“Starting January 2006 Statement of Account, please note the following
amendments: the minimum payment due is 5% or a minimum of $20
(whichever is greater) and the Debit Interest Rate is 1.25%.”

With Indigo, you "Buy Now & Pay Later". You can use your card to pay for goods or services and spread the payments over a period of time.
Paying with your card relieves you from the hassle of carrying cash, granting you security and peace of mind.

Indigo is a MasterCard Credit Card that can be used for purchases at around 7,000 Points of Sale in Lebanon and 21 million accredited merchants around the world.

That's not all! Indigo offers you extremely attractive discount rates at your favorite outlets (restaurants, bookshops, sports, cosmetics and clothing shops, health clubs…).
Check the “Indigo Discount Spots” section for a detailed listing of our partner retailers. Indigo stickers on the outlets’ doors will also help you find them easily.

Indigo Benefits

Indigo annual fee
You pay 5$ to subscribe and 0$ to renew

Indigo is your privileged pass to your preferred places and valued shopping spots
Useful discounts and V.I.P. treatment are yours when you pay with Indigo at more than 100 partner outlets. To make sure you take full advantage of these offers, Indigo cannot be used to withdraw cash from ATMs

Indigo is accepted worldwide
It is MasterCard and you can use it at merchants around the globe when you travel

Indigo can be used for Internet shopping
You can reasonably shop for books, CDs or any other items through the Web

Indigo ensures secure and cautious Monthly Spending Limits
You should not spend more than you can afford to pay back. Indigo allocates a spending limit up to US$ 300 by month for undergraduates and US$ 1000 per month

Indigo slashes Debit Interest Rates
When you spread your payments over a few months, an interest rate is added to the amount due. For Indigo it is just 1.25% per month, which means that you will pay $1,25 per month for each US$ 100 you borrow

Indigo offers extended interest free Grace Periods
When you spend with Indigo in a given 30-day period, you will receive an electronic Statement. If you choose to settle the full amount within the Grace Period, no interest will be applied! Your Grace Period can therefore go up to 45 days

Indigo provides handy Monthly Statements
Exclusively delivered by e-mail, only when there is activity or a previous balance on your card account. Your Statement charge is US$ 1, when issued. Your card account is also available for free consultation 24/7 through this Website, at the “Monthy Activity Statement” section

Indigo allows low Monthly Repayments
You can either choose to repay the whole amount spent without interest up till the due date, or start paying back as low as 5% of the total amount due with a minimum of US$ 20 per month
(Small Tip): You can even deposit your pocket money into the card account and pay it through Indigo to take advantage of the discounts offered, interest free of course!

Indigo is most practical to settle
You can settle your monthly repayments or make deposits in your card account at any of Bank Audi's 74 branches across Lebanon, where our staff will be glad to guide and serve you.
To process your settlement, you simply need to state your card account number, available at the top left corner of your Statement.
If you are a Bank Audi current account holder, your alternative settlement methods are: Direct debit from your current account, settlement at ATM and settlement through Audi On-Line.

Indigo is easily activated
It is automatically activated 24hrs. after you sign its delivery receipt

Indigo is automatically renewed
As long as you are a student, the card is automatically renewed on a yearly basis, unless you advise the Bank otherwise, one month prior to expiry date

Useful Hints about Payment Cards

What are the main kinds of Payment Cards?
Debit Cards and Credit Cards; mainly Visa, MasterCard, American Express, …

What is a Debit Card?
It is a card that enables you to withdraw cash from ATMs and to purchase goods and services from accredited merchants.
When you pay with your Debit Card, the amount is directly withdrawn from the balance on your account.
If funds are insufficient, the authorization will not be given to the merchant and payment cannot be made.

What is a Credit Card?
A Credit Card is not directly linked to your bank account, it provides you with a spending limit.
You use it the same way as your Debit Card; the only difference is that amounts are not directly withdrawn from your bank account at the moment of the transaction.
Credit Card invoices (Statements) are sent to you at a fixed date every month, for settlement.
With a Credit Card, you may enjoy a « Grace Period » to settle your charges. As long as you pay the total amount due within this period, no additional charges are applied. If you decide to spread payments, you start paying interest.

What is a Line of Credit or Credit Limit?
The Credit Card offers you a predetermined Line of Credit. This Line of Credit is the maximum limit you can spend on the card. Each time you repay your dues, the limit is refreshed and put back at your disposal.
If the credit limit is accidentally exceeded, an overstepping fee will be applied. (For Indigo it is 2% of the overstepped amount with a minimum of US$5).

What is a Credit Card Statement?
It is the invoice that the Bank sends you at the end of each period (Indigo Statements are dispatched by e-mail on the 24^th of each month).
Read your Statement carefully and take note of your Due Date, to make sure that you do not miss it.
Your Statement lists all transactions performed on your card during the period, calculates your outstanding balance, as well as your available limit and the minimum amount you should pay on or before the Due date. Check example.
(Another Small Tip): Try not to delay the repayment till the Due Date, to keep your ability to spend on your card at its highest level

What is a Due Date?
The Due Date represents the day by which settlement of at least the Minimum Due amount must be made. Once this date has passed, interest rates start being calculated on the amount spent and charged on your card account. (Indigo Due Date is on the 10^th of each month).
On Due Date, two cases may apply:
- You settle the Minimum Due or a bigger amount, the remaining amount will be spread over several installments, and monthly debit interest rates will be added, retroactive per unsettled transaction.
- You reimburse the total amount spent with no interest or additional charges.

What is a Minimum Due?
It is the minimum amount that you need to settle to the Bank by the Due Date. It is equivalent to a minimum of 5% of the total amount spent (for Indigo it is 5% of your total amount due with a minimum of $20).

What is a Grace Period?
The Grace Period is the period of time between your Statement date and the Due Date. This period may vary; for Bank Audi cardholders it can go up to 45 days, depending on transaction date. Check example.

What is an Interest Rate?
If you settle your charges before the Due Date, interest applies on the unsettled portion of your charges.
It is important to understand how interest rates are calculated on your Credit Card account:
All your purchases are noted on your Card Statement. Each Statement reminds you of your Minimum Due amount and Due Date.
Within the Grace Period, you must settle the full Minimum Due amount. The remaining amount will be subject to the addition of monthly interest, calculated from the date of the transaction till the date of full repayment. Settlement of previous interest and fees take priority over settlement of other transactions.

What is a Payment Card Validity?
Credit and Debit Cards have expiry dates. In general they are renewed on annual basis.

What is a POS – Point Of Sale?
It is the accredited outlet where you can make your purchase and pay with your card.
Payment is done when your card and your transaction are validated through the POS machine

Some recommendations for a better use of your Payment Card

Example of 3 Indigo Months

Statement Sample