Milestone Gold Mastercard Review

No security deposit required, but is it worth the fees?

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The Milestone Gold Mastercard from The Bank of Missouri is an unsecured credit card meant to help you build or rebuild your credit history. Depending on your credit situation and how you use the card, however, the Milestone Gold’s fees and interest could get expensive.

Milestone® Gold Mastercard®

Overall Rating
2.8
Milestone® Gold Mastercard®
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Poor - Excellent
Regular APR (%) 24.9% fixed
Annual Fee $35 to $99 per year
Ratings Breakdown
for Interest
1.9
for Fees
2.3
for Rewards
2.6
for Credit
3.7

Who Is This Credit Card Best For?

  • Avatar for Savvy Saver Persona
    Prioritizes sticking to their budget while buying what they want and need See more cards
    Savvy Saver
  • Avatar for Debt Warrior Persona
    Attacks existing balances while avoiding new debt See more cards
    Debt Warrior
  • Avatar for Credit Builder Persona
    Takes improving their finances seriously and wants recognition for using credit responsibly See more cards
    Credit Builder

Building or rebuilding credit can take time, and parting with a few hundred dollars for a deposit on a secured credit card without knowing when you’re going to get it back can be stressful. If you need a secured credit card because you can’t get approved for an unsecured card, the Milestone Gold credit card might be a good fit for you. It doesn’t require a security deposit to get approved, and you can get approved with bad, limited, or no credit.

That said, your annual fee could be $35 or $75 the first year and $99 after, depending on your credit profile. This drawback could be a dealbreaker, as other secured cards don’t charge an annual fee.

Bank of Missouri offers the Milestone Gold Mastercard and the Milestone Mastercard. When you apply for the Milestone Gold, the bank may approve you for the Milestone Mastercard. The card has an annual fee of $59 and the same interest rates and other fees as the Milestone Gold card.

Pros
  • No security deposit required

  • May get approved with bad, limited, or no credit

  • Fixed APR

Cons
  • Potential for a high annual fee

  • No rewards program

  • Low credit limit

Pros Explained

  • No security deposit required: You don’t have to worry about putting up any money to get approved for the card. If you’re living paycheck to paycheck, don’t have any savings you can part with, and need to build credit, the Milestone credit card can be appealing.
  • May get approved with bad, limited, or no credit, or bankruptcies: Getting a credit card can be difficult when you’re new to credit or working to recover from past credit missteps. With the Milestone credit card, you might be approved even if you have bad or no credit, or you have a bankruptcy in your credit history.
  • Fixed APR: The card’s interest rate stays the same regardless of what the prime rate is. (Variable interest rates are based on the prime rate and can change). That doesn’t necessarily mean the rate will never change, but your credit card issuer will have to tell you if it does.

Cons Explained

  • Potential for a high annual fee: This card has a variety of fee structures. Depending on your credit profile, you may end up with an ongoing annual fee as high as $99 after the first year.
  • No rewards program: When your main goal is to improve your credit, rewards may not be a top priority. But if you want the option to have both, some other cards can provide it.
  • Low credit limit: TThe credit limit for the Milestone Gold Mastercard is $300, which isn’t bad, but your annual fee comes out of that $300. So when you open your card, you might only have $225 of available credit. That’s a mediocre limit compared to other credit cards.

How To Get the Most Out of This Card

While the high annual fee and low limit may put off some customers, don’t forget the main reason to get this card: improving your credit. So, to get the most out of this card, keep your balance low relative to your credit limit and make your payments on time. Why are these factors important? Because your payment history accounts for 35% of your credit score, and your balance relative to your credit limit (“utilization ratio”) accounts for 30% of your score.

Set up AutoPay via your online account to ensure your payments are never late.

If you’re able to make timely payments and keep your balance low (in addition to responsibly using your other credit accounts), you’ll be more likely to qualify for an unsecured credit card with better rates and reward programs.

Milestone Gold Mastercard's Other Features

  • Identity-theft resolution services
  • 15% discount on airport meet-and-greet services
  • Twenty-four-hour assistance with lost and stolen cards, emergency card replacement, and emergency cash advance

Customer Experience

The Bank of Missouri doesn’t offer a mobile app for the Milestone credit card, although you do have online access via its website. You can reach customer service at 1-800-305-0330 or via regular mail.

While the card can help you build your credit history, it doesn’t provide access to your credit score to help you keep track of your progress.

Security Features

The Milestone credit card’s security features are standard for the industry.

Milestone Gold Mastercard’s Fees That Stand Out

Milestone Gold’s annual fees can be much higher than what you can find with some of the better credit cards for bad credit. On the flip side, the card’s 1% foreign-transaction fee is lower than the typical 3% fee you see with other cards that charge one.

Next Steps
For Milestone® Gold Mastercard®
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CURRENT CARD
Milestone® Gold Mastercard®
overall rating
2.8
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Poor - Excellent
Regular APR (%) 24.9% fixed
Annual Fee $35 to $99 per year
Our Methodology
At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. Milestone. “Milestone Card,” Click “Annual Fee,” then click “Gold-300” and “Gold-301”.

  2. Milestone. “Milestone Card,” Click “Annual Fee,” then click “Gold-322”.

  3. myFICO. “What’s in My FICO Scores?

  4. Milestone Gold Card. “Mastercard Guide to Benefits for Credit Cardholders,” Pages 2-3.

  5. Milestone. “Contact Us.”

  6. Milestone. “Milestone Card,” Click “Annual Fee.”