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First Progress Platinum Prestige Mastercard® Secured Credit Card

Credit needed
Good
APR
9.99% (Variable)
Annual Fee
$49

Card Summary

First Progress has three Platinum Secured Credit Card options that can help you improve or build your credit. You don't need to have a credit record or have a minimum credit score in order to apply.

Simply make a $200-$2,000 deposit at Synovus Bank. The amount of the deposit will be your credit limit. You will be approved for any of the cards. Only the APR and annual fees differ between these cards.

First Progress Platinum Elite Mastercard Secured Credit Card offers the highest annual fee and APR, while the First Progress Platinum Select Mastercard Secured Credit Card is midrange in APR.

First Progress Platinum Prestige Mastercard Secured Credit Card has the highest annual fees at $49 but the lowest APR at 9.99% (Variable).

Card Summary - Cons

Rates and fees

Issuer Name
First Progress
Penalty APR
N/A
Credit Needed
Good
Balance Transfer Fee
N/A
Annual Fee
$49
Cash Advance Fee
$10.00, or 3% depending on the cash advance amount.
APR
9.99% (Variable)
Foreign Transaction Fee
3.30%
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The Best Features

Interest rate low: First Progress Platinum Prestige Mastercard Secured Card has a 9.99% Variable APR.

This is less than most secured credit cards. You can earn a higher credit limit with the First Progress Platinum Prestige Mastercard secured credit card. This allows you to increase your credit limit without needing to deposit additional security deposits.

Your credit history, income, and credit score will determine how much credit you can get.

Rewards

Sign up bonus

APR Requirements

Drawbacks

There is no sign-up bonus, zero percent APR rate introductory rate, or sign up bonus for First Progress Platinum Prestige Mastercard Secured Credit Card.

The card does not offer any sign-up bonuses or 0% APR initial rate. Standard APR: 9.99% (Variable).

A security deposit is required for the First Progress Platinum Prestige Mastercard Secured Credit Card. It requires a $200-$2,000 deposit with Synovus Bank. Your credit limit is the amount you deposit.

Highlights

With the new expedited processing option, you can receive your card faster. For approval, there is no minimum credit score or credit history. Fast and complete online application.

Fully-Featured Platinum Mastercard and Secured Credit Card. These cards are accepted for car rental, hotels and all other credit card transactions.

Monthly reporting to the 3 major credit bureaus in order to establish credit history.

Apply to get credit line secured by your fully-refundable deposit of $200 -- $2,000.

You can pay off your balance and receive your deposit back at any time24/7 online access to your account.

Benefits

Comparative Analysis with Other Cards

First Progress Platinum Prestige Mastercard Secured credit Card vs. Capital One Platinum Safed Credit Card

Annual Fee: $49.95 for the First Progress Platinum Prestige Mastercard Secured Credit Card. Annual fee: The Capital One Platinum Secured Credit Card charges a $49.

Rewards: There is no rewards program with this card.

Sign up bonus: No card provides a sign-up bonus to new cardholders.

Benefits: First Progress Platinum Prestige Mastercard Secured Credit Card has benefits such as zero-liability protection and 24/7 roadside assistance. It also offers extended warranty coverage, purchase protection and rental car collision damage waiver.

Capital One Platinum Secured Credit Card provides emergency card services and fraud protection.

First Progress Platinum Prestige Mastercard Secured Credit Card vs. Discover It Secured credit card

Rewards: The First Progress Platinum Prestige Mastercard Secured credit card does not have a rewards program. Discover it Secured credit card offers up to $1,000 of combined gas station and restaurant purchases, as well as 2% cashback on all purchases.

Sign up bonus: The First Progress Platinum Prestige Mastercard Secured Credit Card doesn't offer a sign up bonus. Your total cash back rewards with the Discover it Secured credit card are automatically matched after the first year.

Benefits: First Progress Platinum Prestige Mastercard Secured credit card holders get zero-liability insurance, 24/7 roadside assistance and travel assistance. Purchase protection is also available. Extended warranty coverage is offered. A rental car collision damage waiver is also included.

Cardholders of Discover it Secured Credit Card have the opportunity to receive a monthly FICO credit score and no foreign transaction fees. There is also no late fee.

Redeeming Rewards

Maximizing Rewards

Annual Fees

Conclusion

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No late fees. Reduced interest charges. Pay off

First Progress