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®
- 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
| Annual Fee | Intro APR, Purchases | Intro APR, Balance Transfers | Regular APR | Credit Needed |
| See terms. | N/A | N/A | See terms. | Poor/Fair |
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
Card Overview
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.
Taking a Closer Look
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.
Rates & Fees
Here’s a quick look at the important rates and fees you’ll pay with your Milestone® Mastercard® card.
Annual Fees
Annual fee: See terms.
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
APR range: See terms.
The Milestone® Mastercard® does not have the highest APR around, but is 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.
Rewards & Benefits
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.
Security
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.
Alerts
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.
Customer Support
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
Pros & Cons
Pros
- You Don’t Need Pefect Credit — This card is offered to those with poor credit.
Cons
- High Annual Fees — This card has an annual fee.
- Costly Interest Charges — This card has a high standard interest rate.
Milestone® Mastercard® Compared
There are numerous credit cards available – both secured and unsecured – for those with less than perfect credit. A few alternatives to consider include the First Latitude Select Mastercard® Secured Credit Card and the First Access Visa® Card.
| Milestone® MasterCard® | First Latitude Select Mastercard® Secured Credit Card | First Access Visa® | |
|---|---|---|---|
| APR | See terms. | 24.49% Variable | 35.99% |
| Annual Fee | See terms. | $25 the first year, then $35 after | $75 the first year; $48 after |
| Late Payment Fee | Up to $41 | Up to $41 | Up to $41 |
Both the First Latitude Select Mastercard® Secured Credit Cardand the First Access Visa® Card have a lower annual fee than you’d get with the Milestone® Mastercard®, and they both offer 1% cash back. Instead of earning cash back on your purchases, you’ll earn cash back when you pay for your purchases. All three cards come with program fees.
Is the Milestone® Mastercard® Right For You?
The Milestone® Mastercard® is a golden opportunity for people with bad credit, no credit, or bankruptcy in their past. However, the annual fees is a bit steep compared to some credit cards.
Plus, you get the assurance of global acceptance at over 33 million stores across 210 countries. While no reward program is offered with the Milestone® Mastercard®, you’ll still get the advantage of building credit in an easy, non-secured way, making this a good choice for those who are having trouble getting approved elsewhere.