Indigo credit card

With annual fees dependent on creditworthiness, the Indigo® Mastercard® * offers multiple versions of the product. Creditworthiness determines which tier an applicant may be approved for and what the annual fee might be. Annual fees range from $0-$99. The card offers no rewards, no low intro APR and a maximum credit limit ranging from $300 to $1,000 depending on which version of the card you’re approved for. If the terms outlined above don’t scream, “run” please allow us to scream it for you: “RUN!” The color indigo traditionally conveys integrity and sincerity. The Indigo Mastercard conveys the opposite. The card is advertised to help those with low credit but actually could end up being a trap that keeps those with bad habits in financial distress and allows the card issuer to collect high fees and interest. The Indigo Mastercard advertises help to those with bad credit, but contributes to a system that keeps those with low and damaged credit in a vicious cycle of financial hardship. A major factor in the determination of a credit score is the How does one do this when presented with an annual fee as high as $99 on a credit limit of $300? Is it possible? Sure, in a perfect world. But those applying for a $300 line of credit likely need at least $100—they may not have $100 to pay down a balance that frees up another $100. To the folks whose credit has been damaged, there is no perfect world. Note that you may receive an offer for another annual fee through another marketi...

The * is a no-frills credit card targeted toward those with less-than-perfect credit. While this card has its niche in the market, there are other cards you may want to consider. For a quick guide, here are five things you need to know about the Indigo Mastercard, issued by Celtic Bank (Serviced by Genesis FS Card Services). 1. It Has an Easy Application Process The Indigo® Mastercard® * offers a pre-qualification tool to let you know quickly if an approval is likely. Even those with bankruptcies may be approved for this card. Pre-qualifying also doesn’t affect your credit score. If you wish to move forward, you would have to complete a full credit application with a credit check. If approved, the credit limit is set at $300, but fortunately does not require a security deposit. For rebuilding or establishing credit, this may not be a big deal but could make big-ticket purchases difficult. 2. It Can Help Build Credit As a card that reports to the 3. It Has High Fees The Indigo Mastercard comes with a slew of fees, depending on your offer. For some new cardholders, the initial annual fee could be as much as $75, increasing to $99 in the years following. Combine this with an initial credit limit of $300, and you might receive the card with only 75% of your credit limit available to start. On top of all this, it carries a high 24.9% APR, which can be costly if carrying a balance month-to-month. Your best bet is to pay your balance off in full by either utilizing the website,...

Melissa Lambarena is a lead writer on the credit cards team at NerdWallet. She has enthusiastically covered credit card-related topics for over six years. Her prior experience includes nine years as a content creator for several publications and websites. Through her work, she aims to help readers extract value from credit cards to meet financial goals like stretching their budget, building credit, traveling to dream destinations and paying off debt. She explores these topics and others in NerdWallet's monthly credit card tips column and the Millennial Money column featured in The Associated Press. Her work has also appeared in The New York Times, Chicago Tribune, The Washington Post, USA Today and Yahoo Finance, among others. Melissa has a bachelor’s degree in sociology from the University of California, Los Angeles. Kenley Young directs daily credit cards coverage for NerdWallet. Previously, he was a homepage editor and digital content producer for Fox Sports, and before that a front page editor for Yahoo. He has decades of experience in digital and print media, including stints as a copy desk chief, a wire editor and a metro editor for the McClatchy newspaper chain. The card, issued by Utah-based Celtic Bank, comes in a variety of different colors and designs, but don’t let that distract you from its potentially high fees. Depending on the offer you get, it can provide a costly pathway toward building credit. Even for those with poor credit, better options exist. 🤓 Nerd...

The $300. This is a standard starting credit limit for an unsecured credit card for people with bad credit. It's important to note that cardholders may start out with less available credit, since the card's annual fee of $0 - $99 will be charged when the account is opened. What you should know before applying for the Indigo Credit Card: It is worth noting that the issuer does not offer Indigo Credit Card credit limit increases. So, your credit line will remain the same until you close the account. Ultimately, keep in mind that your credit limit will be High APR and annual fee. I only accepted offer because I was excited to get a second chance at building my credit. Paid my annual fee which was I believe $95.00 took them two months to place that payment on my credit reports which brought credit down . It’ll just sit in my wallet with a zero balance. Well it’s been so long that it’s already on my credit report yet I still have not received an actual card in the mail. It’s been 2 months. And I’ve been charged interest already for the 75 dollar start up fee that they took from the card. Because the balance hasn’t been payed off. Because I don’t have it. I’m not going to pay a card off that I haven’t even received yet. You pay $99 annual fee for a $300 limit card that never increases the limit. I don't remember how I got this card. And! they sent 3 cards. I want to close the account, while building credit, it can take you down. Which by the way is not fair on credit bureaus beh...

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In a Nutshell: The Indigo Mastercard is a pretty basic credit building card, offering a standard APR and credit limit with no rewards program. Unless you qualify for a lower annual fee, it’s probably not worth what it costs to own. All information about the Indigo® Mastercard® has been collected independently by CreditCards.com and has not been reviewed by the issuer. Average cost of membership per year ($3,600 annual spend) $91 If you are trying to improve your less than perfect credit, the Indigo Mastercard has a pretty standard APR and credit limit. But the wide range of annual fees and unspecified policy for increasing your credit limit over time rank this card on the lower end of credit building cards. In general, the additional fees aren’t too bad for an unsecured card. You won’t have to pay a set-up or monthly servicing fee. There is no rewards program though, so if you qualify for the highest annual fee the cost of membership is much higher than typical. Great approval odds The Indigo Mastercard is specifically designed for people with less than perfect credit, and it is even available to those with a previous bankruptcy. If you are still worried about qualifying, you can check for pre-qualification on their website in just a couple minutes with no impact to your credit score. If you have bad to fair credit and are eager to improve it, this card is a quick and easy way to get started. Standard credit limit with no security deposit Unlike many cards available to tho...