Indigo Credit Card: The Indigo Credit Card is designed primarily for individuals looking to build or rebuild their credit history. It’s an excellent choice for those who may have faced credit issues in the past and need a second chance at improving their credit score.
Key Features and Benefits:
- No Security Deposit Required: Unlike secured credit cards, it does not require an upfront deposit.
- Reports to All Three Credit Bureaus: Ensures your payment history is reflected in your credit report.
- Pre-Qualification Without Impacting Credit Score: Allows applicants to check eligibility without a hard inquiry.
- Accessible for Low Credit Scores: Approval chances are high even for those with poor credit history.
- Mastercard Benefits: Offers fraud protection and is accepted worldwide.
The Indigo Credit Card provides a pathway to better credit while offering convenience and flexibility.
Eligibility Criteria for Indigo Credit Card
Before applying, it’s essential to understand the eligibility requirements:
Age and Income Requirements
- Minimum Age: Applicants must be at least 18 years old.
- Income Proof: A stable income source is required to prove repayment capability.
Credit Score Requirements
- Flexible Credit Requirements: Suitable for those with fair to bad credit (scores below 670).
- No Credit History Needed: First-time credit users can also apply.
Employment and Residency Criteria
- Residency Status: Must be a legal U.S. resident with a valid Social Security Number.
- Employment Verification: Employment status or financial stability must be disclosed.
Meeting these criteria increases approval chances significantly.
Types of Indigo Credit Cards
1. Indigo Platinum Mastercard®
- Ideal for people rebuilding credit.
- Comes with low credit limits but no security deposits.
2. Indigo® Mastercard® for Bad Credit
- Specifically designed for those with poor or limited credit histories.
- Higher acceptance rate for low-credit applicants.
Each card type caters to different financial needs, making it easier to find a suitable option.
How to Apply for an Indigo Credit Card Online
Applying online is the fastest and most convenient method.
Step-by-Step Application Process:
- Visit the Official Website: Go to the Indigo Credit Card website.
- Pre-Qualification Check: Fill out the pre-qualification form to check eligibility without affecting your credit score.
- Complete the Application Form: Provide personal details such as:
- Full Name
- Date of Birth
- Social Security Number
- Employment and Income Information
- Submit the Application: Review the details and submit the form.
Documents Required:
- Valid ID Proof (Driver’s License, Passport)
- Proof of Income (Pay Stubs or Tax Returns)
- Social Security Number
The application process usually takes 1-2 business days, and applicants receive updates via email.
Applying for Indigo Credit Card via Mobile App
You can also apply through the Indigo mobile app, which makes the process even more seamless.
Steps for Application:
- Download the App: Available on both iOS and Android platforms.
- Create an Account: Register with personal and financial information.
- Fill Out the Application Form: Enter the required details and submit them securely.
- Track Your Status: Use the app to monitor your application status and manage your account after approval.
Benefits of the Mobile App:
- Real-time application tracking.
- Easy access to billing statements and payment options.
- Secure payment gateway integration.
Applying for Indigo Credit Card by Phone or Mail
For those who prefer offline methods, Indigo Credit Card applications can be submitted by:
Phone Application:
- Call 1-800-353-5920 for customer service assistance.
- Provide the necessary details over the call and complete the process.
Mail Application:
- Request a paper application by phone or download it online.
- Fill out the form and mail it to the address provided.
While slower than online methods, these options are helpful for non-tech-savvy individuals.
Pre-Qualification Process for Indigo Credit Card
One of the highlights of Indigo Credit Card is its pre-qualification feature.
Benefits:
- No Impact on Credit Score: Uses a soft inquiry to determine eligibility.
- Quick Results: Provides immediate feedback on eligibility.
How to Check Pre-Qualification:
- Visit the Indigo website and click on “See If You’re Pre-Qualified”.
- Fill out the form and receive results within minutes.
This step helps applicants avoid unnecessary hard inquiries.
Understanding Indigo Credit Card Fees and Charges
Before applying, it’s important to understand the costs associated with the Indigo Credit Card.
Annual Fees
- The annual fee ranges from $0 to $99, depending on your creditworthiness.
- Higher fees may apply to those with lower credit scores.
Interest Rates (APR)
- Standard APR: Approximately 24.9% for purchases, which is relatively high.
- Late payments can increase penalty rates, so timely payments are crucial.
Other Charges
- Late Payment Fee: Up to $40 for late payments.
- Foreign Transaction Fee: Around 1%-3% for international purchases.
- Cash Advance Fee: $5 or 5% of the cash advance amount, whichever is greater.
Key Tip:
Always read the terms and conditions before applying to avoid unexpected charges.
Tips for Increasing Approval Chances
Getting approved for an Indigo Credit Card can be easier if you take the following steps:
1. Improve Your Credit Score
- Pay off any existing debts or outstanding bills.
- Check your credit report for errors and dispute inaccuracies.
- Avoid applying for multiple credit cards at once, as this can lower your score.
2. Provide Accurate Information
- Fill out the application form carefully.
- Ensure your income and employment details are correct.
3. Maintain a Stable Income Source
- Show proof of a steady income to convince lenders of your repayment ability.
4. Use the Pre-Qualification Tool
- Take advantage of the soft inquiry tool to avoid unnecessary hard checks.
Taking these steps can significantly improve your approval odds.
What to Expect After Submitting the Application
After submitting your Indigo Credit Card application, here’s what happens:
Processing Time
- Most applications are processed within 1-2 business days.
- You may receive instant approval in some cases.
Approval Notification
- If approved, you’ll get an email with further instructions.
- Physical cards are usually mailed within 7-10 business days.
Rejection Notification
- If denied, you’ll receive a letter explaining the reasons.
- Use this information to address weaknesses and reapply later.
Keep an eye on your email and phone notifications during this period.
Activating Your Indigo Credit Card
Once you receive your Indigo Credit Card, activating it is quick and easy.
Online Activation Steps:
- Visit the Indigo Card website.
- Log in using your registered account.
- Enter your card details (card number, expiry date, and CVV).
- Confirm activation.
Phone Activation Steps:
- Call the customer service number printed on the card.
- Provide the required details to the representative.
- Follow the prompts to complete activation.
Pro Tip: Once activated, set up automatic payments to avoid missing due dates.
Managing Your Indigo Credit Card Account
Indigo offers multiple ways to manage your credit card effectively.
1. Online Portal Access
- Log in to the Indigo website to view your balance, transaction history, and statements.
- Make payments or set reminders for due dates.
2. Mobile App Features
- Monitor spending in real-time.
- Receive notifications about upcoming payments and offers.
- Freeze or block the card instantly in case of theft.
3. Customer Support Services
- Call 1-800-353-5920 for assistance with billing or disputes.
- Email or chat support is also available.
These tools make managing your Indigo Credit Card simple and convenient.
Common Reasons for Indigo Credit Card Rejection
Even though the Indigo Credit Card targets those with bad credit, applications can still be denied.
1. Low Credit Score
- Applicants with extremely poor credit (below 300) may be rejected.
2. High Debt-to-Income Ratio
- A high level of debt compared to income raises red flags.
3. Incomplete or Incorrect Information
- Missing details or errors in the application can cause delays or rejections.
4. Recent Bankruptcy
- Applicants with recent bankruptcies may face challenges.
Pro Tip: Always double-check your application for accuracy before submission.
Pros and Cons of Indigo Credit Card
Pros:
- No Security Deposit: Ideal for those who cannot afford upfront collateral.
- Credit-Building Potential: Reports payments to all three major credit bureaus.
- Easy Approval Process: Designed for poor or limited credit histories.
- Fraud Protection: Offers zero liability for unauthorized transactions.
Cons:
- High Fees: Annual fees and APR can be costly for long-term use.
- Low Credit Limit: Typically capped at $300-$500, which may not suit everyone’s needs.
- Limited Rewards: Lacks cashback or rewards programs.
Bottom Line: The Indigo Credit Card is great for rebuilding credit, but you should be mindful of the fees.
FAQs about Indigo Credit Card
1. What is the Indigo Credit Card?
The Indigo Credit Card is a credit-building card designed for individuals with limited or less-than-perfect credit. It offers an opportunity to improve credit scores with responsible usage.
2. How do I apply for the Indigo Credit Card?
You can apply for the Indigo Credit Card online by visiting the official Indigo website. Simply fill out the pre-qualification form to see if you are eligible without affecting your credit score.
3. Does the Indigo Credit Card require a security deposit?
No, the Indigo Credit Card is an unsecured credit card, meaning no security deposit is required to open an account.
4. What credit score is needed for the Indigo Credit Card?
The Indigo Credit Card is designed for people with poor or fair credit, so it does not require a high credit score to qualify.
5. What are the fees associated with the Indigo Credit Card?
The Indigo Credit Card may charge an annual fee, which varies based on your creditworthiness. Be sure to read the terms and conditions before applying.
6. Does the Indigo Credit Card report to credit bureaus?
Yes, the Indigo Credit Card reports to all three major credit bureaus—Equifax, Experian, and TransUnion—helping users build or rebuild their credit history.
7. Can I use the Indigo Credit Card anywhere?
Yes, the Indigo Credit Card is a Mastercard and can be used anywhere Mastercard is accepted, both online and in-store.
8. How do I make payments on my Indigo Credit Card?
Payments can be made online through the Indigo account portal, by phone, or via mail. Online payments are typically the fastest and most convenient option.
9. Is there a mobile app for managing my Indigo Credit Card?
No, Indigo does not currently have a mobile app, but you can manage your account through their mobile-friendly website.
10. How can I contact Indigo Credit Card customer service?
You can contact Indigo Credit Card customer service by calling the number listed on the back of your card or visiting their official website for support options.
Conclusion
Applying for an Indigo Credit Card is an excellent option for those looking to rebuild their credit. Its easy approval process, pre-qualification tool, and no security deposit make it accessible to most applicants. However, high fees and limited rewards might not appeal to everyone.
If you’re serious about improving your credit score and are willing to manage your spending responsibly, the Indigo Credit Card could be the perfect fit. Take the time to weigh the pros and cons before applying.
