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First Progress Platinum Elite Mastercard® Secured credit card review

Here is an excellent tool for anyone looking to build or rebuild their credit. Discover the First Progress Platinum Elite Mastercard® Secured credit card and its main advantages.

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Excellent limit and an annual fee below the market average

First Progress Platinum Elite Mastercard® Secured Credit Card
Learn all about the First Progress Platinum Elite Mastercard® Secured credit card. Source: First Progress

A little boat sailing in the calm waters of the sea. In fact, this image represents the peace of mind of owning a First Progress Platinum Elite Mastercard® Secured credit card.

First Progress

First Progress Platinum Elite Mastercard® Secured card: check out how to apply!

Learn how to apply for the First Progress Platinum Elite Mastercard® Secured card, a great tool for building credit up to $2,000.

With this card, you build credit without generating new debt. Learn more about this credit product in this article:

Credit ScoreAny score
Annual Fee$29
APR25.24% (V) for Purchases; 30.24% (V) for Cash Advances
Welcome bonusNone
RewardsNone

First Progress Platinum Elite Mastercard® Secured credit card: learn more about this financial product

At some point in life, everyone has needed to build credit. If that’s your goal, using the First Progress Platinum Elite can be a great option. In fact, this is a secured card.

This means that you will be limited to the amount of money you deposit in advance. This model accepts deposits from $200 up to $2,000. That way, you will have a good limit when building your credit.

In addition, this card issues reports to the three largest credit bureaus in the country. That way, your score will grow with each payment made on time.

When applying for this card, you will not go through inquiries or credit history.

So, if you still don’t have a good score, it won’t be a problem. Even a bankruptcy settled on your record would not get you rejected. To activate your card, simply make a minimum deposit of $200.

First Progress Platinum Elite Mastercard® Secured card features

woman pulling out a mastercard from a purse
Learn more about the card’s pros and cons. Source: Pixabay

Before applying for this card, check the lists below. In these, you will learn about the main advantages and disadvantages of this credit product:

What are the benefits? 

  • 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.
  • Pay 6-months-on-time and apply to get a second credit card!
  • Secured Cards are a great way to start establishing credit for people with low/no credit scores¹.
  • Get a fresh start! A discharged bankruptcy in your credit file will not cause you to be declined.
  • Past credit issues shouldn’t prevent you from getting a credit card with great benefits & rewards!
  • See your VantageScore®+. Easy, Free Access to Credit.
  • Education in the First Progress Card Mobile App!
  • Receive your card more quickly with the new expedited processing option.
  • User-friendly Mobile App.
  • Accepted throughout the U.S. and online.
  • Accepted wherever Mastercard® is accepted.

And what are the drawbacks?

  • This card offers a relatively high APR;
  • If you apply for cash advance, you will have to pay high fees of $10 or 3% per withdrawal (whichever is greater);
  • Pay an annual fee of $29 and 3% on foreign transfers;
  • Via telephone, you can request agility in your payments. However, you must pay a $10 fee for each expedited payment.

What score do you need to get the First Progress Platinum Elite Mastercard® Secured credit card?

During the application process, there will be no consultation of your score. So even with a bad credit score, you can still have this card.

How does the First Progress Platinum Elite Mastercard® Secured credit card application process work?

You can apply for this card without leaving your home! To do so, check out our post below and read the full review on how to apply for this card!

First Progress

First Progress Platinum Elite Mastercard® Secured card: check out how to apply!

Learn how to apply for the First Progress Platinum Elite Mastercard® Secured card, a great tool for building credit up to $2,000.

About the author  /  José Gonçalo

I started reading about finance only to find better options than savings. Since then, I have never stopped studying finance, and I believe that writing about it is the best way to help individuals feel fulfilled and have a healthy financial life. Today, I balance finance and medical school studies.

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