How To Cancel Chime Credit Builder Card

The Chime Credit Builder Card is widely used for credit building purposes. Nevertheless, there might be a point in time when you no longer require or desire this card. Whether you have accomplished your credit objectives or discovered an alternative card that better aligns with your needs, the cancellation process for your Chime Credit Builder Card is uncomplicated.

However, it is crucial to comprehend that canceling a credit card can have an impact on your credit score. It is advisable to seek guidance from a financial advisor or conduct thorough research before making such decisions. Now, let us delve into the step-by-step procedure for canceling your Chime Credit Builder Card.

How To Close chime credit builder Card?

Follow these steps for smooth cancellation of your chime credit builder Card:

Things to Consider Before Cancelling Chime Credit Builder Card

• Verify if there are any outstanding transactions or balances that need attention.

• Take into account the potential effect on your credit score.

• Stay informed about any possible fees or penalties that may arise.

• Look into alternative options such as downgrading your card instead of completely canceling it.

Pay Off Your Balance

• Verify your current balance: Access your Chime account and verify the current balance on your Credit Builder Card.

• Develop a repayment plan: If you have an outstanding balance, it is necessary to create a plan to pay it off before closing your account.

• Establish automatic payments: If you are unable to pay off your balance right away, consider setting up automatic payments to gradually decrease your balance.

• Ensure your balance is zero: After successfully paying off your balance, log back into your account to confirm that your balance is now zero.

Transfer or Spend Any Remaining Funds

• Review available balance: Examine your Chime Spending Account to determine if there are any funds remaining.

• Utilize remaining balance: If there is a small amount left, it is advisable to utilize it before closing your account.

• Transfer substantial amounts to an alternative account: If you possess a significant sum of money in your account, contemplate transferring it to another bank account.

• Verify the transfer: Once the transfer is completed, verify the success of the transaction by checking both your Chime account and the recipient bank account.

Contact Chime Customer Service:

• Prior to making the call, ensure that you have gathered all essential details, including your account number and personal identification, to be well-prepared.

• Contact Chime’s customer service to initiate the cancellation of your Credit Builder Card.

• Adhere to the instructions provided by the customer service representative diligently as they will assist you throughout the cancellation process.

• Before concluding the call, verify that your card has indeed been successfully canceled.

Also Read: How To Cancel Petal Credit Card

Contact details:

How to Cancel via Phone:

• Find the customer service number on the back of your card.

• Dial the number and follow the automated prompts.

• Request to speak with a representative.

• Inform the representative that you would like to cancel your card.

How to Cancel via Email:

• Write a formal email stating your intention to cancel the card.

• Include necessary details like your name, card number (last 4 digits), and reason for cancellation.

• Send the email to the official Chime customer service email.

• Wait for a confirmation email from Chime.

How to Cancel through Customer Support:

• Visit the Chime website or app and navigate to the ‘Help’ or ‘Support’ section.

• Initiate a chat with a customer service representative.

• Express your desire to cancel your card.

• Follow the instructions provided by the representative.

Cancellation Policy of Chime Credit Builder Card:

• Chime provides the option to cancel your card at any given time.

• Please be aware that there might be fees associated with card cancellation.

• It is important to settle any remaining balance in its entirety.

• Kindly note that refunds for annual fees may not be available after a specific period of time.

Alternatives of Chime Credit Builder Card:

• Secured credit cards offered by different banks.

• Credit builder loans.

• Being an authorized user on a family member’s credit card.

• Personal loans with reasonable interest rates.

Monitor Your Credit Report:

• Verify your credit report: Following the cancellation, it is important to consistently review your credit report to confirm that the account has indeed been closed.

• Address any discrepancies: If your credit report still indicates that your Chime account is open, take the necessary steps to dispute this information with the credit bureau.

• Stay vigilant about your credit score: Regularly monitor your credit score to promptly identify any unforeseen alterations.

• Sustain positive credit practices: Uphold responsible credit usage to uphold and enhance your credit score.

Conclusion:

While cancelling your Chime Credit Builder Card may seem like a quick fix, it’s important to understand the potential consequences before hitting the “cancel” button. Remember, credit bureaus consider card cancellations, especially those with outstanding balances, a negative influence on your credit score. To navigate this transition smoothly, first weigh alternative options like downgrading the card or utilizing secured credit cards. If cancellation remains your choice, meticulously ensure a zero balance and consider seeking guidance from a financial advisor for personalized advice.

This comprehensive guide equips you with the knowledge and resources needed to cancel your card seamlessly, whether you choose phone, email, or online chat. We’ve even included handy contact details and explored alternative credit-building solutions just for you. Finally, don’t forget to monitor your credit report post-cancellation to ensure everything closes as expected. Remember, responsible credit behavior is key to a healthy credit score, so choose wisely and navigate your financial journey with confidence!

Also Read: How To Cancel Firestone Credit Card

Video Guide For Cancelling Chime Credit Builder Card

FAQs

How To Close Chime Account Online?

You can close your Chime Account within Chime App with these steps. Open Chime App> Go to Settings> Click Edit link from Personal Info tab> Tap on Close Account> Verify your Identity> Select Submit Request> Got It. 

If I Close My Chime Account Can I Open A New One?

Indeed, it is possible to open a new account after closing your Chime Account. To do so, it is necessary to contact the Chime Customer Service team at 1-844-244-6363.

Chime Closed My Account How Do I Get My Money Back?

To initiate your refund request after Chime has closed your account, you have the option to engage in a chat with their customer support team through the Chime App or contact them directly at 1-844-244-6363.

Does Chime credit Builder hurt your credit?

With Credit Builder from Chime, there is no need for concern as credit utilization is not reported. Your credit score can be positively influenced by a history of on-time payments. However, it is important to note that late payments can have a negative impact on your credit score.