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Milestone® Mastercard®
REVIEW

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49 CARDHOLDER REVIEWS
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By : Mr Credit Card

  • Annual Fee = $35, $59, or $75 for 1st Year, then $99
  • APR = 24.99%
  • No monthly fee or one-time processing fee
  • Credit Limit = $300
  • Reports to Equifax, Experian and TransUnion


Pros Cons
Reasonable Annual Fee Credit limit of $300 does not increase
No Monthly Fee or one-time application fee No mobile app
No One-time application fee  
No-fee payment methods  


At A Glance: Great for Post BK

The Milestone credit card from Genesis Financial Services is a rebuilder card that is ideal for those who have just been discharged from bankruptcy or rebuilders who have credit scores of at least 550 and very little derogatories on their credit report and are looking for a low cost unsecured credit card to rebuild their credit. The annual fee ranges between $35 and $99 and unlike many of it's peers, they do not charge any monthly fee or one-time processing fee. You will get a credit limit of $300 and Milestone also reports to all three major credit bureaus; TransUnion, Experian and Equifax.


Requirements

  • Credit score from 550 to 650
  • Not more than 2 hard inquiries during the last 6 months - this is a major factor for getting denied
  • Preferably has 2 other tradelines for at least 6 months - this can include student loans or auto loans etc
  • On-time payments on all debt for at least 1 year
  • No tax liens
  • Minimum income of $20,000
  • Checking Account required


One of the major reasons why folks get denied is because they have too many recent hard inquiries on their credit report. Milestone will deny you if you have more than 2 hard inquiries during the last 6 months. If you do have many inquires, you you should either go on gardening for a while or perhaps consider credit cards with no credit checks.


Card Details

Annual Fee $35, $59 or $75 1st Year, then $99
Application Fee N.A.
Monthly Fee N.A.
APR 24.9%
Intro APR N.A.
Grace Period 25 Days
Late Fee Up to $40
Over-the-Limit Fee Up to $40
Penalty 29.9%
Foreign Transaction Fee 1%
Cash Advance APR 29.9%


Annual Fee - When you apply for the Milestone, you might get an annual fee of either $35, $59 or ($75 for the first year, then $99 subsequently).

Starting Credit Limit - The starting credit limit is $300 and this limit will not increase.

Pre-approval Process - One of the features of this card is that you first have to go through a pre-approval process. The pre-approval process only results in a soft pull (or soft inquiry) and not a hard inquiry. If you are pre-approved, you can then proceed to apply and this time there will be a hard inquiry. You have to remember that being pre-approved does not guarantee that you will be approved eventually (though your chances are pretty good).

Reports to Three Credit Bureaus - Milestone reports to all three credit bureaus, Equifax, Experian and TransUnion.


Mastercard Benefits

 

As Milestone is a Mastercard, it comes with many Mastercard benefits including:
  • Mastercard ID Theft Protection
  • Mastercard Global Services
  • Mastercard Airport Concierge

You can see full details here.


Different Designs

Milestone has 4 other different designs to choose from: Pink Flower, Tropical Beach, Black and Dark Blue Color.

pink design blue design black design blue green design


Comparison

Card Annual Fee Upfront Fee Monthly Fee APR Starting Limit Mobile App
Milestone Mastercard $35 to $99 N.A. N.A. 24.90% $300
Indigo Mastercard $0 to $99 N.A. N.A. 24.90% $300
Destiny Mastercard $59 to $99 N.A. N.A. 24.90% $300
Merrick Bank Double Your Line Visa $0-$72 N.A. N.A. 29.99% $550-$1,350
Mission Lane Visa $59 N.A. N.A. 29.99% $300-$1,000
Total Visa $75 1st Year
Then $48
$89 $0 1st Year
$6.25/m
34.99% $300
Revvi Visa $75 1st Year
Then $48
$89 $0 1st Year
$6.25/m
34.99% $300
Reflex Mastercard $75-$99 1st Year
Then $99
N.A. $0-$10/m 24.99%-29.99% $300 - $1,000


Comparison with other Cards from Genesis FS Card Services

The Milestone Gold Mastercard faces competition from two groups of unsecured credit cards. The first group are cards that are also issued by Genesis FS Card Services. These include Indigo Mastercard, Destiny Mastercard. All these cards from Genesis FS Card Services have the same credit limits and rates. They do however differ on annual fees. For Milestone, the annual fee is $35, $59 or ($75 with $99 for the second year onwards). The Destiny Mastercard annual fee ranges from $59 and ($75 for first year then $99). The Indigo Mastercard annual fee ranges from $0, $35, $59 and ($75 for first year then $99). So from an annual fee perspective, Indigo gives you a shot at a zero annual fee card wherea Milestone's lowest annual fee starts at $35.

Other No Monthly Fee Cards

Aside from credit cards from Genesis Financial Services, there are other cards which are like Milestone Mastercard in that they only charge an annual fee and no monthly fee or one-time processing fee.

The Merrick Bank Double Your Line Visa has an annual fee that ranges from $0 to $72. They have a starting credit limit of between $550 and $1,350. This will double if you pay your first 7 minimum payments on time. Merrick Bank also has a track record of credit limit increases after that initial doubling of the initial credit. The credit score needed ranges from 560 to 680. Merrick Bank will not approve you if you are still in the middle of bankruptcy and if you have tax liens. But their annual fee range and credit limits are better than Milestone.

Another comparable card is the Mission Lane Visa. Their annual fee is $59 and their starting credit limit normally ranges from $300 to $1,000. If you pay your first 6 minimum payments on time, your credit limit will be increased (and in many cases double). Mission Lane Visa is very picky about applicants total debt. If you have a mortgage, your total debt should not be more than $80,000. If you do not have a mortgage, your total debt cannot exceed $20,000. Mission Lane has lower annual fee and probably higher limits than Milestone.

Another card is can be compared to the Milestone credit card is the Reflex Mastercard. Their annual fee is between $75 and $99. From the second year onwards, you may be charged a monthly fee between $0 and $10 a month. Their starting limit is either $300, $500, $750 or $1,000. If you credit is on the upper end of the "bad credit spectrum" (ie 600 to 640), you are likely to get a card with a $75 annual fee and a starting credit limit of either $750 or $1,000. If you pay your first 6 minimum payment on time, your credit limit will double. Once again, in terms of credit limits, Reflex is much better than Milestone.

Lower Fees Than These Peers

The other group of cards that Milestone competes with are card that have higher fees. These cards not only charge an annual fee, but also a monthly fee and sometimes a one-time application fee. These cards include Revvi Visa and Total Visa. One of the reasons that these cards have higher fees is that they tend to be easier to get approved than Milestone.

Lacks some features compared to it's peers

While the Milestone credit card is very competitive in it's fees compared to it's peers, it lacks certain features that many have. For example, they still do not have a mobile app though you can manage your account online. They also do not provide free Vantage credit scores which some of their peers like Credit One and Continental Finance are offering. Some cards like Credit One and Aspire Mastercard also offer cash back rewards.


Pros

  • No Monthly Fee or One-time Application Fee - Unlike some of it's competitors, Milestone does not charge any monthly fee or one-time application fees.

  • Approves those who have been recently discharged of bankruptcy - Unlike many of it's peers, Milestone will approve you if you have been discharged from a bankruptcy.

  • Most payment methods are free - Milestone does not charge any fees whether you pay by phone or online. This is in contrast to some issuers like Credit One that impose a small fee depending on how you pay your bills.


Cons

  • No Credit Limit Increase - Unfortunately, Milestone does not increase your credit limit from the $300 starting limit you get when you first get the card. For this reason, it is not a card to get if you want to increase your overall credit limit to improve your credit utilization ratio.

  • No Mobile App - At this moment, Milestone has no mobile app. This is really not keeping up with the times because many of their peers have one.


Our Take: Ideal for those with BK and for a 1st or 2nd unsecured card

After reviewing and evaluating the features of the Milestone Mastercard, I have come to the conclusion that Milestone will make a great card for some rebuilders, but not for others. Because it approves folks who have been discharged from bankruptcy, this is an ideal card for those who have just emerged from BK. As it only charges an annual fee and not any monthly fee, it is also an ideal card for rebuilders who want to go the unsecured route. It is most ideal as a first unsecured credit card. It is also appropriate for those who already have a couple of secured credit cards and are looking to make the jump to an unsecured credit card. You should ideally have a credit score of at least 550 and very few derogatories (or baddies as they call it) on your credit report.

Because Milestone does not increase your credit limit, it is not ideal for rebuilders who already have a few unsecured credit cards. Getting another one with a $300 limit isn't going to help with increase your overall credit lines or reduce your overall credit utilization ratio.

As Milestone requires that you go through a pre-approval process with just a soft pull and no impact on your credit scores, you should definitely see if you get pre-approved. In fact, you should actually try to get pre-approved for cards that allow you to go through that process at the same time. That way, you can see if you get pre-approved for more than one card and apply for the best offer. Cards that include soft pull pre-approval process include Merrick Bank Double Your Line Visa and Reflex Mastercard.

To sum, after reviewing and evaluating this card, we give it a 3.8 star out of 5 for it's reasonable annual fee, soft pull pre-approval process, it's acceptance of BK applicants and it's consistent reporting to the three major credit bureaus. It does face competition from other unsecured credit cards. However, rebuilders who are looking for an unsecured credit card should definitely consider the Milestone Mastercard.

Here are a couple of cardholder comments on this card:

I started my rebuild journey with Milestone. I know it isn't ideal but I burned many a banks in my chapter 7 so I decided to give Milestone a chance. The annual fee is only $35 (for me). The banks I burnt include Discover, Barclays, Amex, Citi, First Premier and Credit One.

I kept the card for a year and as I know I wouldn't ever get a CLI and I had AF. I canceled it during the 12th month to avoid the next annual fee. The card was definitely early in my rebuild but it served its purpose. My score has increased 70 points since then.



I had the Milestone card when I first started rebuilding. Am Keeping it for now as They do NOT charge a monthly maintenance fee like other cards. My annual fee was $59, which was OK for me. The only downsides are the that there is no credit limit increase from $300.

But it's better than most predatory cards out there. I kept it (about 1 year and 9 months) until I started getting great cards. It will definitley help your credit files for rebuilding.



Milestone Pre-Approval Application

To apply for the Milestone credit card, you first have to get pre-approved. The pre-approval process involves a soft pull and does not leave a hard inquiry on your credit report. If you are pre-approved, you will be given the the terms and conditions of your offer. The most important will be which annual fee you will get ($35, $59 or $75 then $99). If you are happy about the offer, you can then proceed to apply. The actual application process does result in a hard inquiry (remember that just because you are pre-approved does not mean you will definitely be approved although your chances are pretty good).

Reminder: Before you apply, please remember Milestones minimum criteria which are:
  • Credit score from 550 to 650
  • Not more than 2 hard inquiries during the last 6 months - this is a major factor for getting denied
  • Preferably has 2 other tradelines for at least 6 months - this can include student loans or auto loans etc
  • On-time payments on all debt for at least 1 year
  • No tax liens
  • Minimum income of $20,000
  • Checking Account Required

Below is a screen shot of their pre-approval application page:

preapproval application page preapproval application page prequal fail alternative offer


As you can see from the screen shot above, you need to fill it basic information like you name, date of birth, social security number, email address, phone number and your address. If you are approved, you will get your offer and terms (most important will be the annual fee you will get). You will then have to fill in additional information like your income and expenses, if you have a mortgage and if you have a checking account to apply for the offer that you got. If you are not pre-approved, you will be offered the First Progress Platinum Prestige Card. If you decide to go the alternative offer instead, we suggest you come back to this site and read our review first before pulling the trigger.


FREQUENTLY ASKED QUESTIONS

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Who is Milestone?

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Who is Milestone?

Milestone is issued by The Bank of Missouri, a well-established FDIC-insured Missouri bank which is founded in 1891. Genesis FS Card Services, Inc. is the servicer of this program.

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I need to speak to someone before applying, would can I contact?

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I need to speak to someone before applying, would can I contact?

You can contact customer service at 1-866-453-2636 (from 6:00am to 6:00pm, Pacific Time, seven days a week).

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Can I apply over the phone?

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Can I apply over the phone?

No, you have to apply online. You can click on the apply button on this page and take it from there.

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Can you explain why I have to get pre-approved or pre-qualify?

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Can you explain why I have to get pre-approved or pre-qualify?


Milestone requires that you pre-qualify first. Pre-qualification does not result in a hard credit pull. Rather there is just a soft pull. If you do not pre-qualify or get pre-approved, you will save yourself a hard pull.

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How long does it take to get Milestone credit card?

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How long does it take to get Milestone credit card?

It might take up to 14 business days after you get approved. If you do not receive your card within 21 days after being approved, please contact our Lost/Stolen Department immediately at 1-888-260-4532. They are available 24 hours, seven days a week.

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What is the starting limit of Milestone?

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What is the starting limit of Milestone?

According to Milestone, $300 is the minimum credit limit.

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Does Milestone increase credit limit?

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Does Milestone increase credit limit?

No, they do not.

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Can I transfer a balance to Milestone credit card?

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Can I transfer a balance to Milestone credit card?

No, you cannot.

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Can I use the Milestone Mastercard to get a cash advance?

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Can I use the Milestone Mastercard to get a cash advance?

Yes, subject to credit approval, you can use the Milestone card for cash advance. You can call and request a PIN number to use your card at ATMs.

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Can I use the Milestone credit card abroad?

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Can I use the Milestone credit card abroad?

Yes, you can. But you have to inform us or your card may be declined. You can call us at 1-866-453-2636 to set up a travel alert.

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What are the ways to pay Milestone credit card?

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What are the ways to pay Milestone credit card?

There are a few ways to pay your Milestone bills.
    1. Pay online
      Pay over the phone
      Pay through Moneygram
      Check or Money Order through the mail

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What information do I need to use Moneygram to pay my bills?

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What information do I need to use Moneygram to pay my bills?

You have to go to the nearest Moneygram location. The Company name to use is Genesis FS Card Services and the Receive Code is 4911.

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When will my online payment post to my account?

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When will my online payment post to my account?

It will post the same day as long you pay before 5pm PST. If you pay after 5pm PST, it will post the next day.

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Will there be a hold after I make my payment?

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Will there be a hold after I make my payment?

You may experience a hold of up to 14 days if Milestone needs to verify your funds.

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Can I apply for Milestone Mastercard if I have been denied before?

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Can I apply for Milestone Mastercard if I have been denied before?

You can apply only after 60 days since your last denial.

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Does Milestone credit card report to credit bureaus?

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Does Milestone credit card report to credit bureaus?

Yes, they report to all three major credit bureaus.


Customer Service Information

Mail

Genesis Card Services
P.O. Box 4477
Beaverton, OR 97076-4477

Toll-Free Customer Service Number

1-866-453-2636

Milestone Mastercard Payment

Genesis FS Card Services
PO Box 84059
Columbus, GA 31908-4059

Milesstone Credit Card Fax Number

Fax: (888)325-4717