Chime Card (formerly Credit Builder)

The Chime Card, formerly Chime Credit Builder, is a credit-building card with no annual fee, no interest charged and no credit check to apply. Instead of a fixed credit line, you move money from your Chime Checking Account to the card, and whatever you move over is how much you can spend with it. The credit building mechanics are the point. Chime says it reports to TransUnion, Experian, and Equifax, and that utilization is not reported for the card. Spending is limited to the money you have moved to the card. The catches are structural too. You must open a Chime Checking Account to apply, so this is really a feature of banking with Chime rather than a standalone card. Cash back is gated: with qualifying direct deposits, Chime Prime members earn 5% and Chime Plus members earn 2% cash back on a monthly selected category, on up to $1,500 of eligible purchases. Chime's page lists the Prime requirement as $3,000 or more in qualifying direct deposits in the past 34 days and the Plus requirement as a single direct deposit of $200 or more or $400 or more cumulatively. Chime's page states no welcome bonus and does not describe an upgrade path to an unsecured card. One more nuance: Chime says utilization is not reported for this card. That may be a feature for someone recovering from high utilization elsewhere, and a limitation for someone who wants utilization history on their file. This card fits people who already bank with Chime or are happy to, want to build credit with no interest or annual fee, and cannot pass or do not want a credit check. Skip it if you want rewards without direct deposit conditions, a defined upgrade path to an unsecured card, or a credit line you do not have to prefund.