Review
concora Indigo Mastercard Review: Last Resort for Credit Building
Navigating the Indigo Mastercard means understanding a path to credit building for poor scores, but at an exceptionally high cost. Uncover whether this "last resort" option is truly your only viable step forward.
Concora Credit
Indigo Mastercard
| Annual Fee | $175.00 |
| Regular APR | Annual Percentage Rate (APR) for Purchases 35.9% APR for Cash Advances 35.9% |
| Other Fees | Monthly Fee $0 the first year (billed $0 each month); $150 annually thereafter (billed $12.50 each month) Cash Advance Fee $5 or 5% of the amount of each transaction, whichever is greater (not to exceed $100) Foreign Transaction Fee 1% of each transaction in U.S. dollars Late Payment Fee Up to $41 Overlimit Fee Up to $41 Returned Payment Fee Up to $41 Minimum Interest Charge If you are charged interest, the charge will be no less than $1.00. Credit Protection monthly fee is $1.49 per $100, or part thereof, of the ending balance on your billing statement. Set Up and Maintenance Fees NOTICE: Some of these set up and maintenance fees will be assessed before you begin using your card and will reduce the amount of credit you initially have available. Based on your initial credit limit of $700, your initial available credit will be only about $525. |
Overview
Pros & Cons
What's great
- Helps build credit
Things to consider
- High annual fee
- High regular APR
- No intro APR period
- No sign-up bonus
- No rewards
- Foreign transaction fees apply
- Significant upfront fees reduce initial available credit
Benefits
Drawbacks
Decision Guidance
Summary
The Indigo Mastercard receives an overall rating of 0.4 out of 5.0, placing it firmly in the 'Very Poor' category. This card is a prime example of a last-resort option for individuals with very poor credit, but its exorbitant costs and lack of benefi...