In this Review
The Milestone Gold Mastercard from the Bank of Missouri aims to assist people who have less than perfect credit and lack the funds to finance a secured card. The card offers the basic benefits from a Gold Mastercard, yet there is no option for balance transfers and the card has a high APR.
The card has a low credit limit of $300, but the high interest rate is likely to have you paying off your balance regularly. This can help you to build your credit history.
The Milestone Gold Mastercard does have an annual fee of $35 to $99, which will reduce your available credit line. Your specific annual fee is determined after pre qualification, so you won’t know what fee will apply to your account until approval.
The card has a high APR, but you can also incur a higher APR penalty that is triggered by any late payments. The penalties for late payments are also on a sliding scale and can cost as much as $40. So, if you’re not confident that you will not be able to pay your card off on time in full each month, it may not be the best choice for you.
However, there are zero cash advance transfer fees for the first year. After this introductory period, the fees are 5% or $5, whichever is greater per transaction. There is a cap of $100 to these fees. You should be aware that interest will be charged from the date of your cash advance.
On Bank of Missouri Website
Sign up Bonus
24.90% - 29.90%
$35 - $99
Balance Transfer Fee
NoCredit / Bad Credit
Card & Issuer Reputation
- 3.6/5 on WalletHub customer reviews (+4,200 reviews): WalletHub customer reviews allow customers to post positive, negative, or neutral reviews about marketplace experiences.
- 2.1/5 on CreditKarma ( +400 reviews): Customers can express their opinion on CreditKarma website. It reflects the overall measurement of reviewer satisfaction, represented numerically from 1 to 5.
- J.D Power offers the most comprehensive and independent study of customer satisfaction of card issuers . The study aims to help consumers and issuers to understand user opinions and ratings of the largest bands. It covers terms, benefits, services, communication, rewards and more. Milestone Gold wasn't participated in the 2020 study.
Let’s take a look at the benefits of the Milestone Gold Mastercard and see if it’s the right one for your wallet or not.
You can check if you qualify for the card without impacting your credit score. The pre qualification process only uses a soft pull credit search, so you won’t damage your credit score even if you don’t get approval.
Milestone does not rely solely on your credit score to determine whether you qualify for this card. Although there are no guarantees, you may qualify for the card even if you have poor or bad credit.
Once you receive your new card, you can log in to the secure Milestone website to create a password. You can then manage your account online, to check your balance, pay your bills and more.
Unlike many cards with poor credit, the Milestone Gold Mastercard is an unsecured card. It doesn’t require a security deposit to serve as the card’s credit limit.
The Milestone Gold card can help you to build your credit score. All your account activity is reported to all three of the major credit bureaus. This makes it crucial to make your payments on time each month to build a solid payment record.
The card offers a number of security protection benefits including ID Theft Protection and Zero Liability protection. This means that providing you report your card lost or stolen promptly, you will not have any responsibility for any unauthorized transactions.
Currently, the Milestone Gold Mastercard does not permit balance transfers.
If your Milestone Gold application is approved, you can expect an initial credit limit of $300. This is quite low and unlike many other unsecured cards, there are no specific limits as to when and if you can qualify for a limit increase. Additionally, your credit limit will be initially reduced by your annual fee.
Another potential con of this card is that if you are late with a payment, there are interest penalties. You could incur a penalty APR of up to 29.9% APR if you are late with any payments. You can also incur a penalty of up to $40.
The annual fee for your Milestone Gold Mastercard can vary depending on your creditworthiness. The annual fee ranges from $35 to $99 per year. You won’t know how much annual fee will apply to your account until you submit an application for approval.
While it is fairly standard in cards for those with credit challenges, there are no rewards offered with the Milestone Gold Mastercard. Additionally, there are no introductory offers or preferential rates for new customers.
Once you click on the Pre Qualification button, you can expect to receive notification within a few minutes.
You can also proceed with a mail offer code. You’ll need to enter your personal code and zip code, before clicking on get started to proceed to the application.
If you obtain approval and decide to proceed or you’re using the mail offer code, you’ll need to supply some additional information for the formal application process. This includes some financial information and additional personal details.
You should then receive your card within 14 business days of approval
High interest rates, low credit limits and fees are typical of unsecured cards for poor credit customers. However, if you have a poor or bad credit score, these cards can provide an avenue to rebuild your credit.
The Milestone Gold Mastercard is typical of poor credit unsecured credit cards. This card is open to those with bad credit and you can qualify for a limit of $300. But, you need to be prepared to pay an annual fee, stiff penalties for late payments and a high APR.
However, these can encourage you to establish good financial habits and make your payments on time every month. This is a crucial part of having a good credit history.
This card also has fewer fees than other types of bad credit unsecured credit cards. Additionally, you don’t need to worry about paying a security deposit.
So, if you’re struggling with a poor credit rating, but feel confident that you can make payments or clear your balance each month, the Milestone Gold Mastercard could be a decent way to improve your credit score.
You can obtain pre approval, and manage your account online. This can help you to get your finances under control and start your journey to a solid credit history.
But, if you have the money for a secured card, it could provide a more viable option. You can find secured cards with better rates and more attractive terms that could offer a better choice in the long term.