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The Indigo® Mastercard® is unavailable on The Ascent. All information was collected independently and not reviewed for accuracy or provided by the credit card issuer. Some items may be out of date.
The Indigo® Mastercard® is an unsecured credit card designed to help you improve your credit. Unlike secured credit cards, this card doesn't require an upfront deposit before you use it. But be warned: the card may still charge an enormous annual fee, which, unlike a security deposit, is nonrefundable. It might help you build credit, but truthfully -- there are better credit cards for bad credit out there. To help you decide if it's right for you, we'll take a closer look at the Indigo® Mastercard® in this in-depth review.
Indigo® Mastercard®
Good (670-850)
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
35.90%
Rewards
N/A
Annual Fee Monthly fee of $0 for the first year, $150 ($12.50/month) thereafter. Annual fee of $175 for the first year, $49 thereafter.
$175 for the first year, $49 thereafter
Welcome Offer
N/A
The card is designed to help you repair credit or build it from scratch. However, it has hidden fees and may not earn rewards for your everyday spending. Even if you don't have great credit, you can find better options.
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
---|---|---|---|---|---|
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Discover will match all the cash back you’ve earned at the end of your first year. N/A | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 17.24% - 28.24% Variable APR |
||
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Up to $300 cash back Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash back Enjoy 5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases |
Intro: 0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular: 20.49% - 29.24% Variable |
Apply Now for Chase Freedom Unlimited®
On Chase's Secure Website. |
|
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
60,000 bonus points Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠. | 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. |
Intro: N/A Purchases: N/A Balance Transfers: N/A Regular: 21.49%-28.49% Variable |
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
In addition to having a really cool credit card design, the Indigo® Mastercard® comes with a few perks worth noting.
Since this is an unsecured credit card, you don't need to put up a security deposit to use it. This could help you if you want to improve your credit, but don't have the $200 to $5,000 deposit that many secured credit cards will require.
You can prequalify for the Indigo® Mastercard® to see if you'll get approved. Better yet, it doesn't affect your credit score and is for your information only.
When you use the Indigo® Mastercard®, your monthly payments will be reported to the three major credit bureaus: Equifax, Experian, and TransUnion. This ensures that your good crediting activities are monitored by the companies making credit reports and will overtime be reflected in your credit score.
Don't be fooled by the card's simple design and pretty colors. For all its talk of helping you build credit, the Indigo® Mastercard® isn't transparent about fees and could end up costing you over the long run. Before you apply, let's try to clear up some of this card's disorder.
Though it doesn't state the annual fee upfront on the card's webpage, you'll find out after you apply how much you might have to pay.
The fee is based on your credit history, with stronger credit scores likely getting lower or even $0 fees. A common fee structure is that you'll pay $75 for the first year, then $99 for each year after. By contrast, many of the best secured credit cards charge no annual fees and will return your security deposit when you close or upgrade the card, as long as you make payments on time.
To make things even more confusing, if your card does have a fee, your line of credit will be temporarily reduced by the same amount until you pay it. For example, if your card has a $75 fee, your $300 credit line would initially be $225.
Some Indigo® Mastercard® cardholders may earn an unlimited 1.5% cash back on purchases. That's not a bad earn rate, but again -- these rewards are likely reserved for those with better credit scores. In contrast, many secured credit cards we've reviewed have more transparent rewards programs and could earn an unlimited 1.5% to 3% back on your everyday purchases.
The will charge you a fee of 1% of each transaction in U.S. dollars for any foreign transactions charged to the card. While some credit cards have foreign transaction fees as high as 3%, many others don't charge the fee at all.
The Indigo® Mastercard® is designed for people who are building or repairing their credit scores, which generally means their FICO® Score falls below 579. That said, a variety of factors will be considered, such as your income and debt, so it's possible you could get denied with a low score -- or even denied with a high one, too.
At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.
Celtic Bank and Concora Credit issue the card.
If you try to prequalify and you're denied, Celtic Bank might recommend another credit card for you. Your credit score will not be affected.
The card is designed to help people with bad credit repair their credit scores. However, given that the card may have an annual fee, it might not be the most economical option for you. If you can afford to put down a security deposit on a secured credit card, you could build your credit and save more over the long run.
Our Credit Cards Experts
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
The Motley Fool owns shares of and recommends Mastercard.