New Chime Prime Card – 5% Secured Credit Card to replace PayPal Debit card?

Here are the details on the new card: https://www.chime.com/online-banking/chime-membership-tiers/

5% CB on a chosen category for no AF is a fairly great proposition. However, as a secured card, your credit limit is directly tied to how much you have in the secured account. Functionally it’s like a debit card: you can only spend as much as what you have in the account.

This means that A) you’ll lose out on potential interest/gains your could have received parking that balance in a HYSA or t-bills, but B) since it’s a credit card, you could potentially do “credit cycling” to get more that the advertised $75 CB maximum (but this has its own risks).