Looking for an unsecured credit card with a poor credit score, you always run the risk of denial. Credit checks from banks hurt your score slightly but inevitably. Denial records in your credit history reduce your creditworthiness since they reveal your failed attempts to access credit cards to banks. The Milestone® Gold MasterCard® is designed to help you avoid both the dangers of denial.
Mid America Bank considers applicants with any credit score. It pays more attention to your income and debt to figure out whether you can afford another credit obligation.
To reduce the risk of denial, there is a pre-qualification form available on the Milestone card website. It serves as a quick and safe – no hard pulls – tool to estimate your chances of approval and clarify the conditions you match. If you don’t qualify for this particular card, you will see available offers from other banks.
How it works
The card may help you reach two main goals: access extra funds and rebuild your credit.
From the beginning, you access an initial credit line of $300. Not a lot but it may comes in handy in case of emergency. The remarkable thing is that during the first year of using the card, there is no cash advance fee applicable. Though remember that an interest rate for cash advances is 29.9% and it is applied on the day of transaction.
Mid America Bank regularly reports your credit activities to all the three major credit bureaus. So if your goal is building credit, make it your priority to pay off all bills on time and use up to a third of your credit limit. Doing so for several months may improve your credit score significantly.
How much it costs
This card charges an annual fee of whether $35, $59 or $75 ($99 starting from the second year). This amount is deducted from your credit limit reducing credit availability.
Additionally, the card may charge fees on late payments, returned payments, overlimit coverage, priority processing and additional copies of your statements.
The bottom lineThe Milestone® Gold MasterCard® offers a standard for the ‘bad credit’ category credit limit of $300 and an annual fee ranging from modest to high. However, it is one of the safest credit cards to apply since it has a pre-qualification form and various conditions for different levels of creditworthiness.
If you are looking for a credit card offer which can both help you rebuild your credit and provide an access to extra funds, the Milestone® Gold MasterCard® is a viable option for you.