The first step in submitting a Milestone credit card application is to get pre-qualified by the Bank of Missouri – the Milestone Mastercard's issuer. Applicants who pre-qualify will then be invited to apply for the Milestone credit card online. There is no option to submit an application by phone or by mail, and there is no way to apply without first pre-qualifying.

The pre-qualification step uses a “soft” credit inquiry, which will not impact your credit score. This saves would-be applicants who are unlikely to be approved from wasting their time and potentially hurting their credit standing.

To see if you pre-qualify, submit the form on Milestone's website. You may receive an immediate decision, but it's not guaranteed. If you are pre-qualified, you should see an invitation link on the page. Click the link to access the online application. Enter your name, address, e-mail address and SSN. Your annual income and your monthly housing payment are also required. When you submit the application, you're giving Milestone permission to conduct a hard pull of your credit report. Hard pulls will lower your credit score, but only for a short period of time.

Just as with pre-qualification, you should receive an instant decision when you officially apply for the Milestone card. But it's important to note that just because you're pre-qualified does not mean you're guaranteed to be approved for the card. If you are approved, you should receive your new card in about 14 business days. If your application is denied, Milestone may recommend offers for credit cards from partner banks based on your credit profile.