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- Indigo® Mastercard®
A good unsecured credit card to build or rebuild credit
- NoneRewards Rate
- 24.90% VariableAPR
- $0–$99*Annual Fee
- None–PoorRecommended Credit
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.
The Indigo® 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® 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.
Indigo® Mastercard® Overview
- Apply with no, limited or poor creditworthiness
- Pay $0 to $99 as annual fees
- Does not require security deposit
- Reports payment history to TransUnion, Equifax and Experian
- 1% foreign transaction fee
- Zero liability protection
- Mastercard ID theft protection
Important Card Details
Knowing the associated fees should be one of the first things you evaluate before applying for a certain credit card.
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® 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® 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® 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® Mastercard®, you’ll pay a 1% transaction fee.
The Indigo® Mastercard® offers some unique features that might appeal to potential applicants.
- Unique card designs: You can choose between a variety of colorful and modern-looking card designs.
- Online account access: Customers can check their account through their customer online portal.
- Reports to all credit bureaus: Many insurers report to credit bureaus, but not to all of them do. The Indigo® Mastercard® does report to the credit bureaus, helping you to build your credit.
- "Soft Check" Prequalification Process: Each time you apply for a credit card, you are making a “hard” inquiry on a card which could affect your score. With the pre-qualification process that the Indigo unsecured Mastercard offers, the issuer takes a look at your eligibility first using a “soft” inquiry.
How the Indigo® Mastercard® Compares To Other Cards
The Indigo® 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.
How the Indigo® Mastercard® Compares
- 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: 29.94% variable
- Cash Advance Fee: $10 or 3%, whichever is higher
- Cash Advance APR: 30.49% variable
- Credit Limit Increase: Automatically increases every 6 months
- Foreign Transaction Fee: $0
- Best For: People looking to set up automatic payments on their card
Frequently Asked Questions
- Indigo Website. "Frequently Asked Questions." Accessed December 18, 2021.
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