No maintenance fees. Just got discharged from BK7 a few weeks ago and needed to rebuild my credit. However, because the Indigo Card carries a minimum APR of 24.9% (5 basis points above the U.S. average of 19.07%) and starts at a credit limit of only $300, it may not be a perfect fit for everyone. BestCards does not include all card companies or all card offers available in the marketplace. But on the plus side, Capital One will automatically consider you for a higher credit line in as little as six months with on-time monthly payments. It's important to know that, according to the card's terms, the issuer may refuse to authorize or accept any transaction that would cause you to exceed your credit limit, even if you have authorized them to charge you an over-limit fee for doing so. Are you sure you want to rest your choices? Past performance is not indicative of future results. Heres how it compares to the Indigo card: Again, neither of these cards is the best of the bestbut wed choose the Milestone card because of its slightly lower APR and annual fee and the cash back it offers. It would also be imperative to maintain a low balance as credit utilization is a factor in your credit score. If you have a balance remaining on the canceled account, youll still need to make at least the minimum payment every month until the balance is paid off in full. This compensation comes from two main sources. Your initial credit limit is as low as $300, and the annual fee can be as high as $99. for certain targeted offers, including pre-qualified and pre-approved offers (your "CardMatch offers"), as well as display what we estimate your approval odds to be for participating offers (Approval Odds). like most this is the only card that would approve me. Heres how we protect your safety and privacy. But youll have to pay $5 or 5% of the transaction fee when using your Indigo Mastercard to get a cash advance (whichever is higher). In addition to credit cards, Cory finds that jogging, cats, and memes are essential parts of a balanced day. Never thought it would happen so soon. This card doesnt offer points for purchases or exclusive promotions for new cardholders. Annual Fee: $0, $59 or ($75 for the 1st year, then $99 thereafter) APR : 24.9%*V Credit Limit: $300 Requirements at least 550-650 credit score at least 2 trade lines in credit report on-time payments for at least a year (with no recent delinquencies) - this is a major reason why folks get denied this cared Credit got dinged so I am in the rebuilding phase. * See the online application for details about terms and conditions for these offers. yup - credit was trashed and trying to rebuild. After the first year, you will pay interest on the cash advance starting on the transaction date, which can really stretch your credit limit. The card details have not been reviewed or approved by the card issuer. For some new cardholders, the initial annual fee could be as much as $75, increasing to $99 in the years following. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Any unsaved changes will be lost. And this is a role in which these credit cards for bad credit have been successful. And I got an invitation by mail. Your best bet is to pay your balance off in full by either utilizing the website, pay by phone or mailing your check payment early in case of slow processing times. I got this card along with 2 other cards when my credit score was 572. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. The minimum credit limit is $300, and some cardholders report having limits as high as $1,000. However, in order to pay via a debit card, youll want to link your bank account to your Indigo Credit Card, using your routing and account numbersthis makes it easier to pay. Consistently provide up-to-date, reliable market information so you're well-equipped to make confident decisions. You can check out other cards that are a better fit. Some cardholders have noted that their credit score has gone from nonexistent or poor to fair or good in just under a year of having the card. So far, I have had no experiences with customer service. Intro Offer: Unlimited Cashback Match - only from Discover. When an IndigoCard user is approved for an Indigo Platinum Mastercard, they also get a $ 300 line of credit mandatorily. Luckily if you apply through CK it bypasses that I was approved which is as it should since I have a few other rebuilders (CapOne, Walmart, CreditOne). While this card has its niche in the market, there are other cards you may want to consider. Indigo Credit Cards start at $300 and escalate depending on payment history. My credit card line with indigo is $300 I need to raise my line of credit I will take what ever you give me thank you. Hate that they don't offer CL increases though so I probably won't keep them more than a year or two. Not the best card out there but certainly not the worst. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Applicants with bad credit, no credit history, or a previous bankruptcy may prequalify with only a soft credit check. I haven't got the card yet but I think that I am going to either sock drawer it or cancel it. Retrieved March 31, 2023, from https://www.surgecardinfo.com/, Indigo Mastercard Experian CreditMatch. The Indigo Card not only is there any annual fee at www.indigocard.com, but it also avoids a host of other charges that Indigo Platinum Mastercard and most other cards of this type charge, including all those for overseas transactions, late payments by the relevant cardholders. Please call us at 1-800-353-5920 to set a travel alert before you attempt to use your credit card internationally. The over-limit fee is $28 if you were not charged an over-limit fee during any of the prior six billing cycles. As long as you pre-qualify (soft pull), then you simply apply for the real thing. A pre-approval means that a lender has analyzed your credit profile based on existing credit information it holds, offering a product you will likely be approved for. Card: Any Indigo Platinum Mastercard issued by us that you may use to obtain a Cash Advance, make Purchases, or lease goods or services on credit. . That said, the card can be expensive. Cardholders can expect a higher annual fee the lower their starting FICO or VantageScore credit score. You can find her speaking at many venues about family travel, credit cards and travel loyalty programs or using travel rewards to travel at least 100 days a year with her own family. Last step! It Features a Modest Credit Limit. my credit score is 640 i have this card for a year, today they charged 99 dollar annual fee first year was 75 but this company is total scam they rip you off and never increase your credit line Im gonna pay off and cancel the credit card customer service sucks . Best cards are Capitalone and creditone. The Indigo Platinum Mastercard is issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC, and serviced by Genesis FS Card Services, Inc. (NMLS #1549514) 14600 Greenbrier Parkway, Beaverton, OR 97006 The low credit limit could also make it difficult to maintain a low credit utilization, an important factor in your credit score. The Milestone Mastercard features a variable annual fee of between $35 and $99. Whenever you apply for a credit card or any other line of credit, you may be subject to a credit check, which can temporarily lower your credit score and stay on your report for up to two years. Let's see how long before my score edges up to 700. Again, these yearly fees will vary depending on your offer. I have an annual fee; I believe it is about $59. I applied and was actually denied by Credit One so I gave this card a shot and got approved. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. At Bankrate, we have a mission to demystify the credit cards industry regardless or where you are in your journey and make it one you can navigate with confidence. person and may be one indicator to the credit type you are eligible for. Not sure if worth dropping card, for fact it can hurt credit score. When you find your odds, you get: A personalized list of cards ranked by likelihood of approval, Special card offers from top issuers in our network, No credit hits. The secured card led to me getting a capital one quicksilver one. I have made payments consistently, and have paid this credit card off completely twice, and it is still $300. Not only does this card not offer any rewardsyoure still on the hook for paying the annual fee ranging from $79 to $99, and youre stuck with the extremely high 29.9% APR. We use your info to run a soft credit pull which wont impact your credit score. You understand that this is not an application for credit and CardMatch offers and Approval Odds do not guarantee you will be approved for a partner offer. They are not reflective of any card issuer or financial institution and have not been reviewed or approved by these entities unless otherwise noted. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. The Forbes Advisor editorial team is independent and objective. You could be approved for an Indigo Mastercard with a score of 300 to 670 on the FICO scale. Information on WalletHub Answers is provided as is and should not be considered financial, legal or investment advice. Provide credit access to millions of Americans otherwise unserved, Offer the chance to establish, build, or repair credit. Have to say that was a little surprise. They may not charge a monthly fee, but they do charge an annual fee of 99.00. But, they do not offer CLI. Knowing your rent or mortgage payments helps us calculate your debt-to-income ratio (DTI) which is your monthly debt payments divided by your pre-tax monthly income. Should You Pay Off Your Credit Card Debt with a 401k Loan? IndigoCard Login credit limits are only $300 and might be less due to the official charges that are exposed less. You will exit this comparison. While that limit may seem small if you're looking for more spending power, it's on par with most credit cards for bad credit. Try Cap 1, Credit is good got the card when credit was a little low but I had this card for 3 years now and had never got a credit line increase for that I say this card sucks and milestone as well they both the same company when I got them both. And no matter how much the cardholders deposit, it will come back if you have a good payment history or are going to make one. Though with bad credit, it may be best to have a secured or maybe unsecured credit card, where the credit limit is generally as high as the amount you can deposit in the IndigoCard. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. First, even if you don't have a credit history, you can apply for the card. The card offers no rewards, no low intro APR and a maximum credit limit ranging from $300 to $1,000 depending on which version of the card you're approved for. Even those with bankruptcies may be approved for. Home equity is the portion of your home youve paid off. As a card that reports to the three major credit bureaus (TransUnion, Equifax and Experian), it can lead to an improvement or establishment of credit. This can make people with poor credit nervous about applying for a line of credit. I would skip capital one, they're stingy with credit limit increases. Through his thorough card reviews and product comparisons, Nouri strives to demystify personal finance topics and credit card terms and conditions to help readers save money and protect their credit score. For an official account with an annual charge of $ 59, for instance, your credit limit may be $ 241 as of the cardholder estimates installation and maintenance costs for the customer. This lower annual fee is due to the requirement of a security deposit (usually around $200) that acts as collateral for the credit loan and the credit limit. Terms apply to the offers listed on this page. Performance information may have changed since the time of publication. Then youll have to write out the following information: Paying your Indigo credit card via MoneyGram will cost you a few dollars, with the service fee being around $5$11.50 (depending on how much money youre paying). However, credit score alone does not guarantee or imply approval for any Am giving this a 3 star because they approved me where others have not. With no welcome bonus or opportunities to have additional credit extended, this card is only a good option as a starter credit card. The Indigo Credit Card credit limit is $300. While credit builder credit cards arent entirely to thank for the improved credit score of the average American, their role cannot be understated. 1. After regularly featuring his credit card, credit monitoring and identity theft analysis on NextAdvisor.com, he joined the CreditCards.com and Bankrate teams as a staff writer to develop product reviews and comprehensive credit card guides focused on cash back, credit scores and card offers. Did the pre-qual thing and got approved for the unsecured version. Youll also face a late payment fee of up to $40. If and when youre ready to upgrade to a card with a higher credit limit, you can cancel your Indigo Credit Card by calling their customer service line at (866) 946-9545. Like the Milestone Card, Genesis Financial charges the annual fee upon card activation, meaning the starting credit limit runs between $201 and $300. You might want to avoid large cash advances if you have bad credit, despite the 0 percent fee offered for the first year. Glad I now have an "unsecured" card. Indigo Unsecured Mastercard - Prior Bankruptcy is Okay. Just a dollar-for-dollar match. 3. Retrieved March 31, 2023, from https://www.creditkarma.com/reviews/credit-card/single/id/IndigoPlatinum, Indigo Card Pre-Qualify with no Impact to Your Credit Score. They wont raise it even when your score improves. Bankrate.com is an independent, advertising-supported publisher and comparison service. At this time, you cant get a credit limit increase on your Indigo card. So I am a little disappointed in this aspect. If you practice this it won't take long to build your credit!! If you have bad or limited credit history, it may be a good idea to focus on building credit with a single card. So if youre going to apply for the Indigo card, you should know what youre getting intoand only use it to boost your score so you can get your hands on bigger and better credit cards. Written by: lilmama on 2009-09-02. lilmama's review: I saw that this was an easy approval card so I decided to apply. Credit Limit: The maximum amount of credit available to you on your Account. Home Credit Card Advice Milestone Vs. Indigo Card: Read This Before Applying. As a finance manager in the corporate world, he regularly identified and solved problems at the C-suite level. So, whether youre reading an article or a review, you can trust that youre getting credible and dependable information. That is why I am giving this a 3 star. Their annual percentage rate is almost 25% SMH. Both Indigo Mastercard and Milestone Mastercard enjoy popularity among credit-building Americans but which is best? Neither Indigo nor Milestone offers cash back rewards or points. (n.d.). While not everyone can afford to tie up money in a security deposit, Capital Ones minimum deposit is less than the annual fee required by Indigos second and third tiers (and youll get it back eventually). My score was at about 600. financial product. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Instead of focusing on the cards APR, focus on keeping your credit use low and repaying your full balance before the statement period ends. Got this card 9 months after BK. Answer a few quick questions and well show you your top credit card options. So I kept the card never used it! For security reasons, foreign transactions may be declined if you do not notify us before using your credit card outside of the U.S. How to start building credit: 10 easy options. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout lifes financial journey. So I guess this is a blessing in disguise. At Bankrate we strive to help you make smarter financial decisions. Enter your email address to activate your approval odds and get updates about future card offers. If also have to pre-qualify. Therefore exceeding its modest credit limit is going to be expensive, so try avoiding that. (n.d.) Retrieved March 31, 2023, from https://www.complaintsboard.com/indigo-credit-card-indigo-platinum-mastercard-b133006. Like Milestone, Indigo also features a variable annual fee. Because Milestone charges the annual fee immediately, the starting credit limit will vary between $201 and $265. Cons. However, depending on your credit score, you may have to pay a high annual fee. Both the Indigo Card and the Milestone Card offer a quick pre-qualification for potential applicants. And you can qualify even if you've filed for bankruptcy in the past. The Capital One Platinum Secured doesnt charge an annual fee, but compared to other competitors, including the Indigo, the ongoing APR is steep. Maintenance fees . After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer. As a married man and father to 3 boys, he studies and leverages credit card points and miles to make global family travel more than a "once in a lifetime" event. WalletHub Answers is a free service that helps consumers access financial information. Articles on LifeAndMyFinances are written in collaboration with our internal experts, backed by thorough research, scientific literature, and data from government websites and other reliable sources. Learn what benefits youll bag by subscribing to the exclusive FoundersCard. With my Credit One, I got an increase from $300 to $600 after 4 months. When not editing articles for LifeAndMyFinances.com, he enjoys rummaging through paper dictionaries, walking in nature, and making travel plans. If you can qualify for the card and come up with the $200 security deposit, you should skip the Indigo card and go with the Discover it Secured Credit Card instead. No, this card isnt connected to an appbut you can access your information and make payments easily on their website. If you do not meet these criteria, then you should consider credit cards with no credit checks. Otherwise, the over-limit fee is $39. Company Name: Genesis FS Card Services, Receive Code: 4911. Yes, the Indigo Card does offer cash advances. Not only does it not require a credit check to get prequalified, but it also helps build (or rebuild) credit by making regular payments. I kept having problems with them processing my payments. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Merrick Bank's ranges from $0-72 whilst Indigo has 3 tiers, $0, $59, $75 for 1st year, then $99. I got the one with $59 annual fee. All the current cardholders can access your account and pay your bill online with 24/7 access to your IndigoCard Platinum account, you can view your bank statement, check your balance, and pay your bill online. That's what I got and I wish there was an option to apply for a CLI. Take into account that the Indigo Platinum has a $38 over-limit fee. After conquering a fear of flying, Alvin seeks any opportunity to get into the air to explore the world. When creating content, we adhere to high editorial standards to make sure the information presented remains objective. The IndigoCard Login official can provide access to a credit card online and offline transactions to all the cardholders, even if your credit is fair and even bad earlier. (n.d.). The simple fact is that credit repair credit cards, like the Milestone Mastercard, serve a vital role in establishing a positive credit history. Credit score can be better I'm working at it every day can prove it. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. We are committed to being fully transparent with our readers. You instruct Us to do this each time you return to our sites to view product offerings and up to once per month so you can be provided up-to-date results. Answer a few questions and see if youre likely to be approved in less than a minutewith no impact to your credit score. Exxon Mobil credit card review: Is this fuel card legit and how do the gas rewards stack up? For rebuilding or establishing credit, this may not be a big deal but could make big-ticket purchases difficult. Bankrate.com is an independent, advertising-supported comparison service. Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. Boost your business with rewards, perks and more. In a little over a year I went from 415 to 600 by being aggressive with my credit disputes, using self lender and getting as many cards as I could but could only get secured cards. I already got the Cap One Platinum before I got this card. We need the last four digits of your social security number to run a soft credit pull. Reason of me choosing this is the "relatively low annual fee" compared to others. Derek has a Bachelor's degree in Finance and a Master's in Business. Yes, you can use MoneyGram to pay off your Indigo Credit Card at Walmart locations that have a MoneyCenter. "Limits on those cards are notoriously low . Indigo Mastercard for Less than Perfect Credit. But after months of having this card, I still have not gotten any credit increase. Find an expert who knows the market. Use of your Account . Went through foreclosure and some bad credit decisions young. You can get pre-approval without affecting your credit score tooso this is a fast way to see if youll be accepted. Customer service is poor and this was a waste of time and something i will have to take the hit for, told to close my acct. This helps us locate your profile and identify cards that you may qualify for. Advertiser Disclosure BestCards is an independent, Florida-based credit card comparison platform. The credit score trend rose upward during that period, with exceptional growth over the last decade (as seen in the charts above and below). After reading all of the reviews, I see most people get approved for a $300 CL. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Yet another card issued by Utah's Celtic Bank, the Indigo Unsecured Mastercard - Prior Bankruptcy is Okay has a modest credit limit of $300. Stick with the indigo, and go for chase when the annual fee comes back around. Hate the annual fees but from what I gather, this is better than others out there. While there are a few complaints, many users love Indigos customer service and say theyre always friendly. If you have a low credit score or limited credit history, the Indigo Mastercard may be a decent choice. Bankrate.com does not include the entire universe of available financial or credit offers. But with Indigo, you dont need a security depositso the money stays in your pocket. Starting credit limit . Credit 101: A Comprehensive Guide to Building Credit During College. Score was only 600 when I applied. The initial limit of $300 is as high as the company offers. The Indigo Credit Card is a pretty good unsecured credit card for people with bad credit, offering a $300+ credit limit with no security deposit needed. When compared to the Indigo card, which one is better? I have a 586 score and in very good payment history with my other 2 credit cards, car loan and 2 department store cards. Cory is BestCards.com's "Jack of all trades" and resident credit expert, covering all facets of the credit card space. this post may contain references to products from our partners. When it comes to foreign transaction fees, you will incur a 1 percent fee for every international transaction, no matter the currency used in the purchase. While it does come with reporting to the three major credit bureaus, which is a plus, it comes at a cost in the form of a high APR and annual fee structure. 2023 Forbes Media LLC. Once you enter your email and agree to terms: A personalized list of cards ranked by order of approval will appear. Every reasonable effort has been made to maintain accurate information. This shows that Americans have been making better choices with their credit card, despite more cards in circulation. No, the Indigo Mastercard does not offer credit line increases. You have money questions. Chose this card because according to my research, the fees are reasonable compared to others. Before deciding on any credit card, take the time to think about all aspects of the cards under consideration. If you want to keep costs low, it might be worth opting for a secured card over the Indigo Mastercard. Youll get 1% back on all purchases, however, it does charge an annual fee of $39. editorial integrity, Ready to learn more? Many credit cards come with a time-consuming application process, but the Indigo Mastercard is one of the easiest cards to get. Editor, copywriter, and multilingual translator with expertise in producing tailored content for global online brands. This feature makes both cards versatile offers for anyone looking to boost their credit score but afraid they may not qualify due to late payments, bankruptcies, or other negative financial events. In some cases, an unsecured card might offer greater flexibility that can help offset emergencies. Actually got an offer in the mail. Your credit score ultimately determines your annual fee, and Indigo doesnt specify in the cardholder terms whether your annual fee will change as your credit score changes. Low limit with annual fee but it is one of the few unsecured cards that i could get. The amount you can go over your credit limit is not disclosed by the issuer. The reason I chose this card was because others seem to have application fees and a monthly fee on top of an annual fee. Your financial situation is unique and the products and services we review may not be right for your circumstances. Your Credit Limit will be disclosed on your Card Carrier and your monthly Statements. There appears to be lots of complaints about this card especially about the annual fees and how folks were not pre-approved for the unsecured version. But I've read the terms and conditions and everything was as expected - no surprises. Got this after 1.5 years from BK. All Rights Reserved. The Indigo Card is a good fit for a few different types of people. You could face both a high, non-refundable annual fee and high interest rates. Went through the pre-qual and got approved. How the Indigo Mastercard compares vs. other credit building cards, Connect with Garrett Yarbrough on LinkedIn, Get in contact with Garrett Yarbrough via Email. What is the credit limit for the Indigo Mastercard? Editorial and user-generated content is not provided, reviewed or endorsed by any company. So, if you're looking for a card with quick approval and that you can apply for online, you might want to check this one out. By clicking Agree and See Results you acknowledge receipt of our Privacy Notice, Privacy Policy and agree to our Terms of Use. But I guess this card is better than others like Surge and First Premier. Read in-depth credit card reviews to find out which cards have the best perks and more. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. This actual credit available may vary depending on the annual fee, however. This company will continue to charge you $99 per year to have the card and they do not want to budge with lowering the fee over time showing good use of all credit. First off, do credit builder cards like Indigo actually work? Couple of other friends also got approved. I make it a point to send my payment way in advance. The only complaint I have is how slow the credit increases or maybe it doesn't. I already have a couple of secured cards and also a Fingerhut account. But dont worry! The Indigo Credit Card credit limit is $300. I guess fortunately for me, I got approved, but with a low limit of $300. For an account with a $59 annual fee, you might initially get a credit limit of $241 because of maintenance and setup fees. Here is the breakdown of the cards over key credit categories: Applying for a credit card requires a credit check. Here's an explanation for how we make money Choose the best home insurance company for you. If your credit is bad or nonexistent, your only options will often be either to get a secured credit card (for which you need a security deposit equal to the credit limit) or to have someone add you as an authorized user to their credit card. Enter your cell phone number and well send you a link to install the WalletHub app.
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