Hello, everyone! Today, let’s look at the Milestone Credit Card. You might be wondering, “Is it possible to increase my credit limit with this card?” After much study, it was discovered that the Milestone Credit Card does not provide the ability to increase your credit limit.
This unsecured card has a set limit of $700 and is specifically designed for people with less than perfect credit.
In this article includes an overview of the elements that influence credit limits, tactics for increasing your limit, and a summary of the application procedure.
Milestone Credit Card: It is very important to know this
Understanding the Milestone Credit Card’s advantages and limits is critical, especially if you’re considering using it to establish or rebuild your credit.
Here are some important things to know about the Milestone Credit Card:
- Fixed Credit Limit: The card has a fixed credit limit of $700, which does not grow with prudent use.
- Credit Building: Credit building is ideal for persons with poor to good credit ratings, as it reports to major credit bureaus.
- High APR and costs: Expect a high annual percentage rate (APR) and significant costs.
- High APR and Fees: It does not offer any rewards programs or advantages, such as cash back or points.
- Easy Approval: Even people with bad credit or a history of bankruptcy can get approved.
- Application: Application requires a soft credit pull for prequalification, which does not impact your credit score.
Increase Your Credit Limit
- Timely Payments: Always pay on time; this is critical for receiving larger limitations.
- Low Credit use: To maximize your chances of getting a credit increase, keep your credit use below 30%.
- Update Income: Inform your card issuer of your income on a regular basis, as better earnings may warrant a higher limit.
- Request Increases: Request increases on a regular basis; keep in mind that this may need a hard credit check, which may temporarily harm your score.
Fees Overview:
- 1st Year: $175 annual fee, no monthly fees.
- 2nd Year Onwards: Annual fee reduces to $49, with a monthly fee of $12.50.
Payment and Reporting:
- Milestone reports payments to credit bureaus promptly.
- Payments usually reflect in your account within 48 hours.
Comparison:
- Milestone Credit Card: $700 limit, fees are 25% of the limit in the first year, 28.4% in the second year.
- Other Cards: Credit limits and fees vary.
The Big Question: Can You Increase Your Limit?
The Milestone Credit Card does not normally allow you to increase your credit limit; most cardholders’ credit limits are fixed at $700. This regulation is in place since the card focuses on helping consumers rehabilitate their credit. To investigate potential policy changes, contacting customer care directly may provide more concrete answers.
| Milestone Credit Card Customer Service | Details |
|---|---|
| Phone Number | (800) 305-0330 |
| Available Hours | 6:00 AM to 6:00 PM, Pacific Time |
| Days | Seven days a week |
Finally
Under proper management, the Milestone Credit Card provides a route to better credit. Your financial situation and creditworthiness can improve by knowing how credit limits are determined, actively managing your card, and using techniques to raise your limit. Maintaining these behaviors will help you create or rebuild credit and open more financial possibilities down road.
FAQs
Q1. Can I increase the credit limit on my Milestone Credit Card?
Ans: No, the Milestone Credit Card normally has a fixed $700 limit that does not change.
Q2. What is the Milestone Credit Card’s customer service hours?
Ans: Customer assistance is available from 6:00 a.m. to 6:00 p.m. Pacific Time, seven days a week.
Q3. Does the Milestone Credit Card charge an annual fee?
Ans: Yes, there is a $175 annual charge in the first year, which is lowered to $49 in following years, with a monthly fee of $12.50 beginning in the second year.