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3. Mission Lane Visa® Credit Card

Image: Image of the Mission Lane Visa Credit Card

1887 reviews from Intuit Credit Karma members

4.5

⭐⭐⭐⭐⭐

Rating: 4.5 out of 5.

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Great for automatic credit limit increases

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Annual fee: $39

This content is curated by Intuit Credit Karma’s Editorial team using data from members who were approved for this card or similar cards, or who self-matched this card or similar cards. Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse this content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Member stats

Updated: November 1, 2023

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59.5%

Average credit utilization (or what percent of the card’s credit limit is being used) of members who matched with this card or similar cards.

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46 years

Average age of members who matched this card or similar cards.

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$70,865

Average annual income of members who matched this card or similar cards. Note: Income may be estimated for some members by Credit Karma and may differ from members’ actual incomes.

Card highlights

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Reports to all three major credit bureaus, which could help you build credit

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Could qualify for a higher credit line after making first six payments on time

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Unlike some starter cards, no security deposit required

Mission Lane Visa® Credit Card review: A chance to build credit

Updated June 14, 2023

This date may not reflect recent changes in individual terms.

Written by: Lance Cothern

Pros

• Reports to all three major credit bureaus, which could help you build credit
• Could qualify for a higher credit line after making first six payments on time
• Unlike some starter cards, no security deposit required

Cons

• High variable purchase APR could cost you in interest
• Charges an annual fee without many benefits to offset the cost (you might see different offers on Credit Karma)

What you need to know about the Mission Lane Visa® Credit Card

Could help you build credit

If you’re able to apply, the Mission Lane Visa® Credit Card could help you build credit without needing to put down a security deposit.

Mission Lane reports your credit activity to the three major consumer credit bureaus. While that’s a common feature for a credit-building card, that doesn’t make it any less important.

Ability to reach a higher credit limit over time

The Mission Lane Visa® Credit Card issuer also reviews your account periodically to determine whether you’re eligible to get a higher credit limit. A higher limit could help you keep your credit utilization rate low — if your spending habits don’t change. And credit utilization rate is one of many key factors in credit-scoring models, so it could help your scores if it’s managed in the right way.

Mission Lane states that you could be eligible to get a higher credit limit if your account remains in good standing after making your first six payments on time. It will also evaluate your account at least once within the first 12 months of opening your account to determine whether you’re eligible for a credit limit increase. It considers several factors for this process.

• On-time payment history
• Whether the account has ever gone over the credit limit
• Whether charging privileges have been restricted
• Whether you've closed the account or filed for bankruptcy
• Whether you have the ability to pay the higher credit limit 

High interest rate could cost you

The Mission Lane Visa® Credit Card has a high variable purchase APR of 33.99% (you might see different offers on Credit Karma). While high APRs are common on credit cards geared toward people trying to build credit or who have no credit history at all, lower purchase APRs can be found with other options.

The annual fee might turn you off

The Mission Lane Visa® Credit Card comes with a $39 annual fee. (You might see different offers on Credit Karma.) This card doesn’t offer a rewards program, so you won’t have the opportunity to offset this fee by earning rewards whenever you use it to make purchases. The only value of the card — if you’re able to apply and are approved for it — comes from gaining access to credit and potentially building your credit profile for the future.

Who this card is good for

The Mission Lane Visa® Credit Card offers the chance to build or rebuild credit without paying a security deposit. Unfortunately, the annual fee and high variable purchase APR make this credit card rather risky for the few benefits it offers. Frankly, it’s difficult to recommend this card to anyone who could qualify for a similar option without an annual fee.

But if you’re not sure if you can qualify for a no-fee card, you could still make valuable strides in your credit journey with this card. You’ll just have to focus on paying your bill as agreed to avoid interest and keep your account in good standing in the hopes of increasing your credit line.

Member reviews

Updated: November 8, 2023