Mission Lane Visa® Credit Card: No Security Deposit, Automatic Credit Limit Reviews | Pros, Cons, FAQs


Mohit Kamboj

This card can assist you in creating credit, which is beneficial. However, it’s important to note that this service may not offer many additional features, despite the requirement of an annual fee for usage.

The Mission Lane Visa Card doesn’t ask for a security deposit, but it might have an annual fee. Some credit cards for people with bad credit do not have any fees. In general, the Mission Lane Visa Card is not the worst option, but there are also better choices available.

Pros Cons
  • Qualify with limited credit
  • No security deposit
  • Automatic credit-limit reviews
  • Annual fee
  • No rewards

A Glance at Mission Lane Visa® Credit Card

Card Type Annual Fee Sign-up Bonus Rewards APR (Ongoing) Foreign Transaction Fee
Alternative and Starter $0-$59 N/A None 26.99%-29.99% Variable 0.03

Benefits and Perks of Mission Lane Card

  • Accessibility
  • No Security Deposit
  • Credit Limit Increase
  • Fast Process


You might still be able to get the Mission Lane Visa® Credit Card even if you have bad credit. Mission Lane and its granting bank can look at your credit score, but they can also look at your income, how much credit you use, and how much debt you have compared to your income. So, be ready to show your W2, 1099, pay stubs, or proof of benefits when you apply for a credit card.

No Security Deposit

The Mission Lane Visa® Credit Card doesn’t require a security deposit like some other credit cards for people with bad credit do. Most of the time, the amount of your security fee becomes your credit limit when you have a protected card. Mission Lane gives you a credit limit instead, based on your application.

Credit Limit Increase

Mission Lane will automatically review and potentially increase your credit limit within the first year of opening your account. If you have made your first six payments on time, don’t have any overdue balance, and haven’t used up all your credit card limit, you might qualify for an increase in your credit line.

Fast and Easy Process

If you’re thinking of applying for the Mission Lane Visa® Credit Card, you can first go through Mission Lane’s pre-qualification process. This will help you determine if it’s worth it to have a hard inquiry on your credit scores, even though it will only have a temporary impact.

Once you have been pre-approved, you will find out the APR rate and annual fee, if applicable. If you don’t like the terms, you have the option to say no to the offer. The pre-qualification process only involves a soft inquiry, so it won’t impact your credit score.

Drawbacks of Using Mission Lane Card

  • Annual Charges
  • No Rewards
  • No Upgrade Path

Annual Charges

If the offer requires it, you may need to pay a yearly fee for the Mission Lane Visa® Credit Card. The maximum annual fee you will have to pay is $59. However, please note that the annual fee is treated like a regular charge on your credit card and will automatically decrease your available credit limit. Imagine you have a credit card with a maximum spending limit of $500. Additionally, there is an annual fee of $25 that you have to pay. Your starting credit limit is $475. Your credit limit will only increase to its full amount once you have paid off the annual fee.

No Rewards

Getting cash back can help reduce the amount you have to pay for a credit card’s yearly fee. I’m sorry, but the Mission Lane Visa® Credit Card does not offer any rewards. Even if you have bad credit, there are still credit cards available that offer cash-back rewards at decent rates. The Discover it® Secured Credit Card gives you 2% cash back on up to $1,000 spent each quarter on restaurants and gas, and 1% cash back on all other purchases. Although a security deposit is necessary, the annual fee for that card is $0.

No Upgrade Path

Mission Lane Visa® Credit Card holders cannot upgrade to another card within the Mission Lane system. The only benefit you receive for using credit responsibly is an increase in your credit limit. If you want to get another credit card with better benefits because you have improved your credit scores, you will need to apply for a different card from a different company.

If you get approved for the other card, you will need to decide what to do with your Mission Lane Visa® Credit Card. If you have a credit card that you’ve had for a long time and you decide to cancel it, your credit score may decrease. However, if you no longer plan to use the Mission Lane Visa® Credit Card and it charges an annual fee, it might be better to cancel it instead of paying for a card that you don’t use.

Indefinite Credit Limit Policy

It is difficult to determine how useful the Mission Lane Visa® Credit Card is because Mission Lane does not provide information about the minimum or maximum credit limit for the card. Credit limits of $500, $1000, or $3000, for instance, have significant differences. If you’re worried about how much you can spend with the Mission Lane Visa® Credit Card, you might want to consider getting a secured card instead.

With a secured card, you have more control over your spending and can determine your own financial future. The Capital One Quicksilver Secured Cash Rewards Credit Card lets you deposit more than the minimum $200 if you want a higher credit limit. This card also gives you rewards, has an option to upgrade, and doesn’t have an annual fee.


What is the Mission Lane Visa® Credit Card, and who is it suitable for?

The Mission Lane Visa® Credit Card is designed to help individuals build credit. It is accessible to those with limited credit history and does not require a security deposit.

How does the credit limit work with the Mission Lane Visa® Credit Card?

The credit limit is determined based on your application and creditworthiness. Mission Lane may increase your credit limit automatically within the first year if you meet certain criteria.

What are the drawbacks of using the Mission Lane Visa® Credit Card?

The card may have an annual fee, and it does not offer any rewards. Additionally, there is no upgrade path within the Mission Lane system.

Is there a way to avoid the annual fee for the Mission Lane Visa® Credit Card?

The annual fee may apply depending on the offer. It is automatically deducted from your available credit limit. Paying off the annual fee will restore your full credit limit.

Can I control my credit limit with the Mission Lane Visa® Credit Card?

Mission Lane does not disclose the specific credit limit policy for the card. If you want more control over your spending, consider a secured card with options for higher credit limits and potential rewards.