Rated 3/5 stars by our editorial team
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3.1/5.0 from 81 Offer Ratings
Over the Past 60 Days!
Foreign Transaction Fee
1% of each transaction
Balance Transfer Fee
Cash Advance Fee
The Milestone® Gold Mastercard® is an OK card that people with average/fair/bad credit can use to build credit if used responsibly. You won’t earn rewards or receive any standout benefits, but if managed properly you may see your score improve. However, since this card has several fees, those with no credit or bad credit should check out other cards that may have no annual fee or a lower fee. Also, if you have good or excellent credit, a secured card really isn’t for you — there are numerous other options that have both better terms and benefits.
The Milestone® Gold Mastercard® is a basic card that doesn’t have any exceptional benefits. You do have the option to check if you prequalify for this card without hurting your credit, which is a helpful feature if you have bad credit and want to compare cards from different issuers. Remember, when you submit an application, there will be a hard pull on your credit.
This card has several fees to take into consideration: The annual fee ranges from $35-$99, depending on creditworthiness* and you may be charged an account opening fee, which can range from $5-$50. You won’t know which fees you have to pay until after your account is approved. This can be an issue, especially if you end up with the highest fees. Also take note that any fees will be deducted from your initial available credit.
The Milestone® Gold Mastercard® lacks added benefits beyond reporting to the three major credit bureaus, as well as Mastercard® Gold benefits like price protection and extended warranty coverage.
The Milestone® Gold Mastercard® should be used responsibly to help you build credit. One of your top priorities should be making regular, on-time monthly payments with the goal of paying your balance in full each month. This not only establishes a good payment history, but also helps you avoid late payment fees and interest charges. You should also keep a low utilization rate — the amount of your total credit limit you use. For example, spending $200 on a $500 credit limit will give you a 20% utilization rate, which is pretty good, but the less you use of your available credit, the better.
If you’re new to credit, you may benefit more from a secured card like the Discover it® Secured Card - No Annual Fee than the Milestone® Gold Mastercard® for various reasons, including the annual fee, benefits and rewards. A secured card requires a security deposit that will become your line of credit, and in this case, the Discover it® Secured Card - No Annual Fee requires a $200 deposit. This may be an issue if you’re unable to come up with the minimum $200 deposit, but it’s refundable if you pay your balance in full and close your account or are transitioned to an unsecured card.
The Discover it® Secured Card - No Annual Fee has a $0 annual fee while the Milestone® Gold Mastercard® has an annual fee that ranges from $35-$99, depending on creditworthiness*. Unfortunately, you won’t know your annual fee until after you apply, and that can be worrisome, especially if you receive the highest fee.
Looking at the features of each card, the Discover it® Secured Card - No Annual Fee provides exceptional benefits, including the chance to build credit while earning rewards, access to your free credit score, a credit resource center and more. The Milestone® Gold Mastercard® lacks the majority of those features. Therefore, if you want to build credit and receive additional card benefits, the Discover it® Secured Card - No Annual Fee is a great alternative.
Here’s a breakdown of the key features of each card:
|Milestone® Gold Mastercard®||Discover it® Secured Card - No Annual Fee|
|Annual Fee||$35-$99, depending on creditworthiness*||$0|
|Minimum Security Deposit||N/A||$200|
|Purchase Intro Rate||N/A||N/A|
|Balance Transfer Intro Rate||N/A||10.99% APR for 6 Months|
|Balance Transfer Fee||N/A||3%|
|Regular Purchase APR||23.9% variable*||24.49% Variable|
|Rewards||Non-rewards card||2% cash back at restaurants & gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases|
|Sign Up Bonus||No bonus||Discover will automatically match all the cash back you earn at the end of your first year.|
|Foreign Transaction Fee||1% of each transaction||None|
The Milestone® Gold Mastercard® is an OK option for people looking to build credit; however, you may be better off with a secured card that has more benefits and lower fees.
$35-$99, depending on creditworthiness*
$0 Fraud Liability
Auto Rental Insurance
Extended Warranty Program
Flight Accident Insurance
Lost Luggage Reimbursement
81 Total Ratings