Britt is also considering installment loans, where people can finance purchases in periodic payments.Ĭhime’s growth is strong, but can it build a profitable, sustainable business? Britt claims Chime could be profitable today if it reduced its marketing budget. After that he’ll launch investment services, such as low-fee exchange-traded funds and retirement services, potentially in 2021. He also plans to launch a credit card in the first half of 2020 and eventually move into personal loans.
Chime plans to launch a new, free feature to help users boost their credit scores next year, says CEO Chris Britt, although he declined to provide details.
