Mission Lane Visa® Credit Card Review
A decent option for building credit though it has a $59 annual fee.
- Get this card if you have a history of bad credit and want to rebuild your credit with a traditional credit card.
- Pick something else if you can qualify for a credit-building card without an annual fee.
- Apply with a fair credit score of 580 or higher.
Purchase APR (variable)
Recommended credit score
Steven Dashiell is a credit cards writer at Finder. He's worked on 250 Finder articles and counting, helping readers embrace and maximize credit cards. Backed by nearly a decade of research and reporting experience, Steve's work can be seen on Debt.com, CreditCards.com and Lifehacker.
Since the Mission Lane Visa® Credit Card isn’t a secured credit card, it doesn’t require a security deposit for use. This puts it in the same company as a few other credit-building credit cards on the market and is helpful for those who don’t have the funds to put a few hundred dollars away while they rebuild their credit. Mission Lane may also increase your credit limit after you make your first six payments on time, which is handy as you could fit more of your essential purchases on the card while you build credit.
While this is a great feature, the Mission Lane doesn’t do much else to differentiate itself from other credit-building cards on the market and comes with a few drawbacks. For example, you won’t find any sort of rewards or perks to make up for the card’s $59 annual fee. The card also comes with a massive 29.99% variable purchase APR, and the industry average is around 16%. Carrying a balance on this card means you’ll rack up big interest, which is something you should strive to avoid when rebuilding credit.
Overall, this is a fair option for rebuilding credit if you don’t want a secured credit card, though there are other credit-building options on the market that don’t charge an annual fee.
How to apply for the Mission Lane Visa® Credit Card
To apply for the Mission Lane Visa® Credit Card, you used to need to receive an invitation from Mission Lane through mail. You can now apply by doing the following.
- Go to the provider's site and click Apply now.
- Fill out your personal information and click Submit.
What credit score do I need?
Apply for the Mission Lane Visa® Credit Card with a fair credit score of 580 or higher for a better chance of approval.
Mission Lane Visa® Credit Card benefits
- Reports to three major credit bureaus. Mission Lane reports your credit use to Experian, Equifax and TransUnion.
- Increase your credit limit. Make your first six payments on time and Mission Lane may increase your credit limit.
- Visa benefits. You’ll receive a few Visa perks with this card, including auto rental insurance when you decline your primary insurance.
Mission Lane Visa® Credit Card drawbacks
- Annual fee. You’ll need to pay a $59 annual fee to use this card. There are other credit-building cards on the market that don’t charge an annual fee.
- High APR. This card comes with a 29.99% variable APR on purchases, which is very large for just about any card on the market. If you use this card, you’ll want to avoid carrying a balance.
Compare unsecured credit cards for building or rebuilding credit
Use the table below to see other unsecured credit cards that can help you build credit.
Mission Lane Visa® Credit Card reviews and complaints
As of April 2021, Mission Lane is not accredited with the Better Business Bureau and earns a B- rating. There are just 21 customer reviews for the company, with complaints mentioning billing and collection issues.
Mission Lane is unrated on Trustpilot as of April 2021.
If you can’t qualify for one of the other credit-building cards on the market that don’t charge an annual fee, such as the Petal® 1 "No Annual Fee" Visa® Credit Card, the Mission Lane Visa® Credit Card can certainly do the job when it comes to building your credit. Still, you’ll want to check out other credit-building options before taking the plunge on this card.