Mission Lane Credit Card Reviews: What Real Customers Say
Mission Lane credit cards target consumers with poor credit but have extremely low customer satisfaction ratings across multiple platforms. High interest rates, denied credit increases, and poor customer service are common complaints. If you're struggling with Mission Lane debt, settlement may be a better option than continuing to pay high fees.
Settle Your DebtMission Lane promises a fair chance at recovering from poor credit scores. Do their offers produce positive results? Some consumers say their credit situation didn’t improve. Others saw significant changes.
Mission Lane credit cards target people with bad to fair credit. You’ll likely qualify with a relatively low credit score. The company doesn’t clearly state minimum requirements.
Struggling With Mission Lane Debt?
Stop paying high fees and interest rates on your Mission Lane credit card. Settle your debt for less than you owe and get back on track financially.
Negotiate Your SettlementConsumers prefer Mission Lane because it offers unsecured credit cards. You won’t need a large security deposit upfront. However, the company checks your income and credit history. These factors determine your credit limit.
These features make Mission Lane credit cards popular with many consumers. Not all have had positive experiences. We’ll explain what Mission Lane credit cards are and how they work. We’ll also examine customer reviews and explain settlement options.
What is a Mission Lane Credit Card?
Mission Lane Credit Card is an unsecured card issued by Transportation Alliance Bank, Inc. The card helps consumers rebuild credit without an upfront security deposit. The company started in 2018 and incorporated the same year.
Mission Lane, LLC earned BBB accreditation on June 30, 2022. The company has an A+ BBB rating. However, customer reviews tell a different story with 1.32 out of 5 stars.
You can contact Mission Lane at these details:
- Headquarters: Richmond, VA 23230-4438
- Phone: (855) 790-8860
- Website: missionlane.com
How Does Mission Lane’s Credit Card Work?
Visit the Mission Lane website to start your prequalification. You’ll provide personal information like name, social security number, and income. The company performs a soft credit check with this information.
After prequalification, you complete the application process online. Mission Lane will likely perform a hard credit check. Hard inquiries can negatively impact your credit score temporarily.
Approved applications require an electronic signature on the cardholder agreement. The document outlines terms and conditions, including interest rates and fees. You’ll receive your card within seven to ten working days. Activate it immediately upon arrival.
Mission Lane is a financial technology company. The company connects consumers to lenders but doesn’t offer loans directly. They facilitate the lending relationship as a middleman.
Mission Lane Credit Card Customer Reviews
Mission Lane credit cards give consumers with poor credit hope. Hundreds of consumers report negative experiences. Their credit scores remained the same or worsened in many cases.
Mission Lane has poor customer reviews across multiple platforms:
| Platform | Rating |
|---|---|
| BBB | 1.32/5 |
| TrustPilot | 1.5/5 |
| WalletHub | 2.8/5 |
Common complaints include high interest rates and charges. Many customers report credit limit increase denials despite consistent payments. Poor customer service appears frequently in reviews. The company allegedly doesn’t keep promises.
Here’s a real customer complaint from Mission Lane’s BBB profile:
“I’ve had this card for about two years and always paid on time. They raised my limit, and the interest rate was very high. My payment doubled, so I asked for help reducing the rate. They said No. Just that simply said NO. I will no longer use the card. I’ll pay it off and never use this company again. Never in my 55 years have I had a card company unwilling to help.”
Mission Lane Credit Card Key Features
Starting Credit Limit
The Mission Lane Visa credit card starts at $300. Your limit depends on income and credit history.
Annual Fee and APR
Annual fees range from $0 to $59. Other fees include:
- Cash advance transaction fee: $10 or 3% (whichever is greater)
- Foreign transaction fee: 3%
- Late payment fee: $35
The APR ranges from 19.99% to 33.99%. Your exact rate equals the Prime Rate plus 11.49% to 25.49%. The Prime Rate changes quarterly based on Wall Street Journal publications. Rate changes occur every March, June, September, and December.
Prime Rate increases may raise your interest and minimum payments. Watch for these quarterly adjustments carefully.
Rewards Program
Mission Lane offers a Cash Back Program. You earn cash back on eligible purchases each month. Your cash back percentage varies: 1%, 1.5%, or 2% of net qualifying purchases.
Cash back applies automatically as a credit on your next statement. Your account must remain in good standing. You must meet certain eligibility requirements to earn rewards.
How to Make Payments
Pay your Mission Lane credit card through the online payment portal. Follow these steps:
- Enter your email and password at the Mission Lane dashboard
- Click “Log In”
- Select “Make a Payment” from your account dashboard
- Choose your payment amount
- Select the payment date
- Choose your payment source
- Click “Review Payment”
- Verify all payment details
- Click “Submit Payment”
How to Settle Your Mission Lane Credit Card Debt
Had a negative experience with Mission Lane? You should clear your outstanding debt and consider closing the account. Our partner Solo can help you respond to debt collectors and negotiate settlements.
Use Bankruptcy as Leverage
Mentioning bankruptcy possibility can be a strong negotiating point. Creditors prefer settling for some amount rather than risking nothing. Only use this strategy if bankruptcy is a genuine consideration.
Make a Realistic Offer
Negotiations have limits. Unrealistically low offers won’t be taken seriously. You risk ending negotiations entirely with insulting offers.
Strike a balance in your approach. Don’t offer too much too soon. You need room for negotiation. Don’t offer so little that creditors lose interest.
Prepare for Counteroffers
Initial offers favor the party making them. Creditors ask for more money than they expect to receive. Debtors offer less than they’re prepared to pay.
Expect a series of counteroffers. Debt settlement typically involves several rounds of negotiation. Patience helps you reach better agreements.
Our partner Solo helps you send and receive settlement offers. You negotiate until reaching an agreement with the creditor. The tool eases pressure and increases settlement chances.
Alternatives to Mission Lane Credit Cards
Consider other options if Mission Lane doesn’t meet your needs. Several credit cards target consumers rebuilding credit. Compare fees, interest rates, and customer reviews carefully.
Secured credit cards require deposits but often have better terms. Traditional banks may offer better customer service. Credit unions typically provide more favorable rates for members.
Building credit takes time regardless of card choice. Make payments on time every month. Keep balances low relative to credit limits. Monitor your credit reports regularly for errors.