First Progress Platinum Prestige Mastercard® Secured Credit Card
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The First Progress Platinum Prestige card is a very good option for people who want to rebuild or establish their credit. If you had financial difficulties in the past and want to get back on track, this card is a good option for you. When cardholders make their deposits, they set how much their initial credit line will be. Simply put, this card puts cardholders in control of their fate. If you use this card responsibly, you can constantly improve your credit score and even speed up the process by expanding your deposit. This card has a lower APR than most secured credit cards, so even if you carry some balance, you won't get charged much.
- Invest your tax refund to improve your credit by making the refundable deposit for your new secured card today
- No Credit History or Minimum Credit Score Required for Approval
- 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
- Nationwide Program though not yet available in NY, IA, AR, or WI *See Card Terms.
- Apply in just a few moments with no negative impact to your credit score; no credit inquiry will be recorded in your credit bureau file
- Read the Review of First Progress Prestige Mastercard
Finding a good card for repairing your credit score can be really difficult. If you're having trouble with this, you're probably familiar with all the struggles. One of the biggest issues is that no credit card provider wants to give their services to applicants with a troubled credit history.
On the other hand, everyone needs to start somewhere. What's great about First Progress Platinum Prestige Mastercard® is that when people apply for this card, they won't have a credit inquiry marked on their report. This means that even if someone is rejected for the card, it won't damage their score further.
The Platinum Prestige has basic requirements and comes with basic features. It's designed with one goal - to help improve credit score.
Who Is This Card for?
The card is designed for people that really damaged their credit score. Unlike similar secured credit cards, it's quite straightforward and doesn't offer any additional "perks" that might cause you to use the card even when you don't really have to.
It targets people who don't have a great credit score, and it has an amazing approval rate. All US residents, except those from several defined states, can apply and get the First Progress Platinum Prestige Mastercard® Secured credit card. The only reason for getting this card should be to build your credit score.
Even if you have a good credit score, you can get this as an additional card to help you build it faster.
(Read related: 13 Reasons to Carry a Secured Credit Card)
Platinum Prestige Secured Credit Card Benefits
First Progress Platinum Prestige doesn't offer a wide range of benefits. However, all the benefits it does have are very valuable, and the card is designed to focus on them. The primary benefit of holding this card is that First Progress reports your card activity to the three largest credit bureaus.
You can rely on this at the end of each month. The second large benefit of Platinum Prestige Mastercard® is that anyone can get. You only need to give some basic personal and financial information during your application to get approved.
There aren't any credit checks, and it's almost impossible to get rejected for the card. The card also comes with an online account, where you can track your balance at all times.
Are There Any Disadvantages?
All credit cards have their own upsides and downsides. The important thing is whether the users can surpass the negative aspects and harness the benefits, which is exactly the case with this card. It does come with a fairly high annual fee, but it has low interests in turn.
The reason why the annual fee is a bit high is that these cards are available to high-risk holders. Still, when you look at the fee price and what the card allows you to do, you quickly realize that it's a fair trade. Nobody is going do you any favors, especially when we're talking about credit.
Should You Use This Card?
Whether you should use this card purely depends on your current financial situation. It's up to you to analyze your needs and see whether this card is a good fit for you. If you don't have financial stability and you would like to start building your credit, this card might be the right thing for you.
If you have enough money to pay for your annual fee and give a minimum of $200 security deposit, then this card is a good option. Out of all the First Progress Platinum secured credit cards, the Prestige Secured card has the lowest interest rates, so even if you make some mistakes on the way to building credit, you won't be affected too much.
Read the Review of First Progress Prestige Mastercard
- Anyone can get the card.
- The card activity is reported to the credit bureaus each month.
- You can always check the state of your account online.
- Low interest rates.
- Has no rewards.
- High annual fee.
- Cards for Bad Credit
- Low Interest Cards
- Tax Refund
Finance & Rates
First Progress Platinum Prestige Mastercard® Secured Credit Card - Alternatives & Comparison
First Progress Platinum Prestige Mastercard® Secured Credit Card
Min. Credit Level
Bad Credit OK*