Chime Credit Builder Secured Visa and Citi Secured Mastercard are both options for individuals looking to build or rebuild their credit. Let's compare them side by side:
General Comparison
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| |
|---|---|---|
Chime Credit Builder Secured Visa | Citi Secured Mastercard | |
Annual Fee | $0
| $0 |
Rewards | None
| None
|
Welcome bonus | None
| None |
Credit Limit | Depends on how much you move from your Chime Checking Account | $200 – $2,500 |
Foreign Transaction Fee | 0%
| 3% |
Purchase APR | N/A | 21.24% – 29.24% (Variable)
|
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Compare Extra Perks & Credit Building Features
Chime Credit Builder Secured Visa
No Annual Fee or Interest: Chime Credit Builder comes with no annual fees or interest charges, making it a cost-effective option for users.
No Credit Check: Applying for Chime Credit Builder doesn't involve a credit check, providing accessibility to individuals with various credit backgrounds.
No Minimum Security Deposit: Unlike many secured credit cards, Chime Credit Builder doesn't require a minimum security deposit, offering flexibility for users.
Reports to All 3 Credit Bureaus: Chime Credit Builder reports to all three major credit bureaus, aiding in the establishment and improvement of credit over time.
No Credit Utilization Reporting: With Chime's unique account design, there's no pre-set credit limit, and credit utilization isn't reported to credit bureaus. Users can spend based on their transferred amount without concerns about credit utilization percentages, providing more financial freedom.
- $0 Fraud Liability: You have the reassurance that you will not be held financially responsible for any unauthorized charges.
Citi Secured Mastercard
- Flexible Payment Due Dates: Citi Secured Mastercard allows you to choose from available payment due dates at the beginning, middle, or end of the month, providing flexibility to align with your financial schedule.
- Credit Bureau Reporting: It reports monthly to all three major credit bureaus, aiding users in demonstrating responsible credit behavior, which is crucial for improving their credit score over time.
- Automatic Account Alerts: Enjoy stress-free management with automatic alerts that remind you of balance levels, upcoming payments, and instances where you exceed your credit limit. These alerts can be received via email or directly on your mobile phone.
- Free FICO Score Access: Cardholders benefit from free online access to their FICO credit score, providing valuable insights into their creditworthiness and allowing them to track improvements over time.
- $0 Liability on Unauthorized Charges: Experience peace of mind with the Citi Secured Mastercard, as it offers $0 liability on unauthorized charges, ensuring you are not held responsible for any unauthorized transactions made on your card.
- 24/7 Customer Service: Citi provides round-the-clock customer service, with representatives available 24 hours a day, 7 days a week. This ensures that you can get assistance whenever you need it, addressing any concerns or queries promptly.
- ID Theft Protection: Citi Secured Mastercard provides an ID Theft Protection program, monitoring selected information to alert users of any suspicious activity, helping to safeguard against identity theft.
Compare The Alternatives
If you're looking for a credit-building credit card, here are some alternatives :
|
|
| |
|---|---|---|---|
OpenSky® Secured Visa® Credit Card | Capital One Secured | Discover It Secured | |
Annual Fee | $35
| $0 | $0
|
Rewards | None |
None
None
|
1-2%
2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and unlimited 1% cash back on all other purchases
|
Welcome bonus | None |
None
None
|
Cashback Match™
Discover will match all the cash back you’ve earned at the end of your first year.
|
Foreign Transaction Fee | 3%
| $0
| 3%
|
Purchase APR | 25.64% (variable) | 30.74% (Variable)
| 28.24% Variable
|
Compare Citi Secured Mastercard
Both cards don't offer rewards or bonuses, but the Capital One Secured Mastercard is our winner due to better credit-building features.
Citi Secured Mastercard vs Capital One Secured Mastercard: How They Compare?
Compare Chime Credit Builder Card
Both Chime and Upgrade cards are new in the view, offers great features for beginners who don't established their credit yet. Which one wins?
The Chime card is more flexible and has no credit check, whereas Capital One opens up possibilities for transitioning to an unsecured card.
Chime Credit Builder Secured Visa vs. Capital One Secured Mastercard: Comparison
The secured Chime Credit Builder Visa® Credit Card is issued 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 credit cards are accepted. Please see the back of your card for its issuing bank.
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. The secured Credit Builder card issued by Stride Bank, N.A.
