Indigo Mastercard Cardholder Agreement

The Indigo Mastercard Cardholder Agreement 689 filing from Celtic Bank sets out a 35.9% purchase APR. That purchase rate ranks near the 91st percentile across this corpus of 4,587 filings.

The disclosed terms

What follows is drawn entirely from Celtic Bank's CFPB filing for Indigo Mastercard Cardholder Agreement 689. 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. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

Where the purchase APR sits

Measured against every other filing on the site, 35.9% is about the 91st percentile for purchase APR; it is costlier than the large majority of filings here.

Translating the rate into money

At the disclosed purchase APR, $2,500 revolving for a full year costs something like $1,079 in interest.

A card priced at the corpus median of 21.99% would charge roughly $615 on that balance. This one charges about $464 more per year.

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. $100 is the crossover point where the percentage overtakes the $5 minimum.

Spending abroad costs an extra 1% — about $50 on $5,000 of purchases, independent of interest.

What a missed payment costs

$41 is the disclosed ceiling on a late payment fee, placing it near the 89th percentile of the set.

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The issuer's other agreements

Celtic Bank has 92 agreements indexed on this site. Their disclosed purchase rates run from 22.49% to 35.9%, and this one at 35.9% is more expensive than 25 of them.

What is outside the disclosure

Absent from the captured terms: balance transfer terms, an annual fee and penalty pricing. The original document is the place to look for any of these.

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.

Where the authority sits

The original filing, 14 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

This is an expensive agreement by the standards of the corpus, driven by a 35.9% purchase rate that is inert for a transactor and punishing for a revolver.