- Annual percentage rate (APR): 24.9% fixed for purchases.
- Purchase intro APR: None.
- Rewards: None.
- Annual fee: $35 to $99.
- Late fee: Up to $40.
- Credit score: Fair to Poor (640 and below).
- Apply Today.
Table of Contents
Benefits
- No processing fees: With the Milestone Mastercard®, you’re not responsible for monthly maintenance or processing fees. There are no fees that contribute to your balance or take away from your available credit, except your annual fee.
- No security deposit: The Milestone Mastercard® can help you build your credit if you’re a responsible borrower. However, it’s not a secured credit card so you aren’t responsible for providing a security deposit when you sign up for the card.
- Fraud protection: Since the Milestone Mastercard® is administered through Mastercard, you benefit from the perks of being a Mastercard account holder, including fraud protection. If you feel you may have been the victim of fraud, report it to the company and you may not be responsible for the fraudulent charges on your account.
Drawbacks
- No rewards program: There’s no rewards program associated with the Milestone Mastercard® so your purchases won’t earn you cash back or other perks. However, if you’re a responsible account holder, using the Milestone Gold card will help you build your credit and make you a more attractive borrower to lenders in the future.
- Annual fee based on credit score: As a Milestone Mastercard® cardholder, you owe an annual fee from $35 to $99, based on your credit score. If your credit score doesn’t improve, your annual fee may increase. As long as you continue to strive to improve your credit score and make responsible financial moves, your annual fee may decrease.
- Low credit limit: The highest credit limit available with the Milestone Mastercard® is $300 but if you take into consideration the annual fee you’re responsible for, this credit limit may be lower. However, if you’re attempting to build your credit or simply need a few extra dollars to pay for an emergency or monthly bill, it may be beneficial to have this credit limit, even if it’s low when compared to other cards.
What Can You Expect From the Milestone Mastercard®?
As a Milestone Gold cardholder, you must complete a pre-qualification process before signing up for a card, you can gain 24/7 access to an online account, and you can build your credit through regular credit bureau reporting.
Get Pre-Qualified
Before you apply for a Milestone Mastercard®, you must complete the pre-qualification process. The credit card company makes a soft credit inquiry to pre-qualify you for the card, which doesn’t affect your credit score.
If you do pre-qualify, you can move on to the application process. However, if you don’t, your score isn’t negatively affected and you can continue working to improve it so you eventually qualify for the card.
Online Account
When you become a Milestone Mastercard® cardholder, you can sign up for an online account through the company’s website. You’re able to access this account at any time and check your balance or review transactions on your card. You may also conveniently make your credit card payment through your online account without paying additional fees.
Credit Bureau Reporting
The company reports your financial behavior directly to all three credit bureaus regularly. If you’re a responsible borrower and you pay off your credit card balance on time each month, the credit bureaus will add these positive items to your credit report.
Your credit score increases when you continue showing positive financial behaviors with your Milestone Gold card. With a higher credit score, you’ll qualify for a lower annual fee and increase your creditworthiness in the eyes of other lenders.
Who Should Get the Milestone Mastercard®?
The Milestone Gold card is best for people who have low credit scores, since it has lenient credit score requirements. As long as these cardholders are financially responsible and make payments on time, the card could be instrumental in helping to increase their credit score.
Since the APR associated with the Milestone Mastercard® is relatively high, it’s a good credit card choice for consumers who plan to pay off their credit card balance each month and avoid paying interest. The card offers a low credit limit so it’s also a good choice for individuals who are looking for a manageable credit card that doesn’t provide excessive credit, which can easily get out of control.
If you’re looking for a way to increase your credit score and are prepared to pay an annual fee, the Milestone Gold card may be right for you. Be sure to review your credit limit and commit to paying your balance on time so you can reap the benefits of being an account holder.
Apply Today for the Milestone Mastercard®
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