First Progress Platinum Elite Mastercard® Secured Card

Made to build credit - low annual fee, monthly credit reporting

Updated: Oct 17, 2021

Advertiser Disclosure

First Progress Platinum Elite Secured Mastercard credit card is made for people who have really poor credit scores. If you have a FICO score of 600 or less, then you might benefit from holding this card. It's also made for people with a limited amount of cash at their disposal. It's also a great option for people with no credit history who would like to start building it properly. This card is issued by First Progress to US residents, and each month, the company sends out reports of all the activity on their cards to three of the largest credit bureaus. Even though it has the lowest annual fee of all the First Progress secured credit cards, it comes with the highest interest. However, if used properly, this won't be an issue.

ANNUAL FEE

$29

ONGOING APR

19.99% Variable

INTRO APR

N/A

246 User Ratings

First Progress Platinum Elite Mastercard® Secured Card

at First Progress Elite's Secured website

Apply Now

Introductory APR

N/A

Intro APR Period

N/A

Minimum Credit Score

Bad Credit OK

Key Features

  • Receive Your Card More Quickly with New Expedited Processing Option
  • No Credit History or Minimum Credit Score Required for Approval
  • Quick and Complete Online Application; No credit inquiry required!
  • Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
  • Full-Feature Platinum Mastercard® Secured Card; Try our new Mobile App for Android users!
  • Good for Car Rental, Hotels; Anywhere Mastercards Are Accepted!
  • Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
  • Credit Line Secured by Your Fully-Refundable Deposit of $200-$2,000 Submitted with Application
  • Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
  • 24/7 Online Access to Your Account
  • Nationwide Program though not yet available in NY, IA, AR, or WI *See Card Terms.
  • Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined.

Our Take

People with poor credit scores know how difficult it can be to get back on track after making bad financial decisions. For this group of people, it’s complicated to get new cards, as most providers will reject their applications. At the same time, when they get rejected, the event is also reported to the credit bureaus, which means that their credit scores will look even worse. And that’s where cards like First Progress Platinum Elite Mastercard come into play. This secured card doesn’t require any credit inquiries, and most applicants get approved when applying for one. They are designed to help people with poor credit, or no credit at all get off on the right foot as credit holders.

Who Is This Card for?

The First Progress Platinum Elite Secured Card is designed solely for people with a poor credit score. It’s one of the three different secure credit cards offered by First Progress (Select/ Elite/ Prestige). No matter what kind of credit score a person has, they will get approved for this card without a credit inquiry. People that have never owned a credit card or carried loans can use First Progress Platinum Elite to start building a healthy credit history. On the other hand, those who’ve seriously damaged their score can use it to get back on track. All the payments on this card are reported to the three major credit bureaus, which makes it ideal for building a credit score.

RELATED: Secured Credit Cards Explained

First Progress Platinum Elite Benefits

  • Made to rebuild credit. First Progress Platinum Elite is designed with only one goal in mind – rebuilding credit score. The card allows holders to do this effectively each month, without too much risk, which is why this secure credit card doesn’t offer many other benefits.
  • Credit reporting. All of them are focused on this area and nothing else. First Progress will consistently report all your activities on your credit card account to the largest credit reporting agencies – TransUnion, Experian, and Equifax.
  • No credit check. You can get the card without a credit check, and even if someone’s application gets denied, there will be no trail on their credit history. First Progress also gives users an online account through which they can track their balance and automate payments.

Are There Any Disadvantages?

  • Annual fee. Platinum Elite secured credit card comes with the lowest annual fee of all three cards offered by the company. You will be expected to pay $29 annually, which is not that much. Still, compared to other secured cards out there, this is a bit expensive.
  • In-depth application checks. However, other security cards require more thorough checks, and getting your application accepted is not that easy. With this card, you can rest assured that you will get approved no matter what your score is at the moment.

Should You Use Platinum Elite Card?

If you’ve made a lot of financial mistakes in the past, or you simply want to learn responsibility early on, this card is the right choice for you. On the other hand, if your credit score is so bad that you can’t get any other card, this secure credit card is a safe bet, and you should rely on it. However, it does require a deposit of a minimum of $200. It’s an excellent option for getting yourself out of the financial slump, but it comes at a price. You need to gather enough cash for the deposit and the $29 annual fee. If you can do this, go for this card and build your credit score on a monthly basis.

Other First Progress Secured Cards

Apply Now
Basic Information
Issuer: Synovus Bank
Network: Mastercard®
Category: Consumer (Secured)
Review: Full Card Review
Best Used For:
  • Cards for Bad Credit
  • Instant Decision
  • Building Credit
  • New to Credit
  • No Credit Check
Rewards: No
Rates & Fees
Regular APR: 19.99%
Regular APR Type: Variable
Annual Fee: $29
Balance Transfer: No
APR on Cash Advances: 24.99%
Grace Period: 25 Days
Late Payment Fee: $40
Other Fees:
  • Returned Payment: up to $40.00
  • Foreign Transaction Fee: 3%

First Progress Platinum Elite Mastercard® Secured Card Alternatives


First Progress Platinum Elite Mastercard® Secured Card

First Progress Platinum Elite Mastercard® Secured Card

APPLY NOW

Annual Fee

$29

Regular APR

19.99%

Intro APR

N/A

Min. Credit Level

Bad Credit OK

IMPORTANT
*The information provided for First Progress Platinum Elite Mastercard® Secured Card is believed to be accurate at the time of evaluation or recent update on October 17, 2021. However, we strongly advise visitors to review the card fees and Terms & Conditions on the issuer's website by following Apply Now link to verify the accurancy of the information posted prior to applying for this card offer.

First Progress Platinum Elite Mastercard® Secured Card

Reviews - (1 User Reviews)
Share your experience and rate the First Progress Platinum Elite Mastercard® Secured Card
(Good)
March 27, 2021
Amber S. (26-35) - Cardholder
Income on Application
$24000
Credit Score
Needs Work (300-579)
Credit Limit
$1200
Filed for Bankruptcy
No

Fast credit building

Poor choices in my early 20s really messed up my credit score and I’ve been trying to improve it for years. I applied for more credit cards than I can count and all my applications got rejected accept for First Progress Platinum Elite. Its a secured card and I made the biggest security deposit I could at the time. I pay off my debts every time in full and my credit score is rising quickly. I always review my card use on my account and so far so good. It’s a good card for low credit score.
Fees & Charges:
3/5
Features & Benefits:
4/5
Customer Support:
5/5
Application Process:
5/5
Comment (0)

First Progress Platinum Elite Mastercard® Secured Card

First Progress Platinum Elite Mastercard® Secured Card

Min. Credit Required: Bad Credit OK

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