The Milestone® Mastercard® normally has a credit limit of $700 upon acceptance, with no security deposit necessary.
It’s crucial to note, however, that the initial available credit may be less than the entire amount since the account’s annual fee of $175 is deducted immediately upon creation. Furthermore, the card does not have a policy for credit limit increases, therefore the initial credit limit is set for the life of the account’s activity.
What You Need to Know
The Milestone Mastercard is intended to help those with no credit history or those who want to repair their credit. It provides a beginning credit limit of up to $700, which is larger than many other cards designed for comparable customer demographics.
Features and Financial Management
Credit Limit:
- The Milestone Credit Card normally has an initial credit limit of $700.
- This limit is quite low compared to other credit cards and is not changeable.
Annual Fees:
- The yearly charge for the Milestone Credit Card varies according on the applicant’s credit profile.
- In the first year, the yearly charge might be as high as $175, decreasing to $49 in future years.
Additional Fees:
The card may also include other charges such as:
- Monthly maintenance expenses of up to $12.50, which add up to $150 yearly after the first year.
- Late payment fines of up to $40.
- Foreign transaction costs are 1% for each transaction.
Maximum Credit Limit for a Milestone Credit Card
- Standard Limit: The Milestone Credit Card generally offers a credit limit of $700.
- Initial Limit Adjustment: Cardholders’ initial credit limit may be reduced as a result of the $175 annual fee deducted at account opening.
- Limit Increase Policy: The card does not allow credit limit increases; the limit is fixed.
Increasing Milestone’s Credit Card Limit
Currently, the Milestone Credit Card does not enable credit limit increases. This card, designed particularly for those with bad credit, has a set $700 limit. For policy revisions, call their customer support at (800) 305-0330.
Getting Pre Qualified for the Milestone Credit Card.
Milestone does not provide generic prequalification. However, current Concora Credit clients may get targeted pre approved offers via email or online. To reply to a pre approved mail offer, follow the instructions and input the invitation code into the given website.
Approval of High Limit Credit Cards
A high limit credit card requires great credit, adequate income, and a low debt to income ratio. The credit limit is determined by criteria such as income, assets, and previous debt. Choosing a credit card that fits your financial profile is critical for acceptance.
Comparing with Other Cards
When compared to other credit building cards, the Milestone card stands out for its higher fees and interest rates. Alternatives such as the Capital One Platinum Credit Card may provide better rates for certain customers, depending on their demands and creditworthiness.
Milestone Credit Card Customer Service
Phone Numbers
- General Customer Service: 1-800-305-0330
- Technical Support: 1-800-705-5144
- Customer service hours are Monday through Friday, 6 AM to 6 PM PT.
Mailing Address
For correspondence, use the following address:
Concora Credit, Inc
P.O. Box 4477
Beaverton, OR 97076-4477
Conclusion
The Milestone Mastercard is an effective tool for anyone wishing to develop credit or improve a low credit score. However, it is important to assess the fees against the possible advantages and investigate other cards that may better suit your financial objectives and position.
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