What Are Some Good Credit Building Cards/Programs?

Hi guys,

What are some alternative credit building options similar to Chime Credit Builder, which I currently use but am exploring for potentially better alternatives? I’m familiar with Myself, but are there superior programs available? Any suggestions would be helpful, aside from obtaining an actual credit card.

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If your secured card is charging fees, that might be a good reason to close it. But if it isn’t, there’s no need to shut it down until your credit improves enough to get unsecured cards. At that point, you might consider closing it to get your security deposit back.

Since you already have Chime, I suggest sticking with it for your credit-building efforts. Products like Chime aren’t typically used long term because they don’t offer cash back or rewards. For instance, I once got a Cred.ai card because it reported a $1500 credit limit, while my other starter cards only had $300 limits each. Cred.ai is similar to Chime—essentially a debit card that reports to credit bureaus. However, I never use that account anymore and I’m just waiting for them to shut it down. It turned out to be pointless because shortly after, I got approved for an Apple Card with a $4.4k limit. My other starter cards also increased their limits to $4.4k and $8k, and they all have rewards.

Instead of opening another credit builder, consider secured cards that graduate and offer rewards. Discover and US Bank are good options, and Capital One has the Quicksilver secured card, though it’s a bit harder to graduate.

While Chime Credit Builder is a valuable tool for establishing credit, you may be interested in exploring other options. Secured credit cards like Myself can be a good alternative. Additionally, becoming an authorized user on a credit card held by a trusted individual with a strong credit history can positively impact your score. Credit-builder loans, where you make payments on a small loan held in a savings account until repayment is complete, are another option to consider. Remember, consistent on-time payments with your current Chime Credit Builder account remain a highly effective strategy for building creditworthiness.