For those with less-than-stellar debt who need a credit card, the Indigo ® Platinum Mastercard ® is one worth taking into consideration. Unlike numerous cards tailored toward consumers with poor debt, this card doesn’t require a security deposit, but expect a reduced credit limit and very few rewards.

Pros Cons
No security deposit required Low credit limit
Approval possible with bad credit Potential for a high annual fee
Get prequalified without a hard credit check No rewards program

You may likewise get on the hook for a steep annual charge with this card. Here’s everything you need to find out about the Indigo Credit Card before you apply.

Indigo® Platinum Mastercard®


Intro APR




Annual Fee

$75 – $99

Card Details
  • Less than perfect credit is okay
  • No security deposit needed
  • Account history is reported to the three major credit bureaus in the U.S.
  • Simple and fast application process
  • Fraud protection for stolen or lost cards
  • Select your own style of card design at no extra charge

If you’re simply starting to develop credit history or trying to rebuild an inadequate credit rating (in the FICO ® Rating ☉ range of 300 to 579), the Indigo ® Platinum Mastercard ® is one to think about. It does not have any type of bells and whistles, however it additionally doesn’t require a down payment, which is what you’ll require if you apply for a safeguarded charge card.

Likewise, the card reports your month-to-month repayments and also balance to all 3 credit reporting firms (Experian, TransUnion and also Equifax), which can help you develop a great credit rating if you make use of the card responsibly.

Depending on your creditworthiness, you could pay an annual fee as high as $99 with this card– a significant drawback thinking about there are a lot of credit cards for those with negative credit history that don’t bill a yearly cost whatsoever. You’ll additionally have a reduced credit line, which can make it testing to restrain your credit scores use rate– the debt you’re utilizing about your limits.

As you take into consideration whether this card is right for you, right here are all the details you require to aid you make your choice.

Prequalify Before Using
One benefit of the Indigo ® Platinum Mastercard ® is its prequalification tool, which allows you to determine your qualification prior to you apply. Prequalifying does not need a tough credit score questions, which can reduce your credit score by a few points. The soft credit check that accompanies prequalification won’t affect your credit history at all.

To prequalify, you’ll simply require to share your name, address, date of birth, Social Security number and also call information. If you do not prequalify, the card’s company, Celtic Financial institution, might recommend a card that you are prequalified for from a companion financial institution, such as the First Development Platinum Elite Mastercard ® Secured Credit Card.

Develop Credit score Across All Your Credit rating Reports
Among the major reasons to take into consideration obtaining the Indigo ® Platinum Mastercard ® over one more credit card is that your repayments will certainly be reported to the 3 major credit scores bureaus each month. By paying all your costs on schedule and maintaining your balance well below your credit line, you can boost your credit report with this card.

Not all bank card for bad credit rating do this– some record to only one or 2 credit bureaus, and also some might not report in any way.

Consider the Low Credit Limit and also Potentially High Yearly Cost
Depending upon your credit report, you might receive one of three yearly fee structures: no annual charge whatsoever, an established cost of $59 per year, or a $75 yearly fee that jumps to $99 after the initial year. If you get no yearly fee, the card gets on par with other leading bank card for bad credit report.

However if you’re paying $75 the very first year and also $99 after that, or perhaps $59 per year, it might deserve getting a secured credit card rather– since you’ll normally a minimum of obtain your down payment cash back at some point with a safeguarded card.

The card’s credit limit is just $300, and there’s no other way to boost that. This means you’ll need to be cautious regarding how you use your card. Your credit score usage price– your balance divided by your credit line– is a major factor in your FICO ® Rating, and also the reduced the price, the much better. Your credit history will certainly start to be injured if your credit report utilization stays above 30%, which means you’ll wish to bring a balance listed below $90 on this card (preferably none in all).

To avoid acquiring a high equilibrium, consider using the card moderately or making several repayments throughout the month. According to the card provider, it can take up to 14 days for your account to show a payment, so keep that in mind as you handle your use.

Lastly, expect to pay a high rates of interest if you lug a balance on this card. The continuous rates of interest is 24.90% fixed, which is above standard. So make it an objective to make use of the card just when you know you can pay it off.

Do Not Expect Several Advantages
When it pertains to card benefits, the Indigo ® Platinum Mastercard ® supplies the bare minimum. You’ll obtain:

Mastercard ID burglary protection, which offers accessibility to identity burglary resolution resources if you succumb fraudulence.
A 15% discount on airport meet-and-greet solutions with the Mastercard flight terminal attendant.
Mastercard worldwide solution, which supplies 24-hour aid if your card is lost or stolen, as well as emergency card replacement and also emergency cash loan.
You can handle your account online, however there’s no mobile app to make it simpler to keep track when you get on the go.

Added Info
Acquisition APR: 24.90% fixedGrace period: 25 days
Transfer APR: The card does not allow equilibrium transfersAnnual fee: $0, $59, or $75 the first year after that $99 afterwards
Cash loan APR: 29.9% fixedBalance transfer cost: The card does not enable balance transfers
Minimum interest fee: $0.50 Cash advance charge: None for the very first year, after that 5% of the advancement amount or $5, whichever is higher
Foreign transaction cost: 1%.
Late settlement fee: Approximately $40.
Returned settlement cost: Approximately $40.
Authorized-User Policy.
If you wish to include a certified customer to your Indigo ® Platinum Mastercard ® account, you can do so at on the house. The licensed individual will certainly get a card with their name on it that’s connected to your account, as well as they can make purchases utilizing your line of credit. You’ll be responsible for paying off the complete equilibrium, including their purchases.

Is This Card Right For You?
The Indigo ® Platinum Mastercard ® can be a good fit if you’re servicing improving your credit score and do not have the cash to cover a down payment. However unless you receive no yearly fee, it may deserve saving up for a deposit and also getting a card that does not charge one or one that uses benefits.

However if you do get a $0 yearly fee with the Indigo ® Platinum Mastercard ®, as well as utilize the card moderately and also sensibly, it can be an excellent device to help you develop your credit scores.