Milestone Gold Mastercard Credit Card Review
Milestone® Gold Mastercard®
- Intro bonus: No current offer
- Annual fee: $35-$99
- Regular APR: 24.90%
- Recommended credit score: 300-670 (Bad to Fair)
Milestone Gold Mastercard is an unsecured card for building credit issued by the Bank of Missouri. Because the issuer regularly reports your payments to the three credit bureaus, you can use it to build credit over time by practicing good credit habits. But a low credit limit may hinder your credit-building success. Plus, this card’s fees can get costly, and there are no added benefits like points or other rewards.
At a Glance
- Unsecured credit card (no security deposit required)
- Pre-qualification option
- No rewards or benefits
- $35-$99 annual fee
- $300 credit limit
- 24.9% APR
Pros
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Monthly reporting to the three credit bureaus
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Can get pre-qualified without a hard credit inquiry
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Accessible card option for people with bad credit or no credit history
Cons
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High APR
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High annual fees compared to similar cards
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No rewards or benefits
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No option for credit limit increase
Additional Card Details
You won’t get any rewards or benefits with this card, but will get a few standard offerings through Mastercard, including identity protection with the ID Theft Monitoring program, card replacement in case of loss or theft, and zero liability for fraudulent transactions.
And because this card is a Mastercard, your spending power isn’t limited to a single retailer — you can use your Milestone Gold Mastercard anywhere Mastercard payments are accepted.
If you’re approved for the card, you’ll be assigned an annual fee based on the information in your application. These are the options:
| First-Year Annual Fee | Ongoing Annual Fee |
|---|---|
| $35 | $35 |
| $59 | $59 |
| $75 | $99 |
When you’re approved for a Milestone Gold Mastercard, your starting credit limit will total $300. Some issuers allow automatic credit limit increases with good credit use over time or will increase your credit limit upon request. However, this card’s $300 credit limit is standard; you cannot request an increase.
The card also charges foreign transaction fees, but you’ll pay just 1% on purchases made outside the U.S., compared to the 3% fee many other issuers charge.
Should You Get This Card?
While Milestone Gold Mastercard can help you build credit, there are better credit-building options you should consider first. You should at least check the terms you prequalify for before submitting an application.
The terms you’ll be assigned upon approval can make a big difference in this card’s value. While some Milestone Gold card agreements are comparable to similar credit-building options with a relatively low $35 annual fee, you may be assigned an annual fee as high as $99.
Instead of paying that much annually for an unsecured credit card with no benefits, you may find more value from a secured credit card like the Citi® Secured Mastercard® or Secured Mastercard® from Capital One.
For example, consider a secured card in which you put down a $300 refundable deposit upon account opening, but pay no annual fee. After two years of positive payment history and maintaining a low credit utilization, you’re able to raise your score and upgrade to an unsecured card with better rewards and benefits, and receive your initial deposit back.
If you open this card instead and receive the highest annual fee of $75 the first year, then $99, you wouldn’t need the cash deposit upfront, but by the end of those two years, you will pay a total $174 in nonrefundable fees.
How to Use the Milestone Gold Mastercard
Before submitting an application for this card, use the prequalification feature to see whether you qualify for an account and which of the three annual fee structures you’re eligible for. This can help you determine whether the…
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