Milestone Gold Mastercard – How to Apply

By Raquel Oliveira • 03/07/2025

Milestone Gold Mastercard No security deposit required and Reports to all three major credit bureaus.

The Milestone Gold Mastercard is a straightforward credit card designed for individuals with less-than-perfect credit who want to improve their credit score. 

With a low annual fee, no security deposit, and the ability to build your credit by reporting to all three major credit bureaus, this card is a practical option for people who want to establish a positive credit history. 

Whether you’re new to credit or recovering from past financial challenges, the Milestone Gold Mastercard offers an accessible and affordable way to take control of your credit.

The Milestone Gold Mastercard offers an easy application process, making it simple for those with limited or poor credit histories to apply and start building their credit.

How does Milestone Gold Mastercard work?

The Milestone Gold Mastercard is an unsecured credit card, meaning you don’t need to put down a deposit to use it. This makes it different from many other credit-building cards, which often require security deposits.

When you apply, the issuer reviews your credit history. If you are approved, you receive a credit limit—typically around $300—which you can use for purchases. Payments made on time help improve your credit score.

Each month, you will receive a statement with the amount you owe. Paying off the balance in full avoids interest charges. However, carrying a balance results in high APR charges, making costs add up.

This card is mainly for people with poor or limited credit history. It gives them a chance to demonstrate responsible credit use, which could lead to better credit opportunities in the future.

Main Benefits of the Milestone Gold Mastercard

One of the biggest benefits of this card is that it does not require a security deposit. Many credit-building cards require upfront payments, making this card easier to obtain.

Another advantage is that it reports to all three major credit bureaus: Equifax, Experian, and TransUnion. This means consistent, on-time payments can positively impact your credit score over time.

The application process is also straightforward. Since it’s designed for people with poor credit, approval chances are higher compared to traditional credit cards that require a good credit score.

For those struggling to qualify for credit, this card offers a way to rebuild financial credibility. Responsible usage can eventually open doors to better cards with lower fees and better rewards.

Cons of the Milestone Gold Mastercard

Despite its benefits, thus card has several drawbacks. The biggest one is the annual fee, which starts at $75 for the first year and increases to $99 afterward.

The card also comes with a high APR, reaching up to 35.9%. If you don’t pay your full balance each month, interest charges can quickly accumulate, making it costly to carry a balance.

Another downside is the low initial credit limit, often set at $300. Since the annual fee is deducted from your available credit, your usable limit may be even lower when you first receive the card.

Unlike some other credit-building cards, thus card does not offer rewards or perks. It is primarily a tool for improving credit, making it less appealing for long-term use.

APR and Fees

The Milestone Gold Mastercard has a relatively high APR, typically ranging from 24.99% to 29.99% variable, depending on your creditworthiness. 

This means that if you carry a balance, you could face significant interest charges. It’s important to pay off your balance in full each month to avoid these costs.

The card charges a low annual fee, which is a significant advantage compared to other credit-building cards that charge higher fees.

However, there is a foreign transaction fee of 3%, which can add up if you use the card for international purchases.

How to Apply for the Milestone Gold Mastercard

To apply for the Milestone Gold Mastercard, you will need to meet certain eligibility requirements, including having a fair or poor credit score. The application process is straightforward and can be completed online. 

You will need to provide your personal information, including your income and financial details. Once you’re approved, you will receive your card and can start using it for your regular purchases. 

The Milestone Gold Mastercard reports your payment history to all three major credit bureaus, so with responsible use, you can begin improving your credit score right away.

The card’s low annual fee and lack of a security deposit make it an affordable option for those who want to build or rebuild their credit.

Is the Milestone Gold Mastercard Worth It?

The Milestone Gold Mastercard is best for those who need to rebuild their credit but cannot provide a security deposit. It offers an opportunity to demonstrate financial responsibility and build a better credit history.

However, the high APR and annual fees make it less attractive compared to other credit-building options. Alternatives like secured credit cards with lower interest rates may be a better long-term choice.

For applicants with no other credit options, this card can serve as a stepping stone. Used responsibly, it can help raise credit scores and improve financial opportunities in the future.

Before applying, it’s important to weigh the costs and benefits. While it provides access to credit, the fees and high-interest rates require careful management to avoid financial strain.

Final Thoughts

The Milestone Gold Mastercard is a viable option for those with limited credit options, but it comes at a cost. The lack of a deposit requirement makes it accessible, but the high fees and APR make it expensive.

If you need to improve your credit, this card could help if used responsibly. However, if you qualify for other options, comparing alternatives may help you find a better deal.

Understanding the card’s terms and making smart financial decisions will determine whether this card benefits your credit journey. Always consider your personal financial situation before applying.