Indigo® Mastercard® – $1,000 Limit Credit Card
An unsecured credit card designed for people with less-than-perfect credit, including those with past bankruptcies. It offers a modest $1,000 limit with no security deposit required, but comes with high fees and interest in exchange for accessibility.
Card Details
- Card Type: Unsecured credit-building card (no deposit required)
- Credit Limit: $1,000 upon approval (fixed, no growth over time)
- Welcome Bonus: None
- Rewards: None – no cash back or points program
- Annual Fee: $0–$175 first year; $0–$125 in later years (most offers $175 year one, then $49)
- Monthly Fee: $0 first year; up to $12.50/month ($150/year) beginning year two for some cardholders
- Other Fees: Cash advance $5 or 5% (max $100); foreign transaction fee 1%
- APR: ~29%–36% variable, no intro period
- Bank Issuer: Celtic Bank, serviced by Concora Credit Inc.
- Card Network: Mastercard® (wide global acceptance)
- Credit Reporting: Reports monthly to Experian, Equifax, and TransUnion
- Application: Online pre-qualification with soft pull; hard inquiry only if approved
About The Card
The Indigo® Mastercard® is built as a “second chance” credit option for people rebuilding after financial setbacks. Unlike secured cards, it requires no security deposit — you’re granted an unsecured $1,000 line of credit if approved. This higher starting limit stands out compared to many competitor cards that begin around $300–$500.
Accessibility is Indigo’s biggest appeal: applicants with poor credit, limited credit history, or even a discharged bankruptcy may still qualify. You can check eligibility through a pre-qualification process that doesn’t affect your credit score. Once approved, Indigo reports monthly to all three major credit bureaus, giving you the ability to rebuild credit through consistent on-time payments.
That accessibility comes with costs. The annual fee is steep, often $175 in the first year, and monthly fees can start in year two. Combined with a very high APR, this makes the card expensive if you carry a balance. Indigo offers no rewards or long-term upgrade path — its purpose is purely credit rebuilding.
Pros
- No Security Deposit: Unsecured credit line, no need to tie up cash.
- Accessible for Poor Credit: Applicants with prior credit issues or bankruptcy may qualify.
- $1,000 Limit: Higher than many starter cards, helping utilization if used carefully.
- Pre-Qualification Available: Check eligibility with no impact to your score.
- Reports to All 3 Bureaus: Builds history across Experian, Equifax, and TransUnion.
- Mastercard Acceptance: Usable almost everywhere, with fraud liability protection.
Cons
- High Fees: Annual fee up to $175, plus potential monthly fees after year one.
- Very High APR: Makes carrying a balance costly.
- No Rewards: No cash back, points, or perks.
- Fixed Low Limit: $1,000 credit line does not grow over time.
- Uncertain Fee Structure: Final annual/monthly fees depend on approval tier.
- No Upgrade Path: Will not transition into a better product — you’ll eventually need to switch cards.
Is this card for me?
The Indigo® Mastercard® is for someone rebuilding credit who cannot qualify for or afford a secured card deposit. It provides an immediate unsecured $1,000 line and reports to all major credit bureaus, making it a functional tool for credit rehabilitation. However, the high fees and lack of rewards mean it should be treated as temporary. If you can pay your balance in full each month and use the card only to build history, Indigo can help you re-establish creditworthiness. Once your credit improves, you’ll want to move on to a card with lower fees and better long-term value.
