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Best Credit Cards for Bad Credit: Instant Approval & No Deposit

No credit check cards with instant approval and no deposit requirements are ideal as they make borrowing more straightforward and less financially burdensome.

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Updated August 8, 2024
Written by Rachel Alulis
Here at MoneyFor, our goal is to help you make informed financial decisions. We are committed to accuracy and impartiality in all our content. It’s important to note that articles may reference products from our partners who compensate us. This influences which products we feature and their presentation on our site, not our evaluation.

Key takeaways

  • The best credit cards for poor credit with instant approval and no deposit will allow you to improve your score with responsible use.
  • Instant approval means that applicants will find out within minutes whether they have been approved.
  • Unsecured credit cards do not require a deposit. This makes them more accessible to consumers.

Credit cards for bad credit have low eligibility criteria, which makes it easy for anyone to be approved. Having a bad or fair score can make life difficult. Luckily, it’s not forever. Financial institutions know that people make mistakes and need another chance. That’s why some offer no credit check cards with instant approval and no deposit requirements.

These cards have minimal approval requirements and can be used to improve your score. There is no such thing as guaranteed approval credit cards but the ones we’ve chosen come awfully close.

If your score is below par and you’d like a new credit card, read on to discover your options.

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Top 3 no credit check cards with instant approval and no deposit

There are a few instant approval credit cards with no credit check and no deposit required. Our top choices are the following:

Bad credit rating

A bad rating is a low numerical score that represents how likely an individual is to pay back what they borrow. Consumers with low scores are considered high-risk and less likely to repay their debts. The two major credit scoring models are FICO and VantageScore. FICO scores are used by 90% of lenders, and so we will discuss those.

FICO scores range from 300 to 850, with ones below 580 being considered bad by most lending standards. FICO scores above 670 are good, while ones from 580-669 are classified as fair. This rating is derived from various factors, including payment history, utilization rate, length of time you’ve had accounts, types of accounts, and recent inquiries.

A bad rating significantly affects the type of card you qualify for. WalletHub found that most credit card issuers require applicants to have a credit score of 640 to 700 or higher. Consumers with FICO scores below 580 will still be able to find cards. The catch is they may not be the best offers and will likely require a security deposit.

Frustrated with a low credit score?

Get tips to fix your bad credit!

Instant approval and no deposit: What does it mean?

Instant approval refers to the process by which financial institutions provide a decision on an application within minutes of submission. This is facilitated by automated algorithms that evaluate an applicant’s information against predetermined criteria set by the financial institution. With instant approval, applicants know almost immediately whether they have been approved, which simplifies the application process and reduces the wait time.

In the context of cards, no deposit means that applicants are not required to pay a security deposit upfront to obtain the card. This is typical of unsecured cards, which do not require collateral as part of the agreement. No deposit cards are particularly attractive to individuals who may not have the upfront cash available for a secured card but wish to build or rebuild their score.

No credit check cards with instant approval and no deposit requirements are ideal. They make borrowing more straightforward and less financially burdensome. However, it’s important to consider other aspects of the card, such as interest rates, fees, and limits, which can vary significantly and impact overall cost and usability. If you have a lower score, you will likely be offered a card with a modest initial credit limit, high APR, and extra fees – like annual fees – due to the perceived risk. If you want a high limit and fewer fees, you should improve your score.

A better option may be a secured credit card. These require a security deposit – 100% refundable – but have a low to no minimum score requirement. They are easy to be approved for and perfect for rebuilding credit.

Read more about credit cards!

Criteria for no credit check card approval

Obtaining a no credit check card can be a viable option for individuals with very poor scores. While these cards are more accessible, issuers still consider several criteria to mitigate risk and ensure responsible use.

  1. Steady income source: Issuers want to ensure that applicants have the financial means to make timely payments. This can include employment income, social security benefits, or other verifiable sources of income.
  2. Valid identity documents: Typically, these are a government-issued ID, Social Security number, and sometimes proof of residence.
  3. Credit-eligible: Applicants must meet the minimum age requirement, usually 18, to be eligible for a credit card.
  4. Active bank account: Having an active checking or savings account may be a requirement, particularly for secured cards that need a deposit or for verifying financial stability.
  5. Payment history: While a traditional credit check is not performed, some issuers may review payment histories from utility bills, rent, or other non-credit related accounts to assess reliability.

Meeting these criteria helps issuers determine the applicant’s ability to manage a card responsibly, even without a comprehensive credit history review. By focusing on current financial stability and identity verification, users get a pathway to rebuilding scores.

Looking for a high limit credit card?

Find our best options for $2,000 limit credit cards for low scores.

No credit check cards: The Basics

No credit check cards are a type of financial product designed for individuals with very poor scores or none at all. Unlike traditional cards, they do not require a hard inquiry, which makes them accessible to a broader range of people. These cards typically fall into two categories: secured and unsecured.

Secured cards require a cash deposit as collateral, which often determines the limit. This deposit reduces the risk for the issuer and provides a way for cardholders to build or rebuild their score by making timely payments. On the other hand, unsecured cards do not require a deposit. The ones for consumers with poor scores tend to have higher interest rates and fees to mitigate the risk for the issuer.

Both types of cards report to major credit bureaus – Equifax, Experian, and TransUnion, allowing users to improve their scores over time. To avoid high interest charges and further damage, it’s crucial to use these cards responsibly, keep balances low and make payments on time. While they offer an accessible option for those struggling to get approved, it’s essential to read the terms and conditions carefully to understand all associated costs.

Card Terms and FeaturesUnsecured Credit CardsSecured Credit Cards
Security deposit necessaryNoYes
Minimum credit scoreTypically, 670 or higher, but cards for scores under 670 existUsually available for no credit history or scores below 670
Average APROver 20%Varies
Annual feeSometimesUsually not required due to security deposit
Reports to credit bureausYesYes, in most cases
Earn rewardsYes, many rewards cards are availableSometimes
From Bankrate

Are secured or unsecured credit cards best for rebuilding credit?

When it comes to raising your rating, both secured and unsecured cards can be effective tools, but they each have distinct advantages and considerations.

Secured cards

These cards are often recommended for rebuilding scores because they require a cash deposit that serves as collateral. Typically matching the limit, this deposit reduces the risk for the issuer and makes approval easier for individuals with poor scores. Provided you use a secured card responsibly by making timely payments and keeping balances low, you can significantly improve your rating over time. The deposit, in this way, instills a sense of financial discipline.

Unsecured cards

They do not require a deposit but often come with higher interest rates and fees, especially for those with poor ratings. While unsecured cards can help rebuild your score, they are harder to be approved for without a good payment history. Responsible use—paying off balances in full and on time—can lead to score improvements.

Ultimately, the best choice depends on your financial situation and discipline. Secured cards are generally more accessible for those with low scores. In contrast, unsecured cards might be suitable for those who prefer not to tie up funds in a deposit but can manage potentially higher costs responsibly.

Can a secured credit card become unsecured?

Yes, a secured card can become unsecured over time. Many card issuers offer a path to transition from a secured card to an unsecured one. This is only possible after the cardholder has demonstrated responsible financial behavior. Here’s how it works:

You build a positive payment history

To qualify for an upgrade, cardholders need to use their secured card responsibly. This includes making timely payments, keeping balances low relative to the limit, and avoiding any negative marks on their credit report.

Review period

Most issuers review accounts automatically every six to twelve months. During this review, they assess the cardholder’s behavior and overall financial stability.

Offer upgrade

If the review is favorable, the issuer may offer to convert the secured card to an unsecured one. This process usually involves returning the initial security deposit to the cardholder and sometimes increasing the limit.

Transitioning to an unsecured card comes with benefits such as lower fees, higher limits, and access to better rewards programs. It also signifies an improvement in the cardholder’s creditworthiness.

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Do you have a bad score but need a credit card?

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Using a credit card to improve your credit score

To improve your score, it’s important to adhere to several key financial behaviors:

Make payments on time

Paying your bill on time is the best thing you can do. Your payment history is the most important factor in calculating your score. Consistently making on-time payments will bring your score up. If you think you cannot make a payment on time, contact your issuer. They may help you out with a hardship plan or by waiving interest charges.

Keep balances low

Your credit utilization ratio is the amount you’ve spent versus your available credit. Only use a small portion of your limit – less than 30%. Lower is even better.

A high utilization ratio can negatively impact your score. It tells lenders that you’re too reliant on borrowing money and makes them afraid you won’t pay them back. Try to keep your balance well below your limit. Make multiple payments throughout the month to help it stay there.

Monitor your credit

Regularly check your credit report for accuracy. This will help you understand how your financial behavior affects your score. Additionally, checking your report can help you spot errors and pinpoint past mistakes. If you find any inaccurate marks on your account, dispute them with the issuing bureau. Removing negative marks can give an immediate boost to your score.

A few cards we listed send you your score every month. Take a look at your score and see if it’s going up. If it’s not, consider your behavior to determine what you need to change.

Request credit limit increase

A higher limit makes it easier to keep your usage low. A lot of issuers will start you off with a low initial limit but you don’t have to be stuck there.

Request a limit increase after a few months of on-time payments and low utilization or if you’ve gotten a raise at work. A higher income or good payment history proves you can handle a higher limit.

Keep old credit card accounts open

Think twice before you close an account. The longer you’ve had accounts open, the more data lenders have, and the better your score. A lot of secured cards allow you to upgrade to an unsecured one. This way, you won’t diminish the length of time you’ve had accounts open.

The exception is if the card has a high annual fee. In this case, it’s better to close it.

Common mistakes that affect credit scores

Maintaining a healthy score is crucial for financial flexibility. Yet many individuals inadvertently make mistakes that can negatively impact it. Here are some common errors to avoid:

  1. Late payments: Even a single late payment can significantly reduce your rating. It’s crucial to make payments on time, every time, as payment history is a major factor influencing your score.
  2. High utilization: Consistently using a large portion of your limit can signal to lenders that you’re overextended and pose a higher risk, thereby lowering your score. It’s advisable to keep your utilization below 30% of your total limit.
  3. Ignoring credit report errors: Failing to regularly review your credit report for errors can lead to inaccuracies that adversely affect your score. It’s important to dispute any errors you find with the issuing bureau.
  4. Closing old credit accounts: The length of time you’ve had open accounts is important. Closing old accounts will shorten your credit history and potentially lower your score.
  5. Co-signing loans indiscriminately: When you co-sign a loan, you are equally responsible for the debt. If the other party fails to make payments, your score will be affected.
  6. Neglecting diverse types of accounts: A mix of account types (e.g., cards, auto loans, and mortgages) can benefit your score. Having only one type of account can make it harder to boost your rating.
  7. Failing to settle collections: Ignoring collections accounts can severely hurt your score. Paying off a collection can positively impact your score, even though the account may still show on your report.

By steering clear of these common mistakes, you can protect and improve your score, which will enhance your overall financial health.

Visit MoneyFor to learn more.

Alternatives to no credit check cards

While no credit check cards can be very helpful, there are not many options on the market. Most consumers prefer unsecured cards for poor scores. While these cards do require a credit check, they do not ask for a security deposit. The following are our best unsecured cards.

Before you choose one of these cards, be sure you understand the potential costs. The APRs and fees (like annual fees) they charge are often substantial.

Rebuild your credit, no deposit required

Rebuilding your score without putting down an upfront deposit is possible with certain financial products. Here are some options designed to help you get back on track:

Credit builder loans: Unlike traditional loans, a credit builder loan allows you to make fixed payments into an account. The total amount is disbursed to you only after you’ve made your last payment. This process is reported to credit bureaus, which effectively helps you build your score.

Authorized user status: Becoming an authorized user on someone else’s account can be a powerful way to benefit from their good financial habits. You are not required to make a deposit or even submit an application, but their account activity, like on-time payments, can positively affect your score.

Reporting regular bills: Certain companies report all your monthly payments. This enables you to improve your score with on-time utility bill payments, rent, subscriptions, and more! Paying your bills on-time demonstrates that you are a reliable borrower and can help your financial situation.

Hybrid debit-credit cards: Hybrid cards combine the features of debit and credit cards. Purchases are charged directly to your bank account, like with debit cards, but you have the option to pay off the balance over time as with credit cards. The pay-over-time feature allows issuers to report your payments to the credit bureaus. Pay your bills on time, and your score will improve.

By utilizing these no-deposit-required options, you can start rebuilding your score effectively while avoiding the financial burden of a security deposit. Each product offers a pathway to a better rating, provided that payments are managed responsibly and on-time.

Curious about how soft inquiries affect your credit?

Learn the ins and outs of how a soft inquiry works!

Frequently asked questions

1. Can you get a credit card with bad credit and no money down?

Yes, it is possible to get a card without making a deposit when your score is in the poor or very poor range. Unsecured cards designed for individuals with low scores do not require a deposit. They often come with higher interest rates and fees, so it’s important to manage them carefully.

2. What is the easiest unsecured credit card to get with a 500 credit score?

The easiest unsecured cards to get are subprime ones designed specifically for consumers with low ratings. These cards have lenient requirements and will accept applicants whose scores fall in the poor or fair range.

3. Is a secured or unsecured card better when you have bad credit?

Secured cards are better if you can afford a security deposit. They have fewer fees and the security deposit is fully refundable. Unsecured cards for bad credit typically come with high APRs and extra fees, which makes them a more expensive option in the long run. Both can help you improve your score with responsible use.

 

Bottom line

No credit check cards with instant approval and no deposit requirements are hard to find in the USA. But they turn out to be very useful when you do find such as card. No matter your score, chances are you will be approved for these cards. Be sure to read the fine print and make certain you can afford them before you apply. Lots of cards designed for lower scores come with additional fees.

Using such a card wisely, you can boost your rating. A higher score will give you access to better financial products, which means you don’t have to worry about a hard inquiry and will be eligible for more cards.

Find an issuer that will approve you and a card you can afford. Then use it to raise your rating!

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.
* EarnIn is not available for Connecticut residents
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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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