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Mission Lane Cash Back Visa® Credit Card review: A chance to build credit and earn rewards

You can enjoy cash back, low fees and no deposit requirement with only a fair credit score

 /  10 min
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Snapshot

4.5

Bankrate rating
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Rating: 4.5 stars out of 5

Bottom line

If you have fair credit, the Mission Lane Cash Back Visa could be a great fit if you’re eager to earn rewards and want to avoid putting down a security deposit or paying a high annual fee. This card also offers free credit score monitoring to help you track your progress as you increase your score.

Best for up to 1.5 percent cash back

Mission Lane Cash Back Visa® Credit Card

Mission Lane Cash Back Visa® Credit Card

Recommended credit score:(580 - 740)

Intro offer

N/A

Rewards rate

1-1.5% Cash Back

Annual fee

$0

Regular APR

26.99% - 29.99% (Variable)

4.5
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Bankrate Score

Cost of membership

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5.0 / 5

Ease of building credit

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3.0 / 5

APR

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1.0 / 5

Features

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5.0 / 5
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Mission Lane Cash Back Visa® Credit Card overview

The Mission Lane Cash Back Visa Credit Card is a credit-building card for people with fair credit. It’s an upgraded version of the Mission Lane Visa® Credit Card, a credit-building card geared more toward people with bad credit.

Other than the credit requirements, the biggest difference between the two cards is the Cash Back Visa card’s rewards program, which lets you earn 1 percent or 1.5 percent cash back on purchases, depending on your creditworthiness. The Mission Lane Cash Back Visa also carries no deposit requirement, offers prequalification and even gives you a chance at a credit limit increase after seven months of on-time payments.

These perks, especially the cash back program, are hard to find on unsecured credit-building cards. Considering the Cash Back Visa charges no annual fee, it could be a good choice if you’re looking for a low-cost way to earn rewards while working on your score.

That said, people with fair credit have plenty of options. While the Mission Lane Cash Back card is a rewarding choice, its potentially low starting credit limit and high APR may make other cards more suitable for credit-builders with less responsible credit habits.

  • Credit Card Cash Back Icon

    Rewards

    • Unlimited 1 percent or 1.5 percent for all qualifying purchases

    Expert Appraisal: Good
    See our expert analysis

  • Credit Card Search Icon

    Rates and fees

    • Annual fee: $0
    • Regular APR: 26.99 percent to 29.99 percent
    • 3 percent foreign transaction fees
    • Late payment fee of up to $35

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Fair Icon

    Credit-building features

    • Automatic consideration for a higher credit line in as few as 7 months
    • Free, online credit score access for cardholders
    • Instant decision on your application
    • No security deposit required

    Expert Appraisal: Good
    See our expert analysis

Mission Lane Cash Back Visa pros and cons

Pros

  • Checkmark Icon

    You may be eligible for a credit limit increase after the first seven months, which can help improve your credit score by lowering your credit utilization ratio.

  • Checkmark Icon

    You get free access to your credit score and credit-building tools to help build good financial habits.

  • Checkmark Icon

    Cardholders can earn an unlimited 1 percent or 1.5 percent cash back on eligible purchases, which is rare for credit-building cards.

Cons

  • This card’s minimum credit limit is $300, which may not give you much room to maintain low credit utilization.

  • The variable APR is higher than the average credit card interest rate, which makes carrying a balance costly.

  • A confusing prequalification process may make it unclear which Mission Lane card the issuer approves you for.

Why you might want the Mission Lane Cash Back Credit Card

Along with its ongoing rewards, the Mission Lane card has a few good features that help make it an option credit-builders should consider. Here’s a look at the card’s top perks.

Rewards rate: A possible advantage

The Mission Lane Cash Back Visa card’s 1 percent to 1.5 percent flat cash back rate is typical of the rate on the few credit cards for fair credit that offer rewards. Since many credit-building cards carry no rewards, the Cash Back Visa card’s program is a big plus. Although these rates are among the lowest rewards rates you’ll find on any rewards card, your cash back can stack up over time and be a nice nest egg as you improve your credit.

Application: Save time with an instant credit decision and a soft pull

The Mission Lane Cash Back Visa offers an instant approval decision if you qualify. This process is ideal for anyone who wants to know right away whether they will be approved or denied. If approved, you can start building good credit habits as soon as the card arrives. If denied, you can at least quickly move on with your search for the right credit card. To qualify for an instant credit decision, you must input your information accurately when applying. 

Almost all card applications require a hard pull of your credit when you submit an application — which temporarily lowers your credit score — but soft pull prequalification helps save time and lowers the chances of applying and getting denied for a credit card. Mission Lane’s soft credit check process won’t impact your credit. If you qualify for the card and your information can be verified, Mission Lane states you will be approved. However, the issuer will perform a hard credit pull if you go through with the application, which could temporarily drop your score.

Benefits: No security deposit required and other credit-building tools

One of the Mission Lane card’s best features is that it’s an unsecured credit card for people with fair credit. Card issuers take on more risk when they extend credit to borrowers with a limited or fair credit history without requiring a security deposit, so this card is a rarity. You won’t have to tie up money in a security deposit until you upgrade or close your account, as you would with most secured cards. 

Mission Lane will also review your card account to see if you’re eligible for an increased credit limit after seven months. If your account is in good standing (not overdue or over its limit), the issuer will expand your credit limit beyond your starting limit. That’s a relatively short time frame for an unsecured card available with fair credit, and it could help you keep your credit utilization in check via more available credit. Since credit utilization makes up 30 percent of your FICO credit score, offering a chance at a higher credit limit is a big plus for a credit-building card like the Mission Lane Cash Back Visa.

Why you might want a different card for fair credit

Though the Mission Lane Cash Back Credit Card has great credit-building perks, it has a few drawbacks. This card can be costly if you carry a balance or are new to using credit cards. Between the fees and the low rewards rate, it might be more trouble than it’s worth.

Rates and fees: Added costs make this card expensive

The Mission Lane Cash Back card’s rates and fees are typical for this type of credit card, but they could still add up. To start, the variable APR for the card is 26.99 percent to 29.99 percent, which is higher than the average credit card interest rate.

You must also factor in the Mission Lane card’s up to $35 late payment fee, which isn’t unusual for a credit-building card, as other cards often charge up to $40. After that, the Mission Lane Cash Back’s late payment fee is up to $41. Finally, Mission Lane’s 3 percent foreign transaction fee can make traveling abroad expensive. Even if you qualify for the 1.5 percent rewards rate, the foreign transaction fee can negate any rewards you may earn on a trip abroad.

Credit limit: Hard to keep utilization low

At the bare minimum, your credit limit is $300. This limit is still relatively low, so you’ll need to monitor your credit utilization to avoid damaging your score. A good rule of thumb is to keep your credit utilization below 30 percent (with $300 in available credit, that’s $90) — but the lower your credit utilization, the better. If you spend more than $90 a month, your best option is to pay off your balance frequently throughout the billing cycle to keep your credit line available. Plus, if you pay off your balance entirely each month, you can avoid the card’s high interest rate, which would only increase your utilization and potentially negate your rewards.

How the Mission Lane Cash Back Visa® Credit Card compares to other credit cards for fair credit

You should evaluate other options before applying for any credit card, but especially one like the Mission Lane Cash Back because you might find that an unsecured card won’t be an ideal fit for you. For example, a secured card could be a better fit even if it doesn’t have all the features you’re looking for. Here’s a look at two other credit cards for people with fair credit.

Image of Mission Lane Cash Back Visa® Credit Card

Mission Lane Cash Back Visa® Credit Card

Annual fee

$0

Intro offer

N/A

Rewards rate

1-1.5% Cash Back
Info Icon

Recommended Credit Score

Fair to Good (580 – 740)
Info Icon
Image of Capital One QuicksilverOne Cash Rewards Credit Card

Annual fee

$39

Intro offer

N/A

Rewards rate

1.5% - 5%
Info Icon

Recommended Credit Score

Fair to Good (580 – 740)
Info Icon
Image of Capital One Platinum Secured Credit Card

Annual fee

$0

Intro offer

N/A

Rewards rate

N/A

Recommended Credit Score

No Credit History
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Who should get the Mission Lane Cash Back?

The Mission Lane Cash Back Card is a fairly straightforward card to use. With great credit-building tools and low fees built into the card, the Missions Lane is very useful to those who need more simplicity than a typical rewards card. 

Bankrate’s Take — Is the Mission Lane Cash Back Visa worth it?

The Mission Lane Cash Back Visa card is a solid credit-building option if you’re looking for a card that earns rewards and requires no security deposit. But there are other options out there, even if you’re set on an unsecured card.

If you don’t mind tying up a bit of money temporarily in a security deposit, it’s also worth looking into secured credit cards since they can give you a bit more control over your credit limit and help you keep credit utilization in check.

Rating methodology

Document Icon
50+
cards rated
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500+
data points analyzed
Debt Icon
250+
fees tracked
Credit Card Reviews Icon
40+
perks evaluated

Our proprietary card rating system takes into account a mix of factors when scoring credit cards for people building credit, including each card’s cost, APR, credit-building tools and more.

We analyzed over 50 of the most popular cards designed for people with no credit history, bad credit or a fair credit score and scored each based on where its key features stood in relation to others in its category. 

Here are some of the key factors that gave this card its score: 

What cardholders think

Image of Mission Lane Cash Back Visa® Credit Card

Mission Lane Cash Back Visa® Credit Card

4.4 Star Icon
36 ratings
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Score breakdown
5 stars
56%
4 stars
31%
3 stars
11%
2 stars
3%
1 star
0%
Score by category
Overall 4.4 / 5
Extra perks 3.6 / 5
Meets financial needs 4.1 / 5
Privacy and security 4.6 / 5
Customer service 4.1 / 5
Online portal or mobile app 4.6 / 5

In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.

Community Reviews

Explore Mission Lane Cash Back Visa® Credit Card reviews from certified cardholders.
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Anonymous Cardholder
May 31, 2024
What made you choose this card?
To rebuild my credit after a bankruptcy
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
got a free meal
Score by category
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Why would you or would you not recommend this card to a friend?
They offer a high reward as cash back really fast
Score by category
Extra perks 5 / 5
Meets financial needs 4 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
What made you choose this card?
To build credit score
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
They stuck with me when my credit score was low so I like them
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Why would you or would you not recommend this card to a friend?
Because it is very easy to use and has good benefits
Score by category
Extra perks 4 / 5
Meets financial needs 5 / 5
Online portal or mobile app 4 / 5
Customer service 4 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Why would you or would you not recommend this card to a friend?
I recommend it to friends because I am always happy with my service and experience
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
I was able to use this credit card to help repair my credit. I had a low credit limit and the card reported to the three credit companies each month. With on time payments I was able to get an increased credit limit.
Score by category
Meets financial needs 4 / 5
Online portal or mobile app 5 / 5
Customer service 4 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
What made you choose this card?
I was building my credit score from credit karma and they suggested them highly. I have pleased with them and so glad I chose them.
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
I have been able to use my cash back towards my credit card payment each month.
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
What made you choose this card?
Very good rates and customer service
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Is this card a part of your everyday life, why or why not?
This card is not apart of my everyday life
Score by category
Extra perks 2 / 5
Meets financial needs 2 / 5
Online portal or mobile app 2 / 5
Customer service 3 / 5
Privacy and security 3 / 5
Anonymous Cardholder
May 31, 2024
What made you choose this card?
I chose this card because I got an invitation from them in the mail and it looked like a great card to have on hand.
Score by category
Extra perks 4 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 4 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Why would you or would you not recommend this card to a friend?
PAYMENTS IS LOW EASY TO MAKE PAYMENT
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Is this card a part of your everyday life, why or why not?
Yes, an extra card.
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Is this card a part of your everyday life, why or why not?
Use to pay bills and on line shopping.
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
This is another great credit card option with low, fair rates and minimum amount due each month. Cash advance is a generous bonus too.
Score by category
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
Good customer service
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Why would you or would you not recommend this card to a friend?
No annual fee and great customer service
Score by category
Extra perks 4 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
Cash back is awesome and no limits on cash advances. It also is amazing that the cards is able to be linked to all my wallets.
Score by category
Extra perks 5 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
What made you choose this card?
Signed up mainly for bonus reward for signing up
Score by category
Extra perks 4 / 5
Online portal or mobile app 5 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
Got a free meal at DoorDash
Score by category
Extra perks 4 / 5
Meets financial needs 4 / 5
Online portal or mobile app 4 / 5
Customer service 3 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
It's been a great experience
Score by category
Extra perks 3 / 5
Meets financial needs 4 / 5
Online portal or mobile app 4 / 5
Customer service 5 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
Is this card a part of your everyday life, why or why not?
Yes it is. I use it when I need to.
Score by category
Extra perks 4 / 5
Meets financial needs 4 / 5
Online portal or mobile app 5 / 5
Customer service 3 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Is this card a part of your everyday life, why or why not?
No, it’s not. I use it when there’s an emergency.
Score by category
Extra perks 4 / 5
Meets financial needs 4 / 5
Online portal or mobile app 5 / 5
Customer service 4 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
What made you choose this card?
The cash back rewards
Score by category
Extra perks 3 / 5
Meets financial needs 2 / 5
Online portal or mobile app 4 / 5
Customer service 4 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
I’ll have 2% cash back when I buy something from this card
Score by category
Extra perks 4 / 5
Meets financial needs 4 / 5
Online portal or mobile app 4 / 5
Customer service 4 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
Why would you or would you not recommend this card to a friend?
i would not recommend this card due to high interest rates
Score by category
Extra perks 3 / 5
Meets financial needs 4 / 5
Online portal or mobile app 4 / 5
Customer service 4 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Is this card a part of your everyday life, why or why not?
I use this card for large purchases.
Score by category
Extra perks 4 / 5
Meets financial needs 5 / 5
Online portal or mobile app 5 / 5
Customer service 5 / 5
Privacy and security 5 / 5
Anonymous Cardholder
May 31, 2024
Why would you or would you not recommend this card to a friend?
This is my newest card and I have only used it twice but I would recommend it to a friend. I received it really quick and I have no complaints.
Score by category
Extra perks 4 / 5
Meets financial needs 4 / 5
Online portal or mobile app 4 / 5
Customer service 4 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
Why would you or would you not recommend this card to a friend?
I would recommend this card because it has some good features. It’s only a $500 credit limit which works for me. If you don’t need to use it for more than $500 it’s pretty decent.
Score by category
Extra perks 2 / 5
Meets financial needs 3 / 5
Online portal or mobile app 4 / 5
Customer service 4 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
Why would you or would you not recommend this card to a friend?
I would recommend to a friend because it is a reasonable card on rates and fees
Score by category
Meets financial needs 3 / 5
Online portal or mobile app 4 / 5
Customer service 4 / 5
Privacy and security 3 / 5
Anonymous Cardholder
May 31, 2024
Is this card a part of your everyday life, why or why not?
Interest too high
Score by category
Extra perks 3 / 5
Meets financial needs 3 / 5
Online portal or mobile app 4 / 5
Customer service 4 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
What made you choose this card?
Took an offer
Score by category
Extra perks 3 / 5
Meets financial needs 3 / 5
Online portal or mobile app 3 / 5
Customer service 3 / 5
Privacy and security 3 / 5
Anonymous Cardholder
May 31, 2024
Is this card a part of your everyday life, why or why not?
This card is not part of my everyday card. I use it sparingly
Score by category
Extra perks 3 / 5
Meets financial needs 3 / 5
Online portal or mobile app 5 / 5
Customer service 4 / 5
Privacy and security 4 / 5
Anonymous Cardholder
May 31, 2024
Tell us about an experience you had because of the benefits earned from the card
The cash back option is automatically applied to the card balance. That’s a nice option.
Score by category
Extra perks 3 / 5
Meets financial needs 3 / 5
Online portal or mobile app 5 / 5
Customer service 3 / 5
Privacy and security 5 / 5
Written by
India Davis
Editor, Credit Cards
India Davis is an editor specializing in credit cards and updates. She believes in putting the reader first and carrying out a brand’s voice to its fullest potential. She has lived and worked in three different countries and hopes to explore more of the world post-pandemic.
Edited by Senior Editor, Credit Cards

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.