Credit Cards
First Latitude Platinum Mastercard® Secured Credit Card review
If you’re looking for a secured card to help you reestablish your score, the First Latitude Platinum Mastercard® Secured Credit Card can help you along the way. Check out our full review to learn more!
Advertisement
First Latitude Platinum Mastercard® Secured Credit Card: Open the door to better credit with a deposit of as little as $100!
The First Latitude Platinum Mastercard® Secured Credit Card is here to help you improve your credit score, and this review will show you it’s features.
If you’ve had credit problems in the past, you know how hard it is to find a good credit card that will approve your request. Most come with exorbitant fees and very few perks, but not this one.
Apply for the First Latitude Platinum Secured card
Learn how to apply for a First Latitude Platinum Mastercard® Secured Card and start working on a healthier financial life today!
The card charges a modest annual fee of $25 during the first year of card membership, then $35 every year after that.
While there are no rewards on purchases, it helps you repair your credit score with immediate account activity reports to credit bureaus as soon as you open the account.
- Credit Score: There is no credit history or minimum credit score required.
- APR: 22.24% for purchases and 27.24% for cash advances.
- Annual Fee: $25 the first year, and $35 each year thereafter.
- Fees: $19.95 one-time activation fee, $10 cash advance fee, 3% foreign transaction fee, and $41 max late payment fee.
- Welcome bonus: There’s no current offer.
- Rewards: There are no rewards programs with this card.
Since this is a Platinum Mastercard product, it has worldwide acceptance for online and in-store purchases.
However, beware of the 3% foreign transaction fee before you take this card on your travels or purchase anything internationally.
To learn more about the First Latitude Platinum Mastercard® Secured Credit Card and how it can help you achieve better credit, read our full review below.
First Latitude Platinum Mastercard® Secured Credit Card: how does it work?
Issued by Synovus Bank, member FDIC, the First Latitude is in the secured category. That means you have to put down a security deposit in order to use the card.
With the First Latitude, you can start as little as $100 and go up to $2,000.
The security deposit is refundable and will work as your spending limit. Synovus Bank will automatically refund the amount you have deposited once you close your account in good standing.
You’ll also have to pay a one-time $19.95 activation fee when you open your account and link an existing bank account to your card.
The annual fee starts at $25 during the first year and increases to $35 every year after that. The APR on purchases is 22.24%, but carrying a balance on a secured card is ill-advised, regardless.
The card has worldwide acceptance and reports all monthly payments to credit bureaus. Responsible use and low credit utilization will help you increase your credit score.
With 6 ongoing on-time payments, you can also apply for a second credit card.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Significant benefits and disadvantages you may find
Before committing to a credit card, it’s important to analyze the highlights and lowlights to make sure you’re making the right decision.
Check the pros and cons of the First Latitude Platinum Mastercard® Secured Credit Card below.
Benefits
- Everyone can apply, regardless of their current score;
- Synovus Bank reports all account activities to the main credit bureaus;
- Modest annual fee;
- Worldwide acceptance;
- Relatively low security deposit.
Disadvantages
- There’s no current welcome bonus or rewards offer;
- You still have to pay an annual fee;
- The card charges an activation fee;
- High APR on purchases and cash advances.
Is a good credit score required for applicants?
Secured cards are generally a safe alternative for issuers and people who need to improve their scores.
Since there’s a security deposit that acts as collateral, there’s no minimum score required for the First Latitude Platinum Mastercard® Secured Credit Card.
Everyone can apply, regardless of their credit history.
Learn how to apply and get a First Latitude Platinum Mastercard® Secured Credit Card
So if you have had trouble applying to other cards and are fine with trading a security deposit for purchasing power, the First Latitude Platinum Mastercard® Secured Credit Card can be a solid option for you.
Follow the link below to learn more details about the application process.
Apply for the First Latitude Platinum Secured card
Learn how to apply for a First Latitude Platinum Mastercard® Secured Card and start working on a healthier financial life today!
About the author / Aline Barbosa
Trending Topics
Deserve® EDU Mastercard for Students review
Get 1% cashback on all of your purchases and pay no annual fee. Read this Deserve® EDU Mastercard for Students review to see how.
Keep ReadingDisney Plus grows while Netflix suffers from churn rates
Disney Plus is spending a lot on original content, and it seems to be paying off. The company had the best report during Q1 of 2022.
Keep ReadingMastercard® Titanium Card™ application
Learn how easy and secure the Mastercard® Titanium Card™ application process is and take a step towards luxury with a few simple clicks.
Keep ReadingYou may also like
American Express Serve® FREE Reloads Card application
Learn all the details about the American Express Serve® FREE Reloads Card application process and how you can request yours.
Keep ReadingHow to get your Chase Ink Business Preferred Credit Card: online application
In this Chase Ink Business Preferred Credit Card application guide, we are going to show you how to get this card quickly.
Keep ReadingWise Debit Card review
Are you looking for a debit card that doesn't charge foreign transaction fees? Read our Wise Debit Card review to see if it's the right fit.
Keep Reading