Milestone Credit Card Comparison Guide

Milestone credit cards are designed for consumers with bad or no credit, offering a chance to rebuild their credit score. These cards have a lower credit limit, typically ranging from $300 to $2,000.

The interest rates on Milestone credit cards can be steep, often between 24.9% and 35.99% APR. This can make it challenging to pay off the balance, especially for those with limited financial resources.

To qualify for a Milestone credit card, you'll need to meet certain requirements, such as having a steady income and a valid checking account. Some cards may also require a security deposit, which can be a barrier for those who can't afford it.

The fees associated with Milestone credit cards can add up quickly, including a monthly maintenance fee, a late fee, and a returned payment fee.

The Milestone credit card is designed for people with little or no credit history or credit negatives.

This card is an unsecured credit card, which means you don't need to put down a deposit to get it.

If you're careful about how much you charge and make sure to pay your bills on time and in full, you could use it to build your credit.

The overall rating of the Milestone credit card suggests it's a viable option for those looking to establish or rebuild their credit.

The Milestone Mastercard offers 24/7 access to your account, making it convenient to check your balance and manage your finances.

You can apply for the Milestone Mastercard even with a limited credit score, which can be a lifesaver if you're trying to improve your credit history.

The card works like a typical unsecured credit card, allowing you to make purchases up to your credit limit and pay off your balance by the due date to avoid interest.

However, you won't earn rewards with the card, so you'll need to keep track of your balance and the cost of keeping the card in your wallet.

Monthly fees can range from $35 to $99 per year, or up to $150 per year, so be sure to read the terms carefully before applying.

Annual fees can also be a significant expense, ranging from $35 to $99 per year, or up to $175 in the first year and $49 thereafter.

The ongoing APR can be quite high, ranging from 24.9 percent variable up to 35.9 percent variable, so it's essential to make timely payments to avoid interest charges.

The Milestone credit card has its advantages and disadvantages, and it's essential to consider both before making a decision. Here are some of the key pros and cons to keep in mind:

The Milestone Mastercard is a great option for those who want to build credit without a security deposit. This is because it doesn't require a security deposit, making it more accessible than secured cards.

Here are some of the benefits of the Milestone Mastercard:

On the other hand, there are also some drawbacks to consider. The annual fee can range from $35 to $99, which can reduce your initial credit limit.

Here are some of the drawbacks of the Milestone Mastercard:

The Milestone credit card's rates and fees are a bit of a mixed bag. The annual fee is a significant $175 for the first year, but it drops to $49 after that.

Some users may find the monthly fee of $12.50 to be a surprise, especially since it adds up to an extra $150 in annual fees. This fee is in addition to the annual fee, making the overall cost of the card more expensive than you might expect.

The APR on the Milestone Mastercard is also noteworthy, with a variable rate that can reach as high as 35.9 percent. This is one of the highest ongoing APRs on the market, making it essential to pay off your balance in full each month to avoid interest charges.

Here's a brief overview of the Milestone Mastercard's fees:

It's worth noting that the Milestone Mastercard also charges a fee for late payments, exceeding the limit, and returned payments, which can be up to $40 in each case.

If you're considering the Milestone Mastercard, it's worth exploring alternative options. The Citi Secured Mastercard, for example, has no annual fee and might be a better fit if you're looking for a card without one.

The Petal 2 Visa Credit Card is another option to consider, especially if you're new to credit and interested in earning cash back. This card doesn't require a deposit, which is a plus.

You can also compare the Milestone Mastercard to other credit-building cards, like the Citi Secured Mastercard, the Petal 2 Visa Credit Card, or the Capital One Platinum Credit Card. These cards may offer stronger features and lower rates and fees that can help you work on your credit score.

Here are some key features of these alternative cards:

The Discover it Secured Credit Card is another alternative to consider, with a $0 annual fee and a rewards rate of 1% - 2% cash back. The AvantCard Credit Card is also worth a look, but be aware that it has an annual fee of $59.

You can get pre-qualification online with Milestone, which can save you time and effort.

Milestone Mastercard doesn't require a security deposit, making it a good option for those with low credit scores who want to start building credit.

It's worth noting that a hard credit pull can temporarily lower your credit score, but Milestone Mastercard avoids this by not requiring a deposit.

The Milestone Mastercard has a high annual fee and interest rate, which might not be ideal for everyone.

If you're looking for a credit-building card with rewards, you might want to consider other options like the Discover it Secured Credit Card or the Capital One Quicksilver Secured Cash Rewards Credit Card.

Here are some other cards that offer rewards programs:

If you're considering the Milestone Mastercard, it's worth exploring alternative credit-building options. The Citi Secured Mastercard, for example, has no annual fee and might be a better fit if you're looking for a card without one.

The Petal 2 Visa Credit Card is another option to consider, especially if you're new to credit and interested in earning cash back. However, it's essential to weigh the pros and cons of each card before making a decision.

If you're looking for a secured card with no annual fee, the Citi Secured Mastercard could be a good choice. However, if you have some credit history, the Capital One Platinum Credit Card might be a better option, despite its limited features.

Here's a comparison of the Milestone Mastercard with some popular alternatives:

Keep in mind that these cards have similar features, but it's essential to review the terms and conditions before applying.

Community reviews of milestone credit cards can be a great resource for those looking to improve their credit scores. Some credit cards, like the Capital One Platinum Secured Credit Card, have no annual fee.

Reviews of these cards often highlight their benefits and drawbacks, helping you make an informed decision. The Capital One Quicksilver Secured Cash Rewards Credit Card, for example, earns 1.5% cash back on every purchase.

Reading multiple reviews can also give you a more well-rounded understanding of a card's pros and cons. The OpenSky Secured Visa Credit Card, for instance, has a relatively low credit score requirement.

We consider a product's overall value to be the most important factor in our rating system, with a score of 5 being the highest and 1 being the lowest.

A product's performance is evaluated based on its ability to deliver on its promises, with a focus on its key features and benefits.

We look at the product's pricing and compare it to its competitors to determine its overall value.

A product's design and user experience play a significant role in our rating system, with a focus on ease of use and aesthetic appeal.

We also consider the product's durability and build quality, with a focus on its ability to withstand regular use and last for a long time.

Our rating system takes into account the product's environmental impact, with a focus on its eco-friendliness and sustainability.

We evaluate the product's customer support and service, with a focus on its responsiveness and helpfulness.

Community reviews are a crucial part of the credit card selection process. They provide valuable insights from real users who have experienced the card firsthand.

The Capital One Platinum Secured Credit Card Review notes that this card has a relatively high approval rate, making it a great option for those with limited or no credit history. It also mentions that the card has a low annual fee of $0.

The OpenSky Secured Visa Credit Card Review highlights the card's flexibility in allowing you to apply for a credit limit increase after making on-time payments. This can be a great way to build credit and increase your credit limit over time.

The Merrick Bank Secured Credit Card Review emphasizes the importance of making timely payments to avoid late fees and negative credit reporting. This is especially crucial for those who are trying to rebuild their credit.

The First Progress Platinum Prestige Mastercard Secured Credit Card Review notes that this card offers a higher credit limit than some other secured credit cards, making it a great option for those who need a higher credit limit to make large purchases.