured credit cards without depositing any funds. Your credit score determines whether you are approved for the unsecured card. As you improve your scores, your card will have a higher limit. Chime credit builder card also has a reward feature. When used appropriately, the cards still contribute to your score. As soon as you have built sufficient credit scores from your Chime credit builder card, you will be eligible for an unsecured credit card that matches your credit score.