Expert Review

Editor's Overall Rating

Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. The ratings are the expert opinion of our editors, and not influenced by any remuneration this site receives from card issuers.

4

         

From the LendingTree editorial team, updated on Oct 01, 2024

The First Progress Platinum Prestige Mastercard Secured Credit Card is designed to give people with poor or limited credit a chance to boost their scores while they shop. Rather than loading $50 and then spending $50 like you would do on a prepaid card, this secured credit card allows you to load money onto the card to use as your continuous credit card limit. You can't access that money until you cancel the card, so you have to always pay back whatever you spend on the card.

If you do not pay your card balance on time, you'll face 14.74% (V) APR, but that's actually pretty low for a secured card. You will also have to pay a $49 annual fee to keep the card in your name. Any payments you make toward the card will be reported to all three major credit bureaus which will help build your credit score over time. If you want to boost your credit score to potentially get an unsecured card in the future, this could be a great option for you.

Out of all the First Progress Platinum Secured cards offered, this one has the lowest APR with the highest annual fee. 

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.