Mission Lane Visa® Credit Card Review (2023)

If you are looking to build your credit, you might be considering the Mission Lane Visa® Credit Card. You might be able to qualify for this card if your credit is less than perfect, and there is no minimum security deposit. These features can help reduce the barriers to entry for credit builders and make the Mission Lane Visa® Credit Card seem like an appealing option.

Mission Lane Visa® Credit Card

Regular APR

29.99-33.99% Variable

However, there are plenty of caveats to keep in mind. For instance, you might have to pay an annual fee, and the annual percentage rate (APR) can be high. You’ll need to weigh these and some other downsides to this card to decide if it’s right for you.

TIME’s Take

The Mission Lane Visa® Credit Card has reasonable annual fees and doesn’t require a security deposit, making it a decent choice for credit builders. However, other credit-builder cards offer perks like cash back and have fewer fees. It’s worth looking into the alternatives before signing up.

Mission Lane Credit Card: Pros and cons


  • Qualify with limited or imperfect credit.
  • No annual fee.
  • No minimum security deposit.


  • APR can be high.
  • Doesn’t earn rewards.
  • Credit limit can be as low as $300 to start.

Who is the card for?

The Mission Lane Visa® Credit Card is a credit card for people with bad credit who want to raise their credit score. While Mission Lane doesn’t explicitly state a minimum credit score for this card, you may be able to qualify with a score of 629 or lower. If you aren’t sure if you’ll be able to qualify, you can pre-qualify on the Mission Lane website before you apply.

This card is also for those who don’t want to put down a large security deposit upfront. Often, credit cards meant for those with poor credit require a security deposit that equals your credit limit. Instead, this card  uses such factors as your income and credit history to determine your credit limit. Mission Lane will also reevaluate your account at least once every 12 months to see if you qualify for a higher credit limit.

Finally, Mission Lane reports your credit activity to the three major credit bureaus (Experian, TransUnion, and Equifax). This means that exercising responsible credit usage with this card will help boost your credit score.


Not the cheapest option

The Mission Lane Visa® Credit Card has annual an fee of $0. The annual fee varies by offer. While this isn’t the highest annual fee in the industry, it can be steep for those who are just building their credit. Plus, some alternatives, such as the card_name, don’t have annual fees at all.

High APR

While the APR on this card is variable, it can be somewhat high. With an APR of 29.99%, you could end up paying at least as much as your annual fee just in interest charges every year. It’s always best to avoid carrying a balance if possible. Those who do carry a balance with this card will probably wish they hadn’t.

Low credit limit

The credit limit on this card starts at just $300. Mission Lane might increase your credit limit if you use the card responsibly in the first year, but you’ll still be left with a paltry limit in the meantime. If you are looking for a card that increases your spending power, this may not be the best option.

The fine print

  • Annual fee: $0
  • Purchase intro APR: N/A
  • Balance transfer intro APR: N/A
  • Regular APR: 29.99-33.99% (Variable)
  • Cash advance fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
  • Foreign transaction fee: 3% of each transaction in U.S. dollars
  • Late fees: Up to $35

Additional hidden perks

This card doesn’t have a whole lot of benefits other than those we’ve already discussed. As mentioned, the card doesn’t earn rewards, which could be disappointing if you want to stretch your budget further. You do get zero fraud liability and Roadside Dispatch®, but these are basic features available to all Visa cardholders. If you are looking for something with more perks, there are likely better options available.

What could be improved

The main areas of improvement for this card are its fees, lack of rewards and benefits, and potentially low credit limit. Some credit cards for bad or no credit don’t charge an annual fee. And considering this card’s APR is relatively high, you could end up paying for it in more ways than one.

The other thing that could be improved is the credit limit, which starts at $300. That being said, there is a balance to strike given that this card doesn’t require a security deposit. Since it is marketed for those with bad credit, Mission Lane understandably has to protect itself by not offering too much credit to those with poor credit without a deposit.

That also brings us to another thing that could be improved, which is you can’t upgrade this to a “good credit” card with better benefits, such as cash back. If you want extra benefits, you would have to build your credit with this card and then apply for a credit card with a different issuer later on.

Card alternatives

The bottom line

The Mission Lane Visa® Credit Card is a decent choice for credit builders as it doesn’t require a security deposit and you may be able to qualify with less-than-perfect credit. While you might have to pay an annual fee, it won’t be terribly expensive. Just watch out for other fees, like cash advance and foreign transaction fees. This card also has a somewhat high APR and no extra benefits or perks. Overall, it’s not a bad choice for credit builders, but it’s also worth keeping the alternatives in mind.

Mission Lane Visa® Credit Card

Frequently asked questions (FAQs)

Which bank issues the Mission Lane Credit Card?

The Mission Lane Visa® Credit Card is issued by Transportation Alliance Bank (TAB). The card uses the Visa network and TAB is a member of the Federal Deposit Insurance Corporation (FDIC).

How to pay your Mission Lane Credit Card

There are several ways to pay your Mission Lane Credit Card. The fastest and easiest, according to Mission Lane, is to pay online. You can also pay with the mobile app, by phone, or by mail.

How to activate the Mission Lane Credit Card

You can activate your card by going to MissionLane.com/activate or by calling 855-307-1240.

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