Credit cards have become an eminent part of anyone’s financial life. This is especially for a mid-class salaried person who has to wait for his/her salary to spend on something. Credit cards help them to spend now and pay later facilities and this is how they manage their financial duties.
But to get a credit card from anywhere, one has to have a good credit history and score. The card issuing company checks one’s credit score and history and finalizes whether he/she is eligible for the card or not and also decides the amount of credit. This is how the business of a credit card works.
It is really challenging for someone having a bad credit score to acquire credit cards. You wander here and there and apply for different brands with compromise of some facilities and even you don’t succeed. For the sake of knowledge, if you apply for a card and get rejected, that can further impact your score as each credit inquiry goes on your credit report.
But nothing to worry about as there are various companies that offers credit cards for bad or even negative credit score. And Milestone is one of those. Here in this post we will talk about Milestone credit card.
What is Milestone credit card?
The Milestone Credit Card also known as Gold Mastercard is an unsecured card issued by The Bank of Missouri based in st. Robert, MO for building credits. Even though this card doesn’t offer various perks like other companies do, but this card is a wonderful start for those who are struggling to get credit cards due to poor score.
Milestone offers straightforward opportunity to build and access credit. It is specially designed for those with challenging credit histories working to establish a solid financial foundations. You can pre-qualify for the card by going through this link. The good thing is that pre-qualification will not affect your credit history.
Why Milestone credit card : Benefits
Milestone is a easy to qualify unsecured card that offers various faclities to credit challenged people. This just not a credit card but a mean to make your score and history better to be used later for other credit companies.
By making regular on-time monthly payments, you can demonstrate the kind of financial responsibility that many lenders look for when evaluating your creditworthiness. Your payment history with the milestone mastercard is reported to all three major credit bureaus and making on-time payments can help you build a good payment records.
The milestone mastercard provides varoius security features like :-
Mastercard ID Theft Protection under which the company provide the thorough identity monitoring covering your social security number, email addresses, debit cards, credit cards, banks account, usernames, passwords etc.
Zero Liability Protection Gives you peace of mind knowing that you are not responsible for unauthorized transactions.
Eligibility for the milestone credit card
Anyone who is looking for building credit can apply for this card. The basic requirements for the eligibility is less complex as compared to that of other credit card companies. Here credit history and score is not considered for the approval. Even negative scorer is eligible provided he/she must follow certain norms.
The card holder must be at least 18 years old, have a valid social security number, physical address and a US IP address. And should not have had a milestone mastercard that has been charged off due to bad behaviour.
You can check your approval for this milestone gold credit card without affecting your credit score here.
Milestone credit card register/login
Once you are approved and receive your new credit card, you can create an online account where you can manage all your account and easily pay your bills.
Registration for the milestone credit card is quite simple. All you need to do is to go to this official site link. You will be encountered with the following screen where you have to fill all the necessary informations and ready to go. If you already have an account, you can simply login to your dashboard.
Milestone credit card pros and cons
All told above in the benefit section that, this is a wonderful option for a bad credit guy who has been discarded by other credit card companies. This card helps someone to build his/her credit score and history.
The Milestone Gold Mastercard is an unsecured credit card that doesn’t require any security deposit to start functioning. Generally, this feature is unavailable to people with poor credit or no credit history by other credit card companies.
It provides Mastercard ID Theft Protection under which the company provides thorough identity monitoring covering your social security number, email addresses, debit cards, credit cards, banks account, usernames, passwords etc.
Annual fee is very high as compared to other companies. Mile stone provides three levels of cards Gold 300, Gold 301 and Gold 322. For the Gold 300, the annual fee is $35 in the first year and $35 each year thereafter; for the Gold 301, the annual fee is $75 and $99 for each year thereafter; and for the Gold 322, the annual fee is $59 for the first year and $59 each year thereafter.
No rewards or earnings. As opposed to other credit card companies who provide lots of rewards and cashback offers to their customers, milestone lacks in this facility.
A low credit limit is also a downside. As this company is giving the card to credit score challenging persons, they have reduced the credit limit. If approved for a Milestone Gold Mastercard, you’ll be awarded a credit line of at least $300.
Best suited for US transactions only. For doing foreign transactions, you have to notify the company before, otherwise it may be declined due to security reasons.
For whoom this milestone credit card is?
If you have a bad credit score and history and have been discarded by other credit card companies, you may consider milestone. This is almost a nice option for all credit-challenged persons. This company also considers those whose credit history is in negative.
But if you can qualify for other credit card companies, definitely i would suggest you to go there. Milestone has lots of drawbacks like absence of rewards, low credit limit and not being suited for foreign transactions too.