The card carries a high annual percentage rate (APR) of 29.9%.
This won’t impact your credit score and will reveal certain terms, including the annual fee you’d pay.
You can find out instantly if you qualify with a pre-qualification application. The Indigo Platinum Mastercard is best for someone with less than good credit looking for a traditional credit card that doesn’t require a security deposit. Who is the Indigo Platinum Mastercard for? If you have the funds for a secured credit card deposit, a no-annual-fee secured rewards credit card could be a better option. However, high fees and interest rates could make it a poor choice for someone who qualifies for other credit cards. The Indigo Platinum Mastercard is a traditional credit card available to applicants with bad credit. Here’s a closer look at how the Indigo Platinum Mastercard works so you can decide if it’s the right fit for you. However, low credit limits and potentially high fees make it a poor choice for anyone with good credit or who can qualify for a card with no annual fee and a lower interest rate. If you don’t want a secured credit card and want to build credit, this traditional card may be a reasonable choice. Understand all financial responsibilities (fees, APR, etc.The Indigo Platinum Mastercard is a credit card for people with a spotty credit history looking to rebuild their credit score.Understand why you want the card (to rebuild credit).There is a process every credit card applicant should consider before applying, especially when applying for a card with an annual fee.
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By making credit card usage a regular part of monthly finances, you ensure that the bill is paid in full every month and that you avoid any excessive interest charges. It is best to reserve credit card use for routine purchases budgeted into your monthly finances - for example, gas or groceries. Examples of Using the Indigo Credit Cardīecause the Indigo Platinum Mastercard has a small credit limit, only $300, you will mainly use the card for minor purchases. Be sure to pay your bill on time, and never charge more than you can afford to pay off in a single billing cycle. The Indigo card provides an opportunity to prove your creditworthiness. Most people with lower credit scores know the dangers of overusing credit cards. However, it is crucial to practice responsible use. When Should You Use the Indigo Credit Card?Īs a Mastercard, the Indigo card can be used anywhere Mastercard is accepted. Obviously, if your credit is good enough for a traditional credit card that does not have an annual fee or a limited initial limit, that is probably the better choice. The Indigo Platinum Mastercard is for people with poor credit even those with previous bankruptcy can apply and have a decent chance at approval. Beyond that, as a Mastercard holder, the user gets access to Mastercard Global Services, meaning you can get emergency assistance for cash advances, ATM locations, card replacements, or report a lost or stolen card.
People with lower credit will also appreciate that you can pre-qualify for the card without hurting your score with a hard inquiry. As the card is intended to help establish or re-establish the user’s credit, it is a benefit that Indigo reports to all three credit bureaus. There is no denying that the Indigo Platinum Mastercard has limited benefits, but that does not mean it doesn’t have any. What Are the Features and Benefits of the Indigo Credit Card?
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