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The First Progress Platinum Elite Mastercard® Secured Credit Card
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On First Progress's secure site
Build Credit
Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
Credit Line
Get up to a $2000 credit line secured by a fully-refundable deposit
Regular APR
20.74% Variable
Card Network
Annual Fee
$29
Credit Score Needed
Limited, Bad
Offer Details
  • 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 Credit Card; Try our new Mobile App for Android users!

  • Good for Car Rental, Hotels; Anywhere Credit Cards 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; available in all 50 US states *See Card Terms.

  • Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined.

  • ¡Hablamos Español! Nuestros representantes de servicio al cliente hablan Español con fluidez para su conveniencia.

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All content is written by editorial staff or writers engaged by the site, not by marketers/sales staff. Editors responsible for producing the content are not in contact or affiliated with any advertiser and are not compensated based on success of the affiliate links. All decisions regarding recommendations are determined separately from advertising relationships. Any opinions, analyses, reviews or recommendations expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

The First Progress Platinum Elite Mastercard® Secured Credit Card Review

April 2, 2022

Who is The First Progress Platinum Elite Mastercard® Secured Credit Card for?

If you’re new to opening a bank account or trying to establish credit, this could be the fit you’ve been looking for. This card is among the best for new and inexperienced cardholders. This card has the rare “no credit line” policy, meaning they won’t take your credit score into account when deciding whether or not to approve you for the card.

Upon attaining this card, you will not need to link any bank accounts. Probably one of the most exciting features of these secured credit cards is that all money that goes into this card will be used as a credit line. With a credit line, all money that can be taken out from your bank under your account is stated. The final feature this card offers that is superior to most other credit cards is building credit. With monthly reporting to the three major credit bureaus (TransUnion, Equifax, and Experian), the credit will be billed in a timely fashion each month in the quickest way possible.

Rewards Rate

Something very interesting about this card is it doesn’t have typical bonus rewards points, therefore, it doesn't have redeemable rewards points either. This card really is for those who are just starting out and trying to figure out how to establish a great credit score.

Benefits and Credits

The application does not require a credit check which is a big relief for those with non-existent or bad credit history - getting approval for this card is relatively easy. If you’re a recent college graduate looking for work, this card is great to start out with. If you’re currently in college and looking to get a head start on your finances for the future, opening a credit card connected to the three major credit bureaus would be a positive start to personal gains in raising a credit score.

One of the more interesting things about this card is its refundable deposit within the credit line limit. When first opening your account with this card, you must make an initial deposit. This first deposit then becomes your credit line limit for this card. You can deposit as low as $200 or as much as $2,000.

Welcome Bonus

While this card has no formal or informal welcome bonus, it is still a great starter card for those with lower credit scores.

Annual Fee

There is an annual fee of $29 on this card, however, for the first year the annual fee is not going to be deducted because it is waived. Some may think of this as a sort of welcome bonus.

Conclusion

If you have established credit and aren’t looking for anything to upgrade your credit score, this probably isn’t for you. If you’re someone who wants to get into a better credit score standing, either because you’ve never had one or because of some untimely purchases, this could be the card to set you on the right path.

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Editorial Disclaimer
All content is written by editorial staff or writers engaged by the site, not by marketers/sales staff. Editors responsible for producing the content are not in contact or affiliated with any advertiser and are not compensated based on success of the affiliate links. All decisions regarding recommendations are determined separately from advertising relationships. Any opinions, analyses, reviews or recommendations expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
Approval Odds
BestCreditCard calculates your approval odds by comparing your credit profile to other BestCreditCard members who were approved for this product. These approval odds are estimates only and do not guarantee approval. Credit card issuers use a variety of different types of credit scores and criteria to make credit decisions. The TransUnion credit score we provide is based on the VantageScore 3.0 model and may not be the credit scoring model used by financial institutions presenting offers on our website.