|❯ Annual Fee: Annual Fee: $0 - $99|
|❯ Purchase Intro APR: One-Time Fees: None|
|❯ Rewards Rate: Monthly Fee: None|
|❯ Transfer Intro APR: Credit Card Grace Period: 25 days|
|❯ Regular APR: Regular APR: 24.9%|
The Indigo Card’s pre-qualification process allows you to see if you’re eligible for approval without actually submitting an application, which would trigger a hard credit inquiry that could temporarily reduce your credit score. Just keep in mind that prequalifying doesn’t mean you’re guaranteed approval.
The Indigo Mastercard is built for people with bad credit and, like all other credit cards, reports to the major credit bureaus each month. So if you pay your bill on time and avoid maxing out your credit limit, it will help you improve your credit score. You can track your progress with WalletHub’s free daily credit-score updates.
Depending on your creditworthiness, the Indigo Mastercard will charge an annual fee of $0, $59, or $75 the first year and $99 after. That’s a big range, so it’s understandable if you want a card with more predictable costs. And if you don’t need an emergency loan, a secured card is definitely the way to go.
The Indigo Credit Card limit is $300. That means you could have as little as $201 to spend initially, depending on the annual fee. And that could make covering emergency expenses kind of tough.
Balances carried from month to month with the Indigo Credit Card will accrue interest at an annual rate that could be above the market averages for secured credit cards and credit cards in general. So you should try to pay off the amounts owed as quickly as possible.