836 Credit Score: Is It Good or Bad?

A credit score of 836 is not merely good, it’s exceptional. Landing in this credit category signifies a history of responsible credit behavior, including timely payments, low credit utilization, and long-standing accounts. But what opportunities does such a stellar score unlock, and how can you ensure it remains at this peak?

Understanding the implications of your credit score is crucial, regardless of how high or low it is. In this article, we'll explore the significance of your outstanding credit rating, give you a rundown of what products you’re likely to qualify for, and offer tips to sustain your high score for years to come.

What kind of credit score is 836?

An 836 credit score places you among the elite group of U.S. consumers, far surpassing the national average. Approximately 23% of Americans have an exceptional credit score ranging from 836 to 850, but only 1.6% have a perfect score of 850. These scores reflect exceptional credit management skills, including punctual payments and minimal credit utilization. Attaining such a score is the result of long-term diligence and consistency rather than quick fixes.

An exceptional credit score marks you as a preferred borrower in the eyes of lenders. Lenders rely on your score, extracted from your credit report, to gauge your potential risk of default. A high score like 836 indicates that you are a low-risk borrower, making you an attractive candidate for loans and credit. As such, you’re poised to gain access to loans with favorable interest rates, credit cards with lucrative rewards, and higher credit limits. Additionally, an 836 credit score can lead to better terms on mortgages, car loans, and even insurance policies, potentially saving you thousands of dollars over time.

Maintaining this top-tier score involves continued financial discipline. To keep your score at this level, it’s essential to make all payments on time, keep credit card balances low, avoid opening too many new accounts, and regularly monitor your credit report for errors. Understanding the advantages of an exceptional credit score and how to maintain it can ensure long-term financial health and access to the best financial products available.

Getting a credit card with an 836 credit score

Securing a credit card with an 836 credit score is typically straightforward. While there’s no such thing as guaranteed approval, you are highly likely to qualify for nearly every card on the market. Credit issuers are likely to offer you their best products, including cards with the most competitive rates, highest rewards, and top-notch perks. However, it’s important to note that many cards with premium rewards and exclusive benefits also come with expensive annual fees and higher interest rates. Now that you have an exceptional score, it’s crucial to figure out what perks you want and take the time to find the card where the benefits outweigh the costs.

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When choosing the right credit card for you, it’s essential to understand the different types of rewards cards available:

Cash Back Cards:

Overview: These cards offer a percentage of cash back on your purchases. Some provide a flat rate on all spending, while others offer higher rates in specific categories like groceries, gas, or dining.

Best For: People who want simple rewards without dealing with points or miles.

Example: A card offering 2% cash back on all purchases.

Travel Cards:

Overview: Travel cards provide points or miles that can be redeemed for flights, hotels, and other travel-related expenses. They often come with travel-related perks such as airport lounge access, travel insurance, and no foreign transaction fees.

Best For: Frequent travelers looking to maximize rewards for travel expenses.

Example: A card offering 3 points per dollar on travel and dining, with perks like free checked bags and priority boarding.

Co-Branded Cards:

Overview: These cards are affiliated with specific airlines, hotel chains, or retailers. They provide rewards that can be redeemed with the co-branding partner.

Best For: Loyal customers of a particular airline, hotel chain, or store.

Example: An airline card offering free checked bags, priority boarding, and extra miles on purchases with that airline.

Premium Cards:

Overview: Premium cards come with high annual fees but offer substantial rewards and benefits, such as luxury travel perks, concierge services, and high reward rates on certain purchases.

Best For: People who can maximize the value of the perks and rewards to offset the high annual fee.

Example: A card with a $500 annual fee that offers $300 in travel credits, access to airport lounges, and high points on travel and dining.

Business Rewards Cards:

Overview: Designed for business expenses, these cards offer rewards on business-related purchases and often include tools to manage expenses.

Best For: Business owners who want to earn rewards on business spending and manage expenses efficiently.

Example: A card offering 5% cash back on office supplies and internet services.

Evaluating Premium Cards

Luxury rewards cards can be expensive, with annual fees often exceeding $400. Many also have higher APRs (annual percentage rate) to help the issuer pay for the rewards. Don't be simply tempted by high rewards, but look at the full cost of the card.

To determine if you’re getting the best deal, consider the following:

Annual Fee: Calculate if the rewards and perks justify the fee. For instance, if a card offers $300 in annual travel credits and other benefits you’ll use, it might offset a $500 annual fee.
Interest Rates: If you plan to carry a balance, even occasionally, look for cards with lower interest rates to avoid high charges.
Sign-Up Bonuses: Many cards offer substantial bonuses if you spend a certain amount within the first few months. Make sure the spending requirement is within your normal budget.
Rewards Structure: Choose a card that offers high rewards in categories where you spend the most. For example, if you travel frequently, a card offering extra points on travel-related purchases is ideal.
Perks and Benefits: Evaluate the additional perks such as travel insurance, purchase protection, and concierge services. Ensure these benefits align with your lifestyle and needs.

With an 836 credit score, you have the leverage to choose from a wide range of credit cards. By understanding the types of rewards cards available and evaluating your spending habits and lifestyle, you can select a card that offers the most value. Whether you prefer cash back, travel rewards, or premium perks, the key is to find a card where the benefits outweigh the costs. Take your time to research and compare options to ensure you’re getting the best deal for your financial needs.

Getting a personal loan with an 836 credit score

Similarly, an 836 credit score simplifies the process of obtaining a personal loan. Lenders see you as a prime candidate, which means you'll qualify for the lowest interest rates and most favorable loan terms. An excellent score can save you significant money over the life of a loan, whether you're consolidating debt, making a major purchase, or financing a personal project. However, it’s still crucial to do your research and shop around for loans. Understand what rates are available and try to prequalify so that you can compare offers and secure the best terms possible.

Where to Find Different Types of Loans

Banks:

Overview: Traditional banks offer a wide range of loan products, including personal loans, mortgages, auto loans, and more.

Pros: Established institutions with a reputation for reliability; in-person service.

Cons: May have stricter lending criteria and longer approval processes.

Credit Unions:

Overview: Member-owned financial cooperatives that provide similar services to banks but often with more favorable terms.

Pros: Lower interest rates and fees; personalized service.

Cons: Membership requirements; potentially fewer branches and ATMs.

Online Lenders:

Overview: Financial institutions that operate entirely online, offering a variety of loans.

Pros: Convenience; quick approval processes; competitive rates.

Cons: No in-person service; varying levels of customer support.

Loan Marketplaces:

Overview: Platforms that allow you to compare loan offers from multiple lenders at once.

Pros: Easy comparison of rates and terms; can save time.

Cons: Potential for high volumes of offers and marketing communications.

Cash Advance Apps:

Overview: Mobile apps that offer small, short-term loans or cash advances against your next paycheck.

Pros: Fast access to cash; no credit check required.

Cons: Fees can add up; small loan amounts.

Shopping Around and Prequalifying

Shopping around and prequalifying for loans is essential to ensure you get the best deal possible. Prequalification involves a soft credit check, which does not impact your credit score and gives you an idea of the rates and terms you might qualify for. Here's what to look for when prequalifying:

Interest Rates: Compare the annual percentage rates (APRs) offered by different lenders. A lower APR means you'll pay less in interest over the life of the loan.

Loan Terms: Consider the length of the loan and monthly payment amounts. Longer terms mean lower monthly payments but more interest paid overall.

Fees: Look out for origination fees, prepayment penalties, and other charges that can affect the overall cost of the loan.

Repayment Flexibility: Check if the lender offers flexible repayment options, such as bi-weekly payments or deferment in case of financial hardship.

With your exceptional credit score, you are in a good position to pick and choose the best loan. It can literally pay to shop around as you may save thousands over the life of the loan.

Reasons for Loan Denial

Despite a high credit score, you may still be denied a loan. While your score is important for lenders and makes you an ideal candidate, it is not everything they consider. Several other reasons for denials include:

High Debt-to-Income Ratio (DTI): If your monthly debt payments are too high compared to your income, lenders may view you as a higher risk.

Insufficient Income: Lenders require proof that you have a stable income sufficient to repay the loan.

Too Many Existing Loans or Credit Accounts: Multiple active credit accounts or loans can make lenders hesitant to extend additional credit.

Unstable Employment: Lenders prefer borrowers with a stable employment history. Frequent job changes or gaps in employment can be red flags.

Lender-Specific Reasons: Each lender has its criteria and risk assessments, which might include factors like the type of loan you’re applying for or internal policies.

With an 836 credit score, obtaining a personal loan becomes more accessible, but it's still crucial to shop around and prequalify to ensure you're getting the best deal. Consider various lending sources like banks, credit unions, online lenders, and loan marketplaces. Understand the factors beyond your credit score that can influence loan approval, such as your debt-to-income ratio, income stability, and existing credit accounts. By being diligent in your research and preparation, you can secure a loan that meets your needs and offers the best terms available.

Take your 836 credit score with a grain of salt

Your score is only one part of your financial well-being. Lenders also consider other factors like income, employment, and debt levels to determine if they will lend to you. Yes, an 836 credit score is an impressive achievement, but it’s only part of your financial health. Some lenders don't even consider it at all. Do not become complacent, as scores can change for better or worse.

To maintain your status as a strong financial candidate, you must continue to practice sound financial habits. Maintain your score by continuing to pay your bills on time and keeping your usage low. Then, continue to pay down your existing debts and stay employed to be considered a good candidate all around. By upholding responsible financial habits, you can remain a well-rounded and appealing candidate to lenders.

Tips for maintaining your exceptional credit score

Now that you have an exceptional credit score, you’ll want to make sure it does not drop. In order to do that, you'll need to know how your score is calculated. The information on your credit reports is put into credit scoring models that analyze it and spit out your score. FICO and VantageScores are two of the most commonly used credit scoring models. Both scores range from 300 to 850, but they are calculated differently.

FICO scores, created by the Fair Isaac Corporation, are used by 90% of top lenders. They consider five key factors:

Payment history (35%)
Amounts owed (30%)
Length of credit history (15%)
New credit (10%)
Credit mix (10%)

FICO scores are heavily influenced by your payment history and how much you owe relative to your credit limits.

VantageScores, developed by the three major credit bureaus (Equifax, Experian, and TransUnion) also use similar factors but weigh them differently. They focus on:

Payment history (40%)
Age and type of credit (21%)
Percentage of credit used (20%)
Total balances/debt (11%)
Recent credit behavior (5%)
Available credit (3%)

VantageScores tend to place more emphasis on recent credit behavior and available credit.

Now that you have a better idea of how scores are calculated, let’s go over the key things you can do to keep it in the top tier.

Check Your Report

Regularly checking your credit report is essential to maintaining your exceptional score. By reviewing your report, you can catch errors, fraudulent activities, or identity theft early. Each of the three major credit bureaus—Equifax, Experian, and TransUnion—allows you to obtain a free report annually through AnnualCreditReport.com. Look for inaccuracies in your personal information, account statuses, and credit inquiries. Dispute any errors you find immediately to ensure they don’t negatively impact your score. Regular monitoring helps you stay proactive in protecting and maintaining your top-tier credit status.

Pay Your Bills on Time

With such a high score, there’s a good chance you don’t have a single late payment on your credit reports. Keep it up. A flawless payment history is the single most important thing for maintaining your score. Set up reminders or autopay for all your accounts to ensure you never miss a payment. A single late payment can have a big impact on your score, especially when it’s up so high. If you do miss a due date, give your credit issuer a call. They may agree to remove the negative mark if it’s never happened before.

Keep Your Balances Low

Your credit utilization ratio is calculated by dividing the amount of credit you’re using by the amount of credit available to you. Your utilization is probably already under 30%. Aim for under 10% to solidify your high score further. Two ways to keep your credit utilization ratio low are to get higher credit limits and to pay off balances early. Ask your creditor to increase your limit; they just may with a history of responsible behavior.

Let Your Accounts Age

The length of your credit history or how long you’ve had active accounts contributes to your credit score. Time here is your best friend. Keep older accounts open to demonstrate a long history of responsible credit use. Closing older accounts not only lowers your average credit age but negatively affects your utilization ratio. Card issuers may close old accounts if you’re not using them. To avoid this, occasionally make small purchases on old accounts. If your account has a lot of fees, consider closing it. Time will offset the negative impact.

Only Apply for New Credit When Needed

Each new credit application results in a hard inquiry into your credit report, temporarily lowering your score by five to ten points. Your score should bounce back within a few months. Apply for new credit sparingly to minimize this impact. A single inquiry won’t do much damage. Still, multiple inquiries in a short period will have a larger negative effect and signal to lenders that you’re in desperate need of credit.

Maintain a Credit Mix

Lenders want to know that you can juggle different types of credit, such as credit cards and installment loans. Demonstrating that you have experience using various types of credit can boost your score. However, don’t apply for a loan and take on debt solely to improve your score. This is a small factor, and it’s possible to achieve and keep an exceptional credit score with only credit cards.

While an 836 credit score is a strong indicator of financial responsibility, maintaining overall financial health requires ongoing effort. By managing your debts and continuing to uphold good credit habits, you can remain an appealing candidate to lenders.

Next steps for your 836 credit score

An 836 credit score is a testament to your financial responsibility and opens many doors in the credit market. It affords you the best terms on loans and credit cards, saving you money and offering opportunities for financial growth. With such a stellar score, you can secure lower interest rates, higher credit limits, and access to premium financial products, which can significantly enhance your financial flexibility and savings over time.

However, credit isn’t something you can set and forget. Maintaining this exceptional score requires ongoing diligence. Continue to keep your credit utilization low, ideally below 10%, to show that you manage credit wisely. Always pay your bills on time, as even one late payment can significantly impact your score. Regularly review your credit reports to ensure they are accurate and to catch any signs of identity theft or errors that could hurt your credit.

By adhering to the practices that earned you this score—responsible credit use, timely payments, and regular monitoring—you can ensure that your credit remains an asset for years to come. This proactive approach will help you sustain your high score, keeping you in a strong position to take advantage of the best financial opportunities available.

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.

* EarnIn is not available for Connecticut residents

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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836 Credit Score: Is It Good or Bad?

What kind of credit score is 836?

Getting a credit card with an 836 credit score