HOW TO BUILD CREDIT WITH CHIME

Heyyyyy darlings, HAPPY MONDAY, HAPPY APRIL, AND WELCOME BACK TO THE BLOG!!!! I am sooooo excited to be back home and back to WORK!!! I spent the last few weeks traveling and loving life with some of my favorite people. But I am back and diving right back to WORK! Speaking of back to WORK, not only did I launched my Black Wealth Shop new WEBSITE, but I also launched a brand new FREE CREDIT CHALLENGE!! This is why I decided to make my first post of April ALL about CREDIT. And today I am sharing How to Build Credit With Chime.

I feel like when people are looking to build or clean credit they never thinking of the data on there and mostly focus on the SCORE. Well, guess what? Most creditors could care less about the actual score and more about the DATA on your credit. Here’s a quick example; I have personally cleaned my credit from 420 to 700 and while I was cleaning my credit Capital One gave me a credit card for $300. For the longest time, I only had that one credit card. Then I got a car note and another credit card. But every time I apply for something creditors continue to give me $300-$500 limits even though my score was in the 700’s. Because creditors were looking at the data on my credit and $300-$500 limits were the positive data on my credit.

Ok, Priiincesss, I understand what you are saying but what should I do? GREAT question! I did breakdown exactly how I’m building my credit in my 90 Day Credit Challenge, but one thing I’m doing to continue to quickly build credit is using the new Chime Credit builder.

HOW TO BUILD CREDIT WITH CHIME

CHIME. Ok, let’s kick off this Party of how to build credit with Chime. I have actually been getting a lot of questions about Chime and I have personally recently joined the CHIME Credit Builder program and it’s super easy. Chime is an Online Banking Company and they recently added a credit builder Feature. Chime Help increases your credit score by an average of 30 points with their new secured credit card.

Yes, to get access to the Chime Credit Builder Feature you must be a Chime customer. So open a Chime Account, HERE, sign up for direct deposit, and once you received your first direct deposit you will get access to the Chime credit builder.

Here’s how it works

1. The first step is to move money into your Credit Builder secured account. You can do that right in the Chime app. The money you move to your secured account is the amount you can spend on your card it will display as Available to Spend.
2. Now that you have moved money into your Credit Builder Secure account you can now use your Credit Builder card anywhere Visa® is accepted, around the world.
3. You are ready to build credit and add positive data to your credit. The Chime Credit Builder account offers features that help you stay on top of key factors that impact your credit score. That means the consistent use of your Credit Builder card can help you build payment history, increase the length of your credit history over time, and more. 

*Keep in mind;  On-time payment is a crucial aspect of building your credit score. At the end of each month, you can pay your monthly balance with the money in your secured account and they’ll report your monthly balance paid in full to the major credit bureaus and that way, your everyday purchases like gas, groceries, bills, and subscriptions can count towards your credit history.

I hope you find this post helpful of how to build credit with Chime and I will see you next MONDAY for another finance post!! 

Keep up with ME on the gram as @iampriiincesss, don’t forget to check out the Black Wealth Shop, and of course, join the Black Wealth Squad if you are looking for ways to make your money work for you in the stock market and build wealth for your family.