Learn how to apply for the Indigo Platinum Mastercard
Subtitle: Need to improve or establish credit? The Indigo Platinum Mastercard serves as a financial resource for individuals with low credit scores, helping them to build or rebuild their credit history.
The Indigo Platinum Mastercard: A Credit-building Tool
The Indigo Platinum Mastercard is a financial tool designed for individuals looking to build or rebuild their credit. It is specifically tailored for those with less-than-perfect credit.
One of the key advantages of the Indigo Platinum Mastercard is that making regular, on-time monthly payments can demonstrate financial responsibility, which many lenders consider when assessing creditworthiness.
Furthermore, payment history with the Indigo Mastercard is reported to all three major credit bureaus. By consistently making on-time payments, you can establish a positive payment record and potentially qualify for better rates on mortgages, car loans, and other forms of credit.
Unlike secured credit cards, the Indigo Mastercard is unsecured, meaning it does not require a security deposit or collateral for your credit line. This makes it accessible to individuals who may not have the means to provide a deposit.
Managing your Indigo Platinum Mastercard is made easy through the online portal. Once approved and in possession of your new credit card, you can create a login and password on Indigo’s secure site. This online account allows you to manage your account and conveniently pay your bill.
Another notable feature of the Indigo Platinum Mastercard is the peace of mind it offers in the event of a lost or stolen card. If unauthorized charges are made, you may not be held responsible for those charges.
Additionally, the Indigo Platinum Mastercard allows for cash advances at participating financial institutions. After approval, you can request a personal identification number (PIN) to securely access cash at many ATMs.
Eligibility for the Indigo Platinum Mastercard
The Indigo Mastercard is available to anyone interested in establishing or rebuilding their credit. To be pre-qualified or approved, you must meet the following criteria:
- Be at least 18 years old (19 in AL)
- Have a valid social security number, physical address, and a US IP address
- Not have had an Indigo Mastercard Account charged off due to delinquency
- Meet additional credit qualification criteria, including income and debt review, as well as identity verification requirements
The Indigo Platinum Mastercard is designed for applicants with poor credit, typically defined as having a credit score between 300 and 579 according to Experian, one of the three major credit bureaus.
How to Apply for the Indigo Platinum Mastercard
If you’re interested in applying for the Indigo Platinum Mastercard, begin by checking if you’re pre-qualified on the Indigo website. Fill out the quick pre-qualification form and receive results within minutes. Please note that there is currently no option to apply by phone.
Is the Indigo Platinum Mastercard Worth It?
The Indigo Platinum Mastercard provides the opportunity to establish a consistent payment record while enjoying the convenience of a credit card. However, it’s essential to consider its limitations.
The Indigo Platinum Mastercard has a low, fixed credit limit of $300, with no disclosed process for increasing it. This makes it better suited for individuals focused on building credit rather than those looking to make significant purchases.
Indigo Platinum Mastercard vs Premier Bankcard Mastercard
The Premier Bankcard Mastercard is another credit-building option similar to the Indigo Platinum Mastercard. It also reports to all three major credit bureaus, allowing you to improve your credit history.
A notable feature of the Premier Bankcard Mastercard is the possibility of increasing your credit limit after 12 months of consistently making payments. This can be advantageous for those seeking a higher credit limit over time.
If you are unable to get approved for the Indigo Platinum Mastercard, applying for the Premier Bankcard Mastercard could be an alternative worth considering. The Premier Bankcard Mastercard has a high probability of approval.
Benefits of the Indigo Platinum Mastercard
- Card activity reported to credit agencies
- No security deposit required
- $0 annual fee option for qualifying individuals
- 1% foreign transaction fee (lower than average for similar cards)
- Easy to qualify
Benefits of the Premier Bankcard Mastercard
- Card activity reported to credit agencies
- Free FICO score access
- High probability of being approved
How to Apply for the Premier Bankcard Mastercard
If you’d like to learn more about the Premier Bankcard Mastercard as an alternative credit-building option, follow the application process outlined on their website.
