Milestone Mastercard: no deposit, but high fees for rebuilding credit
What you get and what you pay with the Milestone Mastercard
The Milestone® Mastercard®, sometimes still called the Milestone Gold Mastercard, is an unsecured credit card for people with bad, limited or no credit. It’s issued by The Bank of Missouri and serviced by Concora Credit. You don’t need a security deposit, and your payments are reported to all three major credit bureaus, which can help you build a payment history.
The trade-off is cost. The card has a high annual fee, a monthly fee on many offers after the first year, a high APR and a low credit limit. Below, we explain how the card works, what it costs and when it makes sense to consider it.
How the Milestone® Mastercard® works
The Milestone Mastercard works like a regular credit card. You can use it wherever Mastercard is accepted in the U.S., and each month you pay at least the minimum due. Because it’s unsecured, you don’t have to put money down upfront as you would with a secured card.
Its main purpose is building credit. Milestone reports your monthly payments to all three major credit bureaus, so on-time payments can help you build a positive record. Late payments get reported too, and they can lower your score further.
Your terms, including the annual fee and credit limit, depend on the offer you receive. If your application isn’t approved, no hard inquiry appears on your credit report.
What the card includes
The card comes with two Mastercard benefits at no extra charge. Mastercard ID Theft Protection™ monitors your personal information, such as your Social Security number, email addresses, bank accounts and online logins. Zero Liability protection means you’re not held responsible for unauthorized transactions.
You can also request cash advances, subject to credit approval. To use an ATM, you call to request a PIN, which is sent by mail. The card doesn’t offer rewards, a welcome bonus or balance transfers.
Pros of the Milestone® Mastercard®
- No security deposit required
- Reports to all three major credit bureaus
- No hard inquiry on your credit report if you’re not approved
- Mastercard ID Theft Protection™ and Zero Liability protection
Cons of the Milestone® Mastercard®
- High annual fee, charged to your card when the account opens
- Monthly fee on many offers starting in the second year
- Very high APR
- Low credit limit, and no rewards or balance transfers
Milestone® Mastercard® rates and fees
- Annual fee: varies by offer. A common offer charges $175 the first year and $49 after that.
- Monthly fee: $0 the first year on common offers, then $12.50 a month starting in year two. Some offers differ.
- Purchase APR: 35.9% in recent offers
- Credit limit: usually $700 on the most common offer; other offers start lower
- Security deposit: none
- Balance transfers: not available
- Cash advances: available, subject to credit approval
The first year’s annual fee is charged to the card at account opening. On a $700 limit with a $175 fee, you start with about $525 of available credit, and your balance begins at $175 before you buy anything. That also raises your credit utilization, which affects your score.
Terms checked in September 2026. Milestone doesn’t publish its fees and APR on its public website, so review the full terms shown during the application before you accept the card.
About The Bank of Missouri and Concora Credit
The Milestone Mastercard is issued by The Bank of Missouri, an FDIC-insured bank based in St. Robert, Missouri. Concora Credit, based in Beaverton, Oregon, services the account, which means it handles customer service, payments and account management. Concora also services the Indigo® Mastercard®, a card with a similar structure.
Managing your account
After you’re approved and receive the card, you can create a login on Milestone’s online account site to manage your account and pay your bill. If you plan to use the card outside the U.S., call customer service first to set a travel alert, or foreign transactions may be declined for security reasons.
Our take on the Milestone® Mastercard®
The Milestone Mastercard can be an option if you have damaged or limited credit, have been turned down for other cards and can’t put down a security deposit. It reports to all three bureaus, which is what you need to build a payment history.
It’s an expensive way to do that, though. On the most common offer, you pay $175 in the first year and about $199 a year after that in annual and monthly fees, for a limit of around $700. Secured cards often have no annual fee, and you get the deposit back when you close the account in good standing or upgrade. If you can afford a deposit, compare those options first.
If you do get the Milestone card, pay in full and on time every month, keep your balance low and check your credit after a year to see whether you qualify for a card with lower costs. Approval isn’t guaranteed. Milestone reviews your income, debts and identity before making a decision.
In the next article, we walk through how to apply for the Milestone® Mastercard®.
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