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.
Table of Contents
First Progress Mastercard Secured Credit Cards Summary
|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|
- No minimum credit score
- Considers applicants with fair or poor credit
- Reports to all three credit bureaus
- Does not offer a signup bonus
- No rewards or cash back
- High fees – annual, interest rate
- Does not include many credit card rewards
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.
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.