Milestone Gold Mastercard® Credit Card Review: Card for Bad Credit?

By John V

January 12, 2024   •   Fact checked by Dumb Little Man

milestone gold mastercard credit card review

No security deposit is required. This Unsecured credit card assists you in establishing or repairing your credit history.

The Milestone Gold Mastercard, which requires no security deposit, is one of the few cards that allows those with terrible credit or no credit to acquire funds without depositing any money. It has a $300 minimum credit limit.

The annual fee, the first year’s price, will be between $35 and $75. That might help you deal with some unexpected bills; however, if you carry any balance amount for months, it will be subject to an extremely high APR. The yearly charge for the Milestone Card may be as much as $99 after the second year, so you shouldn’t carry on with the debt for very long.

This term should be regarded with a pinch of salt since no unsecured credit card is perfect for those with weak credit. The Milestone card is one of the few possibilities if you actually need an emergency loan rather than merely a higher credit score.

Overview: Milestone Gold Mastercard® Credit Card Review

CardBest ForFee & CreditMore Details
milestone gold mastercard credit card review

Best For Credit Building and Bad Credit

Annual Fee: $35-99 • APR: Fixed APR of 24.9 % • Feature: Less than perfect credit is Okay

What is Milestone Gold Mastercard?

milestone gold mastercard credit card review

It is not a cakewalk to build credit. Whether you’re beginning from scratch or repairing your credit after a bad credit score, you’re limited in your options because many lenders will be hesitant to grant you a personal loan or credit card.

This Mastercard belongs to a subset of credit cards designed exclusively for poor credit. The Milestone card, like many others for those with terrible credit, is riddled with ambiguous clauses, exorbitant interest rates, and shifting annual fees. On the plus side, because it’s an unsecured credit card, it doesn’t demand a security deposit, and it transmits your credit scores to all three major credit bureaus.

How does Milestone Gold Mastercard work?

Most credit cards demand a hard pull of your credit score, and they don’t approve cards for persons with bad credit. Even if you are authorized, you may be required to pay a security deposit to obtain your new credit card. None of these conditions apply to the Milestone credit card.

You can pre-qualify with this card, which means you can check your deal before applying, so you can weigh your alternatives. Finally, no security deposit is required for this card to accept any credit approval.

This card has a very high approval rate, though you can use your card straight immediately after they have approved it. You begin with a $300 credit limit but bear in mind that the issuer deducts set-up cost and annual fee from that amount. So, your beginning credit should be around $225.

The Milestone Gold Mastercard has the following features:

  • Credit Line of $300
  • Fixed APR of 24.9 percent
  • $35-99 Annual fee There is no application fee, and you can be pre-eligible for it.
  • There are no security deposits required.

This credit card also has a web app that allows quick account access and administration. You may use the site to make a payment, challenge a charge, check your balance, and check the status of your account at any time. Best of all, there are no fees for making payments or monitoring your balances using this app.

Click Here to Get Started With Milestone Gold Mastercard®.

What are the Features of Milestone Gold Mastercard?

milestone gold mastercard credit card review

This is an unsecured credit card for persons with little or no credit history and those with minor credit issues to help build credit. You may utilize it to establish credit if you’re mindful of how much you spend on the card and make payments on time and in full. However, there are a few features you should be aware of prior to applying.

Credit Bureaus Are Notified

The Bank of Missouri card issuer will submit your payment reports to Equifax, Experian, and TransUnion, the three credit bureaus. It may assist boost your credit profile if you pay your monthly payments on schedule.

No Security Deposit Required

There is no need for a security deposit because it is an unsecured card.

Many credit cards marketed for persons building a good credit history demand a cash deposit. The money you deposit as security is usually the same as the credit limit on your card.


Your credit scores will not be affected if you request preapproval for the Milestone Gold Mastercard.  Pre-qualification does not ensure acceptance, but it might assist you in determining- if submitting a formal application for the card is worthwhile. If you complete the formalities of filling up the application form for the card, your credit reports will almost certainly show a hard inquiry. It may momentarily reduce your credit score.

Annual Fee

The annual fee for this master card is $75 for the first year and $99 thereafter. 

The annual fee will be debited from your credit line once your account is open. For instance, if your credit limit is $500, you’ll have $425 in credit after paying the $75 first-year charge.

Penalty and high-interest rate APR

For transactions, the standard purchase APR on this card is 24.99 percent.  This card does not allow you to transfer your balance. Interest costs can quickly mount up if you hold a debt.

On top of that, regardless of getting your payments back on track, you might well be charged a penalty APR of 29.90 percent if you make even one late payment. This penalty APR may stay on your card for as long as it is active, even after getting payments on track.

Late payments, exceeding your credit limit, and returned payments may result in a cost of up to $40.

The Minimum Credit Limit Is Low

It has a modest minimum credit limit of $300. Furthermore, it will deduct the yearly fee you’ll be paying for account opening from your credit line.

It may be challenging to maintain your credit use low with a low credit limit.

What is the Credit Score Requirement of Milestone Gold Mastercard?

Photo: Unsplash

This is for people with bad to fair credit scores. The recommended credit score requirement is 300 to 700 points. Unlike with certain credit-building cards, you won’t be able to browse your credit score or creditworthiness tools via the credit card issuer.

The issuer bank will send to Equifax, Experian, and TransUnion, the three credit bureaus, monthly credit records. If you make on-time monthly payments, it may help to improve your credit score.

How much does Milestone Gold Mastercard Cost?

milestone gold mastercard credit card review

APR and Cash Advance Rate

the Milestone Gold Mastercard has an APR of 24.90 percent, a penalty APR of 29.90 percent, and a cash advance rate of 29.90 percent.  It’s crucial to note that, as per the card’s user agreement, the penalty APR can be imposed forever, so if you opt to obtain this card, you should always make payments on time (within 25 days following the end of the billing cycle).

Annual Fees

The annual fee might be relatively high based on your credit ratings, ranging from $35 to $99 (Based on your credit profile, your annual fee might be $35 the first year, $75 the second year, and $99 the third year.) Because there is a modest credit limit on the Milestone Gold Mastercard of a mere $300, the annual fee can eat into the card’s initial credit, raising your credit use ratio and making credit-building more difficult.

Foreign Transaction Fees & Cash Advance Fees

On a positive note, the foreign transaction fee is relatively low at 1% (usually 3%), and the Milestone waives off a cash advance fee of 5% or $5 (whichever is larger, not to exceed $100) is waived off during the first year.

Click Here to Get Started With Milestone Gold Mastercard®.

For Whom Is Milestone Gold Mastercard Best For?

milestone gold mastercard credit card review
Photo: Unsplash

This Mastercard is for people with bad credit (a credit score of 300 to 579) who wish to develop or recover their credit history. It’s also for individuals who don’t want to (or can’t) pay the security deposit necessary as it is not an unsecured card, which is the most popular option for those with bad or no credit who want to repair their credit.

In comparison to the issuers of other rival cards, Milestone is less specific about the size of the credit limit you’ll get at first and whether or not it will expand in the long run—other than offering a minimum credit limit of $300.

Because of this discrepancy in specifics, the Milestone Gold Mastercard is better suited to those who want to develop credit than those who wish to use a card with an increased credit limit.

Like many other cards geared at credit-challenged customers, the Milestone Gold Mastercard has a fixed and relatively high APR of 24.9 percent. Because of that rate, the card isn’t suitable for consumers who want to keep a balance on their account because interest costs can rapidly build up.

Milestone Gold Mastercard Pros and Cons


No Security Deposit: You will not be required to put up any money to get approved for this secured card. This credit card might be pretty enticing if you're living hand to mouth, don't have any funds, and need to develop credit.

Pre-qualification: It is possible to get approved without a rigorous credit investigation.

Accessible to people with bad credit scores: When you're new to credit or trying to repair bad credit, getting a credit card might be challenging. Anyone may check to see whether they're pre-qualified for this credit card without damaging their credit score.


High Annual Fees: This card features a range of cost schemes, resulting in a hefty annual fee. Depending on your credit profile, it may charge you a $35 yearly fee, followed by a $75, followed by a $99 fee.

No Rewards program: Rewards may not be a significant priority when your main objective is to enhance your credit. However, you may get it with other cards if you want both.

The credit limit is low: The Milestone Gold Mastercard has a credit limit of $300, including the set-up charge and annual fee. As a result, you could only have $225 available credit when you first get your card.

Milestone Gold Mastercard Compare to other Cards

Credit CardAnnual FeeCredit RequirementWelcome Bonus
Milestone Gold Mastercard$35 - $99350 - 850Not Specified
Petal 2$0NoneNot Specified
Indigo Platinum Mastercard$75 - $99NoneNot Specified
Opensky Visa$35300 - 689Not Specified

Click Here to Get Started With Milestone Gold Mastercard®.

Milestone Gold Mastercard vs. Petal 2



The building or repairing credit takes time, and paying a few hundred dollars for a secured credit card deposit and not knowing when you’ll receive it back might be frustrating. The Milestone credit card does not need a security deposit, as it is a secured card, and you may apply even if you have terrible, restricted, or no credit.

For Petal 2 Visa card, you need an excellent credit score to qualify or if you are with no credit history. The issuer examines your banking history, verifying your income and on-time bill payments in both cases. That calculates a “Cash Score” to assess your trustworthiness.

>> Full Article: Petal 2 Visa Credit Card Reviews: Cash Back No Fees Visa Credit Card?

Milestone Gold Mastercard vs. Indigo Platinum Mastercard



The Milestone Gold Mastercard may allow you to get a credit card even if your credit is fair or even bad. Nevertheless, that may not be enough to warrant applying for this card; it also demands no security deposit.

However, the card has an annual fee of up to $99 that is applied to the card and reduces the credit limit.

This card is virtually identical to the Indigo Platinum Mastercard, which has many of the same features as this one. On the other hand, that second card is issued by a minor regional bank and provides a no-fee version as well as two variants with an annual fee based on creditworthiness.

>> Full Article: Indigo Platinum Mastercard Review: Fast and Easy Card Process

Milestone Gold Mastercard vs. Opensky Visa



With Opensky Visa, ask for a minimum of $200 and a maximum of $3,000 security deposit. Secured credit cards need a refundable security deposit, which they use to establish your credit limit. If you don’t pay your bill, the issuer maintains this deposit as collateral. However, this is also a good option if you don’t have a good credit history.

Although a Milestone card is also a good option to build your credit if it’s fair to the poor, yet a security deposit is not required with the Milestone Gold Mastercard as needed by other similar cards like Opensky Visa.

>> Full Article: OpenSky Secured Visa Credit Card Review: No Credit Check Requirement

Conclusion: Is Milestone Gold Mastercard Worth it?

milestone gold mastercard credit card review
Photo: Unsplash

The Milestone Gold Mastercard may allow you to get a credit card even if your credit is fair or even bad. Nevertheless, that is not enough to warrant applying for this card over other choices that serve the same purpose. The card has a whopping annual fee of up to $99 that eventually reduces the credit limit, at least until you pay it off. Its credit limit is very little at $300, and it’s unknown how much your limit will be or whether it will increase if you’re using the card wisely in the future.

Milestone Gold Mastercard FAQs

What is the highest credit limit for Milestone Gold Mastercard?


You are entitled to a credit line of at least $300 after the approval of a Milestone Gold Mastercard. There was no mention of a maximum credit limit for the first credit line. This maximum amount, which may be as high as $1,000, is available on several other unsecured cards intended for those with bad credit.

Unlike the other cards, Milestone does not state whether or not the restriction can be lifted after a certain period of time. However, with the Milestone Gold Mastercard, you don’t get your entire limit in available credit.

Does Milestone Gold Mastercard Do a Hard inquiry?

Yes, the Milestone Credit Card does a hard pull.

You may apply for the Milestone Credit Card online, and because it is a soft pull, it will not affect your credit score. If you preapprove and want the card, you’ll have to fill out an official application, resulting in a hard pull.

An applicant’s credit score will typically decrease 5-10 points due to this hard pull. With prudent credit management, most people’s scores recover in 3-6 months, but it might take up to a year.

Is Milestone Gold Mastercard good for building credit?

The Milestone Gold Mastercard has the drawback of making it tough to restore your credit score. The reason for this is that the card’s annual fee eats up a significant chunk of its $300 credit limit. Because of the card’s low credit limit, it may be difficult for cardholders to keep a low credit use ratio, which is essential for better credit.

Click Here to Get Started With Milestone Gold Mastercard®.

John V

John is a digital marketing master's student who enjoys writing articles on business, finance, health, and relationships in his free time. His diverse interests and ability to convey complex ideas in a clear, engaging manner make him a valuable contributor to these fields.

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