I got approved for Mission Lane with a $300 initial credit limit with my credit score at 489! lol I was shocked, especially when my annual fee is only $59. It’s now 6 months later and Mission Lane has generously given me an additional $300 credit increase with my FICOs at 651, 626, and 644.
The Mission Lane card credit score requirement is limited-to-fair credit, which means a credit score of 640+ if you have a credit score at all. As long as you do not have a bad credit score, your approval odds for the Mission Lane card should be pretty good.
Besides your score, Mission Lane will take other things into consideration when looking at your application, such as your income, existing debts and overall creditworthiness.
Keep in mind that you can only apply for this card if you've received a mail offer from Mission Lane. Otherwise, you're welcome to join their waitlist.
Accepting their offer will result in a hard pull on your credit, which may lower your credit score for a short period of time.
You can only get a Mission Lane Visa® Credit Card credit limit increase when Mission Lane decides you're eligible and offers you one, as requesting a higher limit is not possible. Mission Lane will evaluate your account at least once within the first 12 months to see if you qualify for a credit limit increase.… read full answer
Mission Lane Credit Limit Increase Requirements
You must have a history of on-time payments.
You must keep your balance under the current credit limit.
You must not have your charging privileges restricted.
You must keep the account open.
You must not have any bankruptcies on your record.
You must be able to afford minimum payments for a higher credit limit.
Mission Lane will review your account periodically to see if you meet their approval criteria for a credit limit increase. This is a fully automated process and will only result in a soft pull on your credit.
If you’re eligible for an increase, you will most likely be informed via email and through your online account. However, Mission Lane is not required to notify you before a credit limit increase, so keep an eye on your credit card statement.
The Mission Lane Credit Card starting credit limit is $300. If you only qualify for this amount, keep in mind that your annual fee will be $75, which means your available credit will drop to about $225.
Credit limits are generally calculated based on your income and credit history. But Mission Lane will re-evaluate your account at least every 12 months to see if you're eligible for a credit limit increase.… read full answer
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