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Mission Lane Visa® credit card full review: should you get it?

Complete review of the Mission Lane Visa® credit card, an "off the curve" financial product with benefits that cards for people with bad credit don't offer.

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Mission Lane Visa® credit card: avoid large annual fees to rebuild your credit with peace of mind

Mission Lane Visa® credit card
Learn all about the Mission Lane Visa® credit card. Source: Mission Lane

In fact, most credit cards available to those with bad credit offer a less than pleasant experience. High fees and payment requirements are some of the unattractive features. So the Mission Lane Visa® Credit Card goes against all that.

Check out our review of this card and understand why it should be an option to consider.

Logo Mission Lane

Mission Lane Visa® card: check out how to apply!

Rebuild your credit with an initial $300 limit on terms that very few cards offer people with bad credit: no upfront deposits or "hidden" fees. See how to get the Mission Lane Visa® card!

Credit ScoreBad/fair (300-670)
Annual FeeFrom $0 to $59
Regular APRFrom 26.99% to 29.99% variable APR

*If you are charged interest, the charge will be no less than $0.50
Welcome bonusNone
RewardsNone

Mission Lane Visa® credit card: learn more about this financial product

In fact, the vast majority of credit cards for people with bad credit require an initial deposit. In addition, it will be this deposit that will define what your credit limit will be. Thus, those who do not have a cash reserve will never be able to count on a card in this condition.

Another fact about this card type is the built-in fees that most users only discover when they are already using the card. However, the Mission Lane Visa® card offers a counterpoint to all this.

First, with this card, it is possible to pay $0 of the annuity (which is not common).

Plus, even if you’re eligible for the highest annual fee ($59), you’ll still be paying less than what other cards offer (If you are charged interest, the charge will be no less than $0.50).

The Mission Lane Visa® does not charge a monthly fee, another common practice for those with bad credit. A third very relevant aspect is that, when opening the account, you are already entitled to a credit limit of R$ 300.

If you use this amount well, paying your balance on time, this amount will increase in seven months. That way, you will have a greater margin to use credit more safely in a short time. So, this is a very important factor for anyone who wants to build credit.

Additionally, this card offers $0 of fraud liability and reporting to the three major credit bureaus. All this is to make your credit score grow even faster. Plus, you can be considered for an automatic credit limit increase in 7 months with the card.

Mission Lane Visa® credit card features

Image of gorgeous brunette woman wearing casual clothes holding credit card and cellphone
Learn more about the card’s pros and cons! Source: Adobe Stock.

Now you know what sets the Mission Lane Visa® card apart from other cards. So, learn about this product’s main advantages and disadvantages to decide if this is the best option for your moment.

What are the benefits?

  • Credit limit of $300 with the first possibility to increase after 7 months;
  • It accepts applicants with bad credit or limited history and offers instant results;
  • No monthly fees or other surprise fees;
  • No initial deposit is required to access the credit limit;
  • If you are charged interest, the charge will be no less than $0.50.

And what are the drawbacks?

  • The maximum and minimum limits of the APR are high;
  • This card charges 3% on transactions abroad;
  • No welcome bonus or reward program;
  • Charges annual fees in some cases.

What credit score do you need to get the Mission Lane Visa® credit card?

A priori, this is a card designed for people with bad/poor credit. Therefore, it is recommended for candidates with a score of 300 to 670.

How does the Mission Lane Visa® credit card application process work?

There are actually two ways to access the Mission Lane Visa® card. One of them is through an invitation sent individually. The other is an online application.

To learn more about each of these application methods, click on the link below and read a full review of the application.

Logo Mission Lane

Mission Lane Visa® card: check out how to apply!

Rebuild your credit with an initial $300 limit on terms that very few cards offer people with bad credit: no upfront deposits or "hidden" fees. See how to get the Mission Lane Visa® card!

About the author  /  José Gonçalo

I started reading about finance only to find better options than savings. Since then, I have never stopped studying finance, and I believe that writing about it is the best way to help individuals feel fulfilled and have a healthy financial life. Today, I balance finance and medical school studies.

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