Chime
Strengths
- The best-known fee-free credit builder: secured card with no fee, no interest, no credit check, reporting to all 3 bureaus.
- SpotMe (up to $200) and MyPay smooth out tight months — built for first paychecks.
- 24/7 human support and a polished, widely loved app.
Weaknesses
- The top savings rate (3.75%) requires Prime status with qualifying direct deposits; the standard rate is 0.75%.
- Not a bank: FDIC is pass-through, and Chime paid a $4.55M CFPB penalty in 2024 over delayed refunds.
- Cash deposits and out-of-network ATMs can cost money.
$0/mo
$0 — no monthly fees, no overdraft fees, no minimums. Watch: $2.50 out-of-network ATM fee, plus cash deposit fees at some retailers.
None — Chime is an adult account (18+).
Tiered high-yield savings: 0.75% APY standard, up to 3.75% with Chime Prime status (qualifying direct deposits). Round Ups and automatic paycheck savings. No minimum balance.
Visa Zero Liability, real-time alerts, instant card lock, virtual card, 24/7 human support.
Yes — pass-through via The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Chime itself is a fintech, not a bank.
No investing. Credit building is the star: the secured Chime Card (formerly Credit Builder) — no annual fee, no interest, no credit check — reports to all 3 bureaus. Average score increase of 28 points in ~8 months. SpotMe covers up to $200 of overdrafts fee-free; MyPay gives early access to earned wages.
Basic in-app guidance and blog content. No structured program.
24/7 human support via chat and phone — rare in the free segment.
United States only.