Credit Cards

First Progress Platinum Elite Mastercard® Secured Credit Card review

The first step to building or fixing your credit, the First Progress Platinum Elite Mastercard® Secured Credit Card is a great resource. Read our review to find out how it works!

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First Progress Platinum Elite Mastercard® Secured Credit Card: No credit inquiry required!

First Progress Platinum Elite Mastercard® Secured Credit Card
Read our First Progress Platinum Elite Mastercard® Secured Credit Card review. Source: The Post New.

The First Progress Platinum Elite Mastercard® Secured Credit Card is great for people with bad or no credit history. This card offers a low APR and a modest annual fee, making it a great option for those looking to rebuild their credit.

Since it’s a secured card, you’ll have to put down a security deposit anywhere between $200 and $2,000. That amount will be your spending limit and is fully refundable once you close your account in good standing.

First Progress offers an easy and online application with no credit check and no minimum score required for approval. So if you’re having trouble getting a credit card to give your score a boost, you might want to consider applying for this one.

First Progress Platinum Elite Mastercard® Secured Credit Card

How to get the First Progress Platinum Elite?

Learn how to improve your credit score with the help of a First Progress Platinum Elite Mastercard® Secured Card!

Check its main features below to see if the Elite Mastercard® Secured Credit Card is right for you. Then, keep reading our review to learn more about this product and how it can help you achieve a better financial future. 

  • Sign-up bonus: There is no sign-up bonus for this card.
  • Annual fee: You’ll have to pay $29 annually to use this card.
  • Rewards: There are no rewards.
  • Other perks: Nationwide acceptance; works great as a credit builder.
  • APR: 22.99% variable on purchases and 27.99% variable on cash advances.

First Progress Platinum Elite Mastercard® Secured Credit Card: is it a good card?

This is a secured credit card designed for people with limited or no credit history. The bank doesn’t perform a credit inquiry for approval, so if you have a severely damaged score, this can be your ticket to start improving it.

To activate the card, you’ll need to put down a security deposit between $200 and $2,000 which will become your spending limit. With responsible use, you can increase that credit line up to $5,000 with additional deposits. That amount is fully refundable once you bring your balance to zero and close your account.

First Progress reports all monthly payments to the three main credit bureaus in the country. Therefore, good use and on-time payments will help you achieve a better credit score in no time. The card has nationwide acceptance and you have access to your account 24/7 through the company’s free mobile app. 

First Progress Platinum Elite Mastercard® Secured Credit Card: should you get one?

First Progress Platinum Elite Mastercard® Secured Credit Card
Is this the right card for you? Read on to find out! Source: Adobe Stock.

While the Platinum Elite Mastercard® Secured Credit Card works as a credit builder, there are a few drawbacks you should be aware of before applying for it. See below to learn what they are. 

Benefits

  • Reports all monthly payments to Equifax, Experian and TransUnion;
  • All credit levels have a chance of approval;
  • Charges a modest annual fee.

Disadvantages

  • Doesn’t offer a welcome bonus or rewards of any kind;
  • Charges a moderately high APR;
  • No possibility to upgrade to an unsecured card.

What is the required credit score?

You don’t need a good credit score to apply for this card. Matter of fact, there is no minimum score required by First Progress in order to approve your request. The institution doesn’t even perform a hard inquiry. Therefore, if you have a limited or no credit history at all, you can still get a First Progress Platinum Elite Mastercard® Secured Credit Card. 

First Progress Platinum Elite Mastercard® Secured Credit Card application

The Platinum Elite Mastercard® Secured Credit Card application is easy and online. You’ll get an answer within minutes with no hard inquiries on your score. If you’d like to know more details on how to apply, follow the recommended link below.

First Progress Platinum Elite Mastercard® Secured Credit Card

How to get the First Progress Platinum Elite?

Learn how to improve your credit score with the help of a First Progress Platinum Elite Mastercard® Secured Card!

About the author  /  Aline Barbosa

Aline Barbosa is an editor, writer and learning-enthusiast. Passionate about music, books and human behavior. Curious about the unknown. Believer that learning is a life-long process.

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