First Progress Platinum Secured Credit Cards

Advertiser Disclosure

Sometimes, your credit just isn’t where it should be.  Maybe you ran into trouble with employment, and had to miss a few payments.  Or, maybe, in your wayward youth, you made a few ridiculous purchases and never paid them back.  This post isn’t here to judge you.  It’s here to get you back on the road to a better credit score.

First Progress is a company that is built just for you.  They host three great credit card offers aimed to build trust in you as a credit holder.  Let’s take a quick glance at three card offers they have:  The First Progress Platinum Prestige, Elite, and Select MasterCard Secured credit cards.

 

 

First Progress Platinum Prestige MasterCard Secured 

A quick note: this card is not available to residents of Arkansas, New York, or Wisconsin.

The way secured credit cards work, you must put down a security deposit (for this card, between $300 and $2,000).  That deposit is fully refundable, but does not earn interest.  Essentially, that is then your credit limit.  With an annual fee of $44, the First Progress Platinum Prestige card offers an APR of 11.99 percent, which I find to be very fair.  There are no balance transfers offered, and cash advances carry an 18.99% APR rate.  Foreign transactions carry a 3% fee, and there’s a late payment fee of up to $25.

There are no bonus points, and no sign-up bonus for this credit card.

Apply Now: First Progress Platinum Prestige MasterCard® Secured Credit Card

 

First Progress Platinum Elite MasterCard Secured 

The First Progress Platinum Elite MasterCard Secured Credit Card is very similar to the above.  You must establish your credit limit with a security deposit between $300 and $2,000.  The only difference is the annual fee and the APR.  The annual fee is slightly lower, at $29, and the APR is slightly higher, at 19.99%.  Cash advances carry a 24.99% rate.  Penalty fees stay steady at $35.

Apply Now: First Progress Platinum Elite MasterCard® Secured Credit Card

 

First Progress Platinum Select MasterCard Secured 

The First Progress Platinum Select MasterCard Secured Credit Card is the middle tier card offering.  You must establish your credit limit with a security deposit of at least $300 once approved.  The annual fee comes in between the two above, at $39, with an APR of 14.99%.  Cash advances carry a 19.99% rate and penalty fees are still up to $35.

Apply Now: First Progress Platinum Select MasterCard® Secured Credit Card

 

Conclusion

Obviously, these cards fall into a very niche market, but a necessary one.  I’m a big fan of second chances, and these offer a safe way for people to begin using credit again after hitting a rough patch.

For me, I feel like the Platinum Elite MasterCard is the best bet, since it has a lower fee.  If you are trying to rebuild credit, I would personally recommend you never carry a balance month-to-month.  And, so, paying a lower fee in exchange for a higher APR would be a smart business decision.