With monthly reporting to the three credit bureaus, the Indigo Platinum MasterCard can help you improve your credit score (assuming you follow good credit practices). This is an unsecured credit card, which means it doesn’t demand a cash deposit as collateral, unlike many other credit-building choices.
You may not be charged an annual fee depending on your creditworthiness. However, if you have bad credit, you will almost certainly be charged an annual cost of $59 or $99. For the first year, the $99 annual charge is reduced to $75 for new cardholders.
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This card becomes less desirable as the yearly cost rises. After all, you could save a few hundred dollars for a secured credit card deposit, which would allow you to develop credit while also allowing you to earn your deposit back if you paid on time. (You won’t be able to recover the cost of an annual subscription.)
The card also has a 23.9 percent annual percentage rate (APR) (rate accurate as of March 2019). That falls within the normal range for a card designed for people with bad credit. Nonetheless, it implies that keeping a balance will be costly.