Mission Lane Visa® Credit Card
Great for automatic credit limit increases
Annual fee: $39
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Updated: November 1, 2023
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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
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
- 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
- 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.
Updated: November 8, 2023
Most helpful positive review
November 30, 2021
Great Card for Rebuilding!
— Credit Karma Member
I have had this card for a little more than a year now. After reading other reviews, I am not sure why the bad experiences, as Mission Lane has been excellent to me. I have had 3 automatic CLI's since having the card. I always pay more than the amount due, since I don't like to carry a large balance on the card, and don't know if that has anything to do with the generous CLI's, but so far, so good! As others had mentioned, the payments do take a few days to process and post via an ACH withdrawal, but that is the least of my worries.
Most helpful negative review
November 10, 2022
CK guaranteed approval (or they pay me $50)
— Credit Karma Member
I applied, got denied and CK didnt give me $50. No customer service. I filed complaint.