Mission Lane Visa Credit Card Review 2023: Is This Credit-Building Card Worth It?

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Quick Take: The Mission Lane Visa Credit Card offers people with lower credit scores the chance to build their credit responsibly. While it doesn't require a minimum balance or security deposit, it may not have enough benefits to stand out among the competition.
  • Fees
  • APR
  • Benefits
  • Customer Service
How did we calculate this?


  • No minimum balance
  • No security deposit
  • No over-the-limit fees
  • Automatic credit line increases
  • Reports to all three credit bureaus


  • Relatively high variable APR
  • Potentially high annual fee
  • No cash-back rewards or other perks

    Mission Lane Overview

    Mission Lane is not as well-known as other credit card issuers, but it is trying to make an impact in the financial industry. The company calls itself a “next-generation financial technology company” that helps people access financial tools.

    Key Features

    Here are several key features to consider before deciding to apply for a Mission Lane credit card.


    Among credit cards targeted toward people with low credit scores, Mission Lane stands out by not requiring a security deposit. This can help lower the initial barrier to applying for a credit-building card.

    However, the company charges an annual fee of up to $59. This may potentially turn off some applicants who are looking for an entry-level card that doesn’t cost so much to use.


    The Mission Lane Visa Credit Card has an APR range of 19.99% to 29.99% variable, depending on your financial profile. In comparison, the average credit card interest rate in the U.S. is currently 20.4%, according to the Federal Reserve. This places the Mission Lane credit card above average, which may be unappealing to people who are worried about racking up high interest fees over time.

    However, many credit cards for people with bad credit or no credit history have high APRs. When considering the Mission Lane credit card in terms of its target audience, it compares more favorably and may have a lower APR than other options in its category.


    The Mission Lane credit card lacks the benefits offered by other products in its category. For example, cardholders won’t receive any welcome bonuses or cash-back offers.

    However, the card does offer some benefits to people with lower credit scores and provides an accessible entry point to building credit. Mission Lane may automatically increase your credit line once a year if you pay your bills on time. Since the company reports to all three major credit card bureaus, this can improve your credit score in the long run.

    It also comes with standard VISA benefits like $0 fraud liability and worldwide payment processing. In addition, you can manage your account online or through the mobile app.

    Customer Service

    Mission Lane offers phone support to cardholders Monday through Friday from 9 a.m. to 8 p.m. EST. Otherwise, it can be contacted 24/7 through its online help center or by email.

    How the Mission Lane Credit Card Stands Out

    The Mission Lane credit card doesn’t offer extra perks like cash back or welcome bonuses.

    However, where it does stand out is in its commitment to helping customers succeed, no matter where they stand financially. Mission Lane pledges to provide outstanding support to all its clients, whether they have good credit or not. One of the ways it does that is through its extensive educational resource section, which offers easy-to-understand financial tips and information.

    Comparable Mission Lane Credit Card Options 

    If you’re looking for an alternative, check out the following credit card options.

    Credit Card

    If Mission Lane’s $59 annual fee is stopping you from applying, consider the Discover it® Secured Credit Card. Like the Mission Lane credit card, this secured card is meant to help people build credit.

    Discover’s credit card offers several advantages over Mission Lane’s. It has zero annual fees and a — close to the middle of the Mission Lane Visa’s APR range. It also offers rewards, allowing cardholders to gain 1-2% cash back for qualifying purchases. However, being a secured card, it requires a security deposit of at least $200 to open.

    Petal® 2 Visa® Credit Card

    This credit card from Petal is built for consumers with little to no credit. It offers a variety of friendly features to help you build credit and earn rewards. 

    Its main advantage over the Mission Lane credit card is that it has no fees. There are no annual fees, no foreign transaction fees, no returned payment fees and even no late fees. Cardholders can also earn up to 1.5% cash back on everyday purchases. However, if you miss a payment, watch out for the higher variable APR, which can go up to 31.49%.

    How To Apply

    Mission Lane makes it easy to apply for a credit card on its website. Before applying, you can fill out a short form to see if you’re pre-qualified. The pre-qualification process won’t impact your credit.

    To submit a full application, you’ll need the following information:

    • Street address
    • Social Security number
    • Income information
    • An active phone number
    • An active email address
    • Your offer code

    Who the Mission Lane Credit Card Is Best For

    The Mission Lane credit card is best for people who want to build or repair their credit score without paying a security deposit. However, it doesn’t have as many perks as similar cards in its range. As a result, people with fair credit may want to try getting approved for another credit-building card first before trying out the Mission Lane Visa.

    Final Take

    The Mission Lane Visa Credit Card offers an accessible entry point for people looking to build their credit with no minimum deposit.

    But with no welcome bonus, no cash-back rewards, up to a $59 annual fee and a relatively high APR, the Mission Lane Visa Credit Card has fewer features than other cards geared towards credit-building.


    • What credit limit does the Mission Lane Visa start with?
      • Mission Lane does not publish its starting credit limit. However, because it is designed to help people build credit, it is likely that your starting credit limit will be low.
    • Is the Mission Lane credit card a Visa?
      • The Mission Lane card is a genuine Visa credit card. This means it can be used anywhere in the world that accepts payment via Visa.
    • What bank issues the Mission Lane credit card?
      • The Mission Lane credit card is issued by the Transportation Alliance Bank, Inc. and WebBank.
    • Does Mission Lane do a hard pull?
      • Mission Lane does make a hard inquiry on your credit report during the formal application process. However, it allows applicants to go through a pre-qualification process before applying, which allows you to see if you're likely to be approved without impacting your credit score.

    Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.


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