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Indigo Platinum Mastercard Review

Indigo Platinum Mastercard Review

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Updated March 11, 2024

The Indigo Platinum Mastercard is a credit card for people with a spotty credit history looking to rebuild their credit score. If you don’t want a secured credit card and want to build credit, this traditional card may be a reasonable choice. However, low credit limits and potentially high fees make it a poor choice for anyone with good credit or who can qualify for a card with no annual fee and a lower interest rate.

Here’s a closer look at how the Indigo Platinum Mastercard works so you can decide if it’s the right fit for you.

TIME's Take

The Indigo Platinum Mastercard is a traditional credit card available to applicants with bad credit. However, high fees and interest rates could make it a poor choice for someone who qualifies for other credit cards. If you have the funds for a secured credit card deposit, a no-annual-fee secured rewards credit card could be a better option.

Who is the Indigo Platinum Mastercard for?

The Indigo Platinum Mastercard is best for someone with less than good credit looking for a traditional credit card that doesn’t require a security deposit. You can find out instantly if you qualify with a pre-qualification application. This won’t impact your credit score and will reveal certain terms, including the annual fee you’d pay.

The card carries a high annual percentage rate (APR) of 29.9%. You’ll also pay either $5 or 5%, whichever is higher, on each cash advance transaction up to a maximum of $100 and be charged 1% on foreign transactions, though these fees can be avoided.

The annual fee varies depending on your credit history. Annual fees range from $0 with better credit to $99 for those with worse credit. The Indigo Platinum Mastercard has 40 different cardholder agreements, so you don’t know your rates and fees unless you apply.

Credit limits range from $300 to $2,000. However, cardholders with lower credit limits may find themselves only able to access a portion of their credit initially. With the first-year annual fee of $75 for the lowest-tier version, your initial available credit would be just $225. Keep these limits in mind, as using more than around 30% of your credit limit can harm your credit score.

Rewards structure

It is possible to earn cash back on qualifying purchases. However, that benefit is only available to those qualifying for the higher-end version of the Indigo card. In the best case, you can earn 1% on purchases at eligible restaurants, gas stations, grocery stores, and mobile phone services. Rewards are automatically redeemed monthly as a statement credit, which lowers your credit card balance.

Unfortunately, the card doesn’t offer the same rewards program to all customers. Again, you won’t know which terms you will be offered unless you apply.

Additional hidden perks

The card doesn’t come with a robust set of purchase protections or travel insurance. The biggest benefits are those available to users of all credit cards. They include the ability to manage your cash flow and delay paying for certain purchases interest-free if you pay your credit card bill in full by the monthly due date.

Most credit cards, including the Indigo Platinum Mastercard, also include a 0% fraud protection benefit, so you don’t have to pay for credit card charges that you or an authorized user did not make. Another benefit is that credit reporting is sent to all three credit bureaus monthly, helping you build your credit score for future credit applications, assuming you use the card responsibly.

What could be improved?

The biggest improvement would be standardizing fees and rewards features so that all customers get the same. Not knowing if you’ll earn rewards or be charged an annual fee without applying is a major drawback.

Also, as a card targeted to users with poor credit histories, you may encounter low credit limits and be hit with a high interest rate if you carry a balance from month to month.

Alternatives to the Indigo Platinum Mastercard credit card

If you’re not convinced that the Indigo Platinum Mastercard is right for your needs, one of the following credit cards could be a great alternative.

Credit cardAnnual feeKey features
Simple credit card with varying annual fee.
No fees or interest charges, though it is a secured card requiring a deposit and you must have a Chime checking account.
No-annual-fee secured credit card with an opportunity to upgrade to an unsecured version.

TIME Stamp: There may be better options out there

The Indigo Platinum Mastercard could be a reasonable choice for people with less than stellar credit histories who don’t want to pay a secured-card deposit. The fees are not as high as some competitors and it’s possible to determine if you’ll get approved without impacting your credit score.

You won’t find out what your annual fee, credit limit, or rewards will be until you apply. You could end up getting a good deal or a bad one. There is a chance you qualify for cards with better fees or rewards, particularly if you’re willing to put down a security deposit. If you have the funds for a secured credit card deposit, a no-annual-fee secured rewards credit card could be a better option.

Frequently Asked Questions (FAQs)

Does the Indigo Platinum Mastercard have an app?

There’s no mobile app for the Indigo Platinum Mastercard. Users must pay their bills and manage their accounts using the website if they want to manage their accounts online.

What credit score do I need for the Indigo Mastercard?

The Indigo card is designed for people with poor credit histories, but there’s no specific minimum score to be approved.

Does the Indigo Mastercard give credit line increases?

If you qualify for the Indigo Platinum Mastercard Credit Limit Increase Program, your credit limit will increase if you make each of the first six minimum monthly payments on time.

What is the credit limit for the Indigo Mastercard?

Credit limits range from $300 to $2,000, depending on your credit history and other factors.

Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

The secured Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.

The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.