Quick Review
The Indigo® Platinum Mastercard® is an unsecured credit card you can get with less-than-perfect credit. It’s got some advantages, but it’s not exactly the best deal out there.
Below are the main features of the Indigo® Platinum Mastercard® worth considering:
- Credit limits start off very low: Most Indigo® Platinum Mastercard® offers provide a credit line of $500 or less, which is low by most standards. While top applicants could get a credit line of up to $2,000, this could be difficult to achieve—what’s more, this is the highest credit limit you can ever get on the card since credit limit increases aren’t permitted.
- Annual fees vary widely: The Indigo® Platinum Mastercard® can either be free or quite expensive to maintain, depending on your creditworthiness and what offer the card issuer gives you. The best offers get you a $0 annual fee, whereas some offers require you to pay up to $125 per year.
One thing that makes the Indigo® Platinum Mastercard® unique is that there are 20 different credit offers that applicants can receive. Although this may make the card accessible to a wider range of borrowers, it also makes it hard to know whether you’ll get good terms until after you’ve been approved.
Pros & Cons
Who Is the Indigo® Platinum Mastercard® Best For?
With its limited credit lines and potentially high annual fee, the Indigo® Platinum Mastercard® credit card isn’t a particularly good deal. Nevertheless, it might be a suitable card for the following people:
- Young adults who are new to credit: Although you won’t get a substantial starting credit line with the Indigo® Platinum Mastercard®, it could be a decent card to jumpstart your credit history and practice using a credit card responsibly, especially if you qualify for a low or $0 annual fee.
- Credit rebuilders who are strapped for cash: The Indigo® Platinum Mastercard® allows people with troubled credit histories to rebuild credit without putting down a security deposit. However, if you get stuck with the highest annual fee, you’ll be charged $125 your first month, which you could’ve easily put toward a refundable deposit on a secured card instead.
What the Crowd Says
In general, experts and cardholders alike don’t recommend the Indigo® Platinum Mastercard®. While supporters suggest that it’s a solid option for rebuilding credit, most argue that its lackluster benefits simply aren’t worth the potentially high annual fee.
| Publication | Rating |
|---|---|
| Credit Karma (user ratings) | 2.4/5 |
| WalletHub | 3/5 |
| WalletHub (user ratings) | 3.4/5 |
| SuperMoney (user ratings) | 2.7/5 |
| Bankrate | 2.1/5 |
| NerdWallet | Negative |
| Forbes Advisor | Negative |
| NextAdvisor (Time) | 2.3/5 |
| Investopedia | 2.2/5 |
| CreditCards.com | 1.7/5 |
| MoneyGeek | Positive |
| Best Wallet Hacks | 3.9/5 |
| FinanceBuzz | 2/5 |
| LendingTree | 3/5 |
| BestCards | 4/5 |
| Joy Wallet | Negative |
| Aggregate rating: 2.7 |
What Major Publications Say
Many professional reviewers say that although the Indigo® Platinum Mastercard® may be worth considering if you’re all out of other options, it’s really not worth the annual fee—and if you’re fortunate enough to snag the no-fee offer, that probably means you can qualify for a better credit card altogether.
Disappointing Credit Limits
Credit card experts point out that credit limits are relatively low on the Indigo® Platinum Mastercard®, and the card issuer doesn’t offer a clear path to getting a credit line increase. This limits the potential that the card has to increase your credit score and is one area where the card falls short compared to similar credit cards for people with poor credit.
What Cardholders Say
Current cardholders only recommend getting the Indigo® Platinum Mastercard® as a short-term solution for desperate applicants who need an unsecured credit line right now. Even positive reviewers recommend closing the account after just 1 or 2 years, since most people will have outgrown the card by this time and be eligible for a better credit card.
Card Terms Stay the Same
User reviews suggest that the card issuer doesn’t make any effort to retain customers by offering better terms, even after years of responsible credit behavior.
Many competing companies offer credit card graduation programs, upgrades, credit line increases, APR reductions, or annual fee reductions, which give cardholders incentive to keep the account open in the long term. Indigo doesn’t, which means that once your credit improves, you may have to choose between paying for a card that no longer benefits you or taking a credit score hit by closing your account.
Rates & Fees
Fees
- Annual fee: $0–$125 (depending on the offer)
- Foreign transaction fee: 1%
- Cash advance fee: $5 or 5% of the cash advance amount (whichever is greater)
- Late payment fee: Up to $40 or $41 (depending on the offer)
- Returned payment fee: Up to $40 or $41 (depending on the offer)
- Over-the-limit fee: Up to $40 or $41 (depending on the offer)
Interest Rates
- Purchase APR: 24.90% – 29.90% (fixed)
- Penalty APR: None
- APR for cash advances: 29.90% (fixed)
- Minimum interest charge: $1.00
A credit card’s annual percentage rate (APR) is the yearly rate of interest applicable to your credit card.
It’s important to bear in mind that if you don’t pay off the full balance on your Indigo® Platinum Mastercard® credit card each month, any debt left unpaid will begin accumulating interest. You should be even more cautious with cash advances, since they’ll begin accumulating interest on the same day as the transaction.
Rewards
The Indigo® Platinum Mastercard® credit card doesn’t offer any credit card rewards. While many credit cards for credit rebuilding don’t offer rewards, some do.
If you plan on frequently using your new credit card for purchases or you want to use it to save money, consider shopping around for a credit card that offers cashback rewards.
Credit Limit
Credit limits on the Indigo® Platinum Mastercard® range from $300 to $2,000. The exact credit line you’ll be approved for depends on your creditworthiness.
These limits are comparatively low, and you can’t apply for credit limit increases. So if you need a more substantial line of credit, consider cards with higher initial limits or ones that offer credit line increases.
Benefits
An Indigo® Platinum Mastercard® credit card account doesn’t give you many special perks. You’ll really just have access to basic Platinum Mastercard® benefits.
| Benefit | What It Means |
|---|---|
| Fraud and ID theft protection | Protection against identity theft, including lost wallet assistance, TransUnion credit report monitoring for signs of fraud, and dark web monitoring to check for misuse of your personal information. |
| Zero liability protection | Freedom from liability in the event that an unauthorized individual uses your credit card to make a transaction. |
| 24-hour assistance if your card is lost or stolen | Access to an emergency phone number, which you can use to report your card lost or stolen, request emergency card replacement, and access emergency cash advances. |
| Discounted airport meet-and-greet services | 15% savings on Mastercard® airport concierge services. |
Building Credit
Credit Reporting
Your Indigo® Platinum Mastercard® account will be reported to all three of the major US credit bureaus: TransUnion, Experian, and Equifax. Credit reporting is an important part of building credit since your credit report is updated based on the information your lenders provide to the credit bureaus.
Lenders aren’t required by law to report your credit history, and many lenders choose to only report to one or two of the major credit bureaus, if any. Just bear in mind that they can have either positive or negative information added to your credit report. It all comes down to how well you manage your account.
Tips for Building Credit
To establish or rebuild credit with the Indigo® Platinum Mastercard®, you’ll need to take the following steps:
- Pay every credit card bill on time: Your payment history is the most important factor influencing your credit score. Paying all your Indigo® Platinum Mastercard® bills on time will help you establish a strong score and credit history and avoid up to $40 or $41 in late fees.
- Limit your credit card spending: Since the credit limits on the Indigo® Platinum Mastercard® are low, it’s extra important to limit your spending. Your credit score will benefit most if your credit utilization rate (how much of your credit limit you’re using) is under 10%—this means keeping your spending under $30 if you have a $300 credit line.
- Keep your card active: Your card issuer could close your Indigo® Platinum Mastercard® account if you don’t use it at least once every few months. This would hurt your credit score, whereas keeping the account open in the long term will strengthen your credit by building up the length of your credit history.
How to Get the Indigo® Platinum Mastercard®
Credit Score Required
The Indigo® Platinum Mastercard® is available to borrowers with poor credit or limited credit histories, although the actual qualification requirements are not disclosed by Indigo or Celtic Bank.
You can get an Indigo® Platinum Mastercard® credit card by completing the prequalification process online. This won’t impact your credit, and it will help you to decide whether it’s worth getting a hard inquiry on your credit report when the Indigo® Platinum Mastercard® credit card issuer processes your application.
Keep in mind that your credit score and borrowing history will determine which card offer you receive. So even if you qualify for the Indigo® Platinum Mastercard® with bad credit, you’re more likely to get offered a card option with a high annual fee and low credit limit.
How to Apply
To apply for the Indigo® Platinum Mastercard® credit card, start by going online and filling out the prequalification form. You can’t apply over the phone.
When you apply online, you’ll first go through the preapproval process. Next, if you want to proceed, you’ll fill out a formal application. This second application stage will involve a hard credit check.
FAQs
What’s the grace period on the Indigo® Platinum Mastercard®?
The Indigo® Platinum Mastercard® gives you a 25-day grace period (beginning on the first day of the new billing cycle). The grace period allows you time to pay your bills in full without racking up any interest charges.
If you pay your bills in full by the due date, your purchases during the grace period won’t accumulate interest. However, if you carry a balance from previous billing cycles, you’ll have to pay interest on any charges to your card in the grace period.
Does the Indigo® Platinum Mastercard® allow cash advances?
The Indigo® Platinum Mastercard® credit card lets you perform cash advances (taking money out at an ATM using your credit card) at an APR of 29.90% (fixed).
However, you’ll need to pay a cash advance fee of either $5 or 5% of the cash advance amount (whichever amount is greater) for each transaction.
Does the Indigo® Platinum Mastercard® allow balance transfers?
The Indigo® Platinum Mastercard® credit card doesn’t allow balance transfers. Balance transfers involve moving debt from one credit card to another, and they’re often used during debt consolidation.
Many cards that offer balance transfers aren’t available to borrowers with poor or limited credit histories, although there are exceptions.
How do you contact Indigo® Platinum Mastercard® customer service?
If you have further questions about the Indigo® Platinum Mastercard® or you need help with your credit card application, you can contact Indigo customer service by phone at 1 (800) 353-5920.
Alternatively, you can write them a letter at the following address:
Genesis FS Card Services
PO Box 4477
Beaverton
OR 97076-4477
Does the Indigo® Platinum Mastercard® have an app?
The Indigo® Platinum Mastercard® doesn’t have its own app. You also can’t use the Celtic Bank app to manage your Indigo® credit card account, according to the app’s customer reviews.
Although you won’t be able to find an app for the Indigo® Platinum Mastercard® on Google Play or the Apple Store, you can still manage your account online.
