Full Review

The Milestone Credit Card is an unsecured card for people with credit scores below 640. The Milestone Card has a $0 security deposit requirement and offers a $300 credit limit, with an annual fee of $35 - $75 the first year. That could make some emergency expenses a bit easier to handle, though a very high APR will apply to any balance that you carry from month to month. The Milestone Card’s annual fee can also be as high as $99 from the second year on, so you don't want to need this card for too long.

Below, you can find more information that should help you decide whether or not to apply for the Milestone® Mastercard®.  

Highlights

One of the best unsecured cards for bad credit.This label should be taken with a grain of salt because no unsecured credit card for bad credit is all that good. But if you absolutely need an emergency loan, as opposed to just a higher credit score, the Milestone® Mastercard® is one of the better options. For one thing, you can see if you're prequalified for the Milestone Card before even submitting an application. This will help you avoid an unnecessary hard inquiry and the temporary credit score damage that comes with it if you have no shot at getting approved. Below, you can see why else the Milestone Mastercard is a top option.

Modest fees, especially the first year.The Milestone Credit Card doesn't charge monthly or one-time fees, which puts it in a good light relative to much of its competition. The one notable fee that the Milestone Mastercard does charge is an annual fee of $35 to $75 the first year and up to $99 each subsequent year, depending on your overall creditworthiness. Ideally, you'll be able to graduate to a cheaper card within a year, and up to $75 definitely isn't a terrible price to pay for a better credit score.

Provides limited spending power.Cardholders generally start with a $300 spending limit, which is effectively reduced to between $225 and $265 by the first-year annual fee, assessed at account opening. Is that enough to satisfy your needs? If not, you may want to get a secured credit card that would reduce the cost of improving your credit score enough to qualify for a card with a higher spending limit.

Interest isn't terribly expensive.The Milestone Card's regular APR compares favorably to other unsecured credit cards for people with bad credit. But it's still far higher than the 17.19% APR charged by the average secured card,