What the Indigo Unsecured Mastercard offers consumers is freedom. If you’ve struggled to get a credit card because of your credit score or lack thereof, this could be the card for you. That’s even true if you have a previous bankruptcy, as all credit scores are considered. With a host of things that require you to have a credit card to book or buy, this can open up a lot of possibilities, but hold the phone! Don’t apply until you know all the details about the Indigo Unsecured Mastercard.
First, as the name suggests, this is an unsecured card, which means it's one of a handful of cards that might offer you a credit card with no deposit even though your score isn’t great. If you’re jumping for joy, hold up a second, because that doesn’t mean it comes at no cost. The standard APR of this card is well above average—not unusual for an unsecured card geared at low credit users, but oftentimes secured cards, which require deposits, offer a bit of an APR reprieve. That’s the trade-off.:If you carry a balance for any length of time on this card, you’re likely to pay what you would have for a deposit anyway in APR.
With that said, don’t carry a balance and you're fine. If you are trying to raise your credit score by getting a card intended only for small purchases you can pay off each month, go for it. This could be a great card because it has no deposit. It will likely come with an annual fee, which will be decided on a case by case basis, but that’s also typical. With online account access and credit bureau reporting, this is a fairly good choice for bad credit users, even though it has no bonuses or perks. Don’t be deterred from building your credit, because once you do you may qualify for better credit card offers.