Chime, a mobile banking group known for the Chime card, has introduced new cashback rewards and design options for its Chime+ members.
This update builds on Chime’s existing suite of services, including high-yield savings, early pay access, credit building, instant loans, and deals, enhancing the fee-free banking experience with additional perks.
Chime+ Benefits
Chime+ is a free membership tier for those who set up a qualifying direct deposit. Launched earlier this year, Chime has added more rewards for members at various levels of the program. With the new Chime Card, Chime+ members can earn 1.5% cash back on rotating categories such as groceries, gas, and restaurants, all tracked automatically in the app with no earnings cap.
- 3.75% APY on savings;
- Fee-free overdraft protection through SpotMe;
- Early access to MyPay for making payments;
- Prioritized customer support for faster assistance;
- Access to Chime Deals that can be combined with cash back.
The new Chime Card is a secured credit card that combines practical design features and credit-building tools. Members have the choice of free color options or paid finishes, allowing them to select a card they like best while benefiting from rewards, an attractive design, and an app-based experience.
The Chime Card is currently being rolled out and will be available to all new and existing members throughout 2025. Current Credit Builder cardholders can upgrade directly within the application when it becomes available.
Chime’s IPO Ambitions
In preparation for its initial public offering, Chime aimed to achieve a valuation of USD 11 billion. According to a regulatory filing, the company was scheduled to trade on the Nasdaq on June 12, 2025. The IPO was anticipated to offer 32 million shares at prices between USD 24 and USD 26 each, with approximately 26 million shares coming from Chime and an additional 6 million from stockholders. At the top end of its price range, Chime could potentially raise about USD 832 million.
