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The Milestone® Mastercard® is designed to help people with little to no credit build a positive payment history. Pay your bills on time and in full, keep your balances low, and you should see your score improve. The unsecured credit card accepts all credit types – even people with past bankruptcy! Plus it does not require a security deposit, which is great if you’re strapped for cash. If this card sounds like the right choice for you, read on.
What We Like About Milestone® Mastercard®
Credit Made Accessible
The Milestone® Mastercard® is a solid choice if you’re looking to build or rebuild your credit or if you’ve had past financial issues – like bankruptcy – that make obtaining a credit card challenging. Their inclusive approach makes it an appealing option for a wide range of consumers.
The convenience of a Mastercard®, even with less than perfect credit!
Access a $700 credit limit. Use nationwide. No security deposit needed.
Prequalify for Instant Credit
You can prequalify for the Milestone® Mastercard® without hurting your credit score. Milestone® will only conduct a soft credit pull to check your finances. Prequalifying is not a guarantee you’ll be approved, but it is an easy risk-free way to explore your options. If you decide to formally apply, Milestone® will do a hard credit check so you may see a temporary dip in your credit score.
No Security Deposit Required
Unlike many credit cards targeted toward individuals with lower credit scores, the Milestone® Mastercard® is a regular credit card and does not require a security deposit. This is great if you don’t have upfront cash to deposit and need a line of credit.
Reports to All Three Credit Bureaus
When you’re looking to improve your credit score, credit reporting is a must. The Milestone® Mastercard® reports to all three major credit bureaus – Experian, TransUnion, and Equifax. This is essential since payment history is the most important factor in building credit. Pay your bills in full and on time, and keep your credit utilization low, and you should see a boost in a few months.
Complete with Mastercard® Features
Being a credit-building card doesn’t mean skimping on features. As part of the Mastercard® network, Milestone® can offer users plenty of perks.
Mastercard® Global Service gives you 24/7 assistance worldwide in case your card is lost or stolen. It covers lost or stolen card reporting, emergency card replacement, and emergency cash advances.
Zero Liability Protection means you are not responsible for unauthorized transactions, adding an extra layer of security to your finances and giving you peace of mind.
Mastercard® Airport Concierge lets you enjoy 15% off on airport meet and greet services, which are available round the clock in 700 destinations worldwide.
New
Identity Theft Monitoring is a crucial feature in today’s digital age. This service helps to safeguard your personal information including your social security number, email addresses, bank accounts, credit cards, and more.
Credit Protection
You can choose to enroll in credit protection, which can be a lifesaver if unexpected events impact your ability to pay your credit card bill. Unforeseen eligible events include involuntary termination of employment, disability, hospitalization, natural disaster, and loss of life. There are of course restrictions, so you may not be considered eligible even if you are experiencing one of them.
Overlimit Coverage
Milestone® Mastercard® offers optional overlimit coverage so that your transaction will still be processed even if you exceed your credit limit. This can be beneficial as you will still be able to make purchases, but it comes with a fee of up to $41. Decide if the fee is worth it to you. If you don’t want your card to be declined, even if you’ve run out of credit, then enroll.
Greater access to credit than before – $700 credit limit!
Get the credit you need today. No security deposit. Only a fast and easy application.
Great Card for Building Credit!
“I have had this card for about two years and I’ve honestly had a really pleasant experience with it. I applied for this card because I needed to rebuild my credit and wanted a low-balance non-secured credit card to do so. The card itself doesn’t really have a lot of benefits, per se, but it did exactly what I needed it to do. As soon as I was approved for the card and started using it, my credit score rose 30 points! My card arrived quickly and the setup process was easy (I literally called the activation phone number at 12:30 am and my card was activated by 12:32 am). If you are looking for a card that will help you rebuild your credit and keep you accountable, give Milestone a try!” Carina MWhat to Watch Out for with Milestone® Mastercard®
High APR
One significant downside of the Milestone® Mastercard® is its high annual percentage rate (APR). Milestone®’s APR ranges from 24.90% to 35.90%. This can be a concern if you plan on carrying a balance, as it can lead to substantial interest charges over time.
Annual Fee
The card comes with an annual fee, which can be a deterrent for some. The annual fee ranges from $35 to $99, based on which version of the card you’re approved for. The fee will be taken out of your credit limit, so if you’re approved for a $700 credit limit with a $35 annual fee you’ll begin with a $665 credit limit. It’s essential to weigh this cost against the card’s benefits to determine if it’s a worthwhile expense for you.
Not sure if Milestone® Mastercard® is the one for you?
Take a look at 5 Credit Cards with up to $1,000 Initial Credit Limit to find your match.
Final Thoughts
The Milestone® Mastercard® is a decent option if you want an unsecured card to repair or build your credit. Like most cards for poor credit, it has high-interest rates and fees, but you’ll find fewer fees than other cards charge. It reports to all three credit bureaus, lets you prequalify without hurting your credit score, and does not put up any barriers to those who’ve faced financial challenges in the past. If you want a traditional credit card and your applications keep on being denied, consider Milestone® Mastercard®.
