Milestone Mastercard® Review
Credit cards give you the freedom and comfort to use your money anyway you want, regardless of your financial situation. Users that behave responsibly may even see an improvement in their credit ratings over time. However, what if your existing standing prevents you from making certain choices? Don’t be concerned. Many reputable banks offer financial products that are tailored to the needs of customers who have poor or no credit. One possibility worth considering is the Milestone® Mastercard®.
An in-depth analysis of the Milestone® Mastercard® has been created for the purpose of assisting you in determining whether or not this is the most suitable credit card for your needs. Find out more information regarding the application process, the interest rates, and the deposits that are required. And if you’re still not certain that this is the right card for you, have a look at the other options that are described farther down in this article.
Procedures to Follow and Prerequisites to Meet
The application process for the Milestone® Gold Mastercard® is straightforward and conducted entirely online; therefore, all you require is a smartphone, a computer, and access to the internet. Simply filling out the prequalification form will allow you to determine whether or not you fulfil the requirements for opening an account as well as the annual fee structure that you are qualified for. This preliminary screening procedure needs only a light investigation into the applicant’s credit history. Therefore, even if you have made credit mistakes in the past or are in a scenario that prevents you from being approved, you will not make your situation worse by conducting a thorough inquiry followed by being denied.
There is no assurance that you will be granted approval for the Milestone® Mastercard®, despite the fact that the card is intended to aid those with poor credit and is created specifically for them. You must meet the following requirements to be eligible for the Milestone® Mastercard®:
- You must be at least 18 years old (19 in Alabama).
- Have a Social Security Number that is still active.
- Have a US IP address as well as a US physical address.
- Not have a Milestone® Mastercard® account that has been closed due to nonpayment of fees or other charges.
- Attain the credit qualification standards set forth by the company.
For the latter, the corporation maintains the right to check your credit report, evaluate your income and debt, and validate your identity before granting you the service. Additionally, information regarding the history of your credit card prequalification request will be obtained by Milestone® Mastercard®. Your application might not be accepted until after two days have passed. In addition, your new card should arrive at your address within fourteen business days, in the majority of circumstances.
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Milestone Mastercard® Review
The most recent update was on August 2, 2022.
Advertiser disclosure
Minimum deposit:
None
APR:
24.9% (fixed)
Verification of credit:
Yes
Fees associated with foreign transactions:
1%
Cost per year:
$35 – $99 (depending on creditworthiness)
Fee for cash advances:
5% or $5 (whichever is greater)
Cashback and other incentives:
None
Bank account requirement:
Yes
Milestone Mastercard® Logo Editorial Rating
Credit cards give you the freedom and comfort to use your money anyway you want, regardless of your financial situation. Users that behave responsibly may even see an improvement in their credit ratings over time. However, what if your existing standing prevents you from making certain choices? Don’t be concerned. Many reputable banks offer financial products that are tailored to the needs of customers who have poor or no credit. One possibility worth considering is the Milestone® Mastercard®.
An in-depth analysis of the Milestone® Mastercard® has been created for the purpose of assisting you in determining whether or not this is the most suitable credit card for your needs. Find out more information regarding the application process, the interest rates, and the deposits that are required. And if you’re still not certain that this is the right card for you, have a look at the other options that are described farther down in this article.
Procedures to Follow and Prerequisites to Meet
The application process for the Milestone® Gold Mastercard® is straightforward and conducted entirely online; therefore, all you require is a smartphone, a computer, and access to the internet. Simply filling out the prequalification form will allow you to determine whether or not you fulfil the requirements for opening an account as well as the annual fee structure that you are qualified for. This preliminary screening procedure needs only a light investigation into the applicant’s credit history. Therefore, even if you have made credit mistakes in the past or are in a scenario that prevents you from being approved, you will not make your situation worse by conducting a thorough inquiry followed by being denied.
There is no assurance that you will be granted approval for the Milestone® Mastercard®, despite the fact that the card is intended to aid those with poor credit and is created specifically for them. You must meet the following requirements to be eligible for the Milestone® Mastercard®:
- You must be at least 18 years old (19 in Alabama).
- Have a Social Security Number that is still active.
- Have a US IP address as well as a US physical address.
- Not have a Milestone® Mastercard® account that has been closed due to nonpayment of fees or other charges.
- Attain the credit qualification standards set forth by the company.
For the latter, the corporation maintains the right to check your credit report, evaluate your income and debt, and validate your identity before granting you the service. Additionally, information regarding the history of your credit card prequalification request will be obtained by Milestone® Mastercard®. Your application might not be accepted until after two days have passed. In addition, your new card should arrive at your address within fourteen business days, in the majority of circumstances.
An Analysis of the Milestone® Mastercard®
There are a few things you need to take into consideration before making a final decision to apply for the Milestone® credit card. In this section, we will go through the various costs associated with the Milestone® credit card, as well as the credit limits and safety measures.
Security deposit & credit limit
The Milestone® Mastercard® is a credit card that does not need a security deposit. When you sign up for this particular kind of credit card, you won’t have to put any money down as a deposit. Instead, you will have access to a revolving line of credit that you can use whenever you need it.
In spite of this, the credit limit on the Milestone® Gold Mastercard® is only $300. In addition, the annual charge might reduce the amount of spending power that is originally made available to as little as $201 in some cases. Another disadvantage of the Milestone® Mastercard® is that you are unable to request an increase in your credit line.
Fees
Your creditworthiness will determine the yearly charge that is associated with your Milestone® credit card. The price can range anywhere from $35 to $99, and there are three different options available:
- $35\s$59
- The first year is only $75, and each year after that is $99
Although the yearly fee can change, the annual percentage rate (APR) is the same for all Milestone® cardholders and is always 24.9%. In light of the fact that most cards have a variable APR, this is a wonderful benefit; but, when compared to the typical APR for credit cards, the rate on the Milestone® Gold Mastercard® is quite high.
- Additionally, Milestone® Mastercard® will charge you a fee for each transaction.
You will be assessed a fee of either $5 or 5% of the amount of each cash advance you make, whichever is higher, with the cap set at $100. In addition, there is a one percent cost for international transactions; this fee is rather low when compared to the average of three percent that is charged by businesses. You could incur fees of up to $40 for late payments, exceeding your credit limit, or having a payment returned. The payment for your Milestone® credit card is due on the 25th of every month; thus, it is essential that you do not miss this date or you may be subject to significant penalty costs.