First Progress Platinum Elite Mastercard® Secured Credit Card | CompareCards.com

First Progress Platinum Elite Mastercard® Secured Credit Card

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First Progress Platinum Elite Mastercard® Secured Credit Card

 

Rated 2/5.0 stars by our editorial team

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  • Regular Purchase APR 25.24% (Variable)
  • Intro Purchase APR No intro APR
  • Intro BT APR N/A
  • Annual Fee $29
  • Credit Needed Limited/Poor
  • Card Brand Mastercard®
  • Regular Purchase APR 25.24% (Variable)
  • Intro Purchase APR No intro APR
  • Intro BT APR N/A
  • Annual Fee $29
  • Credit Needed Limited/Poor
  • Card Brand Mastercard®

Highlights

  • Choose your own credit line - $200 to $2000 – based on your security deposit
  • Build your credit score.¹ Reports to all 3 credit bureaus
  • No minimum credit score required for approval!
  • ¹ Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.

Card Fees

Foreign Transaction Fee

N/A

Balance Transfer Fee

N/A

Penalty APR

N/A

Ongoing Information

Rewards Rate

Non-rewards card

Annual Fee

$29

Additional Card Details

$0 Fraud Liability

No

Auto Rental Insurance

No

Extended Warranty Program

No

Roadside Assistance

No

Purchase Protection

No

Travel Assistance

No

Flight Accident Insurance

No

Lost Luggage Reimbursement

No

Concierge Service

No

Expert Reviews

From the CompareCards.com Editorial Team, updated on Apr 08, 2024

The First Progress Platinum Elite Mastercard® Secured Credit Card is designed to help those with little to no credit begin to build their credit score. It acts similar to a prepaid card except that you place a deposit on the card that acts as your credit line and there’s automatic reporting to the major credit bureaus so your good account management habits will be noticed.

Some perks that come with this card include an average annual fee of $29 and the ability to have a credit line as high as $2,000. There are fees associated with this card like late payment and returned payment fees. Payments made on the account will not increase your available credit immediately, often taking up to ten business days.

Out of all the First Progress secured cards offered, this one has the highest APR rate, but has the lowest annual fee.

Expert Reviews of the First Progress Platinum Elite Mastercard® Secured Credit Card

  • 2.0

    Regular APR

  • 1.0

    Intro APR

  • 2.0

    Fees

  • 2.0

    Benefits

  • 2.0/5

    Overall Rating

The Bottom Line

The First Progress Platinum Elite Mastercard® Secured Credit Card is an average secured card that can be used anywhere Mastercard is accepted and reports to the credit bureaus. It doesn’t offer much for rewards, or additional perks and features.

The Good

Card holders will enjoy a 25 day grace period before having to pay interest on purchases.

The Not so Good

If you spend frequently, it may take up to ten business days for a payment to post to your account, which is limiting in your available credit.

Editorial Note: This content is not provided by First Progress. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by First Progress.

Consumer Reviews

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Rated 2/5.0 stars by our editorial team

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