Milestone Credit Card – Milestone Gold MasterCard Review
The Milestone credit card is a MasterCard that is targeted towards individuals with bad credit that are searching for a possibility to surpass their previous credit mistakes and also enhance their credit score rating. Like many credit card offers of this kind, it uses high fees and rates of interest combined with a low credit limit. I do find a lot of redeemable value in having this Milestone credit offer in your wallet.
Milestone® Gold MasterCard® is issued by Genesis Bankcard Services.
Our complete review and evaluation of the Milestone® Gold MasterCard® is listed below:
The rates of interest on Milestone credit is up to 23.9%, which is high. If your credit isn’t the best you’re paying a high price, there is no staying clear of that. We cannot fault Milestone credit too much for this. So if you have bad credit yet, it’s not poor compare the Milestone credit card with other less than perfect credit card offers. Credit fast found that when we did our research that the Milestone® Gold MasterCard® charged lower fees in comparison to other credit card offers in the same category.
Ranges on the fees of credit card offers for bad credit (fee types issued varies with each credit card company)
- minimum security deposit: $300-$500 (for secured credit cards)
- one time processing fee: $75 – $100
- annual fee: $75-$125
- authorized user fee: $20-$30
Later with established credit, you can always upgrade to a no annual fee credit card with rewards. People can find success and call their credit card company and ask for their annual fee to be waived permanently.
Even if you have had credit troubles in the past, you possibly understand that it is challenging to obtain brand-new credit as soon as you’ve screwed up. Credit cards like the Milestone Card supply you the possibility to enhance your credit history, yet they are so limiting that we cannot suggest them. Allow’s check out just what the Milestone credit card deals and after that speak about various other choices.
Milestone Credit Card Reports Monthly
The Milestone credit card reports to the major credit bureaus. The Milestone Gold MasterCard is not a prepaid card. This distinction means if you utilize Milestone credit wisely you can increase your credit score with time. Most people see positive results on their credit report within six months.
Among the primary advantages of the Milestone credit card, is that it permits customers with much less than perfect credit to re-establish credit, or develop their credit if they have no established credit history. Each Milestone credit account is reported to the three credit bureaus. This reporting on your credit file will help you raise your credit score if you handle your Milestone credit account correctly.
The card has an APR of 23.90% variable interest rate, which remains at the higher end of the range. This APR is still a very reasonable rate of interest for those with less than perfect credit. The Milestone Gold MasterCard additionally includes an annual fee cost of $35-$99 dollars, depending on your credit score. The Milestone® Gold MasterCard® gives access to the MasterCard Gold Benefits program.
Milestone credit card Limit is Low for New Card Members.
Your credit score determines the credit limit of the Milestone® Gold MasterCard®. You will have a guaranteed minimum credit limit of at least three hundred dollars. This credit line is enough to begin building positive credit history. With good behavior, Milestone credit card holders will typically see a credit line increase after six months or more.
Credit Fast always recommends consumers from racking up too many credit inquiries on their credit report. The benefit of the Milestone MasterCard is that it allows prospective candidates to learn if they qualify by pre-qualifying without impacting their credit score.
Once approved for a Milestone MasterCard, you will obtain a credit card with a credit limit of a minimum of three hundred dollars. You will pay a yearly charge. Your annual fee will range from $35, $59, or $75. The annual fee rises to $99 after the initial year. This annual fee is right away charged on your credit line when you obtain the card. So your line of credit starts at anywhere from $265 to $225. In the first month, you will have a lower credit line. You won’t be able to buy a lot with this credit card until you pay the annual fee.
The Milestone MasterCard – for individuals with poor to fair credit.
If you do not have major credit troubles from the past, think about applying for a credit card with no annual fee. Examples are the Capital One Platinum credit card and Barclaycard Rewards. These are two examples of credit cards that do not charge annual fees.
As said earlier in this article, individuals should avoid hard pull credit inquiries on their credit report. Another way to avoid this is to use the Card Match tool below. Card match will perform a soft pull on your credit report, which will not impact your credit report. Only the last four digits are asked of your social security number. You will receive an instant decision on offers you prequalify for.
In conclusion, we gave the Milestone® Gold MasterCard® four stars. We took off one star for the high rate of interest and high annual fee. Credit Fast felt in comparison to other credit cards in the same category that what Milestone credit had to offer was a fair deal. This credit card is a good competitive deal to consumers that have less than perfect credit scores.
It would be wiser to accept a credit card offer without an annual fee. However, not everyone has a credit rating high enough. If you do not qualify with your current credit score for a no fee credit card, I would recommend applying for a Milestone card. Credit Fast feels that the Milestone Credit Card offers an individual a decent chance to rebuild credit at a reasonable cost. There are other credit cards for less than perfect credit that have much higher fees.
Latest posts by Monica Kowollik (see all)
- Cash Back Credit Cards How to Earn Cash Rewards - June 22, 2017
- Medical Credit Card – Benefits and Risks of Medical Credit - June 21, 2017
- Emergency Funds – How do You Start an Emergency Fund? - June 20, 2017