Milestone Gold MasterCard Reviews - What Is It?

DO NOT USE Milestone Gold MasterCard!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!

Milestone Gold MasterCard

The Milestone Gold MasterCard is a credit card that was specially created for applicants with poor credit. It is issued by The Bank of Missouri (earlier known as Mid America Bank and Trust Company). Today it is an FDIC-insured bank based in Dixon, Missouri, but FDIC insurance won't help you as a credit customer that much, it only confirms the legitimacy of the bank. This is considered to be one of the best subprime credit cards. Despite the low credit limit and high annual fee, the Milestone Gold MasterCard has a reasonable APR, when compared to the First Premier Bank Credit Card's 36% APR. According to, the average APR for bad credit cards is 23.77%. The Milestone Gold MasterCard has 23.9%.

To get approved you will need to pre-qualify, which will also help you to understand whether you are going to be approved for this card. Remember that pre-qualification does not guarantee any approval. The card's website claims that pre-qualification won't spoil your credit score. Once approved, you will get a $300 minimum credit limit depending on your income, creditworthiness, debt and other factors. On the downside, a part of your initial credit limit will be "eaten" by the annual fee and if you add an authorized user, you will be assessed a fee too. To avoid a high credit utilization you are recommended to pay off your fees before making any charges on the credit card. This will also keep you from getting into more debt.

Customer Reviews - Does Milestone Gold MasterCard Really Work?

There are many customer reviews about this credit card on third-party websites. The main drawback of this card is high fees. Its variable annual fee is $35, $59 or $75 (depending on your creditworthiness). Usually, paying an annual fee brings you something in return (such rewards as miles or cash back). Even those who have poor credit can get no-annual-fee credit cards with this kind of reward. Another problem linked to the Milestone Gold Mastercard is that it may be hard to rebuild your credit score with it. The reason is that the card's annual fees make up a large part of its $300 credit limit. Low credit limit for this card can make it difficult for cardholders to support a low credit utilization ratio, which is important for building good credit. Card issuers often offer credit limit increases for people who have shown themselves as responsible cardholders. For instance, the Capital One Secured Mastercard offers access to a higher credit limit after you make payments on time during the first five months. This card comes with a maximum credit limit of $300 limits this card's value a lot, though.

Until 2010, subprime credit cards would come with so many fees that the cardholder would be left with no credit line. In 2009, the CARD Act restricted the amount of fees a card issuer can charge (except for penalty fees for missed or late payments) during the first year of card membership to 25% of the total initial credit line. The card we are discussing today has $75 annual fee and $300 credit limit. This does not meet the new rule. Let us take a look at what real cardholders are saying about their experience of using the Milestone Gold Mastercard.

One cardholder complaints of too high interest rates, fast increase of late/overlimit fees and bad billing. You get penalized because of their inability to keep everything in-line and up to date. What's worse is that they don't intend to fix it either. That guy asks everyone not to stick to companies like Capital One or Genesis FS Cards (Milestone, Indigo). Another cardholder also tries to warn potential clients to be careful with this card. They don't give credit line increases, which is real crap. He could not get a single English speaking person. He used to talk to some "Dave" from Pakistan. He says that their minimum payment is $40. The man cancelled his card after having it for a year and he is happy to have other credit cards now. Many customers report that the company has horrible customer service. There is high chance that if you get fraudulent charges each of the representatives will tell you different stories. They won't care about you while you will be on the hook for the charges. One man reports that he was given a 300 limit with no chance to raise it with proper paying. Instead, they charged him $99 annual fee. It seems to be rip off! If you still have some doubts whether this card is worth applying for, read some of the following testimonials left by true cardholders of Milestone Gold MasterCard."

"I never applied for the Milestone Gold MasterCard and yet it was mailed to me. I think Credit Karma is involved with the company behind this credit card. I called them many times but was not answered. I was placed on hold for forty minutes before speaking to someone. I did research and filed a complaint with the State Attorney and Consumer Financial Protection Bureau. The latter sent my complaint to the Federal Deposit Insurance Corporation (FDIC). I also filed a complaint with the BBB. After two weeks they removed the deragatory remarks from my credit report and closed my account."

"The company behind the Milestone Gold MasterCard pull a lot of unacceptable nonsense. I had the worst experience of its kind! They tend to increase the fees all the time. To make the story short, I will just say: Do not get this card ever! I would give this card -1,000 stars if it was possible. Stay away from this card!"

"I had the Milestone Gold MasterCard for more than three years. During this period of time they never raised my limit above $300. What they did was move up my due date without informing me. As a result, I missed a payment. I tried to fight that for two years but in vain. This is the worst card I have ever owned. I am happy I have finally closed my account."

My Final Summary

The Milestone Gold Mastercard is a bad option even for those who have poor credit. This credit card charges no security deposit, but has too high annual fees. This makes it a poor choice compared to other credit cards available on the market. Other card issuers usually charge security deposits and you can get that money back when you close the account or when your credit improves. The money you sink into the card we have discussed today is gone forever. It is a horrible investment especially when you get nothing in return for these high fees. With all this in mind, we do not recommend the Milestone Gold Mastercard. Even if you have very poor credit you will be able to find better options. You should consider a secured card.

Milestone Gold MasterCard Fees and Rates

The annual fee of the Milestone Gold MasterCard is $35, $59 or $75 based on your creditworthiness. You won't be aware of the exact annual fee until you are approved. There is no cash advance fee within the first year. The cash advance fee in the second year and years after that is $5 or 5% of the advance amount. The cash advance APR is 29.9%, so try to avoid cash advances. The foreign transaction fee is 1%, which is quite low when compared to other credit cards.