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Chime Rewards is something you either love or hate. The offers are random and the app gets hung up at times, BUT… I’ve actually been able to save some money using it. It is one of those things where I want to hate it, but secretly love it as I’ve found some good deals! If you are new to the Chime Card, scroll down below to see a recap of this debit card and many FAQ’s.
New offers just appeared yesterday and they are actually pretty good. While they won’t make/save you a ton of money, it is something for little effort.
These offers are set to expire April 23, 2016 and include:
- Cell Phone Bill – Spend $50, get $5 back
- Dunkin’ Donuts – $1 instant cash (spend $1 to get $1 back)
- Wendy’s – $1 instant cash (spend $1 to get $1 back)
- Sephora – Spend $20, get $2 back
- Macy’s – Spend $30, get $3 back
- Kohl’s – Spend $30, get $3 back
- Sports Authority – Spend $30, get $3 back
- Arby’s – $1 instant cash (spend $1 to get $1 back)
- Madewell – Spend $30, get $3 back
- Eat24 – Spend $20, get $2 back
While these aren’t huge money saving opportunities, I will personally save about $10 this go around. This will benefit me on my cell phone bill, Dunkin’ Donuts, and Kohl’s. You can also purchase a gift card with your Chime Card at one of these stores to use at a future time. For example, purchase a Kohl’s gift card and it will still trigger the statement credit within a few minutes. Of course, make sure to read the terms for each offer to check if the purchase must be in-store, online, or if either method works. While it is only a few dollars here or there, over the course of the year it definitely adds up to something for purchases I was going to make anyways.
New to Chime? While you can find all details on the Chime card in this prior post, here is a synopsis:
- What is the Chime Card? A debit card where you must apply and enter your SS#. It is a soft inquiry, which will not affect your credit score.
- How do I apply? Apply here. If approved you will not be able to take advantage of any of the offers until your card comes in the mail. In the meantime, however, you can setup your account online, download the Chime app, and fund your card.
- How do I unload my money from the card? Use your card at any merchant that accepts Visa! You can also purchase gift cards, i.e., Amazon.com, if you want to get the money off fast to use for future purchases. You can withdraw your money at an ATM (up to $500/day) but there is a $2.50 fee per transaction on domestic ATMs. You might also incur a fee from the ATM provider directly.
- What are the fees for this card? If there is no activity on your card for 180 you will be charged $5. Activity can be as simple as a $1 purchase or a $1 transfer from PayPal, but there still needs to be some activity. A $5 fee can add up so make sure to remember this! This card comes with a 3% foreign transaction fee.
- How do I take advantage of the Chime offers? The main purpose of this card is to receive money back with participating offers, not to use at everyday merchants. When you see an offer, it will tell you how many are left. Surprisingly, not many people use Chime, so even if you see there are only 50 transactions left for that one offer, it could take weeks to meet. Before you shop though, make sure there are at least a few transactions left to ensure you will get the money back to your Chime account. Each offer is only available once per card. One thing to note – purchasing gift cards typically works to trigger the cash back. If online, just make sure you are purchasing through the store directly and not a third-party merchant (which is typically with eGift cards but not physical plastic gift cards).
Overall, I found the process with applying and using the card incredibly easy. While this is not a huge money making opportunity, I believe I will save about $100-$200 over the course of the year. Not so bad for hardly any effort!