Indigo is a good choice if you're looking for a card for people with bad credit. This card has a low credit limit, and a low annual fee. It also offers some benefits to people with bad credit. You should still be aware that there are downsides to this card before signing up.
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 check to determine your eligibility. 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. 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 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. The annual fee could reduce your spending power, and increase your credit utilization.
If you are looking to improve your credit score, you should avoid the Indigo card. It is not a credit card recommended by the community, but it may help your credit score. It is not reported by credit bureaus but you can still prove your financial responsibility if you make regular payments. The application process requires you to fill out general financial information and verify it.
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. 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.
Overdraft protection on the Indigo credit card allows you to borrow up to ten percent of your credit limit. Overdraft protection is $40, plus a 1% foreign transaction fees. 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 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. A card fee is also charged, which can vary depending on your credit score. The first year's annual fee is $75 and $99 each subsequent years. Although the annual fee may change depending upon your credit score, it is still higher than the average annual charge for new credit card offers.
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. Customers can use the card to manage their spending and improve their credit scores. It reports to all three major credit bureaus, and uploads monthly payment records.
Late payment fee
A late payment fee of up to $40 can be charged on Indigo credit cards if you do not make your payments in time. Standard fees are included with the indigo credit card. There are annual fees as well as foreign transaction fees. The first year fee costs $75. Each year, $99 is added. The fee is not determined based upon your credit score.
The fixed interest rate (APR) is one of the benefits to the Indigo credit card. Late payments won't affect your credit score. This card is among the most affordable unsecured credit cards. Many applicants were approved even though they had low credit scores (600s or less). However, those with lower credit scores will have to pay a higher interest rate and fees than those with good credit.