Skip to Main Content

Mission Lane Visa® Credit Card review: Short-term credit building at a low cost

A noteworthy unsecured option for people with bad to fair credit scores. 

 /  7 min
Bankrate logo

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for . The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

Snapshot

3.4

Bankrate rating
Info
Rating: 3.4 stars out of 5

Bottom line

This low-cost, unsecured credit-building card could be a worthwhile addition to your wallet, especially if you want to skip paying a deposit on a secured card. However, the Mission Lane Visa could be a pricier option than most secured cards.

Image of Mission Lane Visa® Credit Card
chance of approval
Info
Apply now Lock
on Mission Lane's secure site

Best for entry-level fair credit

Mission Lane Visa® Credit Card

Rewards rate

N/A

Annual fee

Intro offer

N/A

Bad to Fair (300 – 670)
Info
chance of approval
Info
Info

Mission Lane Visa® Credit Card overview

The Mission Lane Visa® Credit Card doesn’t come with many perks and benefits, but it could make sense as a credit-building card. If you have a bad credit score or limited credit history and need a chance to boost your score, you can use the Mission Lane Visa to build credit without tying up hundreds of dollars in a security deposit. The card doesn’t charge any of the hidden fees common among subprime cards, and its annual fee — if you’re assigned one — is reasonable for an unsecured card in this credit range.

However, the card’s unimpressive starting credit limit and potential annual fee mean a traditional secured credit card may be a better way forward. Not only could a secured card be less expensive, but it could also help you build credit more effectively. Since you can put down a large deposit and get a matching credit limit with some secured cards, it could be easier to keep your credit utilization low. And if you have fair or average credit, you can definitely find a lower-cost, more lucrative unsecured alternative among the best credit cards for fair credit.

  • Credit Card Cash Back

    Rewards

    • This card does not offer rewards

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Card Search

    Rates and fees

    • $0 to $59 annual fee 
    • 3 percent foreign transaction fee
    • No security deposit required 
    • 26.99 percent to 29.99 percent variable APR

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Fair

    Credit-building features

    • Opportunity for credit line increase 
    • Reports activity to the three credit bureaus
    • Mobile app and financial planning and education tools

    Expert Appraisal: Typical 
    See our expert analysis

  • Congrats

    Other cardholder perks

    • $0 fraud liability 
    • 24/7 pay-per-use roadside dispatch 
    • 24-hour support for lost or stolen cards

    Expert Appraisal: Unimpressive
    See our expert analysis

Mission Lane Visa pros and cons

Pros

  • Checkmark

    Potential for a low or no annual fee makes this an accessible credit-building option if you’d rather not deposit hundreds of dollars for a secured card.

  • Checkmark

    Mission Lane reports card use and activity to all three credit bureaus, so responsible use may increase your credit score.

  • Checkmark

    You can get a credit limit increase over time with consistent good habits, making it easier to keep credit utilization in check.

Cons

  • Carries a sky-high APR, even for a credit-building card, making it a risky choice if you’re inexperienced with credit or struggle to pay off your balance each month.

  • Plenty of secured cards charge no annual fee, and since your security deposit is refundable, can be less costly than the Mission Lane card.

  • Minimum starting credit limit of $300 isn’t impressive.

Why you might want the Mission Lane Visa

The Mission Lane Visa is a decent card for people rebuilding a bad or fair credit score. It’s a fairly low-cost option for an unsecured credit-building card and it checks the boxes on what you need to continue to see progress.

Rates and fees: No security deposit and potential for no annual fee 

The Mission Lane Visa is ideal for people who have bad to fair credit, but want to avoid a secured credit card. While you may still have to pay an annual fee, the highest amount is still less than what most secured credit card issuers require. You might also get to skip annual fee altogether if you already have some history of good credit use when you apply.

Credit-building features: Checks all the boxes

Though you may start with a credit limit as low as $300 on the Mission Lane Visa (a common starting limit for unsecured credit-building cards), the issuer gives you a chance to earn a credit limit increase by demonstrating responsible card use. If you make your card payments on time, stay within the credit limit and keep your account in good standing, Mission Lane will review your account during your first 12 months and may approve you for a higher limit. The issuer also reports all activity to the credit bureaus, which is important when you want to access your credit reports and understand how your efforts could increase your score.

Why you might want a different credit-building card

Outside of its credit-building features and accessibility to people with bad or fair credit, the Mission Lane Visa doesn’t come with many bells and whistles. If you want extra incentives like rewards or more cardholder perks, you might want to pick another card. 

Rewards: No rewards structure or welcome offer

If you’re rebuilding a bad credit score, your primary focus should be on developing good credit habits — not earning rewards. The Mission Lane Visa holds true to this principle, since it doesn’t have a reward structure or a welcome offer for new cardholders. If you want the chance to earn rewards while also building credit, you may opt for a secured card that also earns rewards, like the Discover it® Secured Credit Card.

Cardholder perks: Not much beyond basic Visa benefits

Since this Mission Lane card uses Visa as its network, you’ll get access to basic Visa benefits like $0 fraud liability and 24-hour customer service. However, virtually all Visa credit cards (and credit cards in general) come with perks like these, so this card doesn’t add anything extra. Its lack of benefits and perks limit this card’s long-term value. 

How the Mission Lane Visa card compares to other credit-building cards

Though the Mission Lane Visa card’s annual fee may be worth it for people with bad credit who want to avoid a security deposit, it’s probably not your best option. A few other unsecured credit-building cards are available with no annual fee and some secured cards require a minimum deposit that’s lower than the Mission Lane card’s annual fee.

Image of Mission Lane Visa® Credit Card
Bankrate Score
Apply now Lock
on Mission Lane's secure site

Annual fee

$0 - $59

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

Bad to Fair (300 – 670)
Info
Image of Petal® 1 "No Annual Fee" Visa® Credit Card

Petal® 1 "No Annual Fee" Visa® Credit Card

Annual fee

$0

Intro offer

N/A

Rewards rate

2% - 10% cash back
Info

Recommended Credit Score

Fair to Good (580 – 740)
Info
Image of Capital One Platinum Secured Credit Card
Bankrate Score
See Rates & Fees , Terms Apply
Apply now Lock
on Capital One's secure site

Annual fee

$0

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

No Credit History
Info

Who is the Mission Lane Visa right for?

The Mission Lane Visa may not be the best credit card for bad credit, but it can prove helpful to some, especially if you have bad to fair credit and need a card to get you to the next level. If you see yourself among any of the groups below, the Mission Lane Visa could be worth a look.

Bankrate’s Take — Is the Mission Lane Visa card worth it?

Given its relatively low annual fee, the Mission Lane Visa could make sense as a short-term unsecured credit-building card, but it’s probably not your best option overall. While it charges fewer fees than many cards in this category, a secured card with rewards, no annual fee or a lower APR will likely save you more. And if you have at least fair credit, you can avoid both an annual fee and a security deposit. That said, the card will certainly get the job done if your goal is to build credit without putting down a deposit.

Dig deeper: Is the Mission Lane Visa worth it?

Frequently asked questions

Written by
Ashley Parks
Editor, Credit cards

As a Bankrate credit cards editor, Ashley Parks is fascinated by the ways people can make credit cards work for them when armed with the right knowledge.

Edited by Senior Editor, Credit Cards

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.