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523 Credit Score: Is It Good or Bad?

523 Poor
Updated April 6, 2024
Written by Rachel Alulis

Navigating the financial landscape with a credit score of 523 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 523 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 523?

Nestled within the 'poor' credit range of 300-579, a credit score of 523 often reflects financial difficulties such as late or missed payments, elevated debt levels, accounts in collections, bankruptcy, or simply a lack of credit history. According to TransUnion, only about 16% of Americans find themselves in this poor credit category. 

Such a score places borrowers in the high-risk category for lenders, who prioritize being repaid. With a history of missed payments and accounts in collections, most lenders are hesitant to approve loans or credit cards. While certain lenders will work with individuals who have poor scores, the terms are usually less favorable, featuring higher fees and interest rates.

The optimal strategy for those with a 523 credit score is to focus on building credit. This involves making timely payments, reducing outstanding debts, and avoiding new credit applications. Once your score improves, you can qualify for lower-cost credit cards or loans, which will further aid in rebuilding your financial stability. Patience and disciplined financial habits are key to transitioning from a poor credit score to a healthier financial standing.

 

Can I get a credit card with a 523 credit score?

Gaining access to a credit card with a credit score of 523 is a challenge, though not out of reach. Banks and credit issuers are typically wary of granting credit to individuals with poor scores. Nevertheless, there are options available.

Among these are subprime credit cards, which are specifically designed for people with low or no credit history. These cards do, however, carry higher fees and APRs as a way for issuers to guard against potential defaults. Subprime credit cards, while accessible, come with various costs, including annual fees, monthly maintenance fees, and higher interest rates. These added expenses can make them less attractive, but they can serve as a useful tool to begin rebuilding your credit. It’s essential to read the terms and conditions carefully to understand all the fees involved and to manage the card responsibly to avoid further financial strain.

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Credit Score Range 300-579
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If the idea of paying extra for a subprime credit card doesn't appeal to you, consider a secured credit card. Many financial institutions offer these as a tool for credit building. Secured cards function similarly to unsecured cards, except they require a refundable cash deposit. The deposit establishes your credit limit and diminishes the bank's lending risk, enabling these cards to offer lower costs and interest rates than their unsecured counterparts. Using a secured credit card responsibly—by making small purchases and paying off the balance in full each month—can significantly help improve your credit score over time.

Another option is to become an authorized user on a friend or family member’s credit card. This arrangement allows you to use their credit card without having to submit your own application. It is crucial to ask someone with good credit to add you as an authorized user because your score can benefit from their responsible credit habits. As an authorized user, the primary cardholder’s payment history and credit utilization will be reflected on your credit report, potentially improving your credit score over time.

 

Can I get a personal loan with a 523 credit score?

Obtaining a personal loan with a credit score of 523 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 of an unsecured loan for bad credit, consider adding a co-signer or a co-borrower with good credit. Having another person on the application can improve your chances of qualifying and securing more favorable terms. The lender perceives less risk because they can collect the money from your co-applicant if you fail to pay. A co-borrower will have equal access to the loan funds, while a co-signer will not.

Another option is to explore cash advance apps. These apps send you a small amount of money almost instantly, which you repay with your next paycheck. They do not require a credit check, nor is there any interest charged. Some apps require a subscription fee, while others may request an optional tip for the service. Overall, they are a cheaper alternative to payday loans.

Credit unions are another excellent place to look when you have a poor credit score. These member-owned institutions are typically less strict and may 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.

When you’re considering a loan with a 523 credit score, make sure you really need the money now. If you can wait a few months and improve your score, you will likely save a lot over the life of the loan.

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

Take your 523 credit score with a grain of salt

There is no universal definition of bad credit, as lenders have varying score requirements and prioritize different factors. It's not always clear what each lender considers acceptable, nor how much weight they give to credit scores in their decisions. Some lenders may place higher importance on your employment stability and housing situation, looking beyond just the numbers.

Nonetheless, a 523 credit score is undeniably low, but it is not a permanent condition. Credit scores are dynamic and can fluctuate over time based on your financial behavior. This perspective encourages taking proactive steps toward credit repair rather than succumbing to despair. By consistently paying bills on time, reducing debt, and correcting any errors on your credit report, you can gradually improve your credit score. With patience and effort, it's possible to move towards a more favorable credit standing, opening up better financial opportunities in the future.

 

How can I improve my 523 credit score?


Raising a credit score from 523 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

First things first, get your credit report. You can access a free report annually from each of the three major bureaus—Equifax, Experian, and TransUnion—at annualcreditreport.com. Carefully check for any errors and dispute them with the corresponding bureau. Addressing and correcting inaccuracies can lead to an immediate improvement in your credit score.

Mistakes can stem from simple 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.

Next, take time to understand what's dragging your score down. Are there instances of late or missed payments, accounts in collections, high credit utilization, or numerous recent credit inquiries? Identifying and acknowledging these issues is crucial because they provide insight into the specific behaviors you need to change to improve your score.

 

Do some damage control

Now, it’s time to address past mistakes. Contact your creditors or collection agencies to discuss unpaid accounts. Creditors might be willing to delete negative information if you pay in full or agree to a payment plan. Demonstrating a commitment to resolving past issues can positively affect your credit score over time.

If your creditor or collection agency refuses to delete negative marks, don’t despair. Negative information typically stays on your report for seven years, but its impact lessens over time. Focus on consistent positive financial behavior: pay all your bills on time and keep your credit utilization low, ideally below 30% of your available credit. These actions will help your score improve steadily.

Consider setting up automatic payments or payment reminders to ensure you never miss a due date. All people make mistakes, and forgetting bills is a common one. Almost every issuer or bank offers autopay to ensure they get their money on time.

To help keep your credit utilization low, pay off your balance throughout the month. Issuers only report your utilization at the end of the month. Paying your balance down before they report will let you use credit and help your score grow.

As you work towards a better score, regularly monitor your credit report to track your progress.

By addressing past mistakes and establishing responsible financial habits, you can gradually rebuild your score and improve your financial health. Remember, persistence and discipline are key to achieving and maintaining a good credit score.

Get a secured credit card

When your credit score is 523, 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 523 credit score

A 523 credit score is far from good and can significantly hurt your ability to get a loan or credit card without a security deposit. Nonetheless, it’s completely possible to improve your situation and qualify for better financial products. Start by reviewing your credit report to figure out the underlying causes of your poor score. Then, work to address these issues and implement responsible financial behavior.

Acknowledge and celebrate each step forward along the way, such as a month of on-time payments or a reduction in your credit card balances. These milestones are indicators of your progress and provide motivation to continue your efforts.

While the route to a good credit score is long, it is firmly within reach with dedication and persistence. By making responsible financial decisions and maintaining disciplined habits, you can gradually improve your credit score, leading to 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.
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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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