First Progress offers three secured credits cards that can helpbuild or rebuild their credit score through a positive credit history. They offer:
- First Progress Platinum Elite Mastercard® Secured
- First Progress Platinum Select Mastercard® Secured
- the First Progress Platinum Prestige Mastercard® Secured Credit Card
All three cards regularly reports to all three credit bureaus, so with responsible credit usage and on-time payments these cards could either make or break your credit, so responsible usage is emphasized.
Also note that if you’re qualified for one card, you’ll also qualify for the other two. Continue reading below to see whether First Progress Mastercard Secured Credit Cards are the right cards for you.
First Progress Mastercard Secured Credit Cards Summary
Platinum Select |
Platinum Prestige |
Platinum Elite |
|
Bonus Available | No sign-up bonus available for this card | No sign-up bonus available for this card | No sign-up bonus available for this card |
Balance Transfers Intro APR | N/A | N/A | N/A |
Purchases Intro APR | N/A | N/A | N/A |
Regular APR | 13.99% (V) | 9.99% (V) | 19.99% (V) |
Cash Advance APR | 19.99% (V) | 18.99% (V) | 24.99% (V) |
Credit Needed | Poor/Limited/No Credit | Poor/Limited/No Credit | Poor/Limited/No Credit |
Monthly Servicing Fee | N/A | N/A | N/A |
Processing Fee | N/A | N/A | N/A |
Annual Fee | $39 | $49 | $29 |
Recommended Free Credit Score (Get Free Score)
PROS
- No minimum credit score
- Considers applicants with fair or poor credit
- Reports to all three credit bureaus
CONS
- Does not offer a signup bonus
- No rewards or cash back
- High fees – annual, interest rate
- Does not include many credit card rewards
Card Highlights
- Receive Your Card More Quickly with New Expedited Processing Option
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application; No credit inquiry required!
- Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
- Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users!
- Good for Car Rental, Hotels; Anywhere Credit Cards Are Accepted!
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Credit Line Secured by Your Fully-Refundable Deposit of $200 — $2,000 Submitted with Application
- Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
- 24/7 Online Access to Your Account
- Nationwide program; available in all 50 US states *See Card Terms.
- Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined.
- ¡Hablamos Español! Nuestros representantes de servicio al cliente hablan Español con fluidez para su conveniencia.
First Progress Mastercard Secured Cards Fees
First Progress’ secured cards doesn’t have a minimum credit score or credit history needed in order to get these cards. However, the fees for each card is different depending on the purpose you are using it for, see table above for full list.
Keep in mind that for each card, an initial refundable security deposit must be made, which can be between $200 and $2,000.
So make sure that you pay off those small purchases on time and in full each month, and your credit score should start to rise. Make sure that you pay your balance in full each month, which will also help to improve your credit score.
First Progress Mastercard Secured Cards’ Features
- No negative impact to your credit score; no credit inquiry will be recorded in your credit bureau file
- No credit history or minimum credit score required for approval**
- Receive your card faster with optional Expedited Processing
- Monthly reporting to all 3 major credit bureaus to establish credit history
- Full-featured Platinum Mastercard, accepted for car rentals, hotels, and millions of other locations worldwide.
- Credit Line Secured by Your Fully-Refundable Deposit of $200 – $2,000 Submitted with Application
Who Should Apply For These Cards?
These are are good for those who are looking for a lower interest rate, but don’t mind paying a higher interest rate. Bu if you can, you can also avoid interest by paying off your balance in full each month, you won’t need to worry about the APR and can just go with the cheapest card.
However, if you’re someone who wants better secured cards with rewards and more benefits then you should consider looking for something else.
Conclusion
First Progress Mastercard Secured Credit Cards are full featured credit cards that reports to all three major credit bureaus every month to help you establish or re-establish your credit history. Don’t forget to check out BankCheckingSavings’ complete list of Credit Card Promotions today!
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.