Indigo credit cards are great for those with poor credit. The card comes with a low credit limit and an annual fee. This card is great for people with bad credit. You should still be aware that there are downsides to this card before signing up.
Prequalification
If you are looking for a new credit card, Indigo's Fast Prequalification service is a great option for people with bad credit. This service uses soft credit to determine your eligibility for the card. Indigo may not be able to approve you for a credit card if your credit score is below 650.
The Indigo credit card was not designed for responsible consumers. However, it may not be possible to use it for daily purchases. However, the prequalification process is quick and online, and requires just a small amount of information. Your credit report will be softly questioned when you submit your card application. The inquiry will not affect your credit score.
Annual fee
The annual fee for Indigo Credit Card ranges from $0 up to $99 depending on credit scores. This card is recommended for people with good credit and no history or late payments. Be aware, however, that the annual fee can reduce your spending power and increase credit utilization.
The Indigo card is not recommended if you want to improve your credit score. It is not a credit card recommended by the community, but it may help your credit score. While it is not reported to credit bureaus, you will still be able to prove that you are financially responsible if you make regular payments. It is necessary to submit general financial information.
Overdraft protection
Indigo credit cards are a good choice for anyone looking for an easy to use credit card that charges a low annual fee. The annual fee of this card can quickly exceed $300, however it offers a credit limit of $300. The card reports your credit activity to all three major credit bureaus. This can help you improve credit scores.
The Indigo creditcard offers overdraft coverage that allows you borrow up to 10% of your credit limit. Overdraft protection fees are $40 per person. Foreign transaction fees of 1% will apply. The card also has a 5% cash advance fee. The card also has a 5% cash advance charge. Payments are sent to the three credit bureaus once a month. They will be reported within days.
Foreign transaction fee
The Indigo credit cards have a one percent foreign transaction charge. This fee is lower than the usual three percent fee. An annual fee is charged for the card, which will vary depending on your credit rating. The first year's annual fee is $75 and $99 each subsequent years. The annual fee is subject to change depending on credit scores. However, it is usually higher than the average annual fee for new credit cards.
The Indigo mastercard starts out with a credit limit of $300 and requires no initial deposit. The credit limit can only be increased once, so a large credit limit is not possible. The card allows customers to control their spending habits and manage their credit scores. It reports to the three major credit bureaus and uploads payment records every month.
Late payment penalty
An Indigo credit card's late payment fee can reach up to $40 if payments are not made on time. The indigo card comes with standard fees. Along with a $35 late payment charge, there are also annual fees. First year fees are $75 and $99 respectively. It is not clear if these fees will be charged based on credit scores or not.
The fixed interest rate (APR), is one of the many advantages of the Indigo credit cards. The fixed interest rate (APR) means that you won't have to pay late fees. This will ensure that your credit score doesn't suffer. Compared to other unsecured credit cards, this card is one of the most affordable. Many applicants have been approved, even though they have low credit scores. However, those with lower credit scores will have to pay a higher interest rate and fees than those with good credit.