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$29
Annual fee
19.99%
Purchase APR (variable)
300
Recommended credit score
Review by
Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.
The First Progress Platinum Elite MasterCard® Secured Credit Card is one of three similar cards that vary only in the annual fee and the APR. This one comes with the lowest annual fee of $29, but with the highest APR on purchases of 19.99% variable.
That is by no means a low APR, but it’s lower than you’ll find with many other secured credit cards. Still, you shouldn’t get this card for its interest rate. Instead, consider it because its issuer doesn’t require a credit history or minimum credit score to apply. Note that this doesn’t mean you’re guaranteed approval — but it can be helpful if you have damaged or nonexistent credit.
As the name suggests, this is a secured card where you can deposit between $200 and $2,000 to act as your credit line. And since the card reports to all three major credit bureaus — Equifax, Experian and TransUnion — you can build your credit with responsible card use.
All this makes the First Progress Platinum Elite MasterCard® Secured Credit Card a solid choice for you, especially if you’ve had trouble getting a credit card in the past. You can apply with any credit score or with no credit history at all.
It takes up to three weeks to get a status on your application. If you haven’t heard back by then, reach out to First Progress. Your card and any welcome materials will be sent along with the decision upon approval.
First Progress card | Annual fee | APR |
---|---|---|
First Progress Platinum Elite MasterCard® Secured Credit Card | $29 | 19.99% variable |
First Progress Platinum Prestige Mastercard® Secured Credit Card | $49 | 9.99% variable |
First Progress Platinum Select MasterCard® Secured Credit Card | $39 | 13.99% variable |
You can apply for the card if:
In the application form, you’ll need to provide the following information:
Like many other secured cards, you don’t need a credit history to apply. If you have a credit score of at least 300 and the income to support owning the card, you should have no problem getting approved.
Satisfied customers claim that their credit score improved within a few months of responsible payment activity. Those who weren’t happy with the card complained of poor customer service and hidden costs. To avoid this, make sure you read the fine print in your card’s agreement.
First Progress Card earns an A+ rating from the Better Business Bureau where it’s been accredited since 2013. As of October 2020, First Progress Card has more than 260 complaints, more than half of which have been resolved.
If you don’t have a credit history or have a bad credit score, First Progress Platinum Elite MasterCard® Secured Credit Card can help you establish or rebuild your credit. It comes with the lowest annual fee of the other two First progress cards, but it also has the highest APR on purchases.
Not sure if this is the card you’re looking for? Compare other secured cards to find the right fit.