Indigo Card Holder Agreement: What You Need to Know
Applying for a credit card can be a daunting task, especially if you`re not familiar with the terms and conditions of the agreement. The Indigo Card is one of the options available to consumers, and it`s important to understand the card holder agreement before applying.
What is the Indigo Card?
The Indigo Card is a credit card that is issued by Celtic Bank and serviced by Genesis FS Card Services. It is designed for individuals with less-than-perfect credit who are looking to rebuild their credit score. The Indigo Card reports to the three major credit bureaus, making it a good option for those who want to improve their credit history.
What is the Card Holder Agreement?
The card holder agreement is a legal document that outlines the terms and conditions of the Indigo Card. It explains how the card works, what fees are involved, and what the responsibilities and obligations of the card holder are. It is important to read and understand the agreement before applying for the Indigo Card.
What are the Fees and Charges?
The Indigo Card charges an annual fee, which is waived for the first year. The fee varies depending on the credit limit of the card, but it ranges from $0 to $99. There is also a one-time processing fee when you open your account, which is typically $25.
The interest rate for the Indigo Card is high, so it`s important to pay off the balance in full each month to avoid accruing interest charges. Late fees and returned payment fees are also charged if you miss a payment or your payment is returned.
What are the Benefits of the Indigo Card?
One of the main benefits of the Indigo Card is that it reports to the three major credit bureaus. This means that if you use the card responsibly and make your payments on time, it can help improve your credit score over time.
The Indigo Card also offers fraud protection and 24/7 customer service. You can also access your account online to view your statement, make payments, and manage your account.
Conclusion
The Indigo Card can be a good option for those with less-than-perfect credit who are looking to rebuild their credit history. However, it`s important to understand the terms and conditions of the card holder agreement before applying. Make sure you read the agreement carefully and understand all the fees, charges, and benefits of the Indigo Card before opening an account.