Greater access to credit than before - $700 credit limit
Get a Mastercard accepted online, in store and in app
Account history is reported to the three major credit bureaus in the U.S.
$0 liability for unauthorized use
Access your account online or from your mobile device 24/7
August 15, 2022
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Let’s begin with this Milestone® Mastercard® credit card review.
If you have a less than perfect credit score, or even a bad credit score, then this could be the credit card you’ve been looking for. The Milestone® Mastercard® is widely accepted by vendors all across the US, it reports your account history to all three credit bureaus which allows you build credit over time, and it comes with fraud protection in case your card ever gets lost or stolen.
Bank of Missouri, the issuer of the Milestone® Mastercard®, has designed it for applicants with Poor-Fair credit, that's credit score between 300-580.
An important to note is that the credit card company will adjust the annual fee for the card based on your credit scores. The better your credit score, the less annual fee you'll be required to pay.
Let’s now look at the fees you can expect to pay when using the Milestone® Mastercard® Credit Card.
For starters, you can expect to pay an annual fee of $175 for the first year, see terms for annual fee thereafter. This is the average fee for credit cards designed for building credit.
The Milestone® Mastercard® has a cash advance fee of $5 or 5% whichever is higher.
The Milestone® Mastercard® Credit card comes with a fixed APR of 35.90% on purchases. Cash advances have a fixed APR of 35.90%.
Although these numbers seem high, they are the norm for unsecured credit cards designed for building credit. As long as you pay off the entirety of your balance on time each billing cycle, you won't have to worry about paying any interest.
The Milestone® Mastercard® Credit Card supports a zero liability policy for all its users.
The zero liability policy is a provision in credit card contracts, which states that the credit card company won’t hold the cardholder responsible for unauthorized transactions made on the credit card.
With the Milestone® Mastercard® Credit Card, you can also get a cash advance. The credit card company will mail you a personal identification number (PIN) to let you access cash at ATMs.
You can also access your account online 24/7 on your computer or mobile device.
Let’s compare the advantages and disadvantages of the Milestone® Mastercard® Credit Card.
Here’s a closer look at some of the benefits of this credit-building card:
Here’s a look at some of the limitations of this credit building card:
Let’s now look at some alternative cards to consider:
While the Milestone® Mastercard® has a low credit limit and doesn’t have a rewards scheme, it shouldn’t matter too much to the right cardholder.
Remember, this isn’t a card for someone with an impressive credit history or a perfect credit score. This is a decent option for folks on their way to build a positive payment history and establish a positive credit profile.
By establishing good financial habits and paying your balance off on time you can slowly but surely work your way towards a prime credit card.
You can apply for this card here.