Indigo Unsecured Mastercard Review
The Indigo Unsecured Mastercard is intended for people who need to build or rebuild their credit. It is an unsecured credit card that you can apply for through a no-frills qualification process.
The Indigo Unsecured Mastercard is a good alternative to secured credit cards usually offered to people with bad credit. You don’t have to put down a cash deposit as collateral. The Indigo Unsecured Mastercard has a pre-approval process that even checks your eligibility without affecting your credit score. Since it reports your usage to all three credit bureaus, this card can have a positive impact on your scores as long as you pay off your monthly balances. However, it has a very low credit limit, high APR rate and no rewards program.
Card Details to Know Up Front
- Bonus, Fee or FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Has Rewarding Welcome Offer
- Credit NeededNone-Poor
Indigo Unsecured Mastercard at a Glance
Getting the Indigo Unsecured Mastercard requires a less complicated application process for people who are just starting out with their credit journey or who are trying to rebuild a bad credit history. But, just like any card with its own drawbacks, you should get the Indigo Unsecured Mastercard only if you have the goal of improving your credit score. The best way to do this is by making on-time payments on your card and paying off your balance each month.
- Indigo Unsecured Mastercard
A good unsecured credit card to build or rebuild credit
- None-PoorCredit Needed
- $0–$99*Annual Fee
- 3# of Reporting Bureaus
Pros & Cons Explained
To help you decide whether the Indigo Unsecured Mastercard is the right card for you, here are some of the pros and cons you should consider.
- No security deposit requiredAs an unsecured credit card, you don’t have to provide a deposit to qualify for this card.
- Has a prequalification processYou can go through a prequalification process to check your eligibility without making a hard inquiry. As a result, it doesn’t affect your credit score to verify that you qualify for the card.
- Reports to all three credit bureausReporting to all three bureaus can help you improve your scores as long as you are a responsible credit card user.
- High annual fee based on your creditworthinessAnnual fees can range from $0 up to $75 in the first year and up to $99 in the following years depending on your creditworthiness.
- Low credit limit capped at $300This card has a very low credit limit with no option to increase it. If you qualify for an annual fee of $99, this automatically gets deducted and lowers your credit limit.
- No rewards programMany card issuers offer rewards programs that could help offset high annual fees. The Indigo Unsecured Mastercard does not have any rewards program.
- High APRThe 23.9% APR is more expensive than most issuers. It also means the APr could cost you a lot if you don’t pay off your balance in full each month.
The Indigo Unsecured Mastercard is not on our list of the best credit cards for people with poor credit. If you need to apply for one but are unable to find a suitable card, MoneyGeek listed the best credit cards for bad credit with better reward programs, lower annual fees and higher credit limits.
Other Features Explained
The Indigo Unsecured Mastercard offers some unique features that might appeal to potential applicants.
- Card FeatureDescription
- Unique card designsYou can choose between a variety of colorful and modern-looking card designs.
- Online account accessCustomers can check their account through their customer online portal.
- Reports to all credit bureausMany insurers report to credit bureaus, but not to all of them do. The Indigo Unsecured Mastercard does report to the credit bureaus, helping you to build your credit.
To ensure you are able to use the Indigo Unsecured Mastercard to build your credit without incurring high interest fees, pay your bill off on time and in full each month. Set a reminder to do this so that you don’t miss any due dates.
Understanding the Fine Print
Knowing the associated fees should be one of the first things you evaluate before applying for a certain credit card.
- Card FeatureAmount or Rate
- Annual Fee$0–$99*
- Balance Transfer FeeUnspecified
- Balance Transfer APRUnspecified
- Late Fees$40.00
Annual Percentage Rate
The APR is the interest you pay on your credit card every year. People with bad credit usually are offered high APRs. The Indigo Unsecured Mastercard has a 24.9% APR, which is higher than average. The more you can improve your credit scores, the higher your odds are that you can qualify for a lower APR.
The Indigo Unsecured Mastercard charges a $0 to $75 fee for the first year, then $99 for subsequent years. This is on the higher side of annual fees.
If you are late making a payment, you’ll be charged $40.
Cash Advance Fee/APR
When you take a cash advance from your Indigo Unsecured Mastercard, you’ll pay $5 or 5% of the transaction cost, whichever is greater. You’ll also pay a 29.9% APR.
Foreign Transaction Fee
When you use your Indigo Unsecured Mastercard, you’ll pay a 1% transaction fee.
When comparing the Indigo Unsecured Mastercard with other cards for bad credit, research whether or not there are better reward offers and cheaper associated fees. If you want to compare the fees like regular APR and cash advance APR to your current card, you can check your latest billing statement. You can also refer to the Consumer Financial Protection Bureau.
Who Should & Shouldn’t Consider Indigo Unsecured Mastercard?
Other Considerations for Indigo Unsecured Mastercard
When applying for a credit card, you should have a plan for how you will use it based on if it’s your first card or an addition to your wallet.
Things to Consider if This Will Be Your First or Only Credit Card
If it’s your first time getting a credit card, the Indigo Unsecured Mastercard allows you to easily apply without hassle. However, you may not be able to use this card to pay large monthly bills due to its limited credit limit.
At the least, you can allocate your credit limit to certain expenses in order to keep it under a healthy credit utilization ratio. Also, remember to pay outstanding balances every month to avoid paying monthly interest.
Things to Consider if This Will Be an Additional Card in Your Wallet
If you plan to use the card as an additional card, its only value would be a small increase on your credit limit that might slightly help your credit score.
In the event you do add this card to your wallet as an additional card, only use it for small purchases and avoid using it for foreign transactions.
MoneyGeek follows a streamlined methodology when ranking different credit cards. We refer to information from the Consumer Finance Protection Bureau’s database, estimated average spend profiles, long-term value and more. We also analyze and rerank cards regularly to ensure our data is up-to-date.
How Indigo Unsecured Mastercard Compares to Other Cards
The Indigo Unsecured Mastercard does not seem to offer much value other than encouraging you to make timely payments using your card. It might be advisable to compare other cards that benefit customers with bad credit or no credit history.
Quick Comparison of Indigo Unsecured Mastercard
Indigo Unsecured Mastercard
- Annual Fee: $0 to $99
- Regular APR: 24.9%
- Cash Advance Fee: $5 or 5%, whichever is higher
- Cash Advance APR: 29.9%
- Credit Limit Increase: N/A
- Foreign Transaction Fee: 1%
- Best For: People rebuilding their credit
Capital One Platinum
- Annual Fee: None
- Regular APR: 26.99%
- Cash Advance Fee: $10 or 3%, whichever is higher
- Cash Advance APR: 26.49%
- Credit Limit Increase: Automatically increases every 6 months
- Foreign Transaction Fee: $0
- Best For: People looking to set up automatic payments on their card
Other Helpful Decision-Making Q&As
Here are some of the common questions about the Indigo Unsecured Mastercard to help you decide whether this is the card you need.
Still not sure about this card? Consider these options.
The Indigo Unsecured Mastercard is not a great option in general, but it could be a good choice for people who are trying to improve their credit scores. However, if you are still unsure about getting this card, there are many other great options even with bad credit or average credit.
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Learn more about credit cards in general
- Indigo Website. "Frequently Asked Questions." Accessed December 18, 2021.
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