US-based fintech Chime has augmented its fee-free overdraft feature SpotMe by making it available for members using the Credit Builder Visa credit card. Chime’s SpotMe feature – the fee-free overdraft that’s spotted members billions since 2021 – is now available as an overdraft line of credit when members use the Chime Secured Credit Builder Visa credit card, too.

This means members can use their Credit Builder card to access up to USD 200 in fee-free SpotMe coverage. When members use the feature with their aforementioned credit card there is no impact to their credit score. Officials from Chime explained that traditional banks raked in USD 11 billion in overdraft fees in 2019 alone.

This is the antithesis of who they are at Chime and how they believe banking services should work for everyday people. Bringing this feature to Credit Builder is one more way Chime is prioritising their member’s financial progress, rather than profiting from it. With Chime’s Credit Builder card, members can: Using SpotMe will not hurt one’s credit: Users can access up to USD 200 with no impact to their credit score; Start building credit fee-free: No annual fees, no interest, and no minimum security deposit, and no credit checks; Start building credit on everyday purchases: Start building credit with everyday purchases and on-time payments.

Members can use it everywhere Visa credit cards are accepted; Start building credit for a better future: Chime reports to all 3 credit bureaus to help users build credit over time. Members see an increase of 30 points on average over time; Start building credit safely: People can instantly disable their card to prevent fraudulent activities. They can build credit using their own money to help keep away from debt and missing payments.

More information about Chime Chime is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, or Stride Bank, members FDIC. The Chime Visa debit card and the Chime Credit Builder Visa credit card are issued by The Bancorp Bank, or Stride Bank pursuant to a license from Visa US and may be used everywhere Visa debit and credit cards are accepted.

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