Milestone Credit Card Review 2025: Is It Worth It?
The Milestone Credit Card is designed for individuals looking to build or rebuild their credit without the need for a security deposit. As an unsecured credit card, it provides an opportunity for those with limited or poor credit history to access credit and improve their financial standing. However, with high annual fees, monthly maintenance fees, and a high interest rate, it may not be the best choice for everyone. This in-depth will explore the Milestone Credit Card Review, Milestone Credit Card’s pros and cons, general information, and commonly asked questions to help you decide if it’s the right fit for you.
What Is the Milestone Credit Card?
The Milestone Gold Mastercard is an unsecured credit card issued by The Bank of Missouri and managed by Genesis FS Card Services. It caters to individuals with bad or fair credit, offering a chance to improve their credit score through responsible use. Unlike secured credit cards, the Milestone Mastercard does not require a security deposit, making it an appealing option for those who don’t want to tie up their funds.However, the card comes with high fees and low credit limits, which may not be ideal for everyone.
The Milestone Credit Card is an unsecured credit card designed for those with less-than-perfect credit. Unlike secured credit cards, it doesn’t require a security deposit, making it accessible for many.
- Credit Limit: Up to $700 credit limit, depending on approval.
- Annual Fee: A high annual fee of up to $99, depending on creditworthiness.
- Interest Rate: The card carries a high interest rate, making it expensive for those who carry a balance.
- Credit Reporting: Reports to all three major credit bureaus, helping to improve your credit with responsible use.
- Balance Transfers: Not available, which may be a drawback for those looking to consolidate debt.
The Milestone Credit Card app allows users to manage their account, track spending, and make payments. The Milestone Credit Card app for Android and iOS makes it easy to access account information on the go.
Key Features of the Milestone Credit Card
Here are the main features of the Milestone Gold Mastercard:
✅ Reports to All Three Credit Bureaus – Payments are reported to Experian, Equifax, and TransUnion, which helps cardholders build credit.
✅ Pre-Qualification Without Impacting Credit Score – You can check your eligibility without a hard inquiry, which means your credit score won’t be affected.
✅ Fixed APR – The card has a fixed interest rate of 24.90% APR, so your rate won’t change unpredictably.
✅ Credit Limit of Up to $300 – A low credit limit may help prevent overspending, but it can also limit financial flexibility.
✅ Fraud Protection – As a Mastercard, the Milestone credit card offers zero liability protection against unauthorized transactions.
✅ Mobile & Online Account Management – Users can access their account via the online portal or mobile app for payments and transaction tracking.
Milestone Credit Card Aspect and Fees
Credit Limit
📑 Fee Structure
1⃣ Annual fee: $35 to $99, depending on creditworthiness
2⃣ Late payment fee: Up to $41
3⃣ Cash advance fee: Either $10 or 5% of the amount, whichever is greater
4⃣ Foreign transaction fee: 1% of each transaction
Additionally, some cardholders report being charged monthly maintenance fees after the first year, further reducing the card’s value proposition. These fees can significantly impact the already limited credit line, potentially affecting your credit utilization ratio—an important factor in credit scoring models.
Interest Rate
The Milestone Credit Card app allows users to manage their account, track spending, and make payments. The Milestone Credit Card app for Android and iOS makes it easy to access account information on the go.
Pros of the Milestone Credit Card
✅ Helps Build Your Credit – With monthly reporting to the major credit bureaus, responsible use can help improve your credit score over time.
✅ Simple Application Process – The online Milestone Credit Card app makes it easy to apply, with quick approvals for those who qualify.
✅ Widely Accepted – As a Milestone Mastercard, the card can be used anywhere Mastercard is accepted, making it a convenient option for purchases and bill payments.
Cons of the Milestone Credit Card
❌ High Interest Rates – With high interest rates, carrying a balance can lead to significant costs over time.
❌ Limited Credit Limit – The maximum Milestone Credit Card limit is $700, which may not be sufficient for those looking for higher spending flexibility.
❌ No Rewards or Perks – Unlike some Visa credit card options, the Milestone Mastercard does not offer cashback, rewards, or travel perks.
Is the Milestone Credit Card Good?
If you are wondering, “Is the Milestone Credit Card good?“, the answer depends on your financial situation. For individuals with poor credit or no credit history, it can be a stepping stone to better credit. However, the high annual fees, monthly maintenance fees, and high interest rate make it less appealing compared to other credit card offers. If you can qualify for a lower-fee option, you may want to explore other alternatives.
Milestone Credit Card Features & Common Queries
Milestone Credit Card App
The Milestone Credit Card app is available for Android users, allowing you to manage your account on the go. You can check your balance, make payments, and view transaction history, making it a convenient tool for cardholders. Karma offers resources to help users understand their credit scores and improve their financial health. Always consider your financial habits and needs before applying for any credit card, including the Milestone Credit Card.
The Milestone Credit Card app is available to manage transactions and monitor account activity. If you are an Android user, look for the Milestone Credit Card app for Android on the Google Play Store.
Customer Service and Support
Milestone Credit Card customer service is available to assist with any inquiries or issues. You can reach them at their customer service number for support. However, some reviews and complaints suggest that customer service can be hit or miss, so patience may be required.
If you need assistance, you can reach Milestone Credit Card customer service by calling their official customer service number. It’s best to have your account details ready when contacting support.
Cancelling Your Milestone Credit Card
If you wish to cancel your Milestone Credit Card, contact customer service and follow their closure procedures. Ensure all balances are paid beforehand to avoid unexpected fees.
If you decide that the Milestone Credit Card no longer fits your needs, you might consider cancelling it. To cancel your Milestone Credit Card, follow these steps:
1. Pay off any outstanding balance
2. Contact customer service at 1-866-453-2636
3. Inform the representative of your intention to cancel
4. Follow any additional instructions provided
Remember that cancelling a credit card can potentially impact your credit score, especially if it’s one of your older accounts or if it significantly affects your overall credit utilization ratio. Consider the potential consequences before making this decision.
Credit Limit and Increases
The initial Milestone Credit Card limit is typically up to $700, which may seem low compared to other credit cards. However, it’s important to remember that this card is designed for individuals with limited or poor credit history.
For those wondering about a Milestone Credit Card credit increase, the company may offer credit limit increases to eligible cardholders who demonstrate responsible card use over time. Factors that may influence a credit limit increase include:
- Consistent on-time payments
- Keeping your credit utilization ratio low
- Improvement in your overall credit score
- Length of time you’ve had the card
It’s worth noting that Milestone doesn’t typically offer automatic credit limit increases. If you’re interested in a higher limit, you may need to contact customer service to request a review of your account.
Managing Your Milestone Credit Card
The Milestone Credit Card App Experience
◉ View your current balance and available credit
◉ Make payments
◉ Set up automatic payments
◉ Review transaction history
◉ Update account information
◉ Access customer service
While the app provides basic functionality, some users report occasional technical issues and a somewhat dated interface compared to more mainstream credit card apps.
Customer Service Options
◉ Phone: The Milestone credit card customer service number is 1-866-453-2636
◉ Email: Through the secure message center in your online account
◉ Mail: Genesis FS Card Services, P.O. Box 4477, Beaverton, OR 97076
Customer service reviews are mixed, with some cardholders reporting long wait times and inconsistent information. This is an area where the Milestone card lags behind premium credit card providers that offer 24/7 service and more responsive support channels.
Strategies for Using the Milestone Credit Card Effectively
To maximize the benefits of the Milestone Credit Card while minimizing costs, consider these strategies:
- Pay on time and in full: Avoid interest charges by paying your balance completely each month before the due date.
- Keep utilization low: Try to use less than 30% of your available credit to positively impact your credit score.
- Monitor your credit progress: Use free credit monitoring services like those offered by Karma | Online shopping to track improvements to your score.
- Avoid cash advances: With high fees and interest, cash advances should be used only in genuine emergencies.
- Set up automatic payments: Ensure you never miss a payment by scheduling automatic minimum payments (at the very least).
- Request credit line increases: After 6-12 months of responsible use, contact customer service to inquire about a higher credit limit.
By following these guidelines, the Milestone Credit Card can serve as an effective stepping stone toward better credit and eventually qualifying for cards with better terms and more features.
Milestone Credit Card Reviews and Complaints
When researching credit cards, it’s always helpful to consider other users’ experiences. Milestone Credit Card reviews are mixed, with some users appreciating the opportunity to build credit, while others express frustration with the high fees and interest rates.
Common complaints about the Milestone Credit Card include:
1. High annual fees
2. Limited credit limits
3. Poor customer service experiences
4. Difficulty in getting credit limit increases
On the positive side, some users report improvements in their credit scores with responsible use of the card.
It’s important to note that experiences can vary widely based on individual circumstances and expectations. Always consider multiple sources and reviews when making a decision about a financial product.
Alternatives to Consider
While the Milestone Credit Card can be a stepping stone for some, it’s worth exploring other options that might better suit your needs:
1. Secured credit cards: These require a security deposit but often come with lower fees and interest rates.
2. Credit-builder loans: These can help you build credit without the risks associated with credit cards.
3. Other unsecured cards for fair credit: Depending on your credit score, you might qualify for cards with better terms.
4. Karma | Online shopping: This platform offers a unique approach to building credit through online shopping, potentially providing a more rewarding experience than traditional credit cards.
Conclusion
The Milestone Credit Card Review highlights both the advantages and disadvantages of this unsecured credit card. While it offers an opportunity to improve your credit and requires no security deposit, the high annual fees, high fees, and limited credit line may not make it the best option for everyone. Before applying, consider your credit utilization ratio, spending habits, and financial goals. If you are looking for credit card offers with lower fees and better perks, it may be worth exploring other options.
The Milestone Credit Card Review offers crucial details about its benefits and drawbacks. While it can assist in improving your credit, factors like its high fees, credit utilization ratio, and lack of balance transfers should be considered before applying.
Additionally, if you frequently shop online, evaluating cards that align with Karma Online shopping features might offer better value.
The Milestone Credit Card is a decent option for those looking to improve their credit, but the high fees, low credit limit, and lack of an app make it less appealing compared to other credit card offers. If you need a basic Visa credit card to rebuild your credit, this could be a stepping stone, but be mindful of the associated costs.
Take control of your credit journey today – apply for the Milestone Credit Card and start building your financial future!
FAQ's
The Milestone Credit Card is an unsecured credit card aimed at individuals with limited or poor credit history, allowing them to build or rebuild their credit.
Yes, the Milestone Credit Card does have an app available for both Android and iOS devices, making it easy for users to manage their accounts on the go.
Yes, the Milestone Credit Card is a legitimate credit card option issued by the Bank of Missouri, and it is backed by Mastercard.
Yes, cancel the Milestone Credit Card by contacting customer service. Be sure to pay off any outstanding balance before canceling to avoid additional fees.
For assistance, cardholders can reach Milestone Credit Card customer service at their designated customer service number, which is available on their official website.
The Milestone Credit Card credit increase is not guaranteed, and the card does not typically offer automatic credit line increases.
For assistance, cardholders can reach Milestone Credit Card customer service at their designated customer service number, which is available on their official website.
Unlike secured cards, the Milestone Credit Card doesn’t require a security deposit, but it often comes with higher fees and interest rates.
Credit limit increases may be available to eligible cardholders, but they’re not guaranteed and typically require a request and review process.
Yes, the Milestone Credit Card typically charges a foreign transaction fee for purchases made outside the United States.
No, the Milestone Credit Card does not offer a rewards program.