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First Progress Platinum Select MasterCard® Secured Credit Card: Relatively low APR, high annual fee

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This simple secured card doesn't require a credit history or minimum credit score.

  • Get this card if you have a poor credit score, or no credit history.
  • Pick something else if you want to earn rewards or need a card with no annual fees.
  • Apply with poor credit score or with no credit history.


Annual fee


Purchase APR (variable)


Recommended credit score


Product NameFirst Progress Platinum Select MasterCard® Secured Credit Card
Card typeMastercard
Annual fee$39
Purchase APR13.99% variable
Balance transfer APRN/A
Cash advance rate19.99% variable
Cash advance fee$10 or 3% of the cash advance amount, whichever is greater
Foreign transaction fee3% of the transaction value
Interest free periodUp to 25 days
Late payment feeUp to $40
Returned payment feeUp to $29
Additional cardholder fee$0

Expert review

Kliment Dukovski

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.

Expert review

The First Progress Platinum Select MasterCard® Secured Credit Card is one of three similar cards that differ mostly in the annual fee and the APR. This card comes with an annual fee of $39 and an APR on purchases of a 13.99% variable.

While you’ll have to pay an annual fee for the card, you don’t need a minimum score — or a credit history — to apply. This makes the card a possibility if you have damaged credit. Keep in mind approval isn’t guaranteed.

As this is a secured card, you need to deposit anywhere between $200 and $5,000 to act as your credit line. With responsible use, you can increase your credit limit line up to $5,000. Responsible use will also help you build credit as the card reports your activity to all three major credit bureaus — Equifax, Experian and TransUnion.

Because of that, the First Progress Platinum Select MasterCard® Secured Credit Card can be a decent credit-building option.

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Card benefits

  • Build or repair your credit.

    You can apply with no credit history and with no minimum credit score. As soon as you get your card and start spending responsibly, First Progress reports your activity to the three major credit agencies. By paying on time every month, you can potentially improve your credit score and open up unsecured options down the road.

  • Choose your line of credit.

    Your initial deposit can be from $200 to $2,000. Over time, you could increase your deposit up to $5,000, its maximum credit limit.

  • Global access.

    Because it’s a Mastercard, it’s accepted worldwide.

  • Relatively low APR on purchases.

    The card has a variable APR of 13.99%, which is relatively low when compared to the APRs of up to 26% that other unsecured credit cards have.

What to watch out for

  • Annual fee.

    You’ll pay $39 to own the card. If you occasionally carry your balance, the low APR on purchases could help you offset the annual fee and save money.

  • Foreign transaction fees.

    You’ll pay a 3% fee for each transaction made outside of the US. This may not seem like much, but $1,000 spent abroad will cost you $30 in fees. That’s almost the cost of the annual fee.

  • Penalties and fees.

    A late payment will set you back up to $40, and you’ll pay up to $29 for each returned payment. Cash advances and foreign transactions also come with fees.

  • Limited customer service.

    Unfortunately, you won’t be able to contact First Progress customer support via phone. If you have any questions, you’ll have to reach support by mail or, if you’re already a member, you can reach them online.

Compare First Progress credit cards

First Progress cardAnnual feeAPR
First Progress Platinum Elite MasterCard® Secured Credit Card$2919.99% APR variable
First Progress Platinum Prestige Mastercard® Secured Credit Card$499.99% APR variable
First Progress Platinum Select MasterCard® Secured Credit Card$3913.99% APR variable

Compare secured cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
OpenSky® Secured Visa® Credit Card
Starting at $200
17.39% variable
Apply for this card with no credit check if you're new to credit or have bad credit.
Assent Platinum 0% Intro Rate Mastercard® Secured Credit Card
Starting at $200
0% intro for the first 6 months (then 12.99% variable)
A rare secured card with a 0% intro APR on purchases for 6 months, followed by 12.99% variable.
First Progress Platinum Elite MasterCard® Secured Credit Card
Starting at $200
19.99% variable
Build your credit with all three major credit bureaus.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Starting at $200
9.99% fixed
No credit check is required for this secured card. Make a deposit of at least $200 to open this card and get a low 9.99% fixed APR on purchases.
Self Visa® Credit Card
Starting at $100
21.74% variable
Build your credit with a low minimum security deposit of $100 and no credit score required.

Compare up to 4 providers

What should I know before I apply?

Apply for the card if you are:

  • At least 18 years old or 19 in Alabama or Nebraska.
  • A US citizen or legal resident of any state except Arkansas, Iowa, New York or Wisconsin.
  • Able to put down at least $200 for a deposit, which will be your line of credit.

You’ll also need to provide information, such as:

  • Your full name, contact details and Social Security number.
  • Your monthly income and expenditures.

What credit score do I need?

You can apply without any credit history or with a poor credit score. Though there’s no minimum credit score, your approval isn’t guaranteed.

Apply now

What do customers say about the First Progress Platinum Select MasterCard® Secured Credit Card?

Customers who are happy with the card claim they quickly built their credit score once they started using it. Those who weren’t satisfied mostly complained about poor customer support. Some even said that the bank didn’t close their account when they requested it.

The Better Business Bureau has accredited First Progress Card since 2013 and it rates them A+.

How to apply for the First Progress Platinum Select MasterCard® Secured Credit Card

  1. Click Apply now.
  2. Complete the application form.
  3. Confirm that your information is correct. Click Go to payment to complete your application.

How long will it take to get my First Progress Platinum Select MasterCard® Secured Credit Card?

You should receive the status of your application within three weeks. If you don’t hear back within that time, contact customer support.

I got the card. Now what?

  • Avoid interest. You have a 25-day grace period at the end of each billing cycle. To avoid accruing interest on your purchases, try to pay your balance before its due.
  • Customer service. Support is limited to your online portal if you’re already a member or writing First Progress Card at PO Box 9053, Johnson City, TN 37615-9053.

Bottom line

If you have no credit history and you want to build your credit score, the First Progress Platinum Select MasterCard® Secured Credit Card can help you out. The card has a relatively low annual fee and low APR on purchases, which can come in handy if you occasionally carry your balance. In addition, with responsible spending, First Progress may approve an increase of your deposit, which in turn will increase your credit line.

But if you’re still wondering whether this is the right card for you, consider other secured cards to find the perfect card to help you build your credit.

Frequently asked questions

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  1. Default Gravatar
    September 29, 2017

    what if you choose the option to fund your deposit later but never did so they closed your account.Could you apply for another card or reopen the account?

    • Avatarfinder Customer Care
      September 29, 2017

      Hi DD,

      Thanks for contacting finder, a comparison website and general information service.

      In applying for the First Progress Platinum card, one of the requirements is to provide an initial deposit from $200 to $2,000. Thus, your application for the said card will not proceed if there will be no initial deposit.

      The security deposit will not be given to you unless you close the account. In addition, for a complete refund, you should have no outstanding balances on your credit card account. If you do have an outstanding balance, you’ll get a check for what’s left after First Progress has settled your account.

      I hope this helps.


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