The Milestone Credit Card gives you a 25-day grace period to avoid paying interest on your purchases. The grace period runs from the end of the billing period until the card’s payment due date. You won’t owe any interest as long as you pay your balance in full during that timeframe. Should you decide to carry a balance on your Milestone Credit Card, it will accumulate interest daily at the card’s regular APR. Interest is compounded, meaning you will owe interest on both the principal balance and any interest already accumulated.
In addition to the regular interest rate, Milestone Credit Card also charges a separate 29.9% interest rate on cash advances and a penalty rate for late payments. All Milestone Credit Card interest rates will be listed on your statement and on your online account summary.
Milestone® Mastercard® - Less Than Perfect Credit Considered
Unfortunately, you cannot get a Milestone Credit Card credit limit increase. The card’s website clearly states that “there is not a credit limit increase program at this time”.
If your Milestone Credit Card’s credit limit isn’t enough to satisfy your needs, you could get a secured credit card. This way, you would be able to reduce the cost of improving your credit score enough to qualify for a card with a higher spending limit.… read full answer
The initial Milestone Credit Card limit is at least a total of $300. Everyone who gets approved for the Milestone Credit Card is guaranteed this starting credit limit, but some cardholders could get higher limits. To be more precise, your actual credit limit will mostly depend on your credit history and disposable income.… read full answer
It is also worth noting that your starting credit limit could be increased in due time. More specifically, you can ask for a credit limit increase by calling customer service at (866) 453-2636. Your chances will be higher if you ask for an increase after paying your bills on time for 6 months from account opening.
A good interest rate on a credit card is anything below 14%. That is roughly the average regular interest rate on credit cards for people with excellent credit. Even a relatively good interest rate on credit cards for people with lower scores is not all that low. For example, credit card users with good or fair credit could pay interest at an annual rate of 20%+ and still have a below-average APR. Better-than-average for a credit card overall isn’t much below 20%, either. That’s why the best interest rate on a credit card is 0%.… read full answer
How to Get a Good Interest Rate on a Credit Card
There are three ways to get the best possible credit card interest rate.
For starters, lots of credit cards offer 0% APR periods as introductory perks for new customers. They can be a great help to people looking to finance a large purchase or transfer a debt to pay it off faster. But those intro periods are always temporary. Most (but not all) 0% APR credit cards require good credit or better, too.
The second way to avoid credit card interest altogether is to pay your full statement balance by the due date every billing period. Setting up automatic monthly bill payments from a bank account can be a big help with that. You can also try the “Island Approach”, which is a method of using multiple credit cards for different expenses. For example, you could use your lowest-rate card—maybe even a card with a 0% APR period—for things you’ll need to pay off over a period of time, and a rewards card for everyday purchases that you pay off every month. That way, you wouldn’t pay interest at all, no matter what rate you have on the rewards card.
Ultimately, there is also a number of things you can do to raise your credit score and, in turn, get a better shot at a good interest rate on your next credit card. Because if a low credit card APR is your objective, it truly pays to have an “excellent” credit score of 750 or higher.
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