Indigo Unsecured MasterCard: Start Rebuilding Your Credit

Marcy Bialeschki
August 6, 2020

So, you’ve had some credit issues in the past. Maybe you have even declared bankruptcy. Don’t let these scars define who you are financially.

One of the best ways to start healing bruised credit is to use a credit card responsibly. You might be thinking, "How do I get a credit card with bad credit?" Well, not every lender will take a chance, but the Celtic Bank that issues the Indigo MasterCard just might.

Let's take a better look at the Indigo card to see if it's your answer to obtaining a healthy credit score.

Are unsecured or secured credit cards better for rebuilding credit? It depends on a few factors.

Unsecured credit cards are harder to get, so some people do not have a choice but to have a secured card. A secured credit card will often have an annual fee in addition to a security deposit. Your better unsecured cards such as the Indigo MasterCard only has an annual fee and no other automatic charges. In addition, secured cards sometimes do not report to all of the credit bureaus. This fact makes it more difficult to repair your credit.

The Indigo MasterCard is an excellent choice for an unsecured credit rebuilding card. It has a scaled annual fee and no extra hidden charges.

Your annual fee when opening the Indigo MasterCard will be $0, $59, or $75, depending on creditworthiness. This cost is reassessed after the first year and will range between $0 and $99 for all subsequent years. This reassessment means your annual fee could increase after your first year of use.

Even though some people frown at having a secured card, the Discover It Secured credit card is one to consider. Even though you will pay a security deposit you get that money back when you close the account as long as you don't have a balance or other outstanding fees.

The Discover It Secured card has no annual fee and no extra fees. This card also offers rewards, which the Indigo MasterCard does not. While an unsecured card is usually preferred, don't dismiss great credit cards with security deposits such as the Discover It Secured. Secured credit cards might offer features that are better than unsecured cards, making it worth paying a security deposit.

The takeaway here is to do your research.

No doubt, the Indigo MasterCard is one of the top credit cards for people with struggling credit. Here’s why.

Indigo cardholders can start rebuilding credit in as soon as one month because the Indigo MasterCard reports monthly to all three major credit bureaus. The best way to get your credit back on track is to use your card responsibly by making a few purchases and paying your entire balance on time every month.

Prequalification for the Indigo MasterCard is quick and easy. This credit card is made for people with poor credit, even bankruptcy. So, your chances of getting approved are high. Even better -- inquiring about the card through the prequalification process will not harm your credit score.

This card provides 24/7 online and mobile access to your account. You can check your account activity, view transactions, check your balance, and even activate your card online or from the mobile app.

The Indigo MasterCard also offers multiple card designs at no extra cost.

The Indigo MasterCard provides some peace of mind with the following protection and security features:

If unusual activity is discovered on your card, the 24-hour fraud protection sends you alerts.

The Indigo MasterCard has Purchase Protection, providing the cardholder with $0 liability on unauthorized charges.

MasterCard realizes that identity theft can happen to anyone, and it is devastating. Should you incur the difficulties and stresses of identity theft, MasterCard will help you solve the matter and get your life back.

Let's take a look at Indigo MasterCard’s basic features. Notice, other than the annual fee, there are no additional fees automatically attached. However, you will be assessed fees for the following actions: carrying a balance, making an international purchase, going over your limit, and paying late.

Scaled annual fee: $0, $59, $75 the first year. After the first year, your yearly fee is reassessed and will fall in the following range: $0 - $99.

No monthly fee

No “extra” or “one time fees”

$300 credit limit (the initial credit limit will be minus the annual fee)

No balance transfers

Fraud protection (you are never responsible for fraudulent charges)

Free design choice

24.9% purchase APR

$40 max late fee

$40 max over limit fee

29.9% max penalty APR

1% foreign transaction fee

Free cash advance for one year. After the first year, $5 or 5%

While the Indigo MasterCard is a tremendous unsecured card, it's not the only one for people with poor credit. Probably its most significant competition is the Credit One American Express card.

These are three main reasons the Credit One American Express is giving Indigo a run for its money:

$500 credit limit instead of $300

$39 set annual fee

A lower purchase APR -- 25.49%

One downfall of the Credit One American Express card is it might not be as widely accepted as the Indigo Mastercard. The good news is you have options.

Having poor credit does not mean you can’t get a credit card. In fact, having a credit card and using it responsibly is the best way to improve your credit score.

The Indigo MasterCard is a reliable card with no security deposit and no hidden fees. The prequalification process is fast and easy and won't harm your credit score.

So, if you need a credit card, consider the Indigo MasterCard. It might end up being exactly what you need to heal your ailing credit.

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