A no-frills subprime card that helps you improve your credit.
finder.com’s rating: 3.8 / 5.0
- Get this card if you want an unsecured card.
- Pick something else if you you don’t want to pay an annual fee or you want a lower APR.
- You’re welcome to apply with average or poor credit.
|Product Name||Indigo® Platinum Mastercard® Credit Card|
|Annual Fee||$75 annual fee for the first year ($99 thereafter)|
|APR (Annual Percentage Rate) for Purchases||23.9% variable|
|Cash Advance Rate||29.9% variable|
|Foreign Transaction Fee||1% of the transaction value|
|Cash Advance Fee||$5 or 5% of the cash advance amount, whichever is greater|
|Interest Free Period||Up to 25 days|
|Late Payment Fee||Up to $38|
|Returned Payment Fee||Up to $38|
|Additional Cardholder Fee||$25|
|Rates & Fees||Rates & Fees|
|Minimum Age||18 years of age|
If you’ve had trouble establishing or improving credit, the Indigo® Platinum Mastercard® Credit Card might be for you. It doesn’t come with the bells and whistles of other cards. Instead, it offers a chance for those with a less-than-stellar credit score to strengthen it through consistent payments on everyday spending. Depending on your credit, you may qualify for a low annual fee.
Strongly consider paying off your monthly balances within the interest-free grace period. The Indigo® Platinum Mastercard® Credit Card comes with a higher-than-average purchase APR, and your APR could balloon indefinitely after even one late payment.
Potential $0 annual fee.
Depending on your credit profile, you could qualify for no annual fee. The higher your credit score, the more likely you’ll receive this benefit.
In a few minutes, you can check if you have a good chance of getting this card. This won’t affect your credit score, as Celtic Bank — the card’s managing bank — will initiate a soft pull on your credit history.
Reports to credit bureaus.
Celtic Bank reports your responsible spending to the three major credit bureaus — Equifax, Experian and TransUnion. This can help you improve your credit score for better rates on mortgages, car loans and other financing.
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1% foreign transaction fee.
It’s not 0%, which would be ideal, but most providers charge a 3% foreign transaction fee..
Access your account through mobile.
You can check on your account on the go through your mobile device. This will help you monitor your spending and use your account responsibly.
Purchase and travel benefits.
When you pay for your car rental with your card, you’ll receive coverage against physical damage and theft. Roadside assistance for peace of mind against car troubles is also provided.
Travel Assistance Services can provide you with help before and during vacation. Get pre-trip planning assistance and find referrals to medical and professional services if you find yourself in a pinch on your trip.
Lastly, you’ll receive extended warranties on eligible items you buy with your card.
No cash advance fees for the first year.
After that, each cash advance comes with a fee of $5 or 5% of the transaction, whichever is greater.
Though you won’t pay cash advance fees the first year, consider avoiding cash advances entirely. They come with a high interest rate, and you won’t enjoy a grace period on them — meaning interest will start accumulating immediately after you make the draw.
What to watch out for
You may be charged an annual fee.
Depending on your credit, you may need to pay an annual fee. You may be charged $59 each year, or $75 for the first year and $99 each year thereafter.
High purchase APR.
You’ll receive a 23.9% variable APR on purchases. This is a high interest rate given the average credit card APR is around 16%. However, it’s not uncommon for subprime unsecured cards to have APRs well above the average rate.
If you make a late payment, Celtic Bank may apply a 29.9% penalty APR to all of your balances. You may be saddled with this rate indefinitely.
High cash advance APR.
Cash advance APRs are often high, but this card has one that’s higher than most products: 29.9% variable.
Consider other cards if …
You don’t want to pay an annual fee.
Unfortunately, you won’t find many subprime unsecured cards with no annual fees. However, you’ll find many secured cards with $0 annual fees.
You want a lower APR.
Subprime unsecured card providers tend to charge high APRs across the board. If you’re willing to go with a secured card, however, you’ll find a few that charge relatively low interest rates.
You’re looking for a secured credit card.
The Secured Card® from Capital One® is a great choice. It has no annual fee, and you may be able to deposit only $49 or $99 and still receive a $200 credit limit. Make your first five monthly payments on time and you’ll receive a higher credit line.
Another fine choice is the Discover it® Secured. Not only does it have no annual fee, it also offer rewards — a rare benefit for a secured card. After eight months, Discover will review your account each month to see if it can return your security deposit while you continue using the card.
If you’re concerned about locking up too much money in your security deposit, consider the DCU Visa® Platinum Secured Credit Card. There’s a $5 minimum deposit, and your total upfront cost could be as low as $15.
What should I know before I apply?
Before applying for the Indigo® Platinum Mastercard® Credit Card, read the card’s terms and conditions. If you’ve decided on the card, check that you are eligible and have the required information.
- You’re at least 18 years old.
- You’re at least 19 years old if you’re a resident of Alabama.
Required documents and information
- Your full name and personal contact information.
- Your email address and phone number.
- Your Social Security number and date of birth.
- In some cases, your bank account information, employment details and annual income.
What credit score do I need?
Celtic Bank doesn’t specify a minimum credit score for this card. However, it offers the product to those who are trying to improve their credit. The higher your credit score, the more likely you’ll be approved.
What do customers say about the Indigo® Platinum Mastercard® Credit Card?
Customers have mixed reviews for the Indigo® Platinum Mastercard® Credit Card. Some cardholders say payments post quickly and the card helped them improve their credit. Others say they’ve received low credit limits, the customer service is confusing and it can be difficult to complete payments.
Celtic Bank isn’t accredited by the Better Business Bureau (BBB). It earns a B rating from the agency. As of this writing, it has 20 customer complaints; however, according to the BBB most of them have been answered or resolved.
How to apply for the Indigo® Platinum Mastercard® Credit Card
- Go to the Indigo Card website and click Pre-qualify now.
- Complete the pre-qualification form with details like your name, address, Social Security number, date of birth and contact information.
- Review your information and submit your form. You’ll typically receive a decision within 60 seconds.
How long will it take to get my Indigo® Platinum Mastercard® Credit Card?
Typically, you’ll receive a decision on your application within 60 seconds. If you’re approved, expect to receive the card within 14 business days.
I got the card. Now what?
This card comes with a high interest rate on all balances. Consider paying off your balances within the grace period to avoid accruing interest.
Late and returned payments come with fees as high as $38. Overlimit transactions also come with fees as high as $38.
Contact customer service.
If you have questions about or issues with your account, contact the number on the back of your credit card. Alternatively, call 1-866-946-9545.
The Indigo® Platinum Mastercard® Credit Card doesn’t come with many benefits. However, it’s an unsecured card that may help you improve your credit if used correctly. As your credit score increases, you may be able to apply for a rewards or balance transfer card.
Frequently asked questions
Credit-building cards and secured card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
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