Credit One vs Milestone

Differences in Fees and Rates

The fees between the two cards are actually quite similar. Let's start with Credit One. During the first year, the annual fee ranges between $0 and $99. Furthermore, during the second year, Credit One could bill you your fees in monthly installments rather than one lump sum. Based on what cardholders have said, some have gotten no annual fee, some have got $35 or $45 annual fee. And the most common is probably $75 for the first year and then $99 for the second year split into monthly payments.

For milestone, you may get the following annual fees. It is either $35, $59 or ($75 for the first year and $99 thereafter).

As you can see above, the annual fees for both cards are quite similar. The main difference is that with Credit One, you have a shot a card with no annual fee. For both cards, the annual fee is charged on your first statement and your initial credit credit is reduced by the annual fee charge. If you pay it off in full, then your full credit will be available.

Both cards also do not charge any one-time application fee or monthly maintenance fees. It is just annual fee and that's it.

As far as APR goes, the Milestone card comes with a 24.9% APR regardless of what annual fee you have. For Credit One, it ranges between 19.49% and 25.49%.
 

Reward Program

Well, the word "differences" is a little misleading in this context because while Credit One has a reward program, Milestone does not. Credit One's reward program is actually a cash back program. Cardholders will get on of the following:

• 1% cash back on gas, groceries, mobile phone service, internet service, and cable & satellite TV service, or
• 1.1% cash back on dining purchases and 1% on all other purchases, or
• 1% cash back on all purchases

As far as "bad credit cards" go, Credit One is one of the rare cards that actually even have a reward program.
 

Free Credit Score

Credit One actually offers all their card holders access to a free credit score. According to calls with their reps and from consumers, it appears to be some form of score from Experian. Some even speculate that if might be a real experian FICO score but some disagree. Regardless, it is a good feature to have and most credit cards in this space do not even offer such a feature.
 

Credit Line Increase

Many rebuilders are looking at cards that will give them a credit line increase. How do these two cards stack up. Well, according to many consumers, Milestone does not give any credit increase at all.

In contrast, Credit One has a record of giving credit line increases. Some increases are automatic whereas others require and request and a fee. One of the typical ways you may get your increase is to simply pay your annual fee charge of your first statement in full. Many folks have reported that paying off that first bill in full has resulted in automatic credit line increases. Paying your bills on time and in full every month also seems to be the way to get automatic increases.
 

Which Card To Choose? Credit One or Milestone?

In terms of annual fees and interest rates, both cards are very similar though I would give the slight edge to Credit One because you have a chance to get a no annual fee version and you might get a slightly lower rate as well.

In terms of features, Credit One comes up ahead. They have a cash back reward program which Milestone does not have. They also have a track record of giving credit line increases if you pay your bills in full whereas Milestone is not known for giving any credit line increase.

Credit One also provides you with a free credit score while Milestone does not.

In the big scheme of things, both these cards are good for rebuilders because they do not charge any application fees or monthly fees (compared to their peers). However, in terms of features, Credit One comes out ahead on all fronts. Having said that, there are many folks who have both these cards. But if I were to pick, I'd go for Credit One first.