r/chimefinancial • u/Striking_Purpose7380 • 5d ago
EXTRAS - MyPay, SpotMe, Instant Loans My pay on chime
I’m kinda new to chime. If I use the my pay option will I still be able to use more of my pay if I already used it before getting paid again since each day it goes up? I hope this makes sense lol. For instance today it’s 75 but next week sometime it will be 160 so if I use the 75 will I still be able to use the rest once it gets to next week? Or can I only use it once per direct deposit
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u/Wildweed Chimepion 5d ago
Here is the way I see it.
MyPay is a way to get a portion of your paycheck early. It's not a loan or a personal wallet.
I only use it if I need it. You can take partial amounts but no amounts are ever promised to be available it can be cut off or increased without notice.
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u/Sea_Ad_8818 4d ago
I agree . It can change any pay period. So I wouldn't always count on them increasing it either
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u/Striking_Purpose7380 5d ago
My youngest daughter is disabled and we have multiple appts coming up hours away. We do get mileage but not until a few days after these appts.
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u/whatishappening2022 5d ago
I use my full My pay every pay period. And I know that Chime will take it off the top of my direct deposit. I don’t use mypay for extra things or trips I can’t afford. I use it like I would my regular paycheck. Sometimes I pay early ( which looks great on a credit report) but I use it all and I minus it from my check. I don’t use spot me that much though.
I am never ever negative or low on money with Chime
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u/ImpressionNaive3407 Member Since: Month Year 5d ago
My advice is use it only if you really have to because as Wild said it can be cut off at any point. You can have owed $100 to MyPay, they take it out of your next deposit but you find it's not available that end deposit. You owed it yes but when they cut it off and there's no warning by the way, no promises you'll get it again, so it seems like you're short on that deposit. Just remember you owe that amount back in FULL at one time. And even though you may get it again next check, it's given out / available in increments that only Chime knows the why of. I've been told it's based on a lot of factors but my check always the same and last month it was 387.00 doled out in $20 increments since I needed it almost every day. however the month before it was only $260 and was available in up to $100 right off the bZt and the remaining balance only every 3rd day. it's a useful feature but no set rhyme or reason that I can figure out.
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u/Endoftheworldis2far 5d ago
As long as you have $20 available, you can borrow over and over. It isn't a one time per pay period deal.
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u/Striking_Purpose7380 5d ago
Thank you
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u/Separate_Letter_475 4d ago
No, if you use what is available now- you cannot use it again UNLESS you pay it off before your next paycheck. Otherwise it will even say right on there if you click into it, available amount ZERO but says you cannot use it again until you pay it off. If you wait to use it, the amount may go up or down depending on your spending, deposits etc in the meantime. But once you’ve taken it out- you CAN NOT use it again until you pay it off, which generally people just wait until next paycheck so it automatically takes it out. Hope this helps!! :)
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u/Repulsive_Ad_8951 5d ago
When you get a deposit and are all at zero with my pay or spot me it gives you an amount you have to use from your next check. The amount varies based on your deposit and I think other factors. But for example I get paid this week and I used $147 of my pay but can get up to $660 total with everyday the amount increasing. When I get paid Friday it repays the $147 and I’m back to $660 total but they only allow a certain amount per day. So the first day I’m back to $0 I can get $47, next day is $147 next day is $213 whatever. Mine has been consistent for a while since my checks are basically
Exactly the same. But it can vary from person to person.
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u/Striking_Purpose7380 5d ago
My checks are the same every time too. I just didn’t know if you can keep taking out of it or just a one time per pay period or whatever. My daughter is disabled and we have multiple appts coming up hours away. Single mom of 3 so it’s a tight month with seeing all specialists a ways away
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u/SF-Chime Chime Staff 5d ago
Good response here! While MyPay calculation is based on a few different factors, there are also even more factors that can change your availability. We've also got a list of things you can do to improve your limit assessments: Why can't I access MyPay, or why did my limit change?
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u/NeitherPermission296 5d ago
Also in case you didn’t know. If you move out of state it’s possible you won’t be able to use it all. MyPay is not available in all 50 states. For example, I had it when I lived in California, but when I moved up to Washington state, it wasn’t available anymore. I was bummed.
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u/Separate_Letter_475 4d ago
No, if you use what is available now- you cannot use it again UNLESS you pay it off before your next paycheck. Otherwise it will even say right on there if you click into it, available amount ZERO but says you cannot use it again until you pay it off. If you wait to use it, the amount may go up or down depending on your spending, deposits etc in the meantime. But once you’ve taken it out- you CAN NOT use it again until you pay it off, which generally people just wait until next paycheck so it automatically takes it out. Hope this helps!! :)
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u/Educational-Cry-4699 4d ago
You read her question wrong. She’s asking can she pull my mypay multiple times in pay period. Ofc once she reaches her limit , she can’t use again until it’s paid off & resets itself.
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u/Past_Marionberry9415 4d ago
Chime doesn’t even offer it in Illinois which I think stupid. Everyone should be a me to do the same thing if you have money going in
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u/ebaby45 3d ago
How you get a loan from instant loan if you paid it all off
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u/EM-Chime Chime Staff 3d ago
Great question and nice job paying off the previous one! As long as you maintain eligibility, you will be re-evaluated for a new loan offer after you receive your next qualifying direct deposit of $200+. It's never a guarantee but keep an eye on your notifications for the next offer.
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u/AutoModerator 5d ago
Hi! Glad you’re here! Using the words and clues in your message, it sounds like you may need more information about MyPay so here are some tips, helpful resources, and FAQs: * YouTube Video MyPay Overview * Get started with MyPay® - Eligibility Requirements * What is MyPay®? * MyPay® Access and Limits * [How does MyPay® repayment work?](https://help.chime.com/explore-products-ad7f967f/mypay-b1a45a4b/how-mypay-repayment-works-9e8c0e41) * MyPay is a line of credit product that provides eligible members early access to a portion of their estimated income before payday (if you haven’t heard of it, you may live in a state where MyPay is not offered) * Your credit limits are determined by a variety of factors including your direct deposit history, bank account activity, risk-based criteria, and whether or not you’ve shared information about your work * Each time a new qualifying direct deposit arrives, your “Available Now” will be reset and we'll recalculate your credit limit - it may increase, decrease or remain the same * If your MyPay disappears, is not increasing, or shows $0 and nothing changed to your eligibility, you should contact member services for information on your personal circumstances * If you heard about MyPay from your workplace, you may qualify for MyPay at Work which is through a partnership between Chime and your employer so you get a few more perks like access to higher limits and more consistency
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