Indigo Mastercard Cardholder Agreement

The Indigo Mastercard Cardholder Agreement 676 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.

What the document actually states

Celtic Bank submitted the terms for Indigo Mastercard Cardholder Agreement 676 to the CFPB's agreement database; this is what they contain. The filing runs 14 pages, and It is issued on the Mastercard network.

On the record here: a purchase rate, a late payment maximum, a foreign transaction fee and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

How the purchase rate compares

The purchase APR of 35.9% places this agreement around the 91st percentile of the set — it is costlier than the large majority of filings here.

The arithmetic of revolving

At the disclosed purchase APR, $4,000 revolving for a full year costs something like $1,727 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $983. The gap — roughly $743 a year on $4,000 — is the price of this particular filing over a typical one.

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. Advances under roughly $100 are charged the flat $5; larger ones are charged 5%.

Spending abroad costs an extra 1% — about $10 on $1,000 of purchases, independent of interest.

The downside terms

The maximum late fee is $41 — roughly the 89th percentile of the late fee ceilings disclosed across this index.

The no-interest path

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

This is one of 92 Celtic Bank agreements collected here. The issuer's own range is 22.49%–35.9%. At 35.9%, this agreement is dearer than 25 of its siblings.

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.

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

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.