The Milestone® Gold Mastercard® – Is It Worth It? [Detailed Review]

Milestone Gold Mastercard

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The Milestone® Gold Mastercard® is targeted at people with no credit or bad credit, including people who have previously declared bankruptcy. It doesn’t require a credit check to get prequalified and it is also widely accepted anywhere that accepts Mastercard, making it a good choice to help rebuild credit through your everyday purchases.

On the downside, it does have a low credit limit (with no chance to increase it), charges an annual fee based on your creditworthiness, and has a high APR that can add up to big fees if you miss a payment or don’t pay off your balance in full each month.

However, if you can maintain a good payment record, this card might be a good choice to help you build (or rebuild) credit. This article will look at all of the reasons why the Milestone Gold card can be a good card for you and also show you some alternative options.

Milestone Gold Card at a Glance

Credit CardBenefits and Info
Milestone Gold card
  • No credit check needed to prequalify
  • Reports monthly to all 3 major credit bureaus
  • Credit Limit: $300
  • Interest Rate: 24.9% fixed APR
  • Fees:
    • Foreign Transaction Fee: 1%
    • Cash Advance APR: 29.9% variable
    • Cash Advance Fee: None for the first year, either $5 or 5% after
    • Late/Returned Payment Fee: Up to $40
    • Over Limit Fee: Up to $40
    • Annual Fee: $75 to $99

The Milestone Gold card is issued by the Bank of Missouri and serviced by Genesis FS Card Services, Inc. This card is specifically designed to help rebuild credit for people with bad credit. Because this card is a Mastercard, you can use it on everyday purchases and it is widely accepted abroad.

Milestone Gold Mastercard Benefits
Image Credit: Milestone

It notes that the card “enables you to enjoy the benefits of a Mastercard without the need for a security deposit.” This card doesn’t offer the opportunity to earn any rewards like points or cash-back, however, it does come with some benefits since it is a Mastercard. These additional benefits include:

  • Mastercard ID Theft Protection
  • Zero Liability Protection (a.k.a. fraud protection)

Hot Tip: You can read more in the Mastercard Guide to Benefits that details all of the program terms and conditions.

The Milestone Gold card is an unsecured credit card, which means that you have access to a credit limit without needing to put down a security deposit. Unfortunately, the maximum credit limit offered on this card is $300, with no opportunity for credit limit increases.

In addition, your account history is reported to all 3 major credit bureaus, so this can help you establish a consistent payment record while enjoying the convenience of a credit card.

You can also use this card to take out cash at an ATM (up to your credit limit), but you will incur cash advance fees of the higher of $5 or 5% each time you withdraw money. This is free in your first year, though!

Balance transfers are not allowed with this card.

Milestone Gold Card Application

To apply now for the Milestone Gold card, head over to the website. You can securely input all of the required information in order to check your prequalification status before applying for the card!

Milestone Gold Mastercard PreQualify Application
Image Credit: Milestone

By prequalifying first, you can check whether or not you are likely to be approved for this card and avoid a hard check (and resulting dig to your credit score) if you’re concerned that you might be declined.

Bottom Line: Note that if you prequalify and choose to actually apply for a card, you will still be hit with a hard inquiry on your credit.

Once you apply, you will typically receive an answer right away. However, if the decision is pending, you can check your Milestone Gold card application status by calling 866-502-6439 and using the automated system. This system is available 24/7. If you prefer, you can also speak to a customer service representative from 6 a.m. to 6 p.m. PST every day.

Minimum Credit Score and Other Requirements

There is no minimum credit score required to be approved for the Milestone Gold card and it is meant to be a great credit-building tool. This means that it has extremely flexible credit requirements in general, including accepting applicants with a history of bankruptcies.

However, there is no guarantee you will be approved for this card even if you have a higher credit score as other factors (like income and debt) are taken into consideration.

To qualify for the Milestone Gold card, you will need to meet certain minimum requirements. To be prequalified or approved, you must:

  • Be at least 18 years old (19 in Alabama)
  • Apply from a U.S. IP address
  • Not have had a Milestone Mastercard account that was charged off due to delinquency
  • Provide:
    • Your name
    • Email address
    • Physical address
    • Date of birth
    • Social Security number
    • Monthly income and expenses

Bottom Line: Using this information, Milestone will review your income, your debt, and conduct identity verification to determine eligibility.

How to Increase Your Credit Limit

Unfortunately, the Milestone Gold card doesn’t offer any credit increases, even with a history of timely payments.

Hot Tip: You should consider a secured card if you are looking for a card with a higher credit limit. If you are able to make a larger security deposit upfront, the credit limit will generally match your deposit amount.

Milestone Gold Card Online Login

Use Milestone’s website to activate your new Milestone Gold card online and create your online account. You can even log in to monitor your Milestone Gold card account activity, pay your bill, view transactions, and check your balance through this link.

Milestone Gold Mastercard Website Login
Image Credit: Milestone

Paying Your Milestone Gold Card Bill

There are multiple options you can use to make payments on your Milestone Gold card.

Online

To access your account, log in to your account and click My Account or via the Bill Pay tab. Once you are logged in to your account, you can enroll to receive paperless statements, check your monthly bills, and make payments via direct deposit or bank transfer.

Hot Tip: You cannot use a debit card to make payments to your Milestone Gold card account.

Be sure to submit your payments by 5 p.m. PST to ensure that it’s credited on the same day.

Unfortunately, there is no Milestone mobile app at this time.

By Phone

You can make payments by phone by calling Milestone’s customer service line at 866-453-2636. A customer service agent is available between 6 a.m. and 6 p.m. PST Monday through Friday.

By Mail

You can send a check or money order to pay your Milestone bill by mail. Payments should be mailed to:

Genesis FS Card Services
P.O. Box 84059
Columbus, GA 31908-4059

Hot Tip: Milestone notes that you should allow 7 days for a check to be received and processed. This means you need to plan well in advance of your payment due date to avoid late fees and interest charges.

By MoneyGram

First, you will need to locate your nearest MoneyGram location. Then you will need the following information:

Company Name: Genesis FS Card Services
Receive Code: 4911

Benefits of the Milestone Gold Card

This card is made for those with no credit history or bad credit, so the main benefits revolve around credit-building. It is also backed by Mastercard, making it convenient to use as it is widely accepted.

No (Initial) Credit Check

Before formally applying for the Milestone Gold card, you can prequalify to see if you will likely be approved for this card (and the annual fee you would have) — all without affecting your credit score. 

This is important since a hard inquiry can lower your credit score (at least temporarily), which makes it harder to rebuild or establish your credit. You can also determine if the annual fee is worth it.

But remember that prequalification doesn’t mean you’re definitely approved. If you agree with the tentative terms and fees, you’ll still have to submit a full application for review, which will result in a hard inquiry.

Easy Application and Preapproval

The Milestone Gold card advertises itself as a good option for those with bad credit and bankruptcies, so having financial blemishes on your record won’t prevent you from being approved for this card.

This is great news for those people hoping to improve their credit score. While the credit limit is small, making consistent payments and paying off your balance each month will lead to credit score increases in no time.

Credit Building

The Milestone Gold card reports to all 3 major credit bureaus each month when your billing statement is generated. The 3 major consumer credit bureaus (TransUnion, Equifax, and Experian) will note your history of responsible payments and reflect this in your credit score.

While no credit limits are offered with this card, you can qualify for better credit cards with higher credit limits in the future.

Drawbacks of the Milestone Gold Card

If you’re trying to decide if the Milestone Gold card is the best choice for you, you should be aware that there are some big downsides to this card.

Very Low Credit Limit and No Increases

The credit limit is only $300 (with no opportunities to increase it) and is initially lower due to fees. For example, on an account that charges a $75 annual fee, your credit limit might only be $225 for the first month.

If you have a low credit limit, each purchase brings you higher to your credit limit. This makes it easy to rack up high credit utilization which can hurt your credit score. 

Hot Tip: If you have the money upfront, you might be better served with a secured credit card. The credit limit is generally as high as the amount you can set up as a security deposit.

Annual Fee

There are no opportunities to avoid an annual fee with this card. The annual fee you pay depends entirely on your creditworthiness, but regardless you will pay between $75 and $99 a year. 

Bottom Line: In short, the higher the annual fee, the less appealing this card becomes due to the low credit limit.

High APR and Fees

The regular purchase APR on this card is 24.9% for purchases, so if you carry a balance, interest charges could add up quickly.

To make matters even worse, if you make a single late payment, you could be charged a penalty APR of 29.9% for as long as you have your account open — even if you get your payments back on track. Yikes!

In addition, you will also be charged up to $40 for late payments, returned payments, or exceeding your credit limit.

How to Contact Milestone Gold Card’s Customer Service

To contact customer service, call 866-453-2636.

If you would like to use your card to access cash at ATMs, you can also call this number to request a PIN be sent to you via mail.

If you prefer to contact by mail:

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

Alternative Credit Cards (Our Recommendations)

If you’re interested in other credit-building card options, we have a few alternative recommendations.

The Secured Mastercard® from Capital One® doesn’t charge an annual fee and also provides access to a higher credit limit after the first 5 months of on-time payments, with no additional deposits needed. This card does require putting down a security deposit upfront.

Store cards might also be a good option if you do a lot of shopping at 1 retailer or are planning on making a big purchase. Cards for places such as Sam’s Club, Walmart, TJ Maxx, Amazon, and more are issued by Synchrony Bank.

Store cards typically have no annual fee, come with long 0% financing periods, and usually offer some sort of store rewards, such as free shipping or extra savings on your birthday.

Final Thoughts

The Milestone Gold card will mostly benefit those who want to improve their credit score — whether you have prior credit blemishes, or are simply starting off from scratch. This card will report your payments to the 3 major credit bureaus, so by making your monthly payments on time, you can help build your credit profile.

Keep in mind that there are other credit-building cards available and you may be able to find 1 with fewer fees or a higher credit limit. If you can put a security deposit down or qualify for a store card, they might be better options.


Frequently asked questions

Does Milestone give credit increases?

No, unfortunately, the Milestone Gold card doesn’t offer credit limit increases. The maximum credit limit is $300 and does not increase, even with responsible credit history with the card.

Can I get cash from my Milestone credit card?

Yes, you can also use your Milestone Gold card to take out cash at an ATM up to your available credit limit. Be aware that you will incur cash advance fees of the higher of $5 or 5% each time you withdraw money. This is free to do in your first year, though!

You will need to contact customer service at 866-453-2636 to request a PIN via mail to access cash at ATMs.

Is Milestone a good credit card?

The Milestone Gold card is primarily meant people with no credit or bad credit. It doesn’t require a credit check to get prequalified and it is also widely accepted anywhere that accepts Mastercard.

It is also an unsecured card meaning you can have access to a credit limit without putting a security deposit down. This can make it a good choice to help rebuild credit through your everyday purchases.

How do I pay my Milestone credit card?

There are multiple options you can use to make payments on your Milestone Gold card.

1. The easiest option is to log in to your account and make a payment. This option is available 24/7. You can make payments via direct deposit or bank transfer.

2. You can make payments by phone by calling Milestone’s customer service line at 866-453-2636 between 6 a.m. and 6 p.m. PST Monday through Friday.

3. You can pay your Milestone bill by sending a check or money order. Payments should be mailed to:

Genesis FS Card Services
P.O. Box 84059
Columbus, GA 31908-4059

4. Lastly, you can pay by MoneyGram.

What is Milestone credit limit?

The maximum credit limit offered on the Milestone Gold card is $300, with no opportunity for credit limit increases.

This card is an unsecured credit card, which means that you have access to this $300 credit limit without needing to put down a security deposit.

Christy Rodriguez

About Christy Rodriguez

Christy was born in St. Louis, Missouri, but lived in Texas the majority of her life. Now, work has her living in the Bay Area with her husband and yellow lab. Her first international travel experience was for a summer study abroad program in Italy. After that, she knew that she was destined to travel as much as possible. Luckily, her husband worked at Southwest Airlines, so they were introduced to the exciting world of “non-rev” travel.

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