Why Is the Milestone Credit Card So Bad? Is It Too Expensive?
If you're wondering why the Milestone credit card is considered expensive or why some people think it's a bad credit card, the answer has a lot to do with the type of credit it is designed to provide. This guide explains the costs, why someone with less-than-perfect credit may still consider the card, and what you can do if your credit has improved or you simply want to look at other options.
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Why Is the Milestone Credit Card So Expensive?
The Milestone credit card can be more expensive than the credit cards offered to consumers with stronger credit profiles. That's an important consideration before applying.
Cards designed for consumers with less-than-perfect credit generally come with higher costs because they are being offered to people who may have fewer available credit options. The Milestone card is designed for people who may have difficulty qualifying for many traditional credit cards, so its costs need to be considered carefully against what the card provides.
That doesn't automatically make the card useless. For someone who has limited choices because of damaged, limited, or less-than-perfect credit, getting access to an unsecured credit card may still be valuable. But it's important to understand what you're paying for and whether the card continues to make sense as your credit improves.
What Makes the Milestone Card Different?
The Milestone Mastercard is an unsecured credit card. That means you don't have to put down a security deposit to establish the account.
For someone who doesn't have the money available for a secured credit card deposit, that can be an important difference. The card can provide access to revolving credit without requiring the consumer to tie up money in a security deposit.
Milestone also advertises a $700 credit limit if approved, subject to the terms of the particular offer.
However, having access to credit doesn't mean the card is inexpensive. You should review the terms of the specific offer you receive before deciding whether the cost is worthwhile for your situation.
Is the Milestone Credit Card Really a Bad Card?
Whether the Milestone card is “bad” depends largely on what you're comparing it with and where you are in your credit journey.
If you have damaged credit and are having difficulty qualifying for other unsecured cards, a card like Milestone may provide an opportunity to establish a positive payment history without requiring a security deposit.
On the other hand, if your credit has improved and you now qualify for cards with lower costs, rewards, or more favorable terms, continuing to use a higher-cost rebuilding card may no longer make as much sense.
That's the part many people overlook. A credit card that was useful when your credit was poor may not necessarily be the right card after your credit improves.
Why Does the Milestone Card Cost More Than Some Other Credit Cards?
Credit cards are priced according to many factors, including the credit risk associated with the people they are designed to serve. Consumers with a history of missed payments, defaults, limited credit history, or other credit problems may have fewer traditional credit options available to them.
That is one reason cards designed for credit rebuilding can have higher costs than cards intended for consumers with established, stronger credit profiles.
The important question isn't simply whether Milestone costs more. The better question is whether the card's cost is reasonable for your current credit situation and whether you have better options available today.
What If You Still Want the Milestone Credit Card?
If you've reviewed the costs and terms and still believe the Milestone Mastercard is appropriate for your situation, you can review the available offer below.
Milestone® Mastercard®
- Guaranteed $700 credit limit if approved.
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
- Don't Have Perfect Credit? No Problem!
- Join over a million consumers who are working on building their access to credit.
- Zero Fraud Liability - Peace of mind that comes with having a Mastercard.
- Get the credit you deserve, even with less-than-perfect history.
- No security deposit, and a path to better credit.
- CLICK HERE TO APPLY ONLINE
Make sure you review the terms of the offer before applying so you understand the applicable costs and conditions.
What If You Don't Want the Milestone Card?
You don't have to apply for Milestone simply because you're looking for an unsecured credit card. If you don't feel that the card is the right choice for you, another option is to see what other credit cards may be available based on your current credit profile.
Our credit card matching tool allows you to explore potential offers without having to choose a particular card first. You can use the tool to see what options may be available and decide for yourself whether one of them is a better fit for your situation.
Compare a variety of credit card offers.
Credit Cards for Fair Credit
If your credit has improved from bad credit into the fair-credit range, you may want to explore cards designed for consumers with fair credit rather than continuing to use a card intended for people rebuilding their credit.
➤ Explore Credit Cards for Fair Credit
Credit Cards for Good or Excellent Credit
If your credit has improved even further, you may also qualify for cards designed for people with good or excellent credit. These cards can offer features that may not have been available when you first started rebuilding your credit.
➤ Explore Credit Cards for Good or Excellent Credit
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FICO® Credit Scores
A FICO® Score is a proprietary credit score created by the Fair Isaac Corporation (FICO). About 90% of top U.S. lenders use it to make lending decisions.
FICO® Score Ranges:
- Exceptional: 800–850
- Very Good: 740–799
- Good: 670–739
- Fair: 580–669
- Poor: 300–579
FICO categorizes scores as Poor, Fair, Good, Very Good, and Exceptional.
What is a Credit Score?
A credit score is a three-digit number (300–850) predicting your creditworthiness. Lenders use it to evaluate risk and determine rates and terms for credit.
Why it matters: A higher score can help you qualify for loans and lower interest rates. A lower score can lead to higher borrowing costs or application denials.
FICO® Credit Score Facts
- Three-Digit Number: Summarizes your credit risk.
- Range: 300–850; higher scores = lower risk.
- Data Source: Uses your credit reports from Experian, Equifax, and TransUnion.
- Industry Standard: Lenders rely on FICO for mortgages, auto loans, and credit cards.
Note: Credit scores reflect your creditworthiness but do not guarantee approval for any credit product.
Security Notice: All participating issuers use secure application systems protected by Transport Layer Security (TLS) encryption to help protect your information.
*See the online credit card applications for details about terms and conditions of credit card offers. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the " Apply Now " button you can review the credit card terms and conditions on the credit card issuer's web site.
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