Indigo Credit Card Review: If you are looking for a credit card even after having a bad credit score, then Indigo Mastercard Credit Card might be the best option for you. The main aim of the company is to improve or build your credit score by encouraging better spending habits. Therefore, My Indigo Credit Card is a financial solution for many. In this article, we are going to discuss about the Indigo credit card review. So, if you are interested in applying for the same, then this review will be very helpful for you. To know key details about Indigo Mastercard, read the following information till the end.
What are the key features of Indigo Mastercard?
Before applying to Indigo Mastercard, the applicants must know some key features of this card. This will help them to know more about how this card works and what advantages you may get after accessing this card. In order to help you out, we are providing you with a list of key features of Indigo Mastercard.
- Indigo Mastercard is an unsecured type of credit card and the company will charge nothing from you at the time you open up your account.
- The cardholders can transfer fees from their Indigo Mastercard to another card without paying any extra fee. There is a 0% balance transfer of Indigo Mastercard Credit Card.
- The Indigo Mastercard purchase APR is fixed at the rate of 24.9 percent. Furthermore, there are also going to be balance transfer fees.
- There is a very low foreign transaction fee with Indigo Platinum Mastercard which will be 1%.
- Indigo Mastercard is quite helpful for cardholders who want to rebuild their credit. In order to do that, they also accept such candidates who have a low credit score and allow a credit limit of $300.
- On the basis of your creditworthiness, the Indigo Mastercard Credit Card will charge a fee of $0, $59, or $75 for the first year. In addition to that, you have to pay a $99 annual fee after the first year.
- The minimum interest charge, cash advance fee, and late/ returned payment fee of Indigo Mastercard are also quite standard. Even though these charges are not very high, but it is still advised to avoid them whenever it is possible.
- This credit card does not include any rewards program as many other credit cards have. You will get some additional benefits, such as an extended warranty and roadside assistance, and a few more.
Why should I get the Indigo Mastercard?
There are many reasons which may attract you to get an Indigo Mastercard. One of the main reasons to get this credit card is that the company also accept the applications of such people who have low to fair credit score. Even if you have a previous bankruptcy and need a credit card, then Indigo Mastercard will be a big help for you.
You can also qualify for their $0 annual fee if you fulfill their policies and requirements. It is not necessary for the cardholders to deposit any large security, however, there might be an initial standard credit limit. Also, your monthly payments will be reported to three credit bureaus which will help you to rebuild your credit. The low credit limit of Indigo Mastercard Credit Card i.e., $300, will help you to limit your spending and your credit score will be improved.
Indigo Mastercard also comes with multiple card designs where you can choose from different card designs. You can access their online site 24/7 through phone or computer. These are high-tech chip cards to provide more secure transactions.
How you can use the Indigo Mastercard?
Using Indigo Mastercard is very easy and quite convenient. The cardholders can make regular charges as well as on-time payments in order to start improving their credit score. You can easily make payment of your monthly balance in full whenever there is a possibility to avoid racking up your interest charges. The cardholders can take advantage of perks like roadside assistance as well as an extended warranty, including a few more benefits.
Indigo Mastercard Advantages & Disadvantages
Here are the advantages and disadvantages of Indigo Mastercard:
- There is a $0 annual fee that is allotted to such cardholders who qualify for this option.
- You can conveniently make your card look attractive for free of cost.
- There is no necessity to deposit while applying for this card.
- There is only a 1 percent foreign transaction fee which is very low as compared to other cards in this category.
- For most of the Indigo Mastercard options, there are high annual fees.
- The credit limit is quite low which is $300.
- You will get no rewards after applying for this credit card.
- The annual fees of the Indigo Mastercard differ on the basis of creditworthiness.
Frequently Asked Questions (FAQ)
Is the Indigo Mastercard Credit Card a good option?
Yes, Indigo Mastercard is a good credit card as compared to many of its competitors. The card is designed in such a way that it will help people to rebuild their credit scores. In addition to that, you don’t have to pay or deposit any fee in order to open up the account.
What credit score is required to qualify for the Indigo Mastercard Credit Card?
One of the best things about Indigo Mastercard Credit Card is that they can sign up for this card even if they have a poor FICO score. Most of the time, people with FICO scores between 300 and 500 can also apply for this card.
Can the Indigo Mastercard be approved instantly?
Most Indigo Mastercard gets instant approval for this credit card even if they have a bad credit score. In addition to that, the customer can also conveniently and easily sign up online.
Indigo Mastercard is a good option for all such people who want to build their credit score. There is no security deposit at the time of the application process. You can pre-qualify for this credit card without affecting your credit score. You can have a unique credit card by selecting its design on your own. Another best thing is that you don’t have to worry about spending as you will get a $0 liability on unauthorized charges. Overall, it is a great credit card, however, you must compare Indigo Mastercard with other options so that you can select what best suits you.