First Progress Platinum Elite Mastercard® Secured Credit Card
First Progress Platinum Elite Mastercard® Secured Credit Card Review
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.
First Progress Platinum Elite Mastercard® Secured Credit Card
on First Progress's secure site
First Progress Platinum Elite Mastercard® Secured Credit Card
SIGN-UP BONUS
N/A
REWARDS RATE
Non-rewards card
Improve Your Credit Score
Free Credit Bureau Reporting
Credit Line
$200 - $2,000 Credit Line*
Regular Purchase APR
25.24% (Variable)
Annual Fee
$29
Card Brand
Mastercard®
Recommended Credit Score
Limited/PoorHighlights
- 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.
Additional Info
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Expert Review
From the LendingTree 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.
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.
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.
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.