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Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
The Mission Lane Visa® Credit Card offers applicants the opportunity to be prequalified in under a minute for an unsecured line of credit. But, depending on your credit score, you may end up with a high APR and an annual fee with this card. You can find more affordable cards that accept applicants with limited or poor credit.
However, if you’ve exhausted all options and are in need of a card, the Mission Lane Visa® Credit Card may be worth applying for. Not all cardholders are required to pay an annual fee. If you use it responsibly, it can help build your credit, and you may even qualify for a credit limit increase.
Intro Purchase APR
N/A
Regular Purchase APR
19.99 - 29.99% Variable
Intro BT APR
N/A
Regular BT APR
N/A
Annual Fee
$0-$59
Cash Advance Fee
The greater of $10 or 3% of each cash advance.
Foreign Transaction Fee
If the transaction occurs at a merchant outside of the U.S., the fee is 3% of the U.S. dollar amount of the transaction, regardless of whether a currency conversion is performed at the time of the transaction.
Balance Transfer Fee
N/A
Get a decision in under a minute
The Mission Lane Visa® Credit Card offers a prequalification decision in under 60 seconds without any negative effect to your credit score. If you’re pre-qualified and submit your application, the issuer will run a hard credit pull before giving you a final decision.
Be considered for credit limit increase in as few as seven months
Within the first year, and in as few as seven months, your account will be evaluated for a potential credit limit increase. The issuer may consider several factors, including your credit score, information on your credit history and your income, as well as timely payments with your card.
After the first evaluation, evaluations are done regularly as long as your account is in good standing.
No security deposit is required
Since it’s an unsecured credit card, you don’t need to submit a security deposit for the Mission Lane Visa® Credit Card. This will save you a little cash upfront.
Do remember, though, that, depending on your creditworthiness, you may have to pay an annual fee for the card. Unlike a security deposit, you’ll have to pay this annual fee as long as the account is open, and it’s non-refundable.
Reports activity to all three credit bureaus
When you use the Mission Lane Visa® Credit Card, all your payments are reported to the three major credit bureaus: Equifax, Experian and TransUnion. This is ideal for building credit. When you apply for a credit card, auto loan or a mortgage in the future, the lender will see your payment history on the card, no matter which bureau they use.
Annual fee
The annual fee for the Mission Lane Visa® Credit Card ranges from $0-$59, and is determined by your creditworthiness. You won’t know which fee you’ll pay until you are approved for the card. If you want to avoid an annual fee, consider a secured credit card — many don’t charge annual fees.
High APR
Like the annual fee, your APR with the Mission Lane Visa® Credit Card is determined during the approval process and will range between 19.99 - 29.99% Variable. While the low end of this range is reasonable, applicants with low scores could land a very high APR.
This may not be a problem if you don’t carry a balance from month to month. However, emergencies do happen, so make sure you can cover the interest and any applicable fees if you miss a payment.
No sign-up bonuses or rewards
A sign-up bonus or a rewards program can put a little money back in your pocket, and may even help make up for an annual fee. Unfortunately, this card has neither.
When you are focused on building credit, rewards shouldn’t be the highest priority. If you keep your credit utilization low and make your payments on time, you may be able to qualify eventually for a good rewards credit card. However, if rewards are an important feature for you, you can find some solid credit cards for people with bad credit that include rewards programs.
| Credit Cards | Our Ratings | Annual Fee | Regular APR | Recommended Credit Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion | |
|---|---|---|---|---|---|
|
Mission Lane Visa® Credit Card*
|
$0-$59 | 19.99 - 29.99% Variable | Fair | ||
AvantCard Credit Card
 Apply Now
on Avant's secure site |
$59 | 35.99% | Limited / Poor / Fair |
Apply Now
on Avant's secure site |
|
Discover it® Secured Credit Card*
|
$0 | 27.74% Variable APR | Limited / Poor | ||
Capital One Quicksilver Secured Cash Rewards Credit Card
Apply Now
on Capital One's secure site Rates & Fees |
$0 | 29.99% (Variable) | Limited / Poor |
Apply Now
on Capital One's secure site Rates & Fees |
Your payment history is reported to the credit bureaus and Discover may even graduate you to an unsecured card in less than a year. Account reviews begin automatically after seven months. If you qualify for an unsecured card, you can get your deposit back.
After six months, you will automatically be considered for a credit line increase without needing to put down an additional deposit. Over a year or two, as you build credit, this card will keep more money in your bank account than the Mission Lane Visa® Credit Card.
On the downside, the card’s APR is 29.99% (Variable), so make sure you’re prepared to pay off your balance each month before you apply (see rates & fees).
If you’re simply looking for a card that’s quick and easy to qualify for, the Mission Lane Visa® Credit Card may be right for you. However, you should be prepared for an annual fee and potentially high APR.
If you are able to put down a deposit for a secured credit card, you should. Some secured credit cards — like the Discover it® Secured Credit Card and Capital One Quicksilver Secured Cash Rewards Credit Card (see rates & fees) — offer $0 annual fees for all cardholders. These cards also offer rewards that you can apply to your credit card balance.
For Capital One products listed on this page, some of the above benefits are provided by third parties such as Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as certain terms, conditions, and exclusions apply.
The information related to the Mission Lane Visa® Credit Card and Discover it® Secured Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
