About company
Indigo Mastercard® presents a viable option for individuals seeking to manage their finances and improve their credit standing in the United States. Offering an accessible route for those with less-than-perfect credit histories, Indigo Mastercard provides an opportunity to rebuild credit while enjoying the convenience of a credit card. As an unsecured credit card, it does not require a security deposit, offering financial flexibility to its users.
With Indigo Mastercard, users can make payments wherever Mastercard® is accepted across the U.S., facilitating seamless transactions in various settings. Additionally, the monthly payments are reported to the three major credit bureaus, aiding users in establishing and maintaining a positive credit history. This broad reporting scope enhances the potential for users to demonstrate responsible financial behavior, potentially opening doors to better credit terms in the long run.
Key features
- Accessible Credit Building. Indigo Mastercard offers individuals with challenging credit histories the opportunity to rebuild their credit.
- Unsecured Credit Card. Users can benefit from an unsecured credit card without the need for a security deposit, providing financial flexibility.
- Nationwide Acceptance. Indigo Mastercard can be used wherever Mastercard® is accepted across the United States, ensuring convenient access to goods and services.
- Credit Bureau Reporting. Monthly payments are reported to the three major credit bureaus, aiding users in establishing and maintaining a positive credit history.
- No Balance Transfer Option. Currently, Indigo Mastercard does not offer a balance transfer option for transferring existing balances from other credit cards.
Pros and cons
Pros
Cons
Reliability
The reliability of Indigo Mastercard is underscored by its association with Celtic Bank, a well-established financial institution regulated by federal banking authorities. Issued by Celtic Bank and serviced by Concora Credit Inc., Indigo Mastercard provides users with access to credit-building opportunities and additional benefits such as Mastercard ID Theft Protection™ and Zero Liability protection.
Indigo Mastercard's reliability is bolstered by Concora Credit, the issuer of the card, which holds accreditation from the Better Business Bureau (BBB) with an A- rating. This credential from a reputable organization like the BBB underscores the commitment to high standards and customer satisfaction. As such, users can have confidence in the reliability of the Indigo Mastercard product, backed by Concora Credit's accreditation and track record of maintaining positive customer relations.
Products
Indigo Mastercard®. This is the primary product offered by Indigo. It is an unsecured credit card designed to help individuals with challenging credit histories rebuild their credit. With features such as nationwide acceptance, credit bureau reporting, and additional Mastercard benefits, the Indigo Mastercard provides users with a tool to improve their creditworthiness and financial flexibility.
Other services Indigo offers
- Financial Education Resources. Indigo understands the importance of financial literacy and offers educational resources to help users better understand credit, budgeting, and money management. These resources may include articles, guides, videos, and interactive tools designed to empower users with knowledge and skills to make informed financial decisions.
- Credit Monitoring Services. Indigo may offer credit monitoring services to help users stay informed about changes to their credit reports. This service may include alerts for new accounts opened in the user's name, changes in credit utilization, and inquiries from lenders. By monitoring their credit regularly, users can detect potential fraud or identity theft early and take appropriate action.
- Customer Support. Indigo prioritizes customer service and offers support to users through various channels, including phone, email, and online chat. Trained representatives are available to assist users with inquiries, account management, and resolving any issues or concerns they may encounter.
- Financial Planning Tools. Indigo may provide financial planning tools to help users set and achieve their financial goals. These tools may include budgeting calculators, savings goal trackers, debt repayment planners, and retirement planning resources. By using these tools, users can create personalized financial plans and track their progress over time.
Conditions and requirements
Conditions
- Credit Reporting. Indigo reports users' monthly payments to the three major credit bureaus (Equifax, Experian, and TransUnion), aiding in the establishment and improvement of their credit history.
- Mastercard Benefits. Indigo provides additional benefits to cardholders, including Mastercard ID Theft Protection™ and Zero Liability protection, at no extra charge.
- Cash Advances. Subject to credit approval, users can request cash advances at participating financial institutions using their Indigo Mastercard.
- Nationwide Acceptance. Indigo Mastercard can be used wherever Mastercard® is accepted across the United States, including online, in-store, and through mobile apps.
- Mobile App. With the Indigo Mastercard, users can conveniently pay their bills using the Concora Credit mobile app, ensuring timely payments and avoiding potential negative effects on their credit scores. The app provides a user-friendly interface for managing payments, allowing users to schedule bill payments, track their payment history, and set up automatically paid payments for added convenience. By utilizing this free app, users can stay on top of their finances and avoid any adverse effects on their creditworthiness caused by missed payments.
Requirements
- Eligibility Criteria. Applicants must be at least 18 years old and have a valid social security number, physical address, and a U.S. IP address.
- Credit History. Clients should not have had a previous Indigo Mastercard account that was charged off due to delinquency.
- Income and Debt Review. Applicants' income and debt levels are reviewed as part of the credit qualification process to determine their ability to manage credit responsibly.
- Identity Verification. Identity verification requirements are in place to ensure the security of users' personal information and financial transactions. Applicants may need to provide additional documentation to verify their identity.
Network of ATMs
Indigo Mastercard users have access to a vast network of ATMs across the United States, providing convenient access to cash advances and account management services. While specific ATM locations may vary, users can typically find ATMs affiliated with major banking networks such as Visa, Mastercard, and Plus, offering widespread coverage in urban and rural areas alike. Additionally, users may also utilize ATMs operated by partner financial institutions, expanding their access to cash withdrawal services. With this extensive ATM network, Indigo Mastercard users can enjoy flexibility and convenience in accessing funds whenever and wherever needed.
Apps like Indigo
- Petal Card. The Petal Card stands out as a Visa card tailored for individuals without established credit histories. Unlike traditional secured cards, Petal doesn't require a deposit, offering credit limits ranging from $300 to $10,000 without annual fees. It comes in two versions catering to different credit needs, making it accessible to those looking to establish or build credit responsibly.
- Point Card. Revolutionizing the secured card model, the Point Card allows users to earn points while using it like a regular credit card. It offers a practical solution for individuals starting to build credit, providing rewards for spending without requiring an unsecured credit line. The Point Card empowers users with the opportunity to earn rewards while responsibly managing their credit.
- Jasper Card. Tailored for debt management, the Jasper Card offers a generous credit line of up to $15,000 and considers not only credit history but also bank account activity. This unique approach benefits individuals, such as the self-employed, who may have substantial cash flow but limited credit history. By offering a higher credit line and considering diverse financial factors, the Jasper Card provides a comprehensive solution for managing debt effectively.
- Self Card. Designed for individuals with no credit or those seeking to rebuild their credit, the Self Card offers a straightforward solution for credit building. Users can sign up for the card, automate payments, and track their credit score progress over time. This card is ideal for individuals looking to learn and practice responsible credit habits while minimizing risks, making it a valuable tool for credit improvement with limited exposure.
Editorial opinion
Additional Resources
- Indigo Reviews
