Milestone Gold Mastercard – How to apply

By Raquel Oliveira • 03/20/2025

Milestone Gold doesn't require a security deposit and Potential to improve your credit score.

The Milestone Gold Mastercard is designed for individuals looking to build or improve their credit. Unlike secured cards, it does not require a security deposit, making it a more accessible option for those with limited credit opportunities.

Functioning like a standard credit card, it allows users to make purchases and pay them off over time. However, it comes with higher fees and interest rates, requiring careful management to avoid unnecessary costs.

A standout feature of this card is its reporting to all three major credit bureaus. This means your payment history directly impacts your credit score, making timely payments crucial for financial progress.

Before applying, it’s important to understand how the Milestone Gold Mastercard works. While it provides a path to credit improvement, its fees and interest rates may make it less attractive compared to other credit-building alternatives.

How does Milestone Gold work?

The Milestone Gold Mastercard is a straightforward solution to improving your credit score without requiring an initial deposit. 

You can easily check if you qualify on the issuer’s website without it impacting your credit score. This pre-qualification process is a great way to get a clear idea of ​​the card’s status before proceeding to the formal application.

Once approved, the card offers a revolving line of credit that can be used to make purchases anywhere that Mastercard is accepted. 

After that, you can make your purchases normally and pay the invoice by the due date, choosing to pay the full amount or a minimum payment.

Main Benefits of Milestone Gold Credit Card Mastercard

One of the biggest benefits of the Milestone Gold Mastercard 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, the Milestone Gold Mastercard 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, the Milestone Gold Mastercard 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, the Milestone Gold Mastercard 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 high APR, which means that carrying a balance from month to month can be very expensive. The interest rate can go as high as 35.9%, much higher than average.

In addition to the high APR, there are several fees to consider. The annual fee starts at $75 for the first year but increases to $99 in the following years, reducing your available credit.

Late payment fees can go up to $40, making it important to pay your bill on time. There is also a foreign transaction fee, so using this card outside the country can be costly.

Overall, this card is not a good option for people who carry balances or travel frequently. The fees and high interest rates can make it a costly choice if not managed properly.

How to Apply for the Milestone Gold Mastercard

Applying for the Milestone Gold Mastercard is easy. You can start by visiting the issuer’s website and filling out the online application form with your personal and financial details.

The application does not require a perfect credit score, which makes it accessible to those with limited or poor credit histories. Pre-qualification is available, allowing you to check eligibility without affecting your score.

Once approved, you will receive your card in the mail. Activation is required before use, and your available credit limit will be determined by the issuer based on your financial situation.

If you plan to use this card, it’s important to manage it wisely. Paying on time, keeping balances low, and avoiding unnecessary fees will help you improve your credit over time.

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.