How to Make Money from Chime: A Comprehensive Guide
Chime is a popular mobile banking app that offers a range of features to help you manage your finances. But did you know that you can also make money from Chime? In this article, we’ll explore various ways you can earn money using Chime, from cashback offers to high-interest savings accounts. Let’s dive in!
1. Chime Cashback Rewards
One of the simplest ways to make money from Chime is through its cashback rewards program. When you use your Chime Visa Debit Card for purchases, you can earn cashback on eligible transactions. Here’s how it works:
| Category | Cashback Rate | Eligible Transactions |
|---|---|---|
| Gas Stations | 5% | Up to $25 per month |
| Supermarkets | 5% | Up to $25 per month |
| Online Shopping | 1% | Up to $25 per month |
Remember to activate the cashback offers in the Chime app before making purchases. You can also earn cashback on other categories, such as dining, groceries, and utilities, by enrolling in the Chime Cashback program.
2. High-Interest Savings Account
Chime offers a high-interest savings account that can help you grow your money. The Chime Savings account currently offers an annual percentage yield (APY) of 3.00% for balances up to $10,000. Here’s how you can take advantage of this feature:
1. Open a Chime Savings account by linking your Chime Checking account.
2. Transfer funds from your checking account to your savings account.
3. Watch your money grow with the high-interest APY.
3. Referral Program
Chime’s referral program is another way to make money. When you refer friends or family to Chime, you can earn a $50 bonus for each person who signs up and activates their account. Here’s how to get started:
1. Go to the Chime app and navigate to the “Referrals” section.
2. Share your referral link with friends or family.
3. Once they sign up and activate their account, you’ll receive your $50 bonus.
4. Chime Credit Builder
Chime Credit Builder is a feature that helps you build your credit score. By linking a Chime Credit Builder card to your Chime Checking account, you can make on-time payments and build your credit history. Here’s how it works:
1. Open a Chime Checking account and link it to Chime Credit Builder.
2. Make a direct deposit into your Chime Checking account.
3. Set up automatic payments to your Chime Credit Builder card.
4. Your on-time payments will be reported to the credit bureaus, helping you build your credit score.
5. Chime Debit Card Cashback
Chime offers cashback on your everyday purchases with the Chime Debit Card. You can earn cashback on eligible transactions, such as gas, groceries, and dining, by using your Chime Debit Card. Here’s how to maximize your cashback:
1. Activate the cashback offers in the Chime app.
2. Use your Chime Debit Card for eligible purchases.
3. Watch your cashback earnings accumulate.
6. Chime Payday Advance
Chime Payday Advance allows you to access your earned wages up to two days earlier than your regular payday. This feature can help you manage your finances and avoid late fees or other expenses. Here’s how to use Chime Payday Advance:
1. Enroll in Chime Payday Advance in the Chime app.
2. Choose the amount you want to advance.
3. Access your advance up to two days before your regular payday.
By following these steps, you
