Understanding Milestone Credit Card Fees and Charges

Milestone credit card fees can be complex and overwhelming, but it's essential to break them down to make informed decisions.

Annual fees can range from $25 to $195 per year, depending on the card and your creditworthiness.

To avoid surprise fees, review your card's terms and conditions regularly.

Some milestone credit cards charge a late payment fee of up to $38, so paying your bill on time is crucial.

In addition to late fees, milestone credit cards may also charge a balance transfer fee of up to 5% of the transferred amount.

It's worth noting that some milestone credit cards offer rewards programs that can help offset these fees.

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The annual fee for some credit cards can be a significant expense. For example, one card charges $175 in the first year, followed by a $49 annual fee.

You should also consider the monthly fees associated with some cards. One card has a $0 monthly fee in the first year, but it increases to $150 annually, billed at $12.50 each month.

It's essential to factor these fees into your budget to avoid any unexpected expenses.

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The Milestone Credit Card Fees can be a bit overwhelming, but let's break it down. The annual fee is a significant cost, ranging from $75 in the first year to $99 thereafter, depending on the card.

You'll also need to pay a cash advance fee of 5% (minimum $5) if you take out cash from an ATM. This fee is charged on top of the cash advance amount.

The foreign transaction fee is 1%, which is relatively low compared to other credit cards. This fee is charged for purchases made in foreign currencies.

Here's a summary of the fees:

It's worth noting that the annual fee is deducted from your credit limit, which can restrict your spending abilities and increase your debt-to-credit ratio.

The fees and charges associated with the Milestone Mastercard can add up quickly. The regular purchase APR is 24.9%, and if you carry a balance, interest charges can accumulate rapidly.

Late payments come with a fee of up to $40, and if you exceed your credit limit, you'll also be charged a fee. You might see different fee amounts if you apply directly through Milestone.

A penalty APR of 29.9% may be applied if you make a single late payment, and it can stay on your account as long as it's open. This penalty APR can be a significant burden.

Cash advances carry a fee of $5 or 5%, whichever is greater, but will not exceed $100 per advance. Interest will still apply to the cash advance starting from day one, so be aware of that.

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The Milestone Credit Card has a low minimum credit limit, just $300, which can make it tough to keep your credit utilization low. This is because your credit utilization ratio is a key factor in calculating your credit scores.

The annual fee for the Milestone Credit Card is $175 in the first year, and then it drops to $49 after that. This fee will eat into your credit line before you even make a purchase.

To keep your utilization low, consider making payments more than once a month. Paying off your balances in full can also help.

Here are the fees associated with the Milestone Credit Card:

The minimum credit limit for the Milestone Mastercard is $300, which might not be enough to keep your credit utilization low.

Keeping your credit utilization ratio low is crucial for improving your credit scores. Your credit utilization ratio is calculated by comparing the amount of credit you use to what's available to you.

To help keep your utilization low, consider making payments more than once a month and aim to pay off your balances in full. This will ensure you're not overspending and can maintain a healthy credit-to-debt ratio.

The low minimum credit limit on the Milestone Mastercard is just $300, which means you'll have to be mindful of your spending to keep your credit utilization in check. This limit is relatively low compared to other credit cards.

The annual fee charged at account opening will eat into your available credit line before you even make a purchase. This can make it harder to keep your credit utilization ratio low, which is a key factor in calculating your credit score.

To avoid this issue, consider making payments more than once a month.

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The card limit for the Milestone Mastercard varies greatly depending on your creditworthiness. While it advertises $300 limits, I was actually approved for a $1,000 limit.

Having a good credit score can significantly increase your limit, with some users receiving higher limits than others. The better your credit score, the higher limit you're looking at receiving.

It's essential to keep your utilization below 30%, according to experts, no matter how high your limit is. This means only spending what you can pay back.

Not everyone will receive the same limit, and it's not uncommon for users to be approved for a lower limit than expected.

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If you're considering the Milestone Mastercard, it's worth taking a look at some of its alternatives. The First Latitude Select Mastercard Secured Credit Card and the First Access Visa Card both offer lower annual fees.

The First Latitude Select Mastercard Secured Credit Card has an annual fee of $25 the first year, then $35 after, while the First Access Visa Card has an annual fee of $75 the first year, then $48 after. This is lower than the Milestone Mastercard's $175 annual fee in the first year, which increases to $199 annually after that.

Here's a comparison of the three cards' annual fees:

The Milestone Mastercard is a credit card option for those with poor credit, but it's essential to weigh its pros and cons.

The annual fee for the Milestone Mastercard is $175 in the first year, increasing to $199 annually after that.

If you're looking for alternatives, consider the First Latitude Select Mastercard Secured Credit Card and the First Access Visa Card, both of which have lower annual fees.

The First Latitude Select Mastercard Secured Credit Card has a $25 annual fee in the first year, then $35 after, while the First Access Visa Card has a $75 annual fee in the first year, increasing to $48 after.

Here's a comparison of the annual fees for these three credit cards:

You'll also want to consider the interest rate, as carrying a balance can lead to high interest charges.

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Milestone customer reviews are a mixed bag. The credit card has helped thousands of people improve their credit scores.

Reviews on various platforms leave much to be desired, with WalletHub giving the Milestone credit card a rating of 1.9 from 4,822 reviews. Credit Karma gives it 2.4 from 358 reviews.

The complaints range from poor customer service to deposited money taking too long to reflect. Additional charges caused by delays in their system are also a concern.

Many customers have reported being called repeatedly by the Bank of Missouri about a Milestone credit card balance, even after asking them to stop. A debt validation request can help prove you don't owe the debt.

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