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357 Credit Score: Is It Good or Bad?

357 Poor
Updated April 6, 2024
Written by Rachel Alulis

Navigating the financial landscape with a credit score of 357 can be challenging. This score is well below the national average of 715 and is classified as poor. A poor credit score typically indicates previous credit management issues or an insufficient credit history. Either way, it will be difficult to gain the trust of lenders, making it seem almost impossible to obtain loans or be approved for credit cards.

However, it's not all bleak—there are lenders who cater specifically to those with less-than-ideal credit. In this article, we'll explore the implications of having a 357 credit score, identify potential financial products that may still be accessible, and outline actionable steps you can take to improve your score. With persistence and responsible financial habits, you can gradually rebuild your credit and open up more opportunities for better financial products and terms in the future.

 

What kind of credit score is 357?

A credit score of 357 is classified within the poor range, which spans from 300 to 579. TransUnion reports that about 16% of the U.S. population falls into this category, often reflective of previous financial struggles such as missed or defaulted payments, substantial debt, collections activity, bankruptcy, or a lack of credit history altogether.

Your credit score is a key indicator for lenders to determine your borrowing risk. With a poor score, you're viewed as a high-risk borrower, making it significantly more difficult to secure credit approval. If you are approved, it's typical to face higher interest rates and additional fees than those with healthier credit scores.

For individuals with a 357 credit score, the most effective strategy is to focus on improving your score. This involves making timely payments, reducing outstanding debt, and avoiding new credit applications. By consistently demonstrating responsible financial behavior, you can gradually increase your score. Once your credit improves, you can qualify for more favorable loan or credit card terms, which will further support your financial recovery and stability. Patience and disciplined financial habits are essential in transitioning from a poor credit score to a stronger financial position.

 

Can I get a credit card with a 357 credit score?

Securing a credit card when your score hovers around 357 presents hurdles, yet it's entirely achievable. Financial institutions and card issuers are cautious when extending credit to those with lower scores. However, there are pathways open for you.

Subprime credit cards, targeting individuals with minimal or no credit history, are one option. These cards are easier to obtain; some even consider applicants with scores as low as 300. The catch is they often have higher fees and interest rates to safeguard the issuer against defaults.

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Credit Score Range 300-579
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A lower-cost option is a secured credit card. These cards require a refundable security deposit. The deposit directly corresponds to your credit limit, thereby lowering the risk for the issuer. Secured cards often feature lower fees and interest rates than their unsecured counterparts for individuals with poor credit scores. To make the most of a secured card, use it for small, manageable purchases and ensure that you pay off the balance in full each month. This behavior will help establish a positive payment history, a crucial factor in improving your credit score.

A third strategy to circumvent the fees of obtaining a personal credit card is to be added as an authorized user on someone else's card. Being an authorized user allows you to benefit from the card owner’s responsible credit habits without having to put in an application. Be sure to ask someone with good credit habits to add you as an authorized user. Their positive credit actions will reflect on your credit report, potentially boosting your score over time.

While accessing a credit card with a 357 credit score presents obstacles, it is not impossible. By exploring subprime and secured credit cards or becoming an authorized user, you can find viable pathways to rebuilding your credit. Consistently practicing responsible financial habits, such as making timely payments and maintaining low balances, will gradually improve your score, opening doors to better credit opportunities in the future. Patience and disciplined financial management are key to achieving and sustaining a healthier credit profile.

 

Can I get a personal loan with a 357 credit score?

Obtaining a personal loan with a credit score of 357 can be a challenge, as the majority of lenders prefer borrowers with higher credit scores. However, finding a loan is not entirely out of the question. If you have an asset to offer as collateral—such as property, a vehicle, or a savings account—you can obtain a secured loan. Secured loans are easier to be approved for because they pose less risk to the lender. If you fail to repay the loan, the lender can seize your asset to recover the owed amount. Consequently, you are more likely to be approved and receive more favorable terms. Before taking out a secured loan, ensure you can repay it as agreed.

Most people don't have an asset to use for a secured loan. In this situation, consider exploring online lenders and lending marketplaces. Many of these institutions specialize in offering loans to individuals with bad credit. These lenders understand the difficulties faced by those with low scores. They are willing to work with them, often placing more emphasis on your income or employment stability rather than solely on your credit score. Expect to face higher interest rates and possible extra charges, which are measures lenders take to offset the heightened risk of lending to someone with a lower score.

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If you want to avoid the high costs associated with an unsecured loan for bad credit, consider adding a co-signer or co-borrower with good credit to your application. Having an additional applicant with strong credit will improve your chances of qualifying for the loan and securing more favorable terms. The lender perceives less risk since they can collect payment from the co-applicant if you default. A co-borrower will have equal access to the loan funds, whereas a co-signer will not.

Another option is to explore cash advance apps. These fintech applications provide you with a small amount of money almost instantly, which you repay with your next paycheck. Typically, they are connected to your bank account and may require you to link your direct deposit. There is no credit check involved, and they do not charge interest. Some of these apps have a subscription fee, while others may request an optional tip for their service.

Credit unions are another excellent option for obtaining a loan with a poor credit score. These member-owned institutions are typically less stringent than traditional banks. Many credit unions have more lenient requirements and may be willing to lend to members with low scores. Generally, you need to be a member for at least one month before you can apply for a loan.

Before deciding to proceed with a high-cost loan, you should stop and ask yourself if you really need the funds right now. If you can wait a few months and work on your credit, you may be able to secure a lower-cost loan and save a lot of money. Improving your credit score can make a significant difference in the terms of your loan.

It's crucial to explore all available options before taking on additional debt. Consider alternatives such as borrowing from friends or family, selling unused items, or tapping into emergency savings if possible.

Take your 357 credit score with a grain of salt

The concept of "bad credit" is not universally defined. Different lenders accept different minimum credit scores, and some do not prioritize scores at all. Instead, they emphasize other aspects of your financial life, such as employment history and housing stability.

Nevertheless, it's important to note that a score of 357 is considered low by most standards. However, it's not an end-all-be-all situation. Credit scores are dynamic and can change based on how you manage your finances. With dedicated effort, you can improve your score over time.

To elevate your credit score, start by making all payments on time. Payment history is a significant factor in your credit score, so ensuring timely payments can make a big difference. Additionally, work on reducing outstanding debts, which can improve your credit utilization ratio—another key component of your credit score. Avoid applying for new credit too frequently, as each application results in a hard inquiry that can temporarily lower your score.

With patience and disciplined financial habits, you can gradually move your score into the "good" category. Improving your credit score opens up more financial opportunities and better terms, ultimately contributing to greater financial stability and health.

 

How can I improve my 357 credit score?


Raising a credit score from 357 is achievable with consistent effort and patience. Your credit score is influenced by several key factors: payment history, credit utilization, length of credit history, variety of credit types, and recent credit inquiries. Understanding these components is crucial for effective credit improvement.

Your credit score is influenced by several key factors:

  • Payment history - 35%
  • Credit utilization - 30%
  • Length of credit history - 15%
  • Variety of credit types - 10%
  • Recent credit inquiries - 10%

While building credit takes time and won't happen overnight, consistent effort can lead to improvements sooner than expected.

You can also use credit-building tools to give your score an extra boost. Credit builder loans offered by credit unions and some fintech apps are an easy way to establish a positive payment history. Alternatively, you can use credit for bills you already pay. Certain companies report rent, utilities, subscription payments, and more to the credit bureaus. This service helps you grow your score without taking on additional products or responsibilities.

Remember, enhancing your credit is a gradual process. While it won't become good instantaneously, diligent efforts can lead to noticeable improvements sooner than you might anticipate. Regularly monitoring your progress and staying committed to responsible financial habits will help you steadily raise your credit score, opening up more favorable financial opportunities in the future.

Review your credit report

Begin by reviewing your credit report. You can obtain a free copy annually from the three national credit bureaus—Equifax, Experian, and TransUnion—via annualcreditreport.com. Look for any inaccurate negative marks and promptly dispute them with the bureau involved. Correcting false negative marks can instantly enhance your score.

Mistakes can result from reporting errors by financial institutions or might indicate identity theft. If you suspect identity theft, freeze your credit report to prevent anyone from opening new accounts in your name.

Take it a step further and assess your report to determine the root causes of your low score. Is it due to frequent late payments, an account in collections, high usage of your credit limit, or recent multiple credit inquiries? These elements are key contributors to a reduced credit score. Knowing what you have done wrong in the past will help you know what to change in the future.

 

Do some damage control

Addressing past financial mistakes can be an effective way to boost your credit score. Contact your creditors or collection agencies to see how you might settle any unresolved accounts. There's a possibility that creditors will consent to purge negative details from your credit report upon receiving full payment or establishing a payment schedule. Taking the initiative to resolve these issues can have a beneficial effect on your score over the long haul.

If your creditor or the collection agency is adamant about not removing negative annotations, don't be discouraged. Such information does not stay on your report forever. Most negative entries will remain on your report for seven years, but their adverse impact lessens as time moves on. Meanwhile, you can focus on other aspects of your credit behavior. Pay all your bills on time and keep your credit utilization rate below 30%.

Prioritize on-time bill payments, as payment history is a significant factor in your credit score. Set up reminders or automatic payments to ensure you never miss a due date.

To maintain low credit utilization, pay your bills in part throughout the month. Issuers report your usage at the end of the month, so paying bills before they're due will help reduce your balance and keep your utilization rate low.

Avoid applying for new credit frequently, as multiple inquiries can temporarily lower your score. Instead, concentrate on managing your existing credit responsibly. By maintaining these good financial practices, you can gradually improve your credit score, even if negative marks remain on your report. Remember, rebuilding your credit is a gradual process, but with consistent effort and discipline, you can achieve a healthier credit profile and access better financial opportunities in the future.

Get a secured credit card

When your credit score is 357, a secured credit card can be a very helpful tool for rebuilding your credit. To obtain a secured credit card, you need to put down a refundable security deposit, which acts as collateral for the issuer and determines your credit limit. This deposit is fully refundable upon closing your account in good standing, meaning all your bills are paid. This feature can be more appealing than the nonrefundable fees charged by many subprime credit cards. 

Secured credit cards are easier to qualify for due to the minimal risk for the issuer. The security deposit reduces the lender's risk, making it accessible even to those with poor credit. To maximize the benefits of a secured card, use it for modest expenditures and make sure to settle the balance in full every month. This responsible usage demonstrates good credit habits, which will be reflected in your credit report and help improve your score.

By consistently making on-time payments and keeping your credit utilization low, you'll start to see positive changes in your credit score. Over time, as your credit improves, you may become eligible for unsecured credit cards and loans with better terms. A secured credit card is a valuable stepping stone on your path to rebuilding your credit and achieving a healthier financial future.

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Next steps for your 357 credit score

A 357 credit score means you have a long way to go. It can make it difficult to secure a loan or obtain a credit card without a deposit but don’t lose hope. You can increase your score with patience and dedication. As you work on your credit, you’ll become eligible for more favorable financial products.

Begin by thoroughly examining your credit report to pinpoint the reasons behind your low score. Look for errors or discrepancies and dispute them with the credit bureaus. Understanding the specific factors dragging your score down will help you create a targeted plan for improvement. Next, implement key financial practices: ensure timely payments on all your bills, keep your credit utilization low by paying down debt, and avoid applying for new credit frequently. These actions can significantly impact your credit score over time.

Celebrate small milestones to keep yourself motivated. Each on-time payment and reduction in debt is a step in the right direction. Remember, the road to a strong credit score is lengthy, yet it is achievable with persistence and good habits. Stay focused on your financial goals, and gradually, you'll see your credit score rise, opening up better financial opportunities and a more secure financial future.

1. Paycheck Advance is For eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank. Expedited disbursement of your Paycheck Advance is an optional feature that is subject to an Instant Access Fee and may not be available to all users. Expedited disbursements may take up to an hour. For more information, please refer to Paycheck Advance Terms and Conditions.
2. Paycheck Advance is an earned wage access service and is not a loan or credit product.
3. Current is a financial technology company, not an FDIC-insured bank. FDIC insurance up to $250,000 only covers the failure of an FDIC-insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Banking services provided by Choice Financial Group, Member FDIC, and/or Cross River Bank, Member FDIC. The Current Visa® Debit Card, which may be issued by Choice Financial Group and/or Cross River Bank, and the Current Visa® secured charge card, which is issued by Cross River Bank, are all issued pursuant to licenses from Visa U.S.A. Inc. and may be used everywhere Visa debit or credit cards are accepted. A Current debit account is required to apply for the Current Visa® secured charge card. Independent approval required.
4. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.
5. Debit card: Fees may apply, including out of network cash withdrawal fees, third-party fees, cash load fees, inactivity fees, account closure fees, international transaction fees, replacement card fees, express mail fees and escheatment fees.                                                                                                                                                       Build Card: Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.
6. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.
7. Individual results may vary. Using your credit card responsibly may allow you to improve your credit score. Credit building depends on various factors, including your payment history, credit utilization, length of credit history, and other financial activities.
8. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.
9. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Funds held in Savings Pods are FDIC-insured on a pass-through basis up to $250,000 at our partner bank Choice Financial Group, member FDIC.
10. Paycheck Advance is For eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank.
11. Expedited disbursement of your Paycheck Advance is an optional feature that is subject to an Instant Access Fee and may not be available to all users. Expedited disbursements may take up to an hour. For more information, please refer to Paycheck Advance Terms and Conditions.
12. Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive $500 or more in Eligible Direct Deposits into your Current Account over the preceding 35-day period and fulfill other requirements subject to Current’s discretion. Negative balances must be repaid within 60 days of the first Eligible Transaction that caused the negative balance. For more information, please refer to Fee-free Overdraft Terms and Conditions. Individual Current Accounts only.
13. For eligible customers only. You may earn Points in connection with your Build Card purchases at retailers whose merchant code is classified as: Dining (e.g., restaurants) and Groceries (e.g., supermarkets) and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. Points will expire 365 days after they settle. For more information (including specific eligibility criteria), please refer to the Current Points Terms and Condition.
14. Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.
15. Boost Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a Boost Bonus of at least $0.01. No minimum balance required. The Boost rate on Savings Pods is variable and may change at any time. The disclosed rate is effective as of August 1, 2023. Must have $0.01 in Savings Pods to earn a Boost rate of either 0.25% or 4.00% annually on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00%. To earn a Boost rate of 4.00%, the sum of your Eligible Payroll Deposits over a rolling 35-day period must be $500 or more, with at least one Eligible Payroll Deposit equalling a minimum of $200. For more information, please refer to Current Boost Terms and Conditions.
16. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Your money is FDIC-insured on a pass-through basis up to $250,000 at each of our partner banks, Choice Financial Group and Cross River Bank, members FDIC.
17. Average value based on Fine Hotels + Resorts bookings in 2023 for stays of two nights. Benefits include daily breakfast for two, room upgrade upon arrival when available, $100 amenity, guaranteed 4PM late checkout, and noon check-in when available. Certain room categories not eligible for upgrade. $100 amenity varies by property. Actual value will vary based on property, room rate, upgrade availability, and use of benefits.
18. Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
19. The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
20. Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one- way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
21. Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
22. Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions, and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
23. When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
24. Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited to up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
25. 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.
26. The secured Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
27. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
28. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
29. There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
30. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
31. Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
32. Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2020 and October 2020 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.
33. On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
34. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
35. SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
36. Tipping or not tipping has no impact on your eligibility for SpotMe®.
37. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
38. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
39. Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.
40. Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.
41. Funds are automatically debited from your Checking Account and typically deposited into the recipient’s Checking Account within seconds. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed.
42. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.
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About the author

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.

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