Indigo Mastercard vs Destiny Mastercard

Quick Introduction

Both the Indigo and Destiny credit card are marketed by Genesis Financial Services and offer various card with different terms to consumers depending on their credit profiles. Some of their offers have identical terms while other offers are unique to each. Despite these differences, both cards share many of the same features as they are both from the same company.

Possible Terms Compared

Both the Milestone and Indigo credit card require you to go through a pre-approval process. Depnding on one's credit profile, different people will be offered different terms. Below is a table listing all the possible terms and conditions.

Indigo Card Terms				Destiny Card Terms
Annual Fee	Monthly Fee	APR	Credit Limit	Annual Fee	Month Fee	APR	Credit Limit
$0	N.A.	24.9%	$300
				$35	N.A.	24.9%	$300
$59	N.A.	24.9%	$300	$59	N.A.	24.9% or 29.9%	$300 or $500
$75 for 1st Year Then $99	N.A.	24.9% or 29.9%	$300	$75 for 1st Year Then $99	N.A.	24.9% or 29.9%	$300
$99	N.A.	29.9%	$400
$125	N.A.	29.9%	$500	$125	N.A.	29.9%	$500
				$125 1st Year Then $49	Y1=$0 Then $10.40/m	35.9%	$500
				$175 1st Year Then $49	Y1=$0 Then $12.50/m	35.9%	$700

As you can see from the table above, both Indigo and Destiny offer you a few versions of their cards depending on their assessment of your credit profile. Here are some of my observations.

Firstly, Indigo has a no annual fee version which Destiny does not. On the other hand, Destiny has a $35 annual fee version which Indigo does not have. Both of these offers have a $300 credit limit.

Both Indigo and Destiny have the $59, $125 and ($75 for first year, then $99) annual fee versions (which are essentially identical).

However, Destiny has two offers which charges a monthly from the second year onwards. Indigo does not have any cards that require you to pay a monthy fee on top of an annual fee.

Other Similarities

The Indigo and Destiny are similar in the following ways:

• Both Marketed by Genesis Finanical Services - Both the Indigo and Destiny credit card are marketed by Genesis Financial Services.


• No Credit Limit Increase - Both credit cards do not increase your credit limit. That means you are stuck with your initial credit limit as long as you remain a cardholder.


• Pre-approval Process - Both the Indigo and Destiny credit card require you to go through a pre-approval process with no impact on your credit score (ie just a soft pull). If you are pre-approved, you will be shown one of their offers and you can then proceed with the actual application if you are happy with the terms and conditions.


• No Mobile App - Both these cards do not have mobile apps. Their desktop website is also not mobile friendly. So essentially, you have to manage your account online from a desktop computer and not from your mobile phone.

Other Differences

• Different Bank Issuer - The Destiny credit card is issued by First Electonic Bank while the Indigo Mastercard is issued by Celtic Bank.

Which is better? Indigo or Destiny credit card?

Though both cards are isssued by Genesis Financial Services and many of their offer terms and conditions are similar and overlap, I would say that the Indigo Mastercard has got better offers. Firstly, they have a no annual fee version which Destiny does not have. Having said that, Destiny has a $35 annual fee version which Indigo does not have.

However, Destiny also has a couple of offers where they will charge a monthly fee from the second year onwards. The first version has a $125 annual fee for the first year which lowers to $49 from the second year onwards. However, from the second year onwards, there is a monthly fee of $10.40 which works out to $124.80 a year. That means that that you will pay a total fee of $173.80 ($49 + $124.80) from the second year onwards. With a credit limit of $500, you are paying 34.76% ($173.80 / $500) of your credit limit in fees. That is way too high for my liking.

Take the other offer where you pay $175 annual fee for the first year followed by $49 thereafter. From the second year onwards, you have to apay a $12.50 monthly fee which works out to $150 a year. The total fee you pay from the second year onwards is $199 ($49 + $150). And that is 28.43% ($199 / $700) of your total credit limit of $700. Once again, that is too high for my liking.

So if I had to pick which is the better card, I would have to go for the Indigo over the Destiny credit card simply because they offer a no annual fee version and none of their offers have any monthly fee from the second year onwards.

Having said that, both have flaws that might deter some of you. For example, both do not increase your credit limit (which will remain low for as long as you have the card) and they do not have a mobile app. If these are red lines for you, then you might want to check out other unsecured credit cards or soft pull credit cards with a pre-approval process.