![]() If you do not have a mortgage, your total debt cannot exceed $20,000. If you have a mortgage, your total debt should not be more than $80,000. Mission Lane Visa is very picky about applicants total debt. If you pay your first 7 minimum payments on time, your credit limit will be increased (and in many cases double). Their annual fee is $59 and their starting credit limit normally ranges from $300 to $1,000. But their annual fee range and credit limits are better than Milestone.Īnother comparable card is the Mission Lane Visa. Merrick Bank will not approve you if you are still in the middle of bankruptcy and if you have tax liens. ![]() The credit score needed ranges from 560 to 680. Merrick Bank also has a track record of credit limit increases after that initial doubling of the initial credit. This will double if you pay your first 7 minimum payments on time. They have a starting credit limit of between $550 and $1,350. The Merrick Bank Double Your Line Visa has an annual fee that ranges from $0 to $72. 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.Īside 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 Indigo Mastercard annual fee ranges from $0, $35, $59 and ($75 for first year then $99). The Destiny Mastercard annual fee ranges from $59 and ($75 for first year then $99). For Milestone, the annual fee is $35, $59 or ($75 with $99 for the second year onwards). ![]() All these cards from Genesis FS Card Services have the same credit limits and rates. These include Indigo Mastercard, Destiny Mastercard. The first group are cards that are also issued by Genesis FS Card Services. The Milestone Gold Mastercard faces competition from two groups of unsecured credit cards. Reports to Three Credit Bureaus - Milestone reports to all three credit bureaus, Equifax, Experian and TransUnion.Īs Milestone is a Mastercard, it comes with many Mastercard benefits including:Ĭomparison with other Cards from Genesis FS Card Services You have to remember that being pre-approved does not guarantee that you will be approved eventually (though your chances are pretty good). If you are pre-approved, you can then proceed to apply and this time there will be a hard inquiry. The pre-approval process only results in a soft pull (or soft inquiry) and not a hard inquiry and thus will have no impact on your credit score. Pre-approval Process - One of the features of this card is that you first have to go through a pre-approval process. Starting Credit Limit - The starting credit limit is $300 and this limit will not increase. 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.Īnnual 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). Milestone will deny you if you have more than 2 hard inquiries during the last 6 months. One of the major reasons why folks get denied is because they have too many recent hard inquiries on their credit report. ![]() On-time payments on all debt for at least 1 year Preferably has 2 other tradelines for at least 6 months - this can include student loans or auto loans etc Not more than 2 hard inquiries during the last 6 months - this is a major factor for getting denied You will get a credit limit of $300 and Milestone also reports to all three major credit bureaus TransUnion, Experian and Equifax. 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. 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.
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