The Milestone® Mastercard® provides a guaranteed credit limit of $700 to all approved applicants, with the potential for some cardholders to receive a higher limit based on their financial profile.
Understanding Your Milestone Mastercard Credit Limit
When you are approved for the Milestone® Mastercard®, you are assured a starting credit limit. This card is designed to help individuals manage their finances and build credit without requiring an upfront security deposit.
Here's a breakdown of the credit limits you can expect:
| Limit Type | Amount | Details |
|---|---|---|
| Guaranteed Minimum | $700 | Every cardholder who gets approved for the Milestone Mastercard is guaranteed this minimum credit limit. |
| Potential Higher | More than $700 | Some cardholders may be offered an initial credit limit above $700. This is typically determined by factors such as their credit history and disposable income. |
Factors Influencing Your Credit Limit
While the $700 is a consistent starting point for most, the possibility of a higher limit depends on a careful review of your financial standing:
- Credit History: A strong and positive credit history, demonstrating responsible borrowing and repayment, can contribute to a higher initial credit limit offer.
- Disposable Income: Your income levels relative to your expenses play a role. A higher disposable income suggests a greater ability to manage and repay a larger credit line, potentially leading to a more generous limit.
Additional Benefits of the Milestone Mastercard
Beyond the credit limit itself, the Milestone® Mastercard® offers features designed to support cardholders in improving their financial standing:
- No Security Deposit: Unlike many cards aimed at those with fair or bad credit, the Milestone Mastercard does not require a security deposit, making it more accessible.
- Credit Building: Consistent, on-time payments and responsible use of your credit limit can help you build a positive payment history, which is reported to major credit bureaus. This can be a valuable tool for improving your credit score over time.
