What's good
- Invest your tax refund to improve your credit by making the refundable deposit for your new secured card today
- No Credit History or Minimum Credit Score Required for Approval
- 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
- Apply in just a few moments with no negative impact to your credit score; no credit inquiry will be recorded in your credit bureau file
What's bad
- Nationwide Program though not yet available in NY, IA, AR, or WI *See Card Terms
- Annual fee
- No rewards
- No signup bonus
- No Balance Transfers
Am I eligible?
To get this card, you must also:
Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.
What the Critics Are Saying...
- Kevin Payne, FinanceBuzzThe First Progress Platinum Prestige Mastercard Secured is for people who want to build their credit. There is no way to upgrade to an unsecured credit card with First Progress, so apply for the Platinum Prestige card only if you are only looking to establish credit and nothing else. This Mastercard...
- Compare CardsThe 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 y...
- Jennifer Lobb, LendEDUThe First Progress Platinum Prestige Mastercard offers consumers with poor or nonexistent credit the opportunity to open and use a credit card. As a secured card, however, this card may not be the best option, particularly when the $49 annual fee is factored in.
- Megan Horner, FinderIf you typically carry a balance, this card could be a strong choice, as it has the lowest APR on purchases compared to its First Progress siblings. But if you always pay your balance on time, the First Progress Platinum Prestige MasterCard® Secured Credit Card and its lower annual fee could suit yo...
Details
| Interest Rates | |
|---|---|
| Regular APR Interest Rate | 9.99% (Variable) |
| Balance Transfer Interest Rate | |
| Cash Advance Interest Rate | 18.99% (Variable) |
| Rates & Fees | |
| Annual Fee | $49.00 |
| Balance Transfer Fee | |
| Cash Advance Fee |
3% Minimum of $10 |
| Foreign Transaction Fee |
3% Of each transaction in U.S. dollars. |
| Over Limit Fee | $0.00 |
| Late Payment Fee |
$40.00 Maximum |
| Promotions | |
| Sign up bonus | No |
| Rewards | |
| All Purchases | No |
| Restaurants | No |
| Gas | No |
| Groceries | No |
| Hotels | No |
| Travel | No |
| Pharmacy | No |
| Bills | No |
| Features & Benefits | |
| Additional Card Holders | No |
| Travel Accident Insurance | No |
| Car Rental Insurance | Yes |
| Car Rental Discount | No |
| Extended Warranty | Yes |
| Purchase Protection | Yes |
| Zero Liability | Yes |
| No Foreign Transaction Fees | No |
| Emergency Assistance | No |
| Concierge Service | No |
| Price Protection | No |
| Fraud Protection | Yes |
| Free Credit Scores | No |
| Wireless Payments | No |
| Virtual Cards | No |
| Additional Benefits |
24/7 roadside and travel assistance |
| Eligibility | |
| Minimum Security Deposit | $200 |
| Minimum Age | 18 |
| Minimum Personal Income | |
| Temporary Residents | No |
| More | |
| Additional comments |
Not yet available in NY, IA, AR, or WI |
| Terms & Conditions | Official Terms & Conditions |
| Suggest a correction |
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Information in this article is believed to be accurate at the time it was written, but terms and conditions may change at any time. All information is presented without warranty or guarantee. Please verify all terms and conditions of any credit card prior to applying.
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