Mission Lane offers credit cards designed to build or rebuild your credit. The card you receive will be based on your credit score and income, so if you have bad or fair credit, Mission Lane might be a good option.
The basic version of the card has a $5 monthly membership fee and no annual fee; people with excellent credit will get the Select version, which has no membership fee or annual fee.
Both versions offer chip technology and are accepted wherever Visa is accepted; they also offer online access to manage your account and make payments.
If you view at least two educational videos each month, your APR might be reduced by 1% after three months, 2% after six months, 3% after nine months, and 4% after 12 months; those with excellent credit may see their limit increase if they haven’t missed any payments in five months (up to $1,500).
Mission Lane Offers Credit Cards Designed to Build or Rebuild Your Credit
Mission Lane offers credit cards designed to build or rebuild your credit. You’ll be assigned a card based on your credit score and can get one with no annual fee or one with a $5 monthly fee.
There are many reasons why you might need a new credit card. Still, if you’re looking for one to rebuild your credit after having experienced difficulty in the past, then Mission Lane offers an exciting option that might be worth considering.
The Card You Receive Will Be Based on Your Credit Score and Income
The card you receive will be based on your credit score and income. The basic version of the card has a $5 monthly membership fee and no annual fee, but it offers fewer perks than the Select version.
If approved for the latter, you’ll get access to exclusive events that can help build your network or provide helpful information about your career.
The Basic version also comes with a lower credit limit than its Select counterpart (up to $20,000). You can also use this card as an ATM card at thousands of ATMs nationwide without incurring fees (as long as it’s part of Bank of America’s Global ATM Alliance).
You May Have to Pay a Membership Fee Depending on Your Credit
You may have to pay a membership fee depending on your credit. The card you receive will be based on your credit score and income. The basic version of the card has a $5 monthly membership fee and no annual fee, but you can upgrade to either one for $35 per year.
There’s no interest rate for this card, which is something you should check before applying for any credit card. There is also no balance transfer, cash advance, late, over-the-limit, or foreign transaction fees to worry about if you decide to move some money on your Lane Credit Card account.
You won’t get hit with a penalty APR either if you’re late on payments or over your limit—it’s still important to be responsible with these things, though.
People with excellent credit will get the Select card version, which has no membership fee or annual fee. The Premier version of the card has no annual membership or late fees.
There are also no cash advance fees and balance transfer fees. You won’t be charged foreign transaction or over-limit fees, either, and if you’re a responsible cardholder with this card in good standing (that is if you pay off your balance each month), there won’t be any returned payment fees either.
Mission Lane’s Cards All Have Chip Technology and Are Accepted Wherever Visa is Accepted
The Mission Lane cards are all chip-enabled and accepted wherever Visa is accepted. The cards are accepted online, in-person, over the phone, and ATMs. They’re also accepted at gas stations and grocery stores.
The cards offer online access to manage your account and make payments. You can use the cards to make payments. You can also manage your account online or by phone. You can set up automatic payments.
If you use a bank account, you must have an account in good standing with the bank and have at least one direct deposit into that account within six months of opening an Elan Financial Services credit card account (for example, if you already had a checking or savings account with Elan, it would count as a direct deposit).
The minimum monthly payment will be automatically deducted from your checking/savings account on the due date if funds are available; otherwise, it will be deducted from your credit card balance until paid in full.
Using the Mission Lane Card for Viewing
If you view at least two educational videos each month, your APR might be reduced by 1% after three months, 2% after six months, 3% after nine months, and 4% after 12 months. You must also pay your monthly credit card bill on time for the deal to take effect. This limited-time offer is available only to new Lane Credit Account customers.
Pros of Mission Lane Card
The credit card reports to the three major credit bureaus; this could help build your credit.
With the mission lane card, you could improve your credit score and qualify for a higher credit line after you make your first six payments on time.
The Mission Lane Card requires no security deposit.
Cons of Mission Lane Card
The card has a highly variable purchase APR which could cost you interest payment.
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