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First Progress Platinum Prestige Mastercard® Secured Credit Card review
Do you need a credit card but have bad credit? Check out our review to learn about the First Progress Platinum Prestige Mastercard® Secured Credit Card!
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Low-interest rate and accessible score requirements!
If you have a ruined score, getting approval for a credit card can be a challenge. After all, why would a bank accept it? The First Progress Platinum Prestige Mastercard® Secured Credit Card came to save your bad credit.
How to apply for the First Progress Platinum card?
Looking for a credit card for bad credit? Read more to learn about the First Progress Platinum Prestige Mastercard® Secured Card application!
It is the perfect opportunity to rebuild your score and help your finances at the end of the month. With the distance of a quick online application, your card will be in hand in just a few days. Stay tuned to understand how!
- Credit Score: Poor/Limited/No Credit.
- Annual Fee: $49.
- APR: 15.24% (variable) for Purchases and 21.99% (variable) for Cash Advances.
- Welcome bonus: No welcome bonus.
- Rewards: 1% cashback on payments (terms apply).
First Progress Platinum Prestige Mastercard® Secured Credit Card: how does it work?
The Platinum Prestige Mastercard® Secured Credit Card is based on a refundable $200-2000 security deposit.
Because the score requirements are more accessible, there are great chances that your card will be approved within a few hours.
After that, covering expenses in transportation, food, entertainment and all sorts of services will become easier.
So, even if you don’t have good credit, you will be able to purchase things online and in stores all over the American territory.
Still, it is important to analyze the costs involved because they may not suit every pocket. Don’t forget the annual $49 fee, the 15.24% variable APR for Purchases and the 21.99% variable APR for Cash Advances.
For this credit card, a bank account is necessary to hold monthly payments. There are no welcome bonuses.
But when it comes to credit rebuilding, the Platinum Prestige Mastercard® Secured Credit Card is a handy tool since it reports bank transitions to the three main credit bureaus.
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First Progress Platinum Prestige Mastercard® Secured Credit Card: should you get one?
If you end up with bad credit, the Platinum Prestige Mastercard® Secured Credit Card is a possible way to assist you in getting a limit back. If you don’t have a credit history yet, the bank offers the same conditions.
To help you decide whether or not this card is a good choice, we have gathered some features and drawbacks you should consider before applying. Let’s take a look:
Pros:
- 1% Cash Back Rewards on payments.
- Choose your own credit line – $200 to $2000 – based on your security deposit.
- Build your credit score. Reports to all 3 credit bureaus.
- Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
- Pay 6-months-on-time and apply to get a second credit card!
- Secured Cards are a great way to start establishing credit for people with low/no credit scores¹.
- Get a fresh start! A discharged bankruptcy in your credit file will not cause you to be declined.
- Past credit issues shouldn’t prevent you from getting a credit card with great benefits & rewards!
- See your VantageScore®+. Easy, Free Access to Credit.
- Education in the First Progress Card Mobile App!
- Receive your card more quickly with the new expedited processing option.
- User-friendly Mobile App.
- Accepted throughout the U.S. and online.
- Accepted wherever Mastercard® is accepted.
Cons:
- $49 Annual fee
- Requires qualified bank account
- No welcome bonus
- $200 security deposit required
Credit scores required
The credit score requirements are broad, meaning you can request the card even with a poor rating, or even no credit!
First Progress Platinum Prestige Mastercard® Secured Credit Card application: how to do it?
After considering the advantages and disadvantages of the Platinum Prestige Mastercard® Secured Credit Card, you’ve seen that recovering credit and restarting your finances is simpler than you thought.
Click the link below and find out how to apply!
How to apply for the First Progress Platinum card?
Looking for a credit card for bad credit? Read more to learn about the First Progress Platinum Prestige Mastercard® Secured Card application!
About the author / Suzana Brito
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