Milestone® Mastercard® Review

In case you thought you couldn’t get approved for a credit card with your poor credit score, think again. The Milestone® Mastercard® accepts applicants with poor to good credit, so you’re almost guaranteed to be approved.

On top of that, the card has a few neat perks, like several plans to choose from and reporting to the credit card bureaus, making it an interesting option for anyone in need of flexible credit card policies.

Take a good look at the Milestone® Mastercard® if you are struggling, and find out if it’s the answer to financial limbo.

Milestone® Mastercard®

Information about the Milestone® Mastercard® has been collected independently by Money Under 30. Please confirm terms on the card issuer's website. Offer details verified on May 23, 2024.

Welcome Offer

No welcome offer or sign-up bonus offered.

Rewards

No rewards offered on spending.

Annual Fee

$175 annual fee for the first year; $49 after. Plus, there's a monthly fee that's $0 in the first year and $150 annually thereafter (billed $12.50 each month).

Our Thoughts

The Milestone® Mastercard® may be a last resort for those with poor credit who want avoid a security deposit and have their account history reported to the three major credit bureaus. Still, the annual and monthly fees are very high, and you'll want to avoid carrying a balance because of the sky-high interest rate.

Best for

• People with really poor credit
• Anyone wanting to build their credit from scratch
• Those looking to rebuild credit after a financial mishap
• Anyone who has filed for bankruptcy

The Milestone® Mastercard® is an excellent credit card for people with poor credit who have been rejected by other card companies (or never bothered applying) because of their low credit.

Overall, it’s a great option for anyone in this category because it’ll allow you to build a higher credit score based on reasonable spending and responsible repayments. Plus, you can get a couple of perks while you’re at it.

Similar to a secured credit card, the Milestone® Mastercard® is meant to help you build credit. As such, it doesn’t have a lot of the bells and whistles other credit cards offer.

The goal is to use your Milestone® Mastercard® wisely, establish a good credit history for yourself, and then trade it in for a more rewarding credit card.

For these purposes, the Milestone® Mastercard® is an excellent choice and even offers a few fringe benefits to assist you along the way to positive credit scoring. As mentioned, the low credit is not a problem, so that already starts this card out on a good foot.

Credit Reporting

Another positive aspect to the Milestone® Mastercard® is that it reports your payment history to the three major credit bureaus.

The credit bureaus are the ones who collect information on your spending, repayment, loan, and other financial activities and use this information to build your credit report.

Paying off your credit card bills responsibly and in a timely fashion will increase your credit score and allow you to qualify for better cards in the future.

Here’s a quick look at the important rates and fees you’ll pay with your Milestone® Mastercard® card.

Annual Fees

Annual fee: $175 annual fee in first year; $199 total annually after.

You could opt for a no annual fee card like the Capital One Platinum Secured Credit Card but the credit limit is generally low.

You may actually find the Milestone® Mastercard® fairs better than many other low credit score credit cards because of the additional benefits that come along with the card.

An important note about fees—these are deducted from your credit limit. So, if you’re paying the annual fee with a credit limit, your actual credit limit will only be that amount subtract the annual fee.

Not only does this restrict your spending abilities, but it also increases your debt to credit ratio (not a good thing). To avoid this negative repercussion, pay off the fees regardless of your credit card monthly payment and keep your credit limit.

APR

The Milestone® Mastercard® may not have the highest APR around, but is it pretty high. Some will find it comparable with other low credit score cards.

Also, many people find it comforting to have a fixed rate with no strings attached. It’s just easier knowing exactly what your APR is and will always be. Additionally, the Milestone® Mastercard® comes with a 25-day grace period, so you can avoid paying interest altogether if you pay off the balance in full each month within this grace period.

Balance Transfer Fees

At present, the Milestone® Mastercard® doesn’t support balance transfers (so there’s no fee for this service). If you’re looking to make a balance transfer, take a look at these balance transfer credit cards for your best options.

Penalty APR

The Milestone® Mastercard® does not charge a penalty APR; however, you should always pay your bills on time with or without a penalty APR present.

Additionally, you’ll pay a late payment fee up to $41 if you miss a payment, go over the limit, or have a payment returned.

Foreign Transaction Fees

The Milestone® Mastercard® charges a 1% foreign transaction fee. This is charged whether you’re in a foreign country making the purchase or doing so online at a store that charges in a foreign currency.

While there are plenty of credit cards that don’t charge any foreign transaction fees, there are many other cards that charge significantly more, as much as 3% to 5% in fact.

So, 1% isn’t really bad as far as industry standards go.

Cash Advances

The Milestone® Mastercard® has a cash advance fee of $5 or 5%, whichever is greater, but will not exceed $100 per advance.

Note that interest will still apply to the cash advance starting at day one.

The Milestone® Mastercard® actually comes with more benefits than most low score credit cards. Of the most significant advantages of the card is the fact it comes complete with the Mastercard® benefits that come along with more exclusive cards. Some of the benefits include:

Identity Theft Resolutions Services

Identity theft resolutions services assist victims of identity theft to fight fraudulent charges, close down accounts, and regain access to their lives after someone has stolen their identities.

Price Protection

Price protection is convenient if you hate finding out that you overpaid for an item. If you find the same thing for a lower price within 60 days of your purchase, the Milestone® Mastercard® ensures that you’ll be reimbursed the difference from what you paid.

Online Access

Another convenient perk of the Milestone® Mastercard® is that you’ll be able to have full account access online whenever you want. This allows you to pay bills online, enjoy paperless statements, view transaction history, and check the status of your account at any time.

The Milestone® Mastercard® takes the standard security measures to ensure your safety including using SSL encryption, identity verification for your account, and strict privacy policies to keep your information safe.

While the Milestone® Mastercard® itself doesn’t offer direct alerts for your account, its partners offer both account monitoring and alerts services. You can keep an eye on your account to stay ahead of identity fraud.

Also, you can set up payment alerts, so you know exactly when a payment is due and never miss a payment or get charged a late fee.

The Milestone® Mastercard® offers phone support seven days a week from 6AM to 6PM PST. You can also visit the customer center or browse through the thorough FAQ section on the website for DIY troubleshooting.

• Phone: 866-453-2636
• FAX: 503-268-4711
• Snail mail: Bankcard Services, PO Box 4477, Beaverton, OR 97076-4477