Milestone Credit Card Review

Written by Robert Ferry on November 14, 2022
Milestone Credit Card Review

The Milestone Credit Card is unsecured. This credit is specifically for those people who hold no credit history. It also works well for people who hold little credit history. If you have some credit negatives, this credit card works well.

The Milestone Credit Card is a good option if you are conscious about your spending history. Some people love to know how much they charge and spend. If you are willing to build your credit, this card works well.

Your credit profile can reach a good level of perfection by using this card. Missouri Bank is the issuer of this credit card. The Bank of Missouri has a connection with three credit Bureaus and will report all your payment history to TransUnion, Experian, and Equifax.

This article will discuss the features of the milestone credit card. We will also discuss the benefits and drawbacks of owning a milestone credit card. The article will differentiate between a Milestone credit card with other credit cards to show a comparison. A FAQs section will be added to answer general questions related to the topic.

Annual Fee of The Milestone Credit Card

Every cardholder has to pay some fee for the credit card. The Milestone Credit Card also has some annual fees. If your card application gets approved, you will have to pay a yearly fee. The annual cost of the card depends on the information on the card.

The annual fee of The Milestone Credit Card varies from individual to individual and their data on the application. Typically, the yearly price of The Milestone Credit Card ranges from 35 dollars to 99 dollars. A user must have to pay this annual fee for the credit card.

Welcome Offer and Rewards

Some cards offer welcome offers and reward options. On the other hand, some cards do not provide any welcome offers and rewards opportunities. As a new card holder, you will not get any welcome offer of this card.

The Milestone Credit Card does not have any introductory APR offer. The Milestone Credit Card also does not offer any rewards or perks. Thus, you will need a different credit card for the bonuses and benefits. It is suitable for you to build your credit profile.

Fees of The Milestone Credit Card

Despite the annual fee, there is an additional fee for The Milestone Credit Card. This credit card has a high variable APR. The rate of another APR is 24.90 percent. There will be some charges for people who purchase stuff from abroad by using this card.

There will be an additional 1 percent foreign transaction fee for foreign purchases. In addition, the people who pay late or follow a return policy will have to pay extra charges. There can be additional charges of up to 40 dollars for late payments.

How to Use the Milestone Credit Card

There is a feature of prequalification for the ease of users. You can use this prequalification feature to see whether you are eligible for the card. There are three basic fee structures to check if you qualify for The Milestone Credit Card.

By determining your eligibility, you can check whether this credit card works well for you or not. If you use this prequalification feature, you can select your eligibility without the hard inquiry of your credit score.

The primary goal and essential purpose of the Milestone Credit Card is to improve your credit score. If you improve your credit score, you can get more features in the future. For the better payment policy, it tells you when you are spending more than you can afford.

After the approval of the Milestone Credit Card, the starting limit of this card will be 300 dollars. Mostly 300 dollars credit limit is a standard limit of credit. In most cases, you will not have the option to increase this credit limit.

After the approval of this credit card, there will be an automatic deduction. By this deduction, it means if you choose a 59 dollars annual fee, then in this case, from your 300 dollars, there will be a deduction of 59 dollars. So your amount will be 241 dollars.

Two main factors influence your credit score. The first thing about credit utilization is the credit utilization ratio. The second thing about the credit score ratio is your use of credit from the total amount you have.

Most experts on this card say that if you want to maintain your credit score, you must follow certain things. The first thing you need to follow is to keep your ratio at 30 percent or lower than 30 percent. By following this, you can maintain your credit score.

Some credit card companies give access to tools by which you can monitor and check your credit score. To prevent your credit score from the Milestone Credit Card, you will have to ensure that you are watching your credit score regularly.

Pros of the Milestone Credit Card

Every credit card has some benefits. It can serve many blessings to you. The Milestone Credit card also has some advantages which can help you. You can check your eligibility and take benefit of the edges. Here are some pros of the Milestone Credit Card.

  • For the approval of the Milestone Credit Card, you do not need any security deposit. The security deposit is just applicable to people who have good credit.
  • The Milestone Credit Card helps you build your credit history; this credit card reports to all bureaus. In addition, this credit card can maintain your credit score.
  • The Milestone Credit Card helps users with their qualifications. You can avail of the option of prequalification. This prequalification will make it easy for you to search for the proper credit.
  • There are multiple credit card perks of the Milestone Credit Card.
  • This credit card has no advance fee policy during the first year. After the first year, the annual fee rate is either 5 dollars or 5 percent of the whole transaction.
  • The Milestone Credit Card also offers an auto rental collision in case of any damage waiver.
  • The Milestone Credit Card provides an extended warranty, and price protection is available on all purchases.
  • After getting a Milestone Credit Card, you get an option for travel and accident insurance.
  • The Milestone Credit Card considers all applications with reasonable, fair credit.
  • The most important benefit of the Milestone Credit Card is that this credit card always reports to multiple bureaus about your purchase and current credit.

Cons of the Milestone Credit Card

Everything in this universe has some benefits, but along with benefits, there are always some disadvantages. Unfortunately, the Milestone Credit card also has some disadvantages. Here are some cons of the Milestone Credit Card.

  • The Milestone Credit Card has a high annual fee. The yearly cost of this credit card can be up to 99 dollars.
  • The Milestone Credit Card lacks some features. The Milestone Credit Card has a high APR.
  • The Milestone Credit Card has no particular reward program. Therefore, holding a Milestone Credit Card has no unique financial benefits.
  • The Milestone Credit Card also charges a foreign transaction fee. The rate of foreign transaction fees is 1 percent.
  • There is no option of earning rewards on every purchase with the Milestone Credit Card.
  • There is no option for a sign-up bonus for the Milestone Credit Card.
  • The Milestone Credit Card also does not follow the cashback policy like many other credit cards.
  • The Milestone Credit Card charges an annual fee of more than 99 dollars.

The Milestone Credit Card Account Protection

There are some security features of the Milestone Credit Card. In the Milestone Credit Card, there is zero liability and absolute fraud protection in the Milestone Credit Card and quality for identity monitoring of the users. The Milestone Credit Card protects the user's email address, social security, and login information. In addition, you can get the protection of your debit history and bank details.

Main Points of the Milestone Credit Card

There are many highlights of the Milestone Credit Card. By looking at these main highlights of the Milestone Credit Card, it can become easy for you to select this credit card based on your needs. Here are some main points of the Milestone Credit Card.

  • There is no reward rate for the Milestone Credit Card.
  • The Milestone Credit Card does not offer any welcome offer to the users.
  • The annual fee of the Milestone Credit Card varies from 35 dollars to 99 dollars.
  • There is no balance transfer into APR by getting the Milestone Credit Card.
  • The regular APR rate of the Milestone Credit Card is 24.90 percent. 

The Milestone Credit Card Vs Other Credit Cards

Suppose you want to apply for a credit card. The first thing you need to do is to see the whole comparison of the Milestone Credit Card with other credit cards. By this comparison, you can check which credit card is more secure.

By comparison, you will know which credit card has more valuable features. You can get accurate information according to your needs. A better guide will help you to make a better decision. Here is a comparison of the Milestone Credit Card with other credit cards.

The Milestone Credit Card Vs Petal Visa Card

The Petal Credit Card is a no-annual-fee visa card. The Petal Credit Card also works as a credit-building card. There is no security deposit on Petal Visa Card. Furthermore, the Petal Visa Card does not charge any annual fee, and there is no foreign transaction fee for Petal Visa Card. In Milestone Credit Card, there is a foreign transaction fee.

The card issuer of Petal Visa Card considers a variety of information of the cardholder. The card issuer talks about the type of information. The Petal Visa Card ensures that cardmembers further qualify for better rates, and this card examines all spending and saves the user's history. This feature also works in the Milestone Credit Card.

The Petal Visa Card also has many unique features for building a credit score. By getting a Petal Visa Card, users will have free access to their credit score. Furthermore, the Petal Visa Card tracks the purchases of the user. Therefore, if you follow your purchases, you will avoid spending more. This feature is also present in the Milestone Credit Card.

The app also has an option for a payment calculator. This payment calculator sets the budgets and tracks the payments. This app further allows the user to cancel all unnecessary subscriptions. This app also has the option to show all the cashback rewards. This option will help you determine the need for the card in your life.

The similarity between Milestone Credit Card and the Petal Visa Card is that to acquire both cards; you have to see the fee policy of both cards. For late payment, the Milestone Credit Card charges an extra fee. There is the same policy for the Petal Visa Card. It also charges up to 40 dollars as a late fee.

The Milestone Credit Card Vs Capital One Platinum Credit Card

The Capital One Platinum Credit Card can work well for you if you want to minimize costs and rebuild your credit score. The Capital One Platinum Credit Card is secure. With the domains of security, it provides you with suitable options for transactions. This feature is slightly similar to this card and the Platinum Credit Card.

The APR rate of Capital One Platinum Credit Card is variable. In most cases, the APR rate is 28.49 percent. The APR rate Capital One Platinum Credit Card is somehow higher than a Milestone Credit Card. However, Capital One Platinum Credit Card also has some additional features. These other features are reasons for some different APR rates.

The Capital One Platinum Credit Card works well for people with bad credit scores. There is a 0-dollar annual fee for the Platinum Credit Card. This card also provides a better security system for deposits. The better security system enables the users to deposit as much as they want without being worried. It is a reliable feature of the card.

After qualifying for this card, you will immediately get a credit limit of 200 dollars. It also provides an option for deposits even lower than 49 dollars. If you have a credit score limit, then you also have a choice of depositing 1000 dollars. It is suitable for the quality of your account. There are benefits for more deposit, but you also get perks with less residue.

In every case of a deposit, the Capital One Platinum Credit Card keeps your account in good standing. This card also provides an option of closing your account. In this case, all your deposits will be refunded. It means that you will keep everything. The refund of all deposits immediately is a rare thing. It is present in only some credit cards.

Further Comparison Between the Cards

Another central point of the Capital One Platinum Credit Card is that it will constantly monitor your account activity and place you for the higher credit score line in six months. In some cases, it will even take a time less than six months. Therefore, the Capital One Platinum Credit Card ensures you reach a high score as soon as possible.

If you love to have an unsecured credit card but there are some issues by which you cannot qualify for the unsecured credit card, then this Capital One Platinum Credit Card is the best option for you. To open this account, you will only need a little money. There is also an option of partial payments in this Capital One Platinum Credit Card.

FAQs

Now that you have understood about the Milestone credit card let us look at some of the commonly asked questions that people may have concerning this card.

What is Milestone Credit Card?

A Milestone Credit Card is a credit-building card for everyone willing to build their credit score. But they do not have any prior credit history. It means that they are lacking in their credit. The Milestone Credit Card has a variable policy for the annual fee.

According to the variable policy, the Milestone Credit Card's annual fee depends on the user's credit. In addition, the Milestone Credit Card is unsecured. This means you will not have to pay a security deposit for this credit card.

Is there any credit limit for the Milestone Credit Card?

Like all other credit cards, the Milestone Credit Card also has a limit. The starting limit of the Milestone Credit Card is 300 dollars. Therefore, the credit limit of the Milestone Credit Card is low. However, with this low credit limit, you need to be worried and careful.

A user must ensure he does not use the available credit. If he uses his available credit limit, this credit utilization will harm the user's credit score. It will have a significant impact on the whole balance.

Who is the Issuer of the Milestone Credit Card?

There is always some banks that issue credit card and handles the stuff related to finance for the credit card company. For example, the Bank of Missouri is the issuer of the Milestone Credit Card. In addition, there are many other credit cards that the Bank of Missouri issues.

The primary purpose of this bank is to build the credit building credit cards. Like other cards this bank issues, the Milestone Credit Card is a credit-building card. If you have less credit and are willing to build credit, then the Milestone Credit can work well for you.

Is the Milestone Credit Card Good for Me?

Many people are so concerned about the suitability of the Milestone Credit Card. They want to know that either this card works for them or not. The users of credit cards have many questions in their minds. According to those questions, you can decide whether this card is good for you.

The Milestone Credit Card is a credit-building card. If you want to build a credit with a low credit score, then the Milestone Credit Card is a good option. It can quickly grow your credibility. However, if you want to use a reward-gaining credit card, it will not work because it does not offer any rewards programs. For the reward program, you will have to consult other credit cards.

Conclusion

The Milestone Credit Card is a credit-building credit card. If you have a low credit score and want to build your credit score quickly, then the Milestone Credit Card is a good option. It will give a good standing credit score in six months or less than six months. It is a good feature for you if you want credit credibility.

There is no policy of reward rate in the Milestone Credit Card. The Milestone Credit Card also does not offer any welcome offer. For people who want to join a credit card for the reward policy or other perks like that, there are better options than the Milestone Credit Card. You can consider other credit cards in this case. The Milestone Credit Card also has an annual fee. The yearly fee policy of the Milestone Credit Card is variable.

There are many credit cards that you can consider in comparison to the Milestone Credit Card. Some cards offer more APR but have more features than the Milestone Credit Card. You can consider which credit card works well by looking at your needs. A Milestone Credit Card can work well for you if you are a credit-building admirer. There are many positive reviews from people about the Milestone Credit Card. However, in most cases, the credit building requirement is the primary thing you can decide is an option for you.

The Milestone Credit Card holds a good reputation. It increases the user's credit score quickly and is a basic necessity for many people. In short, there is no final statement about the suitability of this card. It can vary from person to person. Everyone can quickly determine according to his needs and current credit score.

Article written by Robert Ferry
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