Indigo^® Mastercard^® - $1,000 Credit Limit

The Indigo^® Mastercard^® - $1,000 Credit Limit offers a $1,000 credit limit guaranteed if approved. This is an unsecured credit card for people with less-than-perfect credit, so no security deposit is required to establish the credit line. The card is issued by Celtic Bank and reports account activity to all three major credit bureaus.

The $1,000 Credit Limit offer is different from the Indigo^® Mastercard^® for Less than Perfect Credit, which offers a $700 credit limit guaranteed if approved. If the amount of your starting credit line is important to you, the $1,000 offer provides the higher advertised credit limit.

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What Is the Indigo Mastercard $1,000 Credit Limit?

The Indigo Mastercard - $1,000 Credit Limit is an unsecured credit card that provides a $1,000 credit limit if you are approved. The offer specifically states that the $1,000 credit limit is guaranteed if approved. This does not mean approval itself is guaranteed. Indigo reviews applications using additional credit qualification criteria, including income, debt and identity verification.

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The card does not require a security deposit, which means the $1,000 credit line is not secured by money you have to deposit with the issuer.

How Much Credit Is Actually Available With a $1,000 Limit?

The initial available credit is about $750, even though the credit limit is $1,000. The reason is that the $250 first-year annual fee is charged against the account's initial credit line.

That means a $1,000 credit limit does not necessarily give you $1,000 of available credit to use when the account is opened. With the $250 annual fee charged to the account, approximately $750 remains available for purchases.

This distinction is particularly important when comparing credit cards for less-than-perfect credit. The advertised credit limit tells you the size of the credit line, while applicable fees can determine how much of that line is actually available to you initially.

What Are the Fees for the Indigo Mastercard?

The Indigo Mastercard has a $250 annual fee during the first year and a $99 annual fee thereafter. The card also has a monthly maintenance fee that is $0 during the first year but increases to $19.25 per month after the first year.

• Annual Fee: $250 the first year; $99 thereafter.
• Monthly Maintenance Fee: $0 the first year; $19.25 per month thereafter.
• Cash Advance Fee: $5 or 5% of the transaction, whichever is greater, up to $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.

The monthly maintenance fee is especially important to understand because it does not apply during the first year. After the first year, the $19.25 monthly fee is billed each month, while the annual fee also drops to $99.

Because fees can change, always review the current rates and fees for the specific offer before opening the account.

Does the Indigo Mastercard Require a Security Deposit?

No. The Indigo Mastercard is an unsecured credit card, so you do not have to provide a refundable security deposit to establish the $1,000 credit line.

This is different from a secured credit card, where the cardholder generally provides a refundable security deposit to establish or support the credit line. With the Indigo Mastercard, the $1,000 credit line is unsecured if you are approved.

Can You Pre-Qualify for the Indigo Mastercard Without Affecting Your Credit Score?

Yes. The Indigo offer allows you to check for a pre-qualified offer without an impact to your credit score. The offer also states that there is no impact to your credit score if you are not approved.

This gives you an opportunity to check whether you may qualify before deciding whether to proceed with the credit card application. If you proceed with the application and are approved, the resulting credit inquiry can affect your credit report.

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Does the Indigo Mastercard Report to All Three Credit Bureaus?

Yes. The Indigo Mastercard reports account activity to all three major credit bureaus.

That means your payment history and other account activity can be reported as you use the card. Making payments on time and managing the account responsibly can help establish a positive credit history.

Who Is the Indigo $1,000 Credit Limit Offer For?

The Indigo Mastercard - $1,000 Credit Limit is designed for consumers with less-than-perfect credit who want an unsecured credit card without providing a security deposit.

The $1,000 starting credit limit may also be important to someone who wants more initial credit than the separate $700 Indigo Mastercard offer provides. However, the $1,000 credit limit should be considered together with the card's fees because the $250 first-year annual fee reduces the initial available credit to approximately $750.

Indigo Mastercard $1,000 Credit Limit Review

The biggest feature of this particular Indigo offer is the $1,000 credit limit if approved. Unlike a standard offer where the starting limit may simply be assigned by the issuer, this offer specifically identifies a $1,000 credit limit guaranteed if approved.

The card is unsecured, does not require a security deposit, reports to all three major credit bureaus, and allows you to check for a pre-qualified offer without affecting your credit score. Those are important features for someone considering an unsecured card with less-than-perfect credit.

The biggest consideration is the cost. The $250 first-year annual fee means approximately $750 of the $1,000 credit line is initially available, and the $19.25 monthly maintenance fee begins after the first year. Anyone considering the card should therefore look at both the credit limit and the complete fee structure before deciding whether this offer fits their needs.

If you are comparing Indigo's credit-limit offers, you can also read our Indigo Mastercard for Less than Perfect Credit review, which covers the separate $700 credit-limit offer.