Welcome to Money Resources

Chime is a company that I have found to be very customer-centered and user friendly. Products they offer include: spend account, savings account and credit builder.

 

Here are some of the top benefits for the checking account:

• Get paid up to 2 days early

• Grow your savings, automatically

• No hidden fees

• 60,000+ fee free ATMs

 

The above are all great but my favorite feature is the credit builder. Now, I'm usually not a fan of suggesting credit cards because most people don't know how to use them effectively without getting themselves in trouble but this secured card is AMAZING! If you're not familiar with what a secured credit card is, here's a basic definition. It's a credit card that requires a cash deposit up front, which is held to ensure that what is charged to the card will be paid back. Obviously, this doesn't sound like something that millionaires would use but it is great if you are new to credit building or are rebuilding - which is where I was years ago and this card helped me increase my credit score more than 150 points over time.

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Benefits of the Chime Credit Builder Visa Secured Credit Card:

• No annual fee or interest

• No credit check to apply

• No minimum security deposit required

• Only the on-time payments are reported to the credit bureaus (which will always be on-time because you can only charge what has been secured in the account)

 

Are you ready to join Chime? Here are your BEST next steps:

• Open a Chime Spend Account

  • Download the Chime app

  • Have your employer direct deposit $200 into the account (you determine how much but the minimum is $200 to qualify for the Credit Builder account, so get $200 direct deposited in here ASAP. There's no minimum amount of time you have to have this account so the sooner you have at least $200 direct deposited into this account, the sooner you'll be on your way to building better credit) ​

  • Within 7 days of at least $200 being direct deposited into the Spend Account, you'll receive a notification via either the app or email of your eligibility for the Credit Builder Account

• Open a Chime Savings Account

  • Head to your Settings, Navigate to the Automatic Savings section and Turn on Round Ups. This will ensure that with every Spend Account purchase, the change will rounded up to the nearest dollar and be deposited automatically into your Savings Account. Example, you purchase snacks that total $5.50 with your Chime Spend Card, within a day or two, 50 cents will be moved from your Spend Account automatically to your Savings Account to round the purchase amount to $6.00... just that simple!​

  • Feel free to also turn on the option to save an additional 10% with every direct deposit if you choose to

• Now that you've had at least $200 direct deposited into your Chime Spend Account, Open a Chime Credit Builder Account

  • Activate your new secured card​

  • Setup your pin

  • Head to your Settings, Navigate to the Credit Builder Card section, Select Safer Credit Building to turn on the feature to automatically pay your credit card balance and even specify how many days after your statement is available before Chime automatically pays the bill, 1-10 days.

  • Optional, check out Move My Pay, under the Credit Builder Card section if you want to automatically move a percentage of each direct deposit into your secured account for credit use.

 

If all of the above weren't enough, you can now earn a $100 bonus (limited time) just for opening up a new Chime Spend Account and receiving a direct deposit of at least $200 in your first 30 days - the sooner you have $200 direct deposited, the sooner you'll receive the bonus. Click HERE ​to get started.