Milestone Gold Mastercard Review

Updated: April 29, 2020 

milestone mastercard reviews

The Milestone Gold Mastercard is an unsecured credit card marketed toward people who want to repair their credit. Because it reports to all three major credit bureaus, it may be a good option for people who want to boost their score and rectify past credit mistakes.

However, high fees are a major drawback of this card. With an annual fee that can go as high as $99, the Milestone Gold Mastercard can be a pricey card to have in your wallet. 

Milestone Mastercard Overview

The Milestone Gold Mastercard is issued by the Bank of Missouri, which offers a range of credit cards designed for people who might otherwise struggle to get approved for credit. Because the Milestone Gold card is an unsecured credit card, it doesn't require a security deposit up front.  

However, the Milestone card also comes with high fees. While you won't have to put down a security deposit, you might have to pay an annual fee as high as $99 per year depending on your creditworthiness

On the other hand, it's generally easy to get approved for this card. The Bank of Missouri also offers the option to get pre-qualified, so you can get an idea of whether you'll be approved without racking up a hard inquiry on your credit report. 

Overall, however, the Milestone Gold Mastercard doesn't offer many perks beyond reporting to all three credit bureaus. For example, there is no rewards program, so you won't earn any cash back or other benefits. 

Is Milestone a Good Credit Card?

The Milestone Gold Mastercard is a subprime credit card, which means it has less favorable terms compared to credit cards marketed toward people with excellent credit. For example, it comes with a high annual fee and a higher annual percentage rate (APR). 

This doesn't necessarily mean it's a bad credit card. On the other hand, it's definitely not as good as other cards, including several cards made for individuals with less than perfect credit. 

If you're interested in applying for the Milestone Gold Mastercard, it's important to thoroughly understand the card's terms and conditions. For example, you should know that you'll start out with a $300 credit limit, which isn't all that generous compared to other credit cards. 

Worse, you'll pay an annual fee ranging between $35 and $99 depending on your creditworthiness. While the Milestone Gold card gets reported to all three major credit bureaus, it doesn't come with any other perks that could offset the steep annual fee. 

Ultimately, the Milestone Gold Mastercard can be a good choice if you've run out of options for rebuilding your credit. If you get this card, however, it's important to be diligent about paying your bill in full each month. 

Pros and Cons of the Milestone Mastercard

The Milestone Gold Mastercard has its pros and cons. Here's what you need to know.


Despite being a subprime credit card, the Milestone Gold card has its benefits. Here's a list of the good things this card has to offer. 

  • No security deposit required - You don't have to put down a security deposit to get the Milestone Gold card. With a secured credit card, you have to make a down payment that typically ranges around a couple hundred dollars. 

  • Reports to all three credit bureaus - If you're using it as a credit building tool, the Milestone Gold card might be a good card to have. It reports your payment activity to all three major credit bureaus, which can raise your credit score over time. 

  • Easy approval - The Milestone Gold Mastercard caters to people with bad credit. You have a good chance of getting approved even if you have a poor credit score. 

  • Widely accepted - The Milestone card is a real Mastercard, which means you can use it just about anywhere in the world.

Before you apply, it's a good idea to review the card's full terms and conditions


Unfortunately, the Milestone Gold Mastercard has quite a few negative points. Here's what to watch for. 

  • Potentially high annual fee - The Milestone Gold Mastercard has an annual fee that varies depending on your creditworthiness. You can end up paying $35 all the way up to $99 per year. 

  • No rewards program - While it's somewhat rare for a subprime credit card to offer a rewards program, there are a few cards that do. However, the Milestone card doesn't come with any type of cash back or other rewards. 

  • Low credit limit - The initial credit limit for the Milestone card is just $300. The annual fee gets deducted right off the top, further reducing your amount of available credit. 

Other Features to Know

The Milestone Gold Mastercard has a few other features you should know before you apply. 

For example, despite its potentially high annual fee, the Milestone card offers a 1% foreign transaction fee. This is a competitive rate among credit cards. 

Additionally, the Milestone Gold card doesn't charge a fee for cash advances during the first year you own the card. After the first year, the cash advance fee is 5% or $5 of the amount advanced, whichever is higher. 

The Milestone Gold Mastercard also lets you customize the look of your credit card. If you like a personalized card, you can choose from several different designs. 

Milestone Credit Card Fees

Before you apply for the Milestone Gold Mastercard, it's a good idea to familiarize yourself with the card's various fees. Here's what you'll pay as a cardholder. 

Type of Fee

Amount Charged

Annual fee

$35, $59, or $75 for the first year. In subsequent years it's $35, $59, or $99 depending on your creditworthiness



Penalty and cash advance APR


Foreign transaction fee

1% of the amount charged

Cash advance fee

$0 the first year, then 5% or $5 of the amount advanced, whichever is greater

Late or returned payment fee

Up to $40

Overlimit fee

Up to $40

Who Is This Credit Card Best For?

The Milestone Gold Mastercard is best suited to someone who wants to rebuild their credit but doesn't have the funds to come up with a security deposit for a secured credit card.

If your credit score is low, and you want to use a credit card to improve your score, the Milestone Gold Mastercard can help you accomplish this goal. However, the possibility of a high annual fee is something you should keep in mind. 

Does the Milestone Mastercard Help Rebuild or Reestablish Credit?

Credit cards can be a good tool for rebuilding bad credit. This is because your payment history is the single most important factor when it comes to determining your credit score. 

Your payment history makes up 35 percent of your credit score, which is why it's so important to pay your bills on time every month. By making small purchases each month and then immediately paying them off, you get credit for your on-time payments. 

Because the Milestone Gold Mastercard reports to all three major credit bureaus, it can help you rebuild or reestablish good credit. However, this strategy will only work if you're committed to paying your bill on time every time. 

On the other hand, the Milestone Gold Mastercard probably won't be much help when it comes to your credit utilization. Your credit utilization, which accounts for 30 percent of your credit score, is the ratio of how much available credit you have versus how much you're currently using. 

Ideally, you should aim to keep your credit utilization below 30 percent. For example, if you have a credit card with a $1,000 limit, you'll want to keep your balance below $300. 

One way to improve your credit utilization ratio is by taking on additional available credit. This is why opening a new credit card will typically help your credit utilization. 

However, the Milestone Gold Mastercard has an initial credit limit of just $300, and that amount is automatically reduced by the card's annual fee. When you're only adding a couple hundred dollars to your available credit, it's probably not going to do much to improve your credit utilization rate.   

How to Apply for the Milestone Mastercard

If you want to apply for the Milestone Mastercard, the application process is straightforward and easy. 

1. Go to the Milestone Gold Mastercard website - Start by going to the Milestone Gold Mastercard website. Click the button that says "pre-qualify now." 

2. Fill out your information - This will take you to a pre-qualification application page. Fill in your information in the required fields and click "pre-qualify now" at the bottom of the page. 

3. Receive an instant decision - According to the Milestone Gold website, you should receive an instant decision.

Keep in mind that just because you pre-qualify doesn't mean you're approved for a credit card. Once you're pre-approved, you'll need to submit a full application, which will result in a hard inquiry on your credit report.  

Milestone Mastercard Reviews 

The Milestone Gold Mastercard gets mostly negative reviews, although some reviewers have good things to say about the card's credit building benefits. 

For example, several reviewers said the card is a stepping stone to a better credit score. Others called it a "starter card" that helped them boost their credit score.  

On the other hand, a more significant percentage of reviewers had negative things to say about the Milestone Gold Mastercard. Cardholders complained of poor customer service, high fees, payments posted late, and a lack of credit limit increases.  

Alternatives to the Milestone Mastercard

A poor credit score can definitely make it tough to qualify for a good credit card. However, there are several credit cards on the market that can help you rebuild without breaking the bank. 

1. Discover it® Secured Credit Card

The Discover it® Secured credit card has no annual fee and no monthly maintenance fee. Its 22.99% interest rate is also a better deal than the 24.90% APR you'll pay for the Milestone Gold Mastercard.

Even better, the Discover it Secured card comes with an attractive rewards program that lets you earn 2% cash back up to a $1,000 max limit every quarter on gas and restaurant purchases. You'll also earn an unlimited 1% cash back on all other purchases. 

The Discover it Secured credit card requires a $200 security deposit, which acts as your credit limit. However, this deposit is returned to you when you close your account.

2. Capital One® Secured Mastercard

The Capital One® Secured Mastercard is a secured credit card, which means you'll need to come up with a security deposit to open your account. However, you can choose to deposit $49, $99, or $200 in exchange for a $200 credit limit. 

After five months of making your payments on time, you can request a higher credit limit, which can help improve your credit utilization. There are also no annual fees or monthly service fees. 

Another perk is the ability to choose your own payment date. On the downside, the Capital One Secured Mastercard has a 26.99% APR, which is higher than the Milestone Gold card's interest rate. 

3. OpenSky® Secured Visa Credit Card 

The OpenSky® Secured Visa comes with an 18.99% APR, which is a surprisingly low interest rate for a card marketed toward people with bad credit. While there is a $35 annual fee, you won't pay a monthly fee, setup fee, or any other hidden fees. 

Because it's a secured card, you'll need to put down at least $200 to get started. However, you can increase your security deposit to a maximum of $3,000 if you want a higher credit limit. 

The OpenSky® card also reports your payment history to all three major credit bureaus, making it a good card for credit building.

Milestone Mastercard FAQs

Here are some of the most commonly asked questions and answers for the Milestone Gold Mastercard. 

Does Milestone Increase Credit Limit?

Neither the Milestone Gold Mastercard website nor the card's terms and conditions page state whether cardholders can get credit limit increases. However, a number of reviewers online say they were unable to get an increase despite having the card for several years. 

How Long Does It Take to Get My Milestone Credit Card?

According to the Milestone Gold Mastercard website, once you're approved you should receive your credit card within 14 days.  

Which Bank Issues the Milestone Credit Card?

The Bank of Missouri issues the Milestone Gold Mastercard in a partnership with Genesis FS Card Services. The Bank of Missouri was founded in 1891 and is FDIC-insured.  


If you're serious about repairing your credit score, a credit builder card can be an effective way to do it. However, credit cards like the Milestone Gold Mastercard make you pay hefty fees for the privilege.

A bad credit score doesn't mean you have to settle for sky-high fees. Before you sign up for the Milestone Gold Mastercard, take time to shop around for a card with more favorable rates and terms. 

About the Author

Mike Pearson

Mike is a recognized credit expert and founder of Credit Takeoff. His credit advice has been featured in CNBC, Investopedia,, Bankrate, Huffpost, The Simple Dollar, Reader's Digest, LendingTree, and Quickbooks. Read more.

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