Good day, friends! Are you wondering whether you can increase the credit limit on your Milestone card? I have some inside information for you. It turns out that the Milestone Credit Card does not provide the opportunity to raise your credit limit. It’s an unsecured card with a $700 maximum limit, developed exclusively for those with less than perfect credit.
Credit Limit and Adjustments
The Milestone Credit Card typically has a $300 limit, which may be increased to $700 depending on the first credit review. However, this restriction is locked at account opening and will not grow over time, as verified by the card’s FAQ and several reviews.
Here is how you can increase your Milestone Credit Card limit
Fee Structure:
- The Milestone Credit Card has a unique charge structure that changes after the first year:
- First year: You pay an annual fee of $175 with no monthly expenses.
- Second Year and Beyond: The yearly charge is reduced to $49.50, but a monthly fee of $12.50 is added.
Read This Post: How Can I Pay My Milestone Credit Card?
Payment Processing and Credit Reporting:
- Timely Reporting: Milestone regularly reports to credit agencies, which helps to enhance credit scores by reflecting prudent credit usage.
- Payment Clearance: Milestone processes payments within 48 hours and promptly updates your account to reflect new amounts.
Comparing Milestone Credit Card to Other Credit Cards
| Feature | Milestone Credit Card | Other Cards |
|---|---|---|
| Credit Limit Flexibility | Fixed upon opening ($300-$700); no increases. | Possible rises over time, such as Capital One Platinum Secured. |
| Fees | $175 annual fee first year, then $49 plus $12.50 monthly. | Vary greatly; some, such as Discover it Secured, have no annual charge and provide prizes. |
| Interest Rates | Fixed APR of 24.90%. | Prices vary; secured cards with deposits are often less expensive. |
| Credit Building Features | Reports to all three major bureaus. | Similar reporting; others include extra resources, such as free credit ratings. |
| Additional Benefits | Basic Mastercard benefits, including identity theft protection. | More advantages, for example, Capital One QuicksilverOne provides cash back incentives. |
| Accessibility | Low entry barriers, accessible post bankruptcy. | Higher credit ratings or security deposits are often required; better conditions. |
Is It Possible to Increase Your Milestone Credit Card Limit?
| Milestone Credit Card Customer Service Inquire about changes to credit limit policy | |
|---|---|
| Phone Number | (800) 305-0330 |
| Available Hours | 6:00 AM to 6:00 PM, Pacific Time |
| Days | Seven days a week |
Q1. Can I raise the credit limit on my Milestone credit card?
Ans: No, the Milestone Credit Card does not allow you to raise your credit limit once it is originally established.
Q2. What is the initial credit limit on the Milestone Credit Card?
Ans: The initial credit limit might vary between $300 and $700, depending on your creditworthiness at the time of application.
Q3. Does the Milestone Credit Card report to credit bureaus?
Ans: Yes, the Milestone Credit Card reports to all three main credit agencies, which helps you establish your credit history.
Q4. Is there an annual charge for the Milestone Credit Card?
Ans: Yes, there is a $175 annual cost the first year and a $49 yearly price the following years, plus a $12.50 monthly fee beginning the second year.
Q5. Can I get the Milestone Credit Card with poor credit?
Ans: Yes, the Milestone Credit Card is intended for persons with weak credit and provides a chance to repair credit history.