Indigo Mastercard Cardholder Agreement

On the record for Indigo Mastercard Cardholder Agreement 632: a 24.9% purchase APR, filed by Celtic Bank. Against the 4,587 filings on this site, that rate lands around the 60th percentile.

What the agreement puts on the record

Celtic Bank filed this agreement for Indigo Mastercard Cardholder Agreement 632 with the Consumer Financial Protection Bureau. It is issued on the Mastercard network and the filing runs 13 pages.

Terms captured from the document include 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.

How the purchase rate compares

At 24.9%, the purchase APR falls at roughly the 60th percentile of the 2,280 filings indexed here, which is unremarkable against the rest of the set.

The arithmetic of revolving

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $339.

On a median-priced agreement from this index (21.99%) the same $1,200 would run about $295 a year, so this card costs in the region of $44 more annually for the identical balance.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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

Fees, and what triggers them

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.

The filing sets a 1% foreign transaction fee, which adds roughly $20 to $2,000 spent outside the United States.

When a payment is late

Late payments are capped at $41 under this filing, about the 89th percentile of late fee maximums in the corpus.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

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

Against the rest of Celtic Bank's filings

There are 92 filings from Celtic Bank in this index. The issuer's own range is 22.49%–35.9%. At 24.9%, this agreement is dearer than 1 of its siblings.

What the filing does not tell you

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.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Reading the agreement yourself

This summary stands or falls on the linked PDF — 13 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The pricing here is middling by the standards of the index — 24.9% on purchases is near enough to typical.