Looking for info on the Milestone Credit Card? Let’s break it down in simple terms! Whether you’re curious about fees, credit limits, or how to manage your card, we’ve got you covered.
What Is the Milestone Credit Card?
The Milestone Credit Card is designed for people looking to rebuild their credit. It’s an unsecured card, meaning you don’t need to put down a deposit. However, it comes with a fixed credit limit, usually between $300 and $700, depending on your credit profile.
Key Features of the Milestone Credit Card
Here’s what you should know before applying:
Credit Limit:
- The card offers a starting limit of $300 to $700.
- Unfortunately, you cannot increase your credit limit with this card.
Fees:
- First Year: $175 annual fee (no monthly fees).
- Second Year Onward: $49 annual fee + $12.50 monthly fee.
Interest Rates:
- First Year: 25% APR.
- Second Year: 28.4% APR.
Credit Reporting:
- Milestone reports to all three major credit bureaus (Equifax, Experian, and TransUnion).
- Payments are processed within 48 hours and reflected in your credit limit.
Additional Features:
- Fraud protection for secure transactions.
- Cash advance option (but beware of high fees and interest rates).
Can You Increase Your Credit Limit?
Nope! The Milestone Credit Card doesn’t allow credit limit increases. It’s designed for credit rebuilding, so the limit stays fixed at $300 to $700. If you need a higher limit, you might want to explore other credit card options.
Tips to Manage Your Milestone Credit Card
- Keep Your Balance Low: Aim to use less than 30% of your credit limit to maintain a good credit score.
- Pay On Time: Avoid late payments to dodge fees and protect your credit score.
- Monitor Your Credit: Regularly check your credit report to track your progress.
Milestone Credit Card vs. Other Cards
| Feature | Milestone Credit Card | Other Cards |
|---|---|---|
| Credit Limit | $300–$700 (fixed) | Varies (may increase over time) |
| Annual Fee | $175 (first year), $49 (after) | Varies (some have no annual fee) |
| APR | 25%–28.4% | Varies (often lower) |
| Best For | Credit rebuilding | General use or higher limits |
If you need a higher credit limit or lower fees, it might be worth exploring other credit cards. Look for cards that offer:
- Higher starting limits.
- Options to increase your limit over time.
- Lower fees and interest rates.
Milestone Credit Card Customer Service
Need help? Here’s how to reach Milestone:
- Phone: (800) 305-0330
- Hours: 6:00 AM to 6:00 PM (Pacific Time), 7 days a week.
Final Thoughts
The Milestone Credit Card is a solid option for rebuilding credit, but it comes with limitations like a fixed credit limit and higher fees. If you’re looking for more flexibility, consider exploring other cards that better suit your needs.
FAQs
Q1. Can I increase my Milestone Credit Card limit?
No, the credit limit is fixed and cannot be increased.
Q2. What’s the starting credit limit?
It ranges from $300 to $700, depending on your creditworthiness.
Q3. Are there annual fees?
Yes, $175 in the first year and $49 annually after that, plus a $12.50 monthly fee.
Q4. Can I use this card abroad?
Yes, but foreign transaction fees may apply.
Q5. How can I improve my credit score with this card?
Pay your bills on time, keep your balance low, and monitor your credit report regularly.