Indigo could be the best choice for you if your credit score is not good. The card comes with a low credit limit and an annual fee. This card is great for people with bad credit. Before you sign up, be aware of its downsides.
Prequalification
Indigo's Fast Prqualification service, which is available for people with bad credit, can help you find a new credit card. This service uses a soft credit pull to determine your eligibility for the card. Indigo can deny credit cards to those with lower credit scores than 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. A soft inquiry is made to credit reports when you apply for the card. This inquiry does not affect the score.
Annual fee
The annual fees for the Indigo creditcard range from $0 - $99, depending on how creditworthy you are. 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 for anyone who wants to improve their credit score. Although it is not recommended by the community for credit cards, it can help improve your credit score. You can still show financial responsibility by making regular payments, even though it isn't reported to credit bureaus. Fill out the application and verify your financial information.
Overdraft protection
Indigo credit cards might be a good option if you're looking to get a credit card that is easy to use and has a low fee. Although this card comes with a $300 credit limit and an annual fee, it can quickly add up to that amount. The card does report your credit activity, which can help you improve and protect your credit score.
The Indigo creditcard offers overdraft coverage that allows you borrow up to 10% of your credit limit. Overdraft protection costs $40 and you will also have to pay a 1% foreign transaction charge. A 5% cash advance fee is included on the card. A monthly payment is made to the three credit agencies. The payments are usually reported within a few working days.
Foreign transaction fee
The foreign transaction fee on the Indigo credit card is one percent of each foreign transaction, which is lower than the average three percent foreign transaction fee. The card also charges an annual fee, which varies depending on your credit score. The first year, the annual fee is $75. After that $99. It is unclear if the annual fees will be affected by your credit score. However, they are higher than the average annual cost for new credit cards.
The Indigo mastercard is available with a $300 credit limit. No initial deposit is required. The credit limit can be increased only once. The card allows customers to control their spending habits and manage their credit scores. It reports to all three major credit bureaus, and uploads monthly payment records.
Late payment penalty
If you fail to make your payments on time, the late payment fee for an Indigo credit card could be as high as $40 Standard fees are included with the indigo credit card. The annual fee and foreign transaction fees are additional to the $35 late payment fee. The first year fee is $75, followed by $99 each year. 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 benefits to the Indigo credit card. 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. This card is among the most affordable unsecured credit cards. In fact, several applicants have been approved despite having low credit scores, with scores in the 600s and under. However, those with less credit will need to pay a higher interest-rate and more fees than those of good credit.