Indigo Mastercard Cardholder Agreement

Indigo Mastercard Cardholder Agreement 639, as filed by Celtic Bank, carries a 29.9% purchase APR. The purchase rate sits at roughly the 72nd percentile of the 4,587 agreements indexed here.

The disclosed terms

Celtic Bank submitted the terms for Indigo Mastercard Cardholder Agreement 639 to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 14 pages.

On the record here: a purchase rate, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

The purchase rate in context

29.9% puts the purchase APR near the 72nd percentile across 2,280 agreements, so it sits in the more expensive half.

Translating the rate into money

A $1,200 balance left untouched for twelve months accrues about $418 in interest at this purchase rate.

A card priced at the corpus median of 21.99% would charge roughly $295 on that balance. This one charges about $123 more per year.

Broken down to a single thirty-day cycle, the same balance accrues roughly $29.84.

There is also a floor: the filing sets a minimum interest charge of $1, so any cycle that accrues less than that is billed at $1 anyway.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

The fee structure

For cash advances the filing discloses a cash advance fee of $5 or 5% of the advance, whichever is greater. Advances under roughly $100 are charged the flat $5; larger ones are charged 5%.

The filing sets a 1% foreign transaction fee, which adds roughly $30 to $3,000 spent outside the United States.

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

Where interest applies at all, the filing bills at least $1. On a tiny balance that floor can dwarf the rate itself.

What a missed payment costs

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

How it sits in the issuer's own range

There are 92 filings from Celtic Bank in this index. Their disclosed purchase rates run from 22.49% to 35.9%, and this one at 29.9% is more expensive than 7 of them.

What is outside the disclosure

The disclosure parsed here does not state balance transfer terms, an annual fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Reading the agreement yourself

The filed PDF is linked from this page and runs 14 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

29.9% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.