This makes the card feel more like a debit card, as it’s tied to how much cash is in a user’s bank account - rather than a traditional credit card that can allow for overspending.Ĭhime wanted to develop a new kind of credit card experience due the growing popularity of debit cards in the U.S. With the Chime Credit Builder Visa Credit Card, users can control how much they want to spend by transferring funds from a “Spending Account” to their Credit Builder Secured Account, and can then charge up to this amount wherever Visa is accepted. challenger bank Chime, now valued at $5.8 billion, is entering the credit card market with today’s launch of a new card designed to help consumers build their credit history by way of everyday transactions.
