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400 Credit Score: Is It Good or Bad?

400 Poor
Updated April 11, 2024
Written by Rachel Alulis

A 400 credit score is not good but at least it’s not the lowest score you can have. This score falls significantly below the national average FICO score of 716 and will make it hard to secure a loan or card. While your borrowing options will be severely limited, they do still exist.

There are cards and loans for a 400 credit score. Most of your options will have a lot of fees and may require a deposit. In this case, the best thing you can do is improve your score. A higher score will increase your options tremendously and let you save hundreds to thousands of dollars.

Let’s go over how you can improve your score to get the best offers and what financing you can get with a 400 credit score.

How to get beyond a Very Poor credit score

Escaping the clutches of a very poor score can seem impossible and it’s true with a 400 score you have a long way to go, but with strategic steps and consistent effort, you can reach a good score.

The first step is to get a copy of your credit report. You can request one from each of the three credit bureaus – Equifax, Experian, and TransUnion – every 12 months from AnnualCreditReport.com. Take a look and identify any inaccuracies that could be unfairly dragging down your score. Disputing these errors with the credit bureaus can lead to quick improvements.

Then look and see what mistakes you’re making that are hurting your score. Many consumers with low scores in the 400 range have missed payments or made payments more than 30 days late – late payments are a huge factor. The average utilization rate for consumers with bad scores – anything below 580 – is 73%. This is extremely high and shows that you are too dependent on borrowed money. Lenders want you to use your cards and loans but not be reliant on it.

Once you know what mistakes you’ve made, you know what you have to do to correct them.

Is your score too low?

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How to improve your 400 Credit Score

While knowing your personal mistakes is very important, it is also good to know how scores are calculated. Most lenders will pull your FICO score to determine whether or not to approve you.

FICO scores are calculated weighing the following factors:

  1. Payment history – 35%
  2. Amount used – 30%
  3. Length of credit history – 15%
  4. New inquiries – 10%
  5. Credit mix – 10%

We’ll go over how you can apply these factors in more detail to boost your FICO score. Apply a mixture of them as some work faster than others. As you consistently develop responsible habits you’ll see your FICO score rise.

Read more about your credit score!

Percentage of generation with 300–639 credit scores

GenerationPercentage
Generation Z (18-23)37.7%
Millennial (24-39)41.2%
Generation X (40-55)40.3%
Baby Boomers (56-74)25.1%
Silent Generation (75+)17.8%
Data from Credit Karma

Add positive information to your credit report

The best thing you can do for your score is to make timely payments on all your accounts. Consistent, on-time payments can significantly impact your score positively over time. Set up reminders or autopay so that you never miss a payment.

If you’re worried about being late, reach out to your creditor before you miss a payment. They may be able to set up a hardship program or work out a different solution.

Another way to add positive information to your report is to use a secured credit card responsibly. These cards report to the national credit bureaus just like standard cards, helping build a history of creditworthiness but they are much easier to be approved for. Secured cards require a security deposit – 100% refundable – that serves as collateral and sets your limit.

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Additionally, becoming an authorized user on a family member’s account can also contribute positive information to your credit history, provided the primary account holder has a good score and maintains responsible financial habits.

Learn the best practices for boosting your score on Credit Score Builder!

Don’t let your credit card balances balloon

The amount of credit you use is the second biggest factor in calculating your score. Don’t max out your cards. Keep your balances below 30% of your credit limit. This will give you a good credit utilization ratio and show to lenders that you’re not dependent on borrowing money.

It can be hard to reduce the amount you use, but doing so will significantly help your score. If you can, make multiple payments throughout the month to keep your utilization down.

Another way you can boost your rating is to reduce outstanding debts, particularly those with high interest rates. Create a sustainable budget that prioritizes debt repayment. Even small, regular payments toward your debt can have a significant positive impact on your score over time. This will help your utilization rate, improve your payment history, and lessen your debt-to-income ratio (DTI). Your DTI is an important factor that lenders look at when considering applicants for loans.

Wondering why it’s so important to pay on time?

Your credit score will thank you!

Think carefully before closing old credit card accounts

While it might be tempting to close old credit card accounts, especially if you’re afraid of debt, think twice. Older accounts contribute to your credit history length, which is a factor in your score calculation. They will also give you a higher cumulative limit making it easier to keep your utilization rate low. Closing these accounts can shorten your credit history and potentially lower your score.

Instead, keep these credit accounts open but with minimal use. Put a small subscription on it and set up autopay so you never miss a payment. This maintains the account’s positive contribution to your score without risking high balances.

Closing an old account can also decrease your credit mix. Lenders want to see that you can handle different types of borrowing responsibly – as in installment (loans) and revolving (cards). If you only have one card and you close the account you will lessen your mix.

If the card has no annual fee, the benefits of keeping it open usually outweigh the downsides. If there are a lot of fees, it may be better to close the account.

Get a secured credit card or credit builder loan

Additionally, consider tools designed to help raise your rating. Secured credit cards, for example, require a security deposit that serves as your limit. These cards are often more accessible to those with lower scores since they usually have few requirements. When used responsibly, it can demonstrate your reliability to lenders.

Or you could take out a credit builder loan. These loans are unique because they are also a savings tool. Unlike regular loans, you don’t get the money right away. Instead, it is held in a secured account and you make low monthly payments towards the loan. The financial institution reports your on time payments to the three major credit bureaus, improving your score. Once the loan is paid off, you get the money, maybe with interest – depending on the loan you took out.

One really easy way to raise your rating is to report all on time payments you make to the national credit bureaus – Equifax, Experian, TransUnion. Normally only installment loan and card payments are reported, but more and more companies are making it possible to report all your monthly payments. The more on time payments you have the more your score will go up.

While you’re working on improving your score, avoid taking on new debt or applying for unnecessary cards or loans. Each application can temporarily lower your score for a few months to a year. Patience is essential. Raising your rating doesn’t happen overnight. By adopting these habits, you’re not just working toward a higher score, but also towards healthier financial practices that can benefit you throughout your life.

Check out MoneyFor to learn more.

Personal loans with a 400 credit score

Securing personal loans with a 400 score is challenging, but not impossible. Most traditional big banks have minimum credit score requirements of 600 or more. This will make it tough when exploring loans for a 400 credit score. You may find your options limited and the terms less favorable. High-interest rates and stringent repayment terms are common, as lenders view these loans as high risk. However, some financial institutions and online lenders specialize in loans for low scores and make it possible to borrow money no matter your rating.

Online lenders often have more flexible criteria than traditional banks and might consider other factors beyond your score, such as employment status and income. These direct lenders who offer personal loans to individuals with a 400 credit score often specialize in high-risk financing. Most of the loans they offer though will be short-term loans that come out of your next paycheck. The issue here is these loans can more with extremely high fees and APRs of up to 700%.

A better option is Payday alternative loans (PALs). These are offered by some credit unions as a response to payday loans. PALs often come with higher loan amounts – up to $2,000 – and caps on interest rates. You will likely make fixed monthly payments rather than having to repay a lump sum.

Credit unions are member-run financial institutions and so tend to be more friendly and have flexible requirements. Many will consider applicants with poor credit scores. The catch is that you have to be a member to get a loan. Check with your local credit union and find out the member requirements. They may be your answer to loans and banking.

Cash advance apps are a new solution. These apps will advance you a small amount of cash instantly. Usually from $50 to $500. Most apps do not require a credit check, have few to no fees, and no interest charges. Most do ask for an optional tip. Be careful how much you tip for the service so that you don’t end up paying a 400% APR – this is different than tipping your wait staff.

It’s crucial to approach all these loans with caution. Make sure you can afford a loan before you agree to it. The terms, including interest rates and fees, should be reviewed thoroughly to ensure they don’t exacerbate your financial situation.

Additionally, consider lenders who report to the three national credit bureaus (most payday lenders and cash advance apps don’t). Timely repayment of a personal loan can show responsible behavior and boost your score. Always research and compare offers from multiple lenders to find the most favorable terms for your financial situation.

What’s the easiest loan to get with bad credit?

The easiest loans to get with a 400 score are payday loans, cash advances, and secured loans. All of these loans put less emphasis on your score and more on your next paycheck or the asset you use to secure the loan.

Payday loans are typically small, short-term loans intended to cover urgent expenses until the next paycheck. While they can provide immediate relief, it’s crucial to be aware of their high interest rates and fees. While best to be avoided, a payday loan can be a viable option for emergency loan 400 credit score scenarios. The issue here is that payday loans have very short repayment terms and very high fees. Frequently, people cannot repay on time and have to roll the loan over incurring even more fees. This can easily lead to a cycle of debt.

Cash advances are a better option in this case since they have much lower fees and less penalties. But again, they do have short repayment periods. Before you take out a cash advance, check to see if you can reschedule the payment for free. Many apps let you reschedule at least once.

Secured personal loans require a form of collateral like a savings account or vehicle. These loans often have lower interest rates compared to unsecured loans for individuals with low ratings, making them a more manageable option for those seeking 400 credit score loans.

Credit cards are not usually considered loans but they are revolving lines of credit. This means you get to spend the money then pay off your balance and spend it again without reapplying. Using a card responsibly is also one of the easiest ways to boost your score. There are credit cards for a 400 credit score with no deposit. They will come with higher fees but let you borrow money and an opportunity to improve your score.

Want an unsecured card?

Find the best credit cards for a 500 credit score!

Are there any guaranteed loans for bad credit?

There is no such a thing as guaranteed but there are loans that come awfully close. A lot of payday loans for a credit score of 400 are practically guaranteed and do not have a credit check. Payday lenders are more concerned about your next paycheck than your FICO score.

While the promise of guaranteed approval quick cash loan is enticing for those in dire need of funds, it’s essential to tread with caution. The terms associated with these loans can be particularly onerous. High-interest rates and fees, short repayment periods, and the potential for a debt cycle should make you think twice.

Another option is an online lending network. These platforms can be very helpful if you’ve had a recent bankruptcy discharge or simply have a low score. You submit one application and the platform matches you with direct lenders in their network who work with borrowers in your score range. The direct lenders you’re matched with then send you multiple offers in minutes, all without damaging your rating.

You can look over your offers and find the best one for you. Compare the interest rates, fees, loan amount, and repayment term. This way you can find a loan that you can afford. Once you’ve found the best loan, formally apply with the direct lender. You’ve already been preapproved, so while approval is not guaranteed, you have a very good chance of getting the loan.

Paying back a loan as agreed can improve your score and lead to better loans in the future. Just make sure you can afford the full cost of the loan.

Frustrated with constant credit card rejections?

Learn the required score to get a credit card.

Bottom line

A 400 credit score is bad but it’s not a permanent state to be in. It will take a lot of work and consistent responsible financial behavior, but you can change it to a good score. Raise your rating and you’ll have a ton more options for loans and cards that don’t require a lot of fees or a cash deposit.

If you can’t wait to improve your score, don’t worry, you can still obtain loans. The offers you can get will come with higher interest rates and additional fees to protect the lender. Weigh the cost of the loan and see if it’s worth it for you.

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.           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 Cross River Bank, Member FDIC. The Current Visa® Debit Card issued by Choice Financial Group, and the Current Visa® secured charge card issued by Cross River Bank, are both pursuant to licenses from Visa U.S.A. Inc. and may be used everywhere Visa debit or credit cards are accepted. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.           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.
2. 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.
3. 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.
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. 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
6. 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.
7. 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 Qualifying Deposits into your Current Account over the preceding 30-day period. For more information, please refer to Fee-free Overdraft Terms and Conditions.
8. You may earn Points in connection with your everyday spending 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. The Current Points program is not available to Teen Account holders. See Current Points Terms and Conditions.
9. 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.
10. 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. 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%. A qualifying direct deposit of $200 or more is required for 4.00%. No minimum balance required. For more information, please refer to Current Boost Terms and Conditions.
11. Cryptocurrency services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC, and may not be available in all states. Terms and conditions apply. When you buy or sell cryptocurrency, a difference between the current market price and the price you buy or sell that asset for is called a spread. However, unlike most other exchanges Current does not charge an additional trading fee. Cryptocurrency transactions are a form of investment, and all investments are subject to investment risks, including possible loss of the principal amount invested. Cryptocurrency is not insured by the FDIC or any other government-backed or third-party insurance. Your purchase of cryptocurrency is not a deposit or other obligation of, or guaranteed by, Choice Financial Group or Cross River Bank. The cryptocurrency assets in your Zero Hash account are not held at Current, Choice Financial Group, or Cross River Bank. Current, Choice Financial Group, and Cross River Bank are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither Current, Choice, nor Cross River Bank is involved in the purchase, sale, exchange of fiat funds for cryptocurrency, or custody of the cryptocurrencies. Terms and Conditions apply (platform and user agreements). Crypto on Current is not currently available in HI. Licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. This does not constitute investment advice.
12. 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.
13. 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.
14. 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.
15. 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.
16. 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.
17. 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.
18. 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.
19. 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.
20. 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.
21. 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.
22. 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.
23. 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.
24. 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.
25. 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.
26. 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.
27. 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.
28. 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.
29. 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.
30. 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.
31. 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.
32. Tipping or not tipping has no impact on your eligibility for SpotMe®.
33. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
34. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
35. 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.
36. 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.
37. 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.
38. 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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