First Progress Platinum Elite Mastercard® Secured Credit Card
Reviews
Trusted & Secure
Empowering over
50,000,000 card holders
Since 2005
- Regular Purchase APR 25.24% (V)
- Intro Purchase APR No intro APR
- Intro BT APR N/A
- Annual Fee $29
- Credit Needed Poor/Limited
- Card Brand Mastercard®
- Regular Purchase APR 25.24% (V)
- Intro Purchase APR No intro APR
- Intro BT APR N/A
- Annual Fee $29
- Credit Needed Poor/Limited
- 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
N/A
N/A
N/A
N/A
Ongoing Information
Non-rewards card
$29
Additional Card Details
No
No
No
No
No
No
No
No
No
Expert Reviews
From the CompareCards.com Editorial Team, updated on Aug 04, 2023
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
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
OFFER RATING
/5.0
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