The Pros and Cons of the Indigo Mastercard

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The Indigo Platinum Mastercard is specifically for individuals with poor credit.  These individuals are looking for a credit card that will help them rebuild their credit.  The Indigo card is a great option for newbies as well to get started with building a solid credit history.  

The great thing about the Indigo Mastercard is you can check to see if you prequalify for the card at their website.  The site has a prequalification process that does not require checking your credit which could hurt your credit score.

Most individuals that prequalify for an Indigo card will receive an email or letter in the mail.  The mail will notify them that they qualify for a card.  They will then need to use their Indigo apply invitation number to enter onto the website.

Indigo Platinum Mastercard Features

There are a number of features that this card offers individuals.  Here is a list of those features:

Is accepted to over 35 million locations worldwide due to Mastercard logo

Pre-qualification with no impact to your credit score

Previous bad credit or bankruptcies are acceptable to apply

The online application process is fast and easy

Fraud protection for lost or stolen cards

Free online account access 

Indigo Card Disadvantages

The main disadvantage with this card is it does not offer rewards.  For some people this may be a turn off because there are other starter credit cards that offer rewards.  It is understandable to select a card that offers rewards points.

Another disadvantage for cardholders is there is no free credit score check.  This is another feature that many other credit card companies provide to their members free.  

Depending on your credit score you may be asked to pay an annual fee.  Typically the annual fee is $0 for those that qualify.  If you are asked to pay an annual fee then it will be deducted from our credit limit.  The APR is also a fixed 23.90% with a minimum credit limit of $300.

If you happen to have a late fee or penalty fee be prepared to pay up to $38.  This is expensive so you will need to do a great job of managing your credit card account.  These fees can add up quickly and you want to make sure your monthly payments are 100% going to your balance.