In today’s fast-paced world, financial emergencies can strike at any time. To help you navigate these unexpected expenses, Chime and other cash advance apps offer convenient access to funds when you need them the most.

But how much can you borrow? In this comprehensive guide on “Chime Cash Advance Limit,” we’ll break down everything you need to know about Chime’s offerings, compare it with other popular cash advance apps, and explore alternatives that may suit your needs better.

Can You Get A Cash Advance With Chime?

Yes, Chime offers cash advances through its SpotMe feature and Credit Builder credit card.

Chime SpotMe

As a Chime user, you might already be familiar with the SpotMe feature provided by this innovative financial platform. SpotMe essentially acts as an overdraft protection service that allows you to make transactions even when your account balance is low or negative.

The SpotMe feature is extremely convenient, allowing approved users to overdraft their account between $20 and $200 without any fees. This limit depends on factors such as your direct deposit frequency and amount received.

For instance, if you frequently receive substantial direct deposits into your Chime account, there’s a chance that you’ll have a higher SpotMe limit than someone with infrequent or smaller deposits.

Chime Credit Builder Credit Card

The Chime Credit Builder Credit Card is another excellent option for accessing a cash advance through your Chime account.

For instance, this secured card allows you to load an amount from your spending account onto the card and then borrow against it as needed – functioning similarly to a cash advance.

There are no hidden fees or interest charges on advances when borrowing through the Chime Credit Builder program.

As a cash advance user looking for extra resources during emergencies or unexpected expenses, exploring options offered by trusted financial institutions like Chime can ensure that you make well-informed decisions that are beneficial in the short and long run.

What Is The Chime Cash Advance Limit?

Chime offers two types of cash advances, Chime SpotMe and the Chime Credit Builder Credit Card, each with different limits.

Chime SpotMe Limit

As a Chime user, you may have access to the SpotMe feature, which offers protection against overdrafts. With SpotMe, eligible users can make debit card purchases that exceed their account balance without incurring any fees or interest charges.

The Chime SpotMe Limit varies based on your individual financial history and deposit behavior. Typically, it ranges between $20 and $200. As you continue to use Chime and maintain a good standing with your account, the chances of having your cash advance limit increased become higher.

For example, if you consistently receive direct deposits of at least $200 from an employer or government benefits payer and responsibly manage your spending habits by keeping track of your transactions, it could potentially lead to an increase in your SpotMe limit over time.

Chime Credit Builder Credit Card Limit

The Chime Credit Builder Credit Card is a great option for those looking to build their credit score. The limit can range from $200 to $1,000 and is based on your creditworthiness.

This means you may be approved for a higher limit if you have a good credit history. Unlike traditional credit cards, the Chime Credit Builder Credit Card has no annual fee, no minimum security deposit required, and no interest charges.

It’s a convenient way to start building your credit without worrying about high fees or interest rates.

Factors Affecting Chime Cash Advance Limit

My experience as a cash advance user has taught me that the amount of money I can borrow from Chime depends on several factors. These include my deposit history, monthly income, and transaction history from the past two months.

The better my account activity and financial stability, the higher my Chime cash advance limit will be.

Moreover, other things that may affect my Chime cash advance limit include any previous overdrafts or late payments in my account’s record. Additionally, if I use their in-house overdraft protection service called Chime SpotMe frequently but fail to repay on time repeatedly, it may cause app developers to lower or restrict this offer altogether.

Other Cash Advance Apps Limit

Learn about the cash advance limits of other popular apps such as Albert, Varo, Cleo, Empower, MoneyLion, Dave, Branch, Klover, and Brigit by reading on.

1. Albert

One cash advance app that works with Chime is Albert. They offer advances between $100 and $250, making it a great option for those in need of small loans. The best part? There are no processing fees; users can pay just $4.99 for instant delivery if they need an advance immediately.

Plus, other cash advance apps like Dave and Earnin are compatible with Albert for easy access to loans and repayment. It’s important to note that not all cash advance apps work with Chime, so be sure to check compatibility before linking any app.

2. Varo

Varo is a neobank that offers cash advances of up to $100, with repayment terms ranging from 15 to 30 days. To qualify for a cash advance with Varo, you must have an active account open for at least 30 days and have had $1,000+ directly deposited within the past 31 days.

The actual cash advance amount you can receive from Varo depends on various factors, such as deposit history and monthly income. The good news is that Varo’s cash advance program is compatible with Chime and offers an interest-free advance of up to $250 with a flexible repayment timeline.

3. Cleo

I have been using Cleo, a financial management app that also offers cash advances up to $100 through its premium plan, Cleo Plus. It works great with my Chime account! The best part is that there are no interest rates or credit checks.

Cleo also has an excellent Credit Builder subscription service that allows me to get up to a $120 payday advance. They offer budgeting and saving support through personalized insights and suggestions that help me manage my finances better.

Their AI analyzes my spending patterns, providing personalized recommendations and actionable insights for better financial management.

4. Empower

Empower is a budgeting and savings app that offers an easy-to-use cash advance feature with no late fees. The app is available for freelancers, gig workers, and anyone in need of quick cash.

With Empower, you can get an interest-free cash advance of up to $250 delivered directly to your debit card instantly.

One unique aspect of Empower is its ability to offer 10% cashback rewards on all debit card purchases made using their Empower Debit Card. However, the app charges an $8 monthly subscription fee regardless of whether you use the service.

Additionally, the actual amount you receive as a cash advance from Empower will depend on several factors, such as deposit history, income amount, transactions from previous months and more.

5. MoneyLion

MoneyLion is another popular cash advance app that offers instant access to funds of up to $250 with standard or turbo delivery fees. The app also features Instacash, which allows users to get free cash advances of up to $500 at 0% APR.

However, Turbo delivery comes with fees based on the amount and if transferring to an external account like Chime. MoneyLion has become a favorite among users looking for an overdraft protection alternative because it doesn’t conduct credit checks and charges lower fees than traditional banks.

6. Dave

Dave offers users up to $500 as a cash advance app at 0% interest. Your eligible amount depends on factors such as your income and spending habits. A unique feature of Dave is that it also monitors your account activity and alerts you if it detects any upcoming bills or unexpected expenses so that you can avoid overdraft fees.

Moreover, the app provides budgeting tools to help you manage your finances and save money. Dave works with Chime along with other cash advance apps like Albert, Empower, and Branch to provide instant cash advances without having to wait for payday.

7. Branch

One of the cash advance apps that work well with Chime is Branch. With this app, you can get an instant cash advance of up to $500 without any membership fees or fees on the advance itself! Unlike other payday loans, Branch offers affordable repayment terms and does not charge high-interest rates.

The actual amount you receive depends on several factors, such as your deposit history, monthly income, and transactions from the past two months.

8. Klover

Klover is a cash advance app that offers Chime users up to $100 in instant cash advances. Like other apps, the actual loan amount you can get depends on several factors, including your transaction history and income.

Klover also offers a points system that rewards users for referring friends, monitoring their spending habits, and more. With its monthly subscription fee ranging from $1 to $5.99 per month and no extra fees for an actual cash advance, Klover is among the top-rated apps that work well with Chime accounts.

9. Brigit

Brigit is a popular cash advance app that offers up to $250 in instant cash advances. Unfortunately, Brigit is not yet compatible with Chime, which means that if you’re a Chime user who needs a short-term loan, you’ll have to look elsewhere for help.

However, Chime does work with other cash advance apps like Klover and Cleo, which offer maximum advances of $100 when working with Chime. Dave could be an option if you need more than that since it offers up to $100 cash advance with automatic repayment and no fees for late payments when working with Chime.

Comparing The Top Cash Advance Apps

Let’s compare the top cash advance apps, including fees and costs, cash advance limits, user experience, and compatibility with Chime so you can make an informed decision on which app to use.

Fees And Costs

As a cash advance user, it’s crucial to understand the fees and costs associated with using these apps. Most cash advance apps charge a monthly subscription fee ranging from $1-$5.99 per month.

It’s essential to consider the cost of borrowing from each app when choosing which one to use. While most cash advance limits range from $20-$500, interest rates charged on Chime Instant Loans start at approximately $5 for every $100 borrowed, and interest increases if you borrow more than that.

Cash Advance Limits

As a cash advance user, it is important to understand the cash advance limits set by different apps. For Chime users, the Chime SpotMe feature allows eligible account holders to access up to $200 in instant cash advance with no fees or interest.

Other popular cash advance apps like Albert, Varo, Cleo, Empower, MoneyLion, Dave, and Branch also have their own maximum limits that typically range from $20-$500 depending on your account history and risk assessment.

It’s important to compare these app limits and features before choosing which one suits your needs best.

User Experience

As a cash advance user, your experience with different apps can make all the difference in managing your finances. When comparing top cash advance apps like Chime, Albert, and Varo, it’s essential to consider factors such as fees and costs, repayment terms, user experience, and compatibility with Chime.

In addition to user-friendliness, other important aspects of cash advance apps that can impact your overall experience include monthly subscription fees and instant loan limits.

While most cash advance apps charge a low monthly fee ranging from $1-$5.99 per month for access to their services’ premium features.

Compatibility With Chime

I have found that many cash advance apps are compatible with Chime, making it easy for me to access additional funds when I need them. Some of the most popular options include Current, Albert, Dave, Cash App, and Cleo.

These apps offer a variety of rewards, such as cashback offers and crypto trading, while providing me with options for teen banking or credit building. Additionally, some, such as Cleo even offer credit-building subscriptions where users can receive up to $120 payday advances without interest fees or a credit check.

Cash Advance Apps That Don’t Work With Chime (For Now)

Some cash advance apps, such as Earnin and Float Me, do not currently work with Chime, but users can still explore other options like MoneyLion or Cleo.

Earnin

Earnin is a popular cash advance app that allows you to access up to $100 from your paycheck before payday. Unfortunately, Earnin does not currently work with Chime, but it may be supported in the future.

One of the unique features of Earnin is its “tip” system – instead of charging fees or interest rates, users are encouraged to leave a small tip when they take out a cash advance.

Another benefit of using Earnin is that it doesn’t conduct credit checks or report payments to credit bureaus, meaning that taking out a cash advance won’t affect your credit score.

Float Me

One cash advance app that doesn’t currently work with Chime is Float Me. Although it’s a third-party app, Float Me offers cash advance services based on your deposit history and monthly income.

Like most apps, they charge a monthly subscription fee of $1 to $5.99 per month but don’t charge for the actual cash advance.

While many users find these apps helpful in emergency situations or when waiting for their next paycheck, it’s important to note that qualification typically requires specific requirements like direct deposits and spending activity.

Understanding The Chime Cash Advance Limit

To fully understand the Chime cash advance limit, it’s important to be familiar with the factors that affect your limit and which apps work best with Chime.

Can I Use Any Cash Advance App With My Chime Account?

As a Chime user looking to link your account with a cash advance app, checking compatibility and avoiding potential issues is essential. While Chime works with various cash advance apps such as Albert, Empower, MoneyLion, Klover, Cleo, Dave, Varo, Branch, and Earnin for instant access to extra funds based on eligibility requirements like direct deposits and low-spending activity.

Not all payday loan apps are compatible with Chime. For example, due to technical challenges, Earnin does not currently work with Chime accounts.

Does Earnin Work With Chime?

Yes, Earnin works with Chime. However, the maximum advance limit is only $100. Similar to other cash advance apps, the amount of your advance will depend on various factors such as deposit history and monthly income.

To qualify for an advance through Earnin while using Chime, you must have direct deposits set up and have received a certain amount within a specified period. It’s important to note that even though Chime offers overdraft protection with its SpotMe service, it operates differently from traditional cash advance apps like Earnin.

With SpotMe, eligible members can cover overdrafts up to $200 without penalty fees or interest charges.

Does Brigit Work With Chime?

As a Chime user looking for cash advance options, you may wonder if Brigit works with Chime. Unfortunately, the answer is no. Some cash advance apps do work with Chime, and some do not. Along with banks such as Varo and Net Spend, Brigit does not currently work with Chime.

It’s important to note that while some cash advance apps charge monthly subscription fees or per-advance fees, others like Albert and Dave offer fee-free options. Additionally, the cash advance limits for these apps typically range from $20 to $500 based on your account history and risk assessment.

How Does A Paycheck Advance Differ From A Payday Loan?

Let me explain the difference between a paycheck advance and a payday loan. A paycheck advance, offered by cash advance apps like Chime SpotMe, allows you to borrow a portion of your earned wages before your next payday.

It’s essentially borrowing against your own money without interest or fees. You simply pay back the amount borrowed when your paycheck hits your account.

On the other hand, payday loans are short-term loans with high-interest rates and additional fees that must be paid back in full on your next payday. They can also negatively impact your credit score if not repaid on time.

Do Cash Advance Apps Hurt My Credit Score?

Cash advance apps do not affect your credit score directly. Cash advances are considered short-term loans and do not appear on your credit report like traditional loans would.

However, falling behind on payments can harm your credit score indirectly if the app charges off the debt or sends it to a collection agency.

It’s worth noting that other factors, in addition to cash advances themselves, can impact one’s credit score, such as late payments and high balances on credit cards.

What Fees Are Associated With Cash Advance Apps?

As a cash advance user, it’s important to understand the fees associated with these apps. Most cash advance apps charge a monthly fee ranging from $1 to $5.99 per month for their services.

Some apps may also charge a per-advance fee on top of this, as well as an extra fee if you opt for an instant cash advance.

It’s crucial to read the terms and conditions carefully before using any cash advance app and make sure that you understand all fees associated with the service.

Alternatives To Chime With Higher Limits

Consider exploring personal loans from online marketplaces like MoneyMutual and ZippyLoan, credit card cash advances, or emergency funds for options with higher borrowing limits than what is available through instant cash advance apps.

Personal Loans

As a cash advance user, it’s essential to be aware of alternative options like personal loans. While cash advance apps offer early access to paycheck funds, they generally have limited borrowing amounts and short repayment terms.

In contrast, online marketplaces like MoneyMutual, VivaLoan, and FundsJoy offer bad credit personal loans with higher borrowing limits and longer repayment terms. ZippyLoan is another platform that connects borrowers with direct lenders offering various loan products and services, including bad credit personal loans, instant cash advances, and no credit check loans.

Credit Card Cash Advances

If you have a credit card, you may be able to get a cash advance from it. Credit card cash advances allow you to borrow against your available credit limit and typically come with higher interest rates than regular purchases.

The amount of the cash advance limit will vary depending on your credit card issuer, but it’s usually a percentage of your overall credit line.

Before using this option, it’s important to understand the terms and repayment requirements associated with credit card cash advances. While they can provide quick access to funds in emergencies, they should generally be avoided unless absolutely necessary due to the high-interest rates and potential for accruing significant debt.

Emergency Funds

As a cash advance user, options are important when you need money in a pinch. One alternative to traditional cash advances is an emergency fund. An emergency fund is simply a set amount of money that you set aside for unexpected expenses like car repairs or medical bills.

An emergency fund can be built by setting aside a portion of each paycheck or using windfalls like tax refunds or bonuses to beef up the account. The benefits of having an emergency fund include not having to rely on expensive cash advance options and providing peace of mind knowing that unexpected expenses are covered without going into debt.

In addition, some online banks offer high-interest savings accounts that can help grow your emergency fund over time without monthly fees or minimum balance requirements – two big advantages compared to traditional brick-and-mortar banks.

Our Takeaway

In conclusion, Chime offers its users two options for accessing cash advances: SpotMe and the Credit Builder Credit Card. The amount of cash advance you can receive from Chime depends on various factors such as your account activity and credit worthiness.

Other cash advance apps like Dave, Varo, and Cleo have different service limits and fees. While these apps offer quick access to paycheck funds without a credit check in most cases, they come with their own set of limitations.

Understanding the terms and fees associated with each app before committing to borrowing funds is essential.

Article Sources & Helpful Links

Here are some helpful links that may help you learn more:

1. Chime Credit Builder – A tool by Chime to help build credit.
2. Chime ATM Locator – Find ATMs that work with Chime.
3. Chime Savings Account – Information about Chime’s savings account.
4. The Bancorp Bank – The bank that provides banking services for Chime.
5. Consumer Financial Protection Bureau – A U.S. government agency dedicated to consumer financial protection.
6. Bank Accounts and Services – Information about bank accounts and services from the Consumer Financial Protection Bureau.
7. Chime Mobile Banking on Apple App Store – Download the Chime app from the Apple App Store.
8. Chime Mobile Banking on Google Play Store – Download the Chime app from the Google Play Store.

Chime Cash Advance Limit (FAQs)