Indigo Mastercard Cardholder Agreement

On the record for Indigo Mastercard Cardholder Agreement 626: a 29.9% purchase APR, filed by Celtic Bank. That purchase rate ranks near the 72nd percentile across this corpus of 4,587 filings.

What the document actually states

Celtic Bank submitted the terms for Indigo Mastercard Cardholder Agreement 626 to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 12 pages.

Terms captured from the document include 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.

How the purchase rate compares

Set beside the rest of the index, the purchase APR of 29.9% lands at the 72nd percentile; it runs above the midpoint of the corpus.

The cost of carrying a balance

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $523 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $369. The gap — roughly $154 a year on $1,500 — is the price of this particular filing over a typical one.

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.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Where the fees are

Cash advances carry 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.

Foreign transactions attract 1%. On $2,000 of overseas spending that is $20, charged on top of whatever exchange rate applies.

When a payment is late

$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.

A minimum interest charge of $1 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

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 29.9% is more expensive than 7 of them.

The limits of this document

This page cannot tell you balance transfer terms, an annual fee and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

The document itself

The original filing, 12 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

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