How Does LendingTree Get Paid?
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How Does LendingTree Get Paid?

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Indigo® Mastercard® Review

Indigo<sup>®</sup> Mastercard<sup>®</sup>

Indigo® Mastercard® Review

Easy Pre-qualification
Quick pre-qualification available with no impact to your credit score*
Custom Card Design
Pick from multiple card designs at no extra charge*
Reports to Credit Bureaus
Account history is reported to the three major credit bureaus in the U.S.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Indigo® Mastercard® best for?

If you have less-than-perfect credit and are looking for ways to improve it, the Indigo® Mastercard® is worth a look. It’s an unsecured credit card, meaning you won’t be required to put down a security deposit, and is available to consumers with good/fair credit. Since secured cards often require minimum deposits of $200 or more, if you can’t tie up a couple hundred dollars, you may find an unsecured card more accessible.

However, once Celtic Bank (the bank that issues this card) reviews your application, it might determine that you have to pay an annual fee ranging from $0 - $99 just to carry the card. If possible, it’s better for your wallet if you can qualify for a no-annual-fee card to work on your credit with. An option such as the Petal® 1 No Annual Fee Visa® Credit Card, which charges a $0 annual fee and is meant for consumers with n/a credit, might be a better option.

And if you’re able to put together money for a deposit, secured cards such as the Capital One Platinum Secured Credit Card or the Discover it® Secured Credit Card are tried-and-true tools for improving your credit.

Indigo® Mastercard® overview

    • Easy pre-qualification process with fast response
    • Don't have perfect credit? No problem!
    • 24/7 access to your account, even on mobile!
    • No security deposit
    • Account history is reported to the three major credit bureaus in the U.S.
  • Credit needed:
    540 719
    Good/Fair
  • Mastercard ID Theft Protection
  • Mastercard Global Service
  • Mastercard Airport Concierge

Intro Purchase APR

N/A

Regular Purchase APR

24.90%

Intro BT APR

N/A

Regular BT APR

24.90%

Annual Fee

$0 - $99

Cash Advance Fee

See terms

Foreign Transaction Fee

See terms

Balance Transfer Fee

N/A

Pros and cons

Pros

  • Check if you’re prequalified
  • Reports to the credit bureaus

Cons

  • You might pay an annual fee
  • This card won’t earn rewards
  • Low $300 credit limit
  • High interest rate
  • Beware of “documentation fees”

What we like about the Indigo® Mastercard®

  • Check if you're prequalified

    If you got a prequalification offer by mail, you can enter your invitation number on this card’s website. If you didn’t get an offer in the mail, you can use the online tool to check if you’re prequalified; this is a soft pull, so it won’t ding your cred

  • Reports to the credit bureaus

    Your account and payment history with the Indigo® Mastercard® will be reported to the three major credit bureaus — Equifax, Experian, and TransUnion. These bureaus each compile a credit report, tracking payment history, account balances and more. Your credit score, generated by scoring models such as FICO and VantageScore, pull from these reports and summarize your credit habits as a three-digit number. In short, using this card responsibly can help you build a good credit score.

What to look out for with the Indigo® Mastercard®

  • You might pay an annual fee

    The Indigo® Mastercard® can charge an annual fee ranging from $0 - $99, depending on your creditworthiness. You could also be approved for this card with a $59 annual fee, or with an annual fee of $75 for the first year and $99 thereafter. The fact that you don’t know upfront whether you’ll have to pay an annual fee — and the wide range of possible annual fees that you could be saddled with — is a significant con to consider when thinking about applying for this card.

  • This card won't earn rewards

    Having to potentially pay an annual fee for a card that doesn’t offer rewards or a sign-up bonus isn’t a great deal. If you have fair/limited credit, you might want to take a look at the Capital One QuicksilverOne Cash Rewards Credit Card, which charges a low $39 annual fee and lets you earn 1.5% cash back on every purchase, every day; 5% cash back on hotels and rental cars booked through capital one travel (terms apply).

  • Low $300 credit limit

    The credit limit for this card is $300. And if your card comes with an annual fee, that will reduce your amount of available credit — for example, if you’re charged an annual fee of $59, your initial available credit will be about $241.

  • High interest rate

    This card’s APR is 24.90%, which is in line with other cards aimed at applicants with less than stellar credit. If you get the Indigo® Mastercard®, you should always pay off what you charge in full each month to avoid interest charges.

  • Beware of "documentation fees"

    If you request a paper statement, be ready to pay a fee of $3 per statement. And if you ask for copies of sales tickets or other items posted to your account, that’s a $10 fee per sales ticket or other item.

Alternate credit-building card

Compare it to the Capital One Platinum Secured Credit Card

| Disclosures
Capital One Platinum Secured Credit Card
Capital One Platinum Secured Credit Card
on Capital One's secure site
N/A
26.99% (Variable)
$0
Non-rewards Card
  • No annual or hidden fees. See if you're approved in seconds
  • Building your credit? Using the Capital One Platinum Secured card responsibly could help
  • Put down a refundable security deposit starting at $49 to get a $200 initial credit line
  • You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
  • Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • Monitor your credit score with CreditWise from Capital One. It's free for everyone
  • Get access to your account 24 hours a day, 7 days a week with online banking to access your account from your desktop or smartphone, with Capital One's mobile app
300 599

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

If you’re looking to rebuild from bad credit, a good card for the job is the Capital One Platinum Secured Credit Card. As one might guess from the card’s name, the Capital One Platinum Secured Credit Card is a secured credit card. This means cardholders are required to put down a security deposit before getting the card. However, there is a $0 annual fee.

With most secured cards, the amount of the deposit becomes your credit limit — for example, a $200 deposit would equal a $200 credit limit. Where the Capital One Platinum Secured Credit Card stands out is that when you apply, Capital One will review your application and decide if your minimum deposit is $49, $99, or $200. You’ll get a credit limit of $200 in any case, no matter which deposit you’re qualified for.

If you don’t want to pay a deposit, the Indigo® Mastercard® might be a better choice. However, if you end up having to pay an annual fee for the Indigo® Mastercard®, it could end up being more expensive in the long run than making a one-time deposit on the Capital One Platinum Secured Credit Card. And if you don’t have enough for your deposit up front, the Capital One Platinum Secured Credit Card allows you to pay it over time, as long as you pay the full amount within 35 days of being approved. Note that all deposits must be at least $20 and in whole dollar increments.

For those who do have $200 available to deposit right away, another excellent secured card to look at is the Discover it® Secured Credit Card. It charges a $0 annual fee and earns 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically.

Compare the Indigo® Mastercard® to similar cards

Comparison of four different credit cards
Indigo<sup>®</sup> Mastercard<sup>®</sup> Capital One Platinum Secured Credit Card Discover it<sup>®</sup> Secured Credit Card Petal<sup>®</sup> 1 No Annual Fee Visa<sup>®</sup> Credit Card
Indigo® Mastercard® Capital One Platinum Secured Credit Card Discover it® Secured Credit Card Petal® 1 No Annual Fee Visa® Credit Card
Apply Now
on Genesis FS Card Services's secure site
Apply Now
on Capital One's secure site
Apply Now
on Discover's secure site
Apply Now
on Petal's secure site
Recommended Credit
Good/Fair Poor/Limited Poor/Limited N/A
Annual Fee
$0 - $99 $0 $0 $0
Regular APR
24.90% 26.99% (Variable) 24.49% Variable APR Variable APR between 22.24% - 31.74%
Rewards Rate
N/A Non-rewards Card 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically Earn 2% to 10% cash back at select merchants
Welcome Offer
N/A No bonus Discover will match all the cash back you’ve earned at the end of your first year. N/A
Card Details
Indigo® Mastercard® Capital One Platinum Secured Credit Card Discover it® Secured Credit Card Petal® 1 No Annual Fee Visa® Credit Card

Is the Indigo® Mastercard® right for you?

If you’re looking for an unsecured card to help rebuild your credit, the Indigo® Mastercard® isn’t a terrible option. But given this card’s unpredictable annual fee, as well as other potential fees, we think most cardholders would be better served by a secured card such as the Capital One Platinum Secured Credit Card or the Discover it® Secured Credit Card.

Apply Now
on Genesis FS Card Services's secure site