Milestone Credit Card Review: Evaluating its Benefits and Drawbacks

Are you tired of your credit history hindering your financial progress? Imagine a world where every step taken towards improving your credit is celebrated. Enter the Milestone Credit Card – an innovative solution that aims to help individuals rebuild their credit while providing a host of benefits and valuable perks along the way.

In this comprehensive review, we will delve into the various advantages and disadvantages of this remarkable card, empowering you to make an informed decision about whether it’s the right fit for you. Get ready to transform your credit journey with Milestone!

Overview of Milestone Credit Card

The Milestone Credit Card is a new credit card that is being marketed as a way to help improve your credit score. The card is issued by the First National Bank of Omaha and is currently available to consumers in all 50 states. The Milestone Credit Card has several features that make it unique, including:

• No annual fee
• A credit limit of $500
• A variable APR of 24.99%
• A grace period of 21 days
• Access to online account management tools

One of the main selling points of the Milestone Credit Card is that it can help you improve your credit score. By using the card responsibly and making on-time payments, you can gradually improve your credit score over time. This can be helpful if you’re looking to eventually qualify for a lower interest rate on a mortgage or auto loan.

Another benefit of the Milestone Credit Card is that there’s no annual fee, which means you can keep using the card without having to worry about paying any additional fees. The card comes with access to online account management tools, which makes it easy to keep track of your spending and payment history.

Overall, the Milestone Credit Card is a great option for people looking to build or rebuild their credit score. With no annual fee, a low APR, and access to online account management tools, it’s a convenient and cost-effective way to start improving your credit score.

Benefits of the Milestone Credit Card

If you’re looking for a new credit card, the Milestone Credit Card may be a good option for you. In this review, we’ll take a look at the benefits and drawbacks of the Milestone Credit Card to help you decide if it’s the right card for you.

One of the main benefits of the Milestone Credit Card is that it offers a 0% APR introductory rate on purchases and balance transfers for the first 12 billing cycles. After that, the APR will be 14.49% – 24.49%, based on your creditworthiness. This can be helpful if you need to make a large purchase or transfer a balance from another card with a higher interest rate.

Another benefit of the Milestone Credit Card is that it offers a rewards program. You’ll earn 1% cash back on all purchases, 2% cash back at grocery stores, and 3% cash back on gas station purchases. There is no limit to the amount of cash back you can earn, and you can redeem your rewards as statement credits or checks.

One drawback of the Milestone Credit Card is that it has an annual fee of $39. This fee is waived in the first year, but it’s something to keep in mind if you’re considering this card long-term.

The Milestone Credit Card has some great benefits that could make it a good choice for your next credit card. Be sure to compare its features and benefits to other cards to make sure it’s the right choice for you.

Drawbacks of the Milestone Credit Card

There are a few potential drawbacks to using the Milestone Credit Card that consumers should be aware of before signing up.

First, the card has a relatively high APR of 26.99%. This means that users who carry a balance on their card will accrue interest charges at a rate that is significantly higher than average. For consumers who are not diligent about paying off their credit card balance in full each month, this could end up costing them a significant amount of money in interest fees over time.

Additionally, the Milestone Credit Card does not offer any sort of rewards cash-back program. While this may not be a deal-breaker for some consumers, others may prefer to use a credit card that offers some type of incentive for spending.

The Milestone Credit Card has a foreign transaction fee of 3%. This means that users will be charged an additional fee whenever they purchase in a currency other than US dollars. For travelers or those who frequently make online purchases from overseas retailers, this could add up to significant additional costs over time.

How to Apply for Milestone Credit Card and Fees Involved?

If you’re looking to rebuild your credit, the Milestone Credit Card could be a good option. It offers a high credit limit with no annual fee and a reasonable APR. You can also receive your credit score for free, which can help you track your progress.

To apply for the Milestone Credit Card, you’ll need to provide some personal information like your name, address, and social security number. You’ll also need to give them an idea of your financial situation, including your income and other debts you may have.

If you’re approved, you’ll likely be given a credit limit of $300. This is relatively high for a card designed for people with bad credit. There is a $39 annual fee, but it’s not charged until after the first year. After that, the APR is 29.99%.

The Milestone Credit Card is a decent option if you’re trying to rebuild your credit. The high credit limit and lack of annual fees are both positive features. However, the relatively high APR means that this card should only be used for emergency expenses or infrequent purchases. If you carry a balance from month to month, the fees and interest will quickly outweigh any benefit the card may have offered.

Evaluating the Rewards Program

The Milestone Credit Card offers a rewards program that allows cardholders to earn points for every purchase they make. Points can be redeemed for merchandise, travel, and other valuable benefits. The program is designed to give cardholders the best possible value for their spending.

To assess the value of the Milestone Credit Card rewards program, we need to consider how many points can be earned on average per dollar spent. Based on our research, cardholders can expect to earn 1 point per dollar spent on eligible purchases. There are no blackout dates or restrictions on how points can be redeemed, which makes the program very flexible.

In terms of redeeming points, cardholders have several options. They can redeem points for merchandise at Milestone’s online store, or they can redeem points for travel through Milestone’s travel partner, Expedia. Points can also be used to pay for statement credits or toward the purchase of gift cards. Redemption values will vary depending on how points are used, but in general, 1 point is worth $0.01 when redeemed for merchandise, travel, or gift cards.

We believe that the Milestone Credit Card rewards program is a good value proposition for cardholders who frequently use their card for everyday purchases. The ability to earn and redeem points with ease makes the program especially rewarding for those who take advantage of it.

That said, it’s important to note that the rewards program is not designed to be a substitute for disciplined financial management. Cardholders should always strive to pay their balance in full every month while also taking full advantage of the rewards program. Doing so will help ensure they get maximum value out of their credit card and earn the most rewards possible.

Evaluating Customer Service Support

When it comes to credit cards, customer service support is an important factor to consider. After all, if you ever have any problems with your card, you’ll want to be able to reach customer service easily and get the help you need.

Milestone offers 24/7 customer service support via phone and email. In our experience, the customer service reps were polite and helpful, and they were able to resolve our issue quickly. We didn’t have to wait on hold for very long either. We were pleased with the quality of Milestone’s customer service support.

Conclusion

In our opinion, the Milestone Gold Mastercard is a great option for people with bad credit. It offers a low APR on purchases and cash advances, as well as a reasonable annual fee. Additionally, there is no balance transfer fee, which can save you money if you need to transfer your balance from another card. The biggest drawback of the Milestone Gold Mastercard is the lack of rewards or perks. However, if you are simply looking for a way to establish or rebuild your credit, this card could be a good option for you.