Get an offer for the Milestone MasterCard (issued by Genesis)? Your credit probably isn’t great, and this card promises to help you fix that. Our review will help you decide if it’s the right choice.
The version of the card you get will depend on your credit. Curious? You can do an online soft-pull pre-qualification process on the card’s website. There are various fee structures.
Milestone MasterCard review — fees
- $75 annual fee the first year + $99 thereafter
- $50 account-opening fee + $25 first year + $99 thereafter
- $59 annual fee
- $25 account-opening fee + $50 first year + $99 thereafter
- $75 account-opening fee + $0 first year + $99 thereafter
- $35 annual fee
Some of these fees will be charged before you can use your card and will therefore reduce your initial credit limit.
As you can see, there’s a lot of variation. Some versions are competitive among bad-credit credit cards. Others have much higher fees.
Keep in mind that, if you ever want to cancel your card, you can avoid the renewal annual fee only if you cancel the account within 30 days from the billing statement that contains the annual renewal fee.
The APR for purchases, meanwhile, is 23.9 percent.
On the up-side, this card has a grace period
Many cards designed for those with bad credit have no grace period, meaning interest charges start building up the moment you make a purchase. The Milestone MasterCard has an interest-free grace period of 25 days after the close of each billing cycle.
MasterCard Gold benefits
MasterCard products have various tiers of benefits, the highest being “World Elite.” As a subprime product, the Milestone MasterCard does not have top-tier. But it does have some bare-minimum MasterCard Gold benefits, such as Global Service (for replacement of lost and stolen cards and emergency replacement cards) and zero liability, which means you won’t be held responsible for fraudulent purchases. These are the kind of protections you should expect from any credit card.
Milestone credit card — worth it or not?
|Base your decision on these factors|
|The offer you get Obviously the smaller the annual fee you qualify for, the more enticing this offer is.|
|How bad is your credit? Even if you have horrendous credit, you can still probably qualify for secured credit cards with annual fees of less than $50. So there are other options out there.|
Before deciding, review your options. There are plenty of cards designed for bad credit on the market, and one may be a better fit for you.
Why we gave it 1/5 stars
This card was rated based on our standards for bad-credit credit cards.
|Simple, transparent fee structure: For some offers, the annual fee changes after the first year. Some offers charge account-opening fees.|
|Grace period: Unlike other cards designed for bad credit, this card gives a grace period (time to pay your bill without accruing interest).|
|Rewards: This card offers no rewards.|
|Credit-limit increases: This card has no official policy for increasing your credit limit for good behavior.|
|Progress-tracking benefits: This card offers no services that let you track your credit-building process.|