First Progress Platinum Select Mastercard® Secured Credit Card

The Platinum Select Mastercard is one of the three secured credit cards offered by First Progress Bank. The company has a package offer directed towards people that want to rebuild their credit score or establish it properly. The requirements for getting this card are quite basic, and the whole application process is simple and quick. This card has such a high approval rate that getting denied would be simply impossible. However, even if this happens, you won’t have to worry about another negative mark on your credit score, as the application doesn’t involve credit inquiries. This card is a simple-to-get tool that allows you to improve your credit score without too much stress.

Who Is This Mastercard for?

For people with bad credit scores or those who don’t have one yet. First Progress Platinum Select credit card is a unique card, and anyone can get it. This card is made for US residents, and even if your FICO score is under 500, you can get approved. A lot of secured card providers say that they give their cards to everyone, but this isn’t the actual practice. First Progress delivers on this, and anyone can apply and get it, regardless of what their credit score is. The only requirement is to be over 18 years old, to have a social security number, and a US residence.

First Progress Platinum Select Secured Card Benefits

• Made to build credit. A lot of secured credit cards currently on the market promise various benefits but miss out on the single most important one – getting your credit score back on track. First Progress Platinum Select is the exact opposite. It doesn’t offer any fancy benefits other than making it easy to build credit.
• Moderate fees. It doesn’t require a big investment and comes with moderate fees and interests.
• High approval rates. The approval rates are really high, and these cards are available to everyone.
• Fast application. The application process lasts only a couple of minutes. In just a couple of days, when a plastic card received, you can start using this card and build your credit.

Are There Any Disadvantages?

• Annual fee. If you look at the Platinum Select card from the angle of rebuilding credit, it doesn’t have any big disadvantages. It does come with an annual fee of $39, which is fairly moderate but compared to some other cards out there, this might be the downside of this card. Still, the Platinum Select Secured Card is easily approved without a credit inquiry. This isn’t something that you will come across very often. You will also have to make a deposit if you want to extend your credit line.

Should You Use the Select Card?

We think that paying a moderate annual fee is worth it if you’ll have a chance to build your credit in return. This is what the First Progress Platinum Select credit card guarantees you. First of all, it’s easy to get approved for the card, and second, your activity will be reported to 3 main credit bureaus. Now, the important thing for you to do is to consider what your options are. If you really have a low credit score, then going with this card might be the answer. Some other credit providers will destroy you with fees and interest if you have a low score, and they don’t even guarantee approval.

Other Secured Cards from First Progress

• Elite Secured Mastercard
• Prestige Secured Mastercard