First Progress Platinum Prestige Mastercard® Secured Credit Card

First Progress Platinum Prestige Mastercard® Secured Credit Card

Apply Now

on First Progress's secure site

First Progress Platinum Prestige Mastercard® Secured Credit Card

Apply Now

on First Progress's secure site

First Progress Platinum Prestige Mastercard® Secured Credit Card Review

The First Progress Platinum Prestige Mastercard can help those who do not have sufficient credit to get a standard credit card. Though the card does require you to put in a security deposit (acting as the "limit" on the card), the payments you make toward it are reported to the credit bureau. Once you keep up with those payments for six months to a year, you should be able to qualify for an unsecured credit card.

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Rated 4/5.0 stars by our editorial team

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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.

First Progress Platinum Prestige Mastercard® Secured Credit Card

  Apply Now
First Progress Platinum Prestige Mastercard<sup>®</sup> Secured Credit Card
Apply Now

on First Progress's secure site

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First Progress Platinum Prestige Mastercard® Secured Credit Card

SIGN-UP BONUS

No bonus

REWARDS RATE

1% Cash Back

Improve Your Credit Score

Free Credit Bureau Reporting

Credit Line

$200 - $2,000 Credit Line*

Regular Purchase APR

15.24% (V)

Annual Fee

$49

Card Brand

Mastercard®

Recommended Credit Score

Limited/Poor

Highlights

  • 1% Cash Back Rewards on payments
  • 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

Foreign Transaction Fee

N/A

Balance Transfer Fee

N/A

$0 Fraud Liability

Yes

Auto Rental Insurance

Yes

Extended Warranty Program

Yes

Roadside Assistance

No

Purchase Protection

Yes

Travel Assistance

No

Flight Accident Insurance

No

Lost Luggage Reimbursement

No

Concierge Service

No

See your approval odds before you apply
There's no impact to your credit

Expert Review

Editor's Overall Rating

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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.

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From the LendingTree editorial team, updated on Mar 25, 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 $200 to $2,000 and use that 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 15.24% (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. 

The Good

  • The main benefit of this credit card is that it gives you a chance to build your credit just by spending your own money. Rather than paying cash for the things you need, you can pay with your card and then pay back the balance. You may lose the security deposit on the card temporarily, but you will get it back after you cancel the card. By then, you should have a decent amount of credit built up.

The Not So Good

  • You have to pay an annual fee of $49 for this card, on top of putting $200 to $2,000 of your own money on it to act as your available balance.

The Bottom Line

The First Progress Platinum Prestige Mastercard can help those who do not have sufficient credit to get a standard credit card. Though the card does require you to put in a security deposit (acting as the "limit" on the card), the payments you make toward it are reported to the credit bureau. Once you keep up with those payments for six months to a year, you should be able to qualify for an unsecured credit card.


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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