Indigo® Unsecured Mastercard®

The Indigo Unsecured Mastercard is a great starter credit card that anyone can use to improve their credit or build it from a scratch.

Who Is this Indigo Unsecured Card For?

This Mastercard credit card is perfect for people who can’t afford to or don’t want to pay a deposit for a secured card but still need to find efficient means to boost their creditworthiness. The card is issued by Celtic Bank and serviced by Genesis FS Card Service. When you have two reputable companies such as these ones behind a card, you can rest assured that they live up to everything stated in the Terms of Condition. Unsecured credit cards are valued more than secured credit cards at credit bureaus. This one, in particular, reports to all three major consumer credit bureaus. If you regularly use it and make payments on time, you will be able to build a better credit history and thus increase your credit score.

Indigo Unsecured Mastercard Benefits

While this card offers several advantages, we would like to point out the strongest of its points.

• Unsecured card. Consumer credit bureaus don’t take the signals coming from secured and unsecured credit cardholders the same. If you are using an unsecured card, it will have a stronger impact on your credit score. Since this card is unsecured, you can use it to better position yourself with credit bureaus.
• Regular credit reporting. The Indigo unsecured card will send your purchasing history regularly to all three credit bureaus, which is extremely important, as you’ll be able to improve your standing with all bureaus at the same time.
• Easy pre-qualification. The next advantage is access to the pre-qualification process. Instead of directly applying for the card and risking being denied and your credit score suffering a blow, you can submit a pre-qualification application. The issuer will assess your credit history and income and provide you with a response within a couple of minutes.
• Soft credit inquiry. During the pre-qualification process, the issuer will only make a soft inquiry into your credit history, which will leave no trace, nor will it affect your current credit score.
• Mastercard perks. Besides these advantages, this card comes with other noteworthy perks – price protection, master RoadAssist services, Master rental insurance, and more.
• Low foreign transaction fee. Since it is a Mastercard, you’ll be able to use it around the world and all terminals with Mastercard support. The foreign transaction fee is below the industry standard so that you can make purchases while traveling without wasting too much money on costly fees.
• Made to build a credit score. If you use this card responsibly, you will not only avoid paying interest and fee charges but also improve your credit score and increase your creditworthiness. Ultimately, you will be able to apply for a better credit card and get a desirable line of credit at an affordable cost.

What are the Disadvantages?

When it comes to disadvantages, this card has only a few.

• Variable annual fee. Let’s start with the variable annual fee, which you can’t find that often in credit cards. Yet, this card has one. You won’t know how much your annual fee will be unless your pre-qualification application gets approved.
  High-interest rates. This card’s interest rates are above the industry standard. They kick in if you take your balance to the next billing cycle. Since this is considered a late payment, your account will also be charged a late payment fee.
• No rewards. This card offers no rewards or cash-back bonuses. It should only be considered a low requirement starter card option for people who have no credit history or poor/bad credit score.

Our Final Thoughts

If you, for whatever reason, can’t afford to put down collateral before you can start using a credit card, you should use this card. Yes, the annual fee might be slightly higher from what we see at other issuers but the low requirements, regular reporting to credit bureaus, and Mastercard benefits make up for it.