This is the balance not paid off from the prior month. That way, you’ll always pay on time, a key factor for building credit. Pro Tip: If you have the Safer Credit Building² feature turned on, then the money that you previously moved into Credit Builder will automatically be used to pay your monthly balance. Your payment status is a reflection of whether or not you paid last month’s balance. Now that you have the basics, let’s break down what Chime reports on: Payment status If you choose to pay manually, you’ll receive a notification to pay your statement every month. (Go to Settings > Credit Builder Card > Safer Credit Building to turn on this feature.) On-time payments are an important part of building credit. If you choose to turn on the Safer Credit Building² feature, Chime will automatically use the money set aside to pay off any outstanding balance. At the end of the month, you can then use the money set aside in your secured account to pay your monthly balance. The total amount you spend with your Credit Builder card is your balance. And there’s always money set aside to make payments on your card! Pay balances That way, you won’t spend more than you have in your secured account. When you make a purchase using your Credit Builder card, we subtract that amount from your available to spend on your card. The money you add will set the available to spend on your card. To start, simply move money into your Credit Builder secured account.
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