Milestone® Gold Mastercard®
When you have poor or limited credit, you’re stuck with some poor choices among credit cards. The Milestone Gold Mastercard is yet another in a long list of cards that offer confusing terms and tack on unnecessary fees directed at consumers who could likely use a price break.
The only reason to get the Milestone Gold Mastercard is if you don’t have any other options and you need a credit card. It’s possible you might be able to improve your credit score, as this card reports to the three major credit reporting bureaus.
To get the card, you have to apply to be pre-qualified. After this, you’ll receive one of six different offers, all with the same fixed APR of 24.90%, but each with different annual fees and or account opening fees.
At best, you’ll qualify for a $35 annual fee. The worst offer is a $99 annual fee. These charges will seriously hamper your available credit as the maximum limit on this card is $300. If you’re stuck paying a $99 fee on a $300 limit card, you’ve already reduced your purchasing power to $201.
Although this card is a step above a payday lender, you can do better. Try a credit union or a secured card if you want a clear and fair price structure for your credit card.
Who should get this card
We don’t recommend this card.
Fees and APR
- This card has a fixed APR of 24.90%.
- The annual fee will be $35-$99, depending on creditworthiness.
- There may be an account opening fee of either $5, $25 or $50 depending on creditworthiness.
- A penalty APR of 29.9% may apply indefinitely if you make a late payment.
- There’s a late payment fee of up to $39.
- There’s a 1% foreign transaction fee for all purchases made outside the U.S.
Extras, perks and using points
This card comes with extended warranty coverage and price protections.
There are some credit educational tools on the card’s website including definitions of credit terms and links to Federal Trade Commission articles.