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The First Progress Platinum Elite Mastercard® Secured Credit Card
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Regular Purchase APR
24.24% (V)
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Intro Purchase APR
No intro APR
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Intro BT APR
N/A
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Typical Credit Needed
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Annual Fee
$29
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Card Brand
Mastercard®
Highlights
- Click "APPLY NOW" to apply online
- 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.
- Make 6-months of on-time payments & you’ll be invited to apply for an unsecured First Digital Mastercard!
- See additional The First Progress Platinum Elite Mastercard® Secured Credit Card details
Card Fees
Foreign Transaction Fee
3%
Balance Transfer Fee
N/A
Cash Advance Fee
3% of each cash advance; $10 minimum
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
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Concierge Service
No
Expert Reviews
From the LendingTree.com Editorial Team
The First Progress Platinum Elite Mastercard® Secured Credit Cardis 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.
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. This card also charges for foreign currency transaction fees.
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.
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Rewards Rate
2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically
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APRs
10.99% Intro APR for 6 months on balance transfers then 27.24% Variable APR
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Rates and Fees
No annual fee, no late fee on your first late payment. No penalty APR*
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Typical Credit Needed
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Annual Fee
$0
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Card Brand
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Highlights
- No credit score required to apply.
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- Establish your credit line by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.
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See additional details for Discover it® Secured Credit Card
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Reports to Credit Bureaus
Build Credit When Used Responsibly
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Minimum Deposit
$49, $99, or $200
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Regular Purchase APR
29.74% (Variable)
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Typical Credit Needed
-
Annual Fee
$0
-
Card Brand
Mastercard®
Highlights
- Click "APPLY NOW" to apply online
- No annual or hidden fees. See if you're approved in seconds
- Building your credit? Using the Capital One Platinum Secured card responsibly could help
- Put down a refundable security deposit starting at $49 to get a $200 initial credit line
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- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
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See additional details for Capital One Platinum Secured Credit Card
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Rewards Rate
1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
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Credit Line
Put down a refundable $200 security deposit to get a $200 initial credit line.
-
Regular Purchase APR
29.74% (Variable)
-
Typical Credit Needed
-
Annual Fee
$0
-
Card Brand
Mastercard®
Highlights
- Click "APPLY NOW" to apply online
- No annual or hidden fees, and you can earn unlimited 1.5% cash back on every purchase, every day. See if you're approved in seconds
- Put down a refundable $200 security deposit to get a $200 initial credit line
- Building your credit? Using a card like this responsibly could help
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- You could earn back your security deposit as a statement credit when you use your card responsibly, like making payments on time
- Be automatically considered for a higher credit line in as little as 6 months with no additional deposit needed
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
See additional details for Capital One Quicksilver Secured Cash Rewards Credit Card
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