It’s designed to offer accessible solutions and opportunities for folks with limited credit options or those starting from scratch to build their credit history. So, buckle up and get ready for this Indigo Platinum Mastercard review that will shed light on how this card can help you on your path to financial stability.
Whether trying to establish a solid credit foundation or improve your overall financial well-being, the Indigo Platinum Mastercard can be your trusted sidekick. We’ll deeply dive into its unique features and advantages that make it stand out in the competitive credit card market.
But before we jump in, let’s first get acquainted with what the Indigo Platinum Mastercard is all about.
What is the Indigo Platinum Mastercard Credit Card?
The Indigo Platinum Mastercard is a credit card specifically designed for individuals in the USA looking to either build or rebuild their credit history. This card comes with a range of features and benefits tailored to cater to those who may have faced challenges with their credit or have limited credit options.
Just so you know, “Indigo” is a registered trademark of Genesis FS Card Services, Inc. The actual Indigo Platinum Mastercard is issued by Celtic Bank, an industrial bank based in Salt Lake City, Utah, and a member of the FDIC.
Indigo Platinum Mastercard Review: How it Works
Getting started with the Indigo Platinum Mastercard is a breeze! To check if you prequalify, simply head to their official website and fill out their online pre-qualification form. It’s super easy!
The form will ask for basic information like your name, address, social security number, and employment details. This helps them confirm who you are and determine your eligibility for the card.
Once you’ve filled out the form, their system will swiftly review your information and give you an initial eligibility assessment that does not impact your credit score. Yep, you can find out if you’re likely to get approved without worrying about your credit.
Now, it’s essential to know that meeting the credit criteria doesn’t guarantee approval. They’ll carefully review your pre-qualification request and application to see if you meet the qualifications for the Indigo Mastercard.
Once approved, your new card will reach you within 14 business days. But, if it is yet to arrive within 21 days, there is no need to stress. You can just give the Lost/Stolen Department a call at 1-800-314-6340. They’ll sort things out for you. Remember, you can only have one Indigo Mastercard account at a time.
If you have any questions or need assistance during the pre-qualification process, don’t worry. The Indigo Platinum Mastercard has a friendly customer service team ready to help.
Features of the Indigo Platinum Mastercard Credit Card
When it comes to the features of the Indigo Platinum Mastercard credit card, a few things make it stand out.
One of its key features is that it is an unsecured credit card. That means no security deposit is required. This differentiates it from secured credit cards that typically require a cash deposit as collateral. By not needing a security deposit, the Indigo Platinum Mastercard allows you to keep your money accessible for other financial needs and provides greater flexibility.
The credit limit is also determined based on factors such as creditworthiness and income, offering the potential for a higher credit line than secured cards. This unsecured feature also enables you to build a credit history without tying up your funds, as your responsible card usage and timely payments can contribute to improving your credit score.
Another notable feature of the Indigo Platinum Mastercard is its easy pre-qualification process. Unlike traditional credit card applications that involve a credit check and potentially lower your credit score, the pre-qualification process of this card does not impact your credit score.
When you provide basic information, you can receive an initial assessment of your eligibility for the card without any negative consequences. This saves you time and effort by offering a quick response, allowing you to make an informed decision before proceeding with a formal application.
The Indigo Platinum Mastercard also stands out with its credit bureau reporting feature. Every month, the card issuer reports your payment activity to the three major credit bureaus: Experian, Equifax, and TransUnion.
This helps establish a credit history which can help improve your credit score. The comprehensive reporting ensures that lenders and creditors accurately represent your creditworthiness, making it advantageous when applying for future loans or credit products.
The Indigo Platinum Mastercard comes equipped with a smart chip for added security. It uses chip-and-PIN technology, which provides an extra layer of protection against fraud. This feature is handy when traveling or using your card in places that prioritize chip-enabled transactions.
Pros and Cons of Indigo Platinum Mastercard
Indigo Platinum Mastercard USA has various pros and cons. They include:
Pros
The Indigo Platinum Mastercard USA offers many incredible benefits to help you with your finances and credit. Here’s a quick rundown of what it brings to the table.
First, it’s called an Indigo Platinum Mastercard card for bad credit for a reason. That’s because it’s specifically designed to cater to individuals with challenging credit histories.
But here’s the thing: it’s not just limited to that! It’s actually a fantastic option for anyone looking to build their credit from scratch or improve their existing credit history.
Here’s the deal: when you use the Indigo Platinum Mastercard responsibly and make your payments on time, it shows lenders that you’re a reliable and creditworthy individual.
And guess what? That can open doors to better loan terms, lower interest rates, and even more credit options in the future.
If you’re serious about building your credit and want a card that can truly make a difference, the Indigo Platinum Mastercard is definitely worth considering. It’s a real game-changer when it comes to taking control of your financial future.
The other benefit is that you don’t need a security deposit to get started. Unlike some other cards, the Indigo Platinum Mastercard keeps your money in your pocket, giving you more financial flexibility. So if you’re short on funds or want easy access to your cash, this card’s got you covered.
Getting pre-qualified for the Indigo Platinum Mastercard is a breeze. You just need to head to their website, fill out the pre-qualification form and find out if you’ll likely be approved. The best part? It won’t impact your credit score. So you can check your eligibility without any negative consequences.
And once you’re approved, you can enjoy the convenience of worldwide acceptance. Being a Mastercard, it’s accepted at millions of places in the USA and around the globe. So whether you’re shopping locally or jet-setting across borders, this card will be your trusty payment companion.
Managing your Indigo Platinum Mastercard is a piece of cake too. They’ve got a user-friendly online system where you can keep track of your transactions, check your balance, make payments, and access other essential account features. It’s all designed to make your financial life a whole lot easier.
Speaking of ease, the card comes with built-in fraud protection. You’re covered with their Mastercard ID Theft Protection™, which keeps a close eye on your personal info and alerts you to any suspicious activity. Plus, the Zero Liability protection ensures that you’re not held responsible for any unauthorized charges made on your card. So you can use it with confidence, knowing you’re protected.
Last but not least, their customer support is top-notch. If you have any questions or need assistance, their friendly team is ready to help. Just call them using this toll-free customer service number: 1-800-353-5920.
Cons
The Indigo Platinum Mastercard has a few things to remember that might not be great. First, if you ever need to take out a cash advance, be ready to pay a fee of 5%, with a minimum of $5.
And that’s not all. The cash advance Annual Percentage Rate (APR) is a whopping 29.9%, so you’ll pay a lot more in interest on top of that initial fee.
Another con is that this card comes with an annual fee. You might be in luck with a $0 annual fee, but depending on your creditworthiness, you could pay an annual fee of $75 in the first year and then $99 in the following years.
Another aspect to keep in mind is the credit limit. With the Indigo Platinum Mastercard, the credit limit starts on the lower side at $300. It’s not the highest limit out there, so if you were hoping for a higher spending capacity, you might need to explore other options.
Another downside is the foreign transaction fee, set at 1%. So, if you use your card for purchases or cash withdrawals outside the country, be aware that those transactions will incur an extra cost. It’s something to remember if you’re a frequent traveler or often make international purchases.
Now, here’s the bummer – the Indigo Platinum Mastercard offers fewer rewards or benefits than some other credit cards. You might be disappointed if you were hoping to earn some cash back or enjoy cool travel perks.
Last but not least, making your payments on time is crucial to avoid late fees. The maximum fee they can charge is $40, so you’ll want to stay on top of your due dates to avoid any extra charges eating into your wallet.
Considering these downsides and the card’s advantages will help you determine if the Indigo Platinum Mastercard is the right fit for your financial needs and preferences.
Eligibility Criteria
To get pre-qualified or approved for this card, there are a few requirements you need to meet:
First and foremost, you must be at least 18 years old and have a valid social security number, a physical address, and a US IP address. You need these basic personal details to verify your identity and ensure you meet the eligibility criteria.
You must also haven’t had a previous Indigo Mastercard account charged off due to delinquency. This requirement ensures that those who have had previous issues with their Indigo Mastercard account are not eligible for a new one.
Additionally, there are additional credit qualification criteria that need to be met. This includes a review of your income and debt to assess your ability to manage credit responsibly. This ensures you have the financial means to make timely payments and handle the card responsibly.
Lastly, there will be identity verification requirements to confirm that you are who you say you are. This is a standard procedure to protect against fraud and ensure the security of your account.
Rates and Fees of Indigo Platinum Mastercard
This Indigo Platinum Mastercard review cannot end without talking about fees. While you might be pleasantly surprised to find a $0 annual fee, it’s worth noting that depending on your creditworthiness, there could be a yearly fee of $75 for the first year, followed by $99 in subsequent years. It’s a bit of a trade-off, but for individuals looking to build their credit or start fresh, this card still holds its appeal.
When it comes to cash advances with the Indigo Platinum Mastercard, there’s a fee you should know about. It’s 5% of the advance amount, with a minimum of $5. So, if you need to take out cash, keep in mind that this fee will be applied.
The cash advance APR (Annual Percentage Rate) for the Indigo Platinum Mastercard stands at 29.9%. This rate is essential because it determines the interest you’ll be charged on cash advances. So, if you take out a cash advance, factor in this APR when managing your finances.
If you plan on using your card for transactions in foreign countries, there’s a foreign transaction fee to be aware of. It’s set at 1% of the transaction amount. This fee applies when you purchase or withdraw cash in a currency other than U.S. dollars. So, if you frequently travel abroad or make international purchases, consider this fee.
Late fees are something to be mindful of as well. With the Indigo Platinum Mastercard, the maximum late fee is $40. It’s essential to make your payments on time to avoid incurring this fee. Remember, late fees not only impact your wallet but can also affect your credit score.
How to Apply for the Indigo Platinum Mastercard Credit Card
- To get started, head over to the official website of the Indigo Platinum Mastercard.
- Click on the pre-qualification form to enter your name, address, social security number, and employment details.
- Once you’ve completed all the necessary information, submit the form.
- The Indigo team will carefully review your pre-qualification request and application to determine if you meet the qualifications for the Indigo Mastercard.
- Your shiny new Indigo Platinum Mastercard will reach you within 14 business days if approved. But don’t worry if it takes a bit longer. If you have yet to receive it within 21 days, simply contact the Lost/Stolen Department at 1-800-314-6340, and they’ll assist you.
Should you have any questions or need assistance during the pre-qualification process, the Indigo Platinum Mastercard’s customer service team is here to help. Just give them a call at 1-800-353-5920. They’re available Monday through Friday, from 6:00 am to 6:00 pm Pacific Time.
Or send correspondence to this address: Genesis FS Card Services | PO Box 4477 Beaverton, OR | 97076-4477. They’ll be there to assist you with billing, account management, or any other concerns you may have.
