Easy pre-qualification process with fast response
Less than perfect credit is okay
Online servicing available 24/7 at no additional cost
Unsecured credit card, no security deposit required
Account history is reported to the three major credit bureaus in the U.S.
August 15, 2022
Who is the Indigo® Mastercard® Credit Card for?
The Indigo® Mastercard® Credit Card is suitable for people with no or poor credit rating but would like to build or rebuild their credit. Even though this card does not provide any reward program, the cardholders are able to emphasize on improving or rebuilding their credit rating. However, the applicants have to be aware of its annual fee with its high APR (regular purchase APR of 24.9% (fixed) and cash advance APR of 29.9% (fixed)).
Although many credit cards offer numerous reward programs to attract more customers, the Indigo Mastercard does not offer any reward program.
Perks and Protections
The Indigo Mastercard reports all cardholders’ monthly spendings and card usage to all three bureaus such as Experian, Equifax, and TransUnion. This feature is helpful for people who would like to have a better credit score. As long as cardholders make their payments on time, they are able to build better credit history and become qualified for better credit cards in the future.
One optional service provided by the Indigo Mastercard is credit protection, which prevents damage in credit for cardholders if they experience hardships, job loss, or hospitalization. With the cost of $1.49 per $100 of one’s cash balance, this protection is able to help one avoid missing payments on credit card bills.
Annual Fee and APRs
The Indigo Mastercard has personalized policies regarding the required annual fee:
cardholders with different credit ratings pay different annual fees. Once the cardholders are approved by the Indigo Mastercard, they will pay one of the following annual fees:
The policy states that the better one’s credit, the lower one’s fee, which provides further incentive for cardholders to improve their credit rating. On the other hand, customers need to be aware of this card’s interest rates, which charge fixed purchase and cash advance APRs of 24.9% and 29.9% respectively.
The Indigo Mastercard is suitable for people who would like to improve their credit score but only have poor or no credit rating. This card provides many perks to not only protect but also improve all cardholders’ credit scores. With all being said, the Indigo Mastercard is a solid option for people during the process of rebuilding their credit scores.