Indigo Platinum Mastercard review

Cons

• High Fixed APR (24.90%)
• Potentially high annual fee depending on your credit rating (up to $99, $75 for first year)
• A low credit maximum of $300 can hurt your credit utilization.

Learn more about current map offers

Quick Highlights

• Reward Rate: Not applicable
• Welcome Offer: Not applicable
• Annual Fee: $0 to $99
• Purchase introductory APR: Not applicable
• Introduction to Balance Transfers APR: N/A
• Regular APR: 24.90%

Current Welcome Offers

Unfortunately, the Indigo Credit Card has no sign-up bonus or welcome offer. It also doesn’t offer any rewards or cash-back programs, but getting a rewards card without good credit isn’t always the easiest. However, you will receive a 0% cash advance fee for the first year (5% or 5% of the total transaction amount thereafter, whichever is higher, up to $100).

More benefits for cardholders

There are many important benefits to using the Indigo Platinum Mastercard. That’s great if you have a less than ideal credit score or no credit history at all. While there are no welcome offers or cashback programs, there are some standard features that make it easy to manage your finances.

Soft Credit Train

Whenever you apply for a credit card or other line of credit, you may be subject to a credit check. This check can slightly affect 10% of your credit score for up to two years. As a result, people with bad credit may struggle to get a line of credit, but since Indigo Platinum’s prequalification performs a soft credit pull rather than a hard credit check, your credit score won’t be affected.

Quick and easy application process

The application process for many credit cards is tedious and time-consuming, but the Indigo Platinum Mastercard is one of the easiest to get. With all the basic information ready, you can complete the process online in about a minute. You can apply and get started as long as you’re at least 18 (or 19 in Alabama) and have a valid Social Security number and U.S. physical address and IP address.

Build your credit

Building your credit with this card is easy as it reports your activity to all three major credit reporting agencies (TransUnion, Equifax and Experian). If you act responsibly by paying on time, you can build good credit and earn a credit card with valuable rewards programs and other perks.

Keep in mind that your annual fee drains your small $300 credit limit in the first place, making it difficult to maintain low usage—a major factor in your credit score.

High degree of recognition

The Indigo credit card is a credit card designed for people with poor or no credit history. With its high recognition, it creates an easy and quick way to improve your credit score.

Standard Unfunded Line of Credit

Even without collateral, you can use the Indigo Platinum Mastercard line of credit to make it an unsecured card. This means you don’t have to put your finances as collateral for the card up front.

Prices and Fees

Regular APR 24.90% for Indigo Platinum Mastercard purchases and 29.90% APR for cash advances. Note that in addition to late fees of up to $40, missed payments will increase your interest rate to 29.90% APR.

In the first year, you can experience 0% cash advance fee. After this grace period, you will be charged $5 or 5% of each transaction amount, whichever is greater (but not more than $100). While there is no cash advance fee during your first year of card membership, you will be charged interest from the date of the transaction.

International transaction fees are a 1% fee per transaction, regardless of the currency of purchase. While it’s not a completely free foreign transaction card, it’s a solid rate for a non-travel credit card, as the typical fee for using your card abroad is 3%.

When you apply for this card, you will receive one of three possible annual fees. Annual fees can be $0, $59, or $99, although the third pricing structure is only $75 for the first year. Your creditworthiness ultimately determines the annual fee.

Comparison of Indigo Platinum Mastercard and other credit cards

Indigo Platinum Mastercard has many competitors that offer similar benefits. The two main alternative credit cards are the Capital One Platinum Secured Credit Card and the Discover it® Secured Credit Card.

Indigo Platinum Mastercard and Discover it® Secured Credit Cards

Discover’s security card is probably the best. It requires a minimum security of $200, but you can get a maximum credit limit of $2,500, and more importantly, it’s one of the rare secure cards to earn rewards. Get 2% cash back at gas stations and restaurants (up to $1,000 in purchases per quarter, then 1%) plus 1% on all other purchases. Even better, Discover matches all the cashback you earn in the first 12 months, essentially doubling your rewards in the first year.