| Name | Score | Visit | Annual Fee | Regular APR | Intro Offer | Credit Needed | Disclaimer | |
|---|---|---|---|---|---|---|---|---|
 | 6.8 | Visitmilestonegoldcard.com | $35 - 99 | 24.90% | N/A | Qualify with bad credit |
This one’s for the credit-challenged folks—the Milestone Mastercard is an unsecured credit card that gives you a fair chance to build credit.
Since you won’t have to worry about a security deposit, picking this credit card may seem like a no-brainer.
But there are some drawbacks you must consider—
How the Milestone Mastercard works.
Its fees, rewards, and benefits.
The pros and cons you should keep in mind.
Read more:
Milestone Mastercard: Quick Glance
Full name: Milestone® Mastercard®
Best for: Building credit history without a security deposit
Issuer: The Bank of Missouri
Required credit score: Bad to fair credit (300–669)
What is the Milestone Mastercard?
The Milestone Mastercard isa credit card for folks with poor credit.
Along with the Destiny and Indigo cards, it’s part of a lineup by Genesis Financial Solutions aimed at helping people rebuild credit.
The Milestone card reports your monthly payments to all three major credit bureaus, which can help improve your credit score over time.
Unlike most cards for bad credit, you don’t need to put down a security deposit to start using the Milestone card.
But there are a couple of downsides to consider—
For instance, the initial credit limit is usually pretty low, and the card has high-interest rates. The Milestone card also has different annual fees depending on your situation.
In other words, you’ll want to read the terms and conditions carefully to understand how the payment works.
How Does the Milestone Mastercard Work?
The Milestone Mastercard is a straightforward credit-building solution. You can check if you pre-qualify for it by going to the issuer’s website.
This won’t affect your credit scores because it’s not a hard pull on your credit report.
Depending on your credit history and income, you’ll be pre-approved for one of three versions of the Milestone Mastercard.
Now, the only difference between these versions is the annual fees.
Here’s a quick breakdown:
Milestone Mastercard 300: This one has an annual fee of $35.
Milestone Mastercard 301: The first year, the annual fee is $75($99 after that).
Milestone Mastercard 322: This version has an annual fee of $59.
Once you qualify for one of these cards, you’ll get all the key information about the credit line, annual fee, and other terms and conditions.
If you’re happy with the offer, you can submit a formal application.
Just keep in mind that this step triggers a hard inquiry on your credit report, and this can temporarily bring down your credit score.
Milestone Mastercard: Rating
Here’s our quick Milestone Mastercard review and overall rating:
 | |
Category | Features |
APR | 24.90% |
Annual fee | $35 - $99 (Dependent on credit worthiness) |
Starting limit | $700 |
Overall credit card rating | 3.4/5 |
Milestone Mastercard Fees
Here are all the key fees you should consider before getting your hands on the Milestone Mastercard:
DETAILS | METRIC |
|---|---|
Annual fee | $35–$99 |
Security deposit | $0 |
Sign-up bonus | N/A |
Intro APR | N/A |
Purchase APR | 24.90% (variable) |
Balance transfer APR | N/A |
Cash advance APR | 29.90% (variable) |
Cash advance fee | $0 during the first year After the first year, either $5 or 5% of the amount of each transaction (whichever is greater) |
Credit limit | $700 |
Foreign transaction fee | 1% on all transactions outside of the US |
Overlimit fee | Up to $41 |
Late fee | Up to $40 |
Milestone Mastercard: Pros and Cons
Here’s a glance at all the pros and cons of getting this credit card:
- Qualify with bad credit.
- No security deposit.
- Reports to major credit bureaus.
- Quick pre-qualification.
- High annual fees.
- Low starting credit limit.
- High APR.
- No rewards or one-time offers.
Pros—What We Like
Qualify with bad credit
The Milestone Mastercard is designed for folks with challenging credit histories, and those who want to rebuild credit. That’s why you can apply for this card with bad credit.
Read more:
No security deposit
Traditional unsecured credit cards aren’t usually accessible for people with poor credit or no credit history. But the Milestone Mastercard takes a different approach by getting rid of security deposits altogether.
You’re granted a revolving line of credit without having to put down a security deposit—and an annual fee is deducted from your available credit.
Both the credit limit and the annual fee are determined based on your creditworthiness.
Read more:
Reports to major credit bureaus
Milestone Mastercard reports your credit activity to all three major credit bureaus (TransUnion, Equifax, and Experian).
So, if you use your card responsibly and make positive contributions to your credit, this card can help you build a credit history.
Quick pre-qualification
To find out if you’re eligible for the Milestone Mastercard, head over to the issuer’s website and check if you pre-qualify.
The cool part is that this won’t have any negative impact on your credit scores because it’s not considered a hard inquiry on your credit report.
Cons—What to Consider
High annual fees
Like we said, the annual fee for the Milestone Mastercard depends on which level of card you qualify for: the Gold 300, 301, or 322.
Milestone Gold Mastercard 300: The annual fee is $35.
Milestone Gold Mastercard 301: For the first year, the annual fee is $75. Then—from the second year onwards—it goes up to $99 per year.
Milestone Gold Mastercard 322: The annual fee is $59.
Low starting credit limit
When you get approved for a Milestone Mastercard, you’ll get a credit line of at least $700.
Other unsecured credit cards like the Petal 2 Visa card give you a maximum figure as high as $10,000.
Remember
Unlike other cards, Milestone doesn’t specify if or how the credit limit can be increased over time.
No rewards or one-time offers
The Milestone Mastercard doesn’t provide rewards for spending and doesn’t offer a one-time bonus to new card members.
While this is common for a card designed for bad credit, it’s an unusual omission for a card that charges annual fees.
Milestone Mastercard Comparison
Here’s how the Milestone Mastercard compares to similar credit cards:
Milestone® Mastercard® 3.4 |  Indigo® Mastercard® 3 |  Reflex® Platinum Mastercard® 2.8 |
Annual Fee $35 - $99 (Dependent on credit worthiness) | Annual fee $75–$99 | Annual fee $75–$99 |
APR 24.90% | APR 29.99% | APR 29.99% |
Starting Limit $700 | Starting credit limit $300 | Starting limit $300–$1,000 |
Milestone Mastercard: Useful links
Access the Milestone Mastercard login page.
Check out the Milestone Mastercard app.
Click here to get Milestone Mastercard’s phone number.
Access Milestone Mastercard’s customer service.
Get the Milestone Mastercard activation link to start using your card.
Check your Milestone Mastercard application status.
Get the Milestone Mastercard pre-approval link here.
Get more information on owning a credit card, your rights, and more at the Consumer Financial Protection Bureau’s website.
Get your free FICO score.
Download our free credit card payoff calculator.
Milestone Unsecured Mastercard Online Reviews
Here are some Milestone Mastercard reviews from cardholders on the internet:
“Good for rebuilding credit provided you don’t maintain a balance and that you don’t go over the limit.”
“This is a good card for rebuilding your credit. Was easy to obtain and the online management helps me keep track of spending and payments.”
“Someone that wasn’t me and wasn’t even verified (I have proof) was able to call and report identity theft on my account causing my account to be closed. Customer service advised that I would need to get a new card and upload a copy of my ID.”
Is the Milestone Mastercard Good for Me?
You can get a Milestone Mastercard even if your credit is fair or poor. But this feature alone may not justify choosing this card over better options.
This card comes with an annual fee of up to $99 per year, which is charged to the card and reduces your credit limit until it’s repaid. The credit limit can be as low as $300, and the exact amount of your limit is uncertain.
You can consider the Milestone Mastercard as a short-term tool to establish your credit.
Remember
By using the card responsibly and making timely payments, you can improve your credit score.
One card is plenty to impact credit scores. But leave as much room on your credit card as possible each month. Keeping this “credit utilization” low positively influences credit scores. Plan on keeping your account open for a long time, too.Freddie Huynh, Vice President (Data Optimization) at Freedom Debt Relief
You can also explore alternatives like the Petal 2 Visa card. This card is fee-free if you meet the qualifying criteria, and offers cashback on your everyday purchases.
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