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The First Progress Platinum Elite Mastercard® Secured Credit Card review

The First Progress Platinum Elite Mastercard® Secured Credit Card is designed to help you rebuild your credit. You don't need any credit score history to get it. Keep reading to learn more!

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by Suzana Brito

08/29/2022 | Updated on 11/08/2022

The First Progress Platinum Elite Mastercard® Secured Credit Card: The ideal credit score booster

Learn more about The First Progress Platinum Elite Mastercard® Secured Credit Card. Source: First Progress.

If you have poor or no credit, you may think getting a credit card is out of reach. But with The First Progress Platinum Elite Mastercard® Secured Credit Card, you can start building your credit today.

Also, this card is thought for borrowers with bad or no credit and comes with a reasonable annual fee.

First Progress logo

The First Progress Platinum Elite application

Find out why The First Progress Platinum Elite Mastercard® Secured Credit Card can be the best card to help you improve your credit. Apply now!

So, if you’re looking for a card to build your credit history, you should consider the Platinum Elite Mastercard® Secured Credit Card. Keep reading!

  • Credit Score: Not required;
  • Annual Fee: $29;
  • Regular APR: 23.74% variable for purchases and 28.74% variable for cash advances;
  • Welcome bonus: N/A;
  • Rewards: N/A.

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The First Progress Platinum Elite Mastercard® Secured Credit Card: how does it work?

Woman paying with credit card
Find out how this credit card works! Source: Unsplash.

The First Progress Platinum Elite Mastercard® Secured Card is a helpful option for those who are establishing or restoring their history.

Also, this card ticks all the boxes of an average secured card. It’s easy to get approved for, and you can use it to build your credit quickly and effectively.

However, it focuses only on improving your credit and doesn’t provide any extra benefits such as bonuses or rewards.

Moreover, the annual fee is $29. It’s considered average in terms of cost. Also, the APR, which stands for annual percentage rate, is a 23.74% variable for purchases.

The security deposit ranges from $200 to $2000. Your credit limit will be equal to the amount of your deposit minus the annual fee. So, if you deposit $200, your credit limit will be $171.

Finally, the Platinum Elite Mastercard® Secured Credit Card monthly reports to the three major credit bureaus and helps establish a credit history.

These reports show your activity and amounts owed, which helps give creditors an idea of how likely you are to repay a loan.

This is one way to build good credit, by using credit responsibly and making payments on time. You also get free credit consultation at any time.

The First Progress Platinum Elite Mastercard® Secured Card: should you get one?

We know how tough it can be to get by with bad credit. This is why this card aims to help you boost your credit score.

In order to decide if the Platinum Elite Mastercard® Secured Credit Card is what you are looking for, let’s consider some pros and cons.

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Pros

  • No minimum credit history or score is required;
  • Accepted nationwide;
  • 24/7 access to your account;
  • Reports to federal credit bureaus;
  • Average annual fee.

Cons

  • High APR;
  • It doesn’t evolve into an unsecured credit card;
  • No bonuses or rewards.

Credit score required

The Platinum Elite Mastercard® Secured Credit Card is designed to help you rebuild your credit. You don’t need any credit score history to get it.

The First Progress Platinum Elite Mastercard® Secured Credit Card application: how to do it?

The application process is all available and accessible on their website. Ready to start improving your credit? This card is a good way to get started. Read the post below to learn more about the application process!

First Progress logo

The First Progress Platinum Elite application

Find out why The First Progress Platinum Elite Mastercard® Secured Credit Card can be the best card to help you improve your credit. Apply now!

About the author

Suzana Brito

I'm a Language Studies graduate and have always been interested in writing and sharing knowledge. By creating content about finances and related products, I believe in contributing to people achieving financial freedom and their goals in life.

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