Milestone Mastercard vs Destiny Mastercard

Both the Milestone and Destiny credit cards are marketed and serviced by Concora Credit Inc, which used to be called Genesis Financial Services. Both cards are identical nearly every aspect except for their issuing bank. In this comparison, we will highlight how similar both these cards are and give our thoughts on both of them.

Similarities

• Fees - Both the Milestone Mastercard and Destiny Mastercard have identical fees.
  
  Both have a $175 annual fee during the first year, which declines to $49 for the second year and thereafter. From the second onwards, both cards will charge a $12.50 monthly fee (which works out to $150 annually).


• Credit Limits - Both the Destiny and Milestone Mastercard have $700 credit limits. The $700 credit limits remain fixed and it will not increase. The present version of this card replaces their old version which only had a $300 credit limit


• APRs - Both cards also have identical APRs at 35.9%. The rates are rather high though typical of credit cards for bad credit. Our suggestion is that you always pay your balance in full every month.


• 1% Foreign Transaction Fee - One of the highlights of both cards is that they only 1% on foreign transaction fees. This is in contrast to the usual 3% that most credit cards charge on foreign transactions.


• Same Mobile App and Online Account Management - You can manage both the Milestone and Destiny Mastercard through the Concora Credit mobile app and online account including setting up autopay.


• Instant Approval But No Pre-approval - The old $300 credit limit versions of Miles and Destiny required you to go through a pre-approval process (which had no impact on your credit score). The new $700 credit limit versions does not have a pre-approval process. You will face a hard pull on your credit report and you will know instantly if you are approved.

Differences

• Issuing Bank - The Milestone Mastercard is issued by Bank of Missouri whereas the Destiny Mastercard is issued by First Electronic Bank. Both these cards are serviced by Concora Credit.

Which is Better? Milestone or Destiny Mastercard?

Both the Milestone and Destiny Mastercard have identical terms and conditions. They even use the same mobile app and have the same application process. The only difference is that they are issued by different bank though they are both serviced by Concora Credit.

If you are ok with the fees and the credit limit that you will get, then you should be indifferent between either credit cards.