SAN FRANCISCO – The fintech Chime has announced a new credit card product that offers cash back on many purchases and has no annual fee.
The offering expands on the suite of banking products Chime has offered for many years, including another secured credit card product, but this is an all-new entrant designed for its Chime+ members.
“With the new Chime Card, we’re building on top of the everyday banking features our members already rely on, to make the Chime experience even more rewarding,” Co-Founder Ryan King said in a statement. “We’ve kept the benefits people value most and removed the mandatory fees and barriers they don’t.”
The Particulars
The new cash-back card is available to Chime+ members and includes a free membership level for those who set up a qualifying direct deposit. In addition to cash back earned from the new Chime card, members will continue to access the suite of Chime+ perks, which include:
• 3.75% APY on savings.
• SpotMe: Fee-free overdraft protection.
• MyPay: Get early access to paychecks.
• Priority customer support.
• Chime Deals, which can be stacked with the cash back earned from the Chime card.
The card is available in a number of designs, including “Classic Black,” “Evergreen,” and even a titanium-metal finish for a cost of $50 plus tax.
