First Progress Platinum Elite Mastercard can be a good choice for anyone looking for a credit-card with multiple benefits. Although this secured credit card has many benefits, some people have negative opinions about it due to its poor customer service, insufficient rewards program, and late card delivery. First Progress offers three types of credit cards, the unsecured, secure, and the platinum elite.
Credit line
The First Progress Platinum Elite Mastercard is a secured credit card that offers excellent credit building potential. There is no credit screening and you can choose between $200 and $2,000 depending your financial situation. You can report the card to all three credit bureaus.
Low APR
First Progress Platinum Elite Mastercard has a low annual percentage rate, making it an ideal choice for those who want to build good credit. The card is a full-featured account that offers a revolving credit line based on the security deposit. You can also monitor your credit score. You can make payments from your bank account, eliminating the need to find a separate payment vendor.
No rewards program
First Progress Platinum Elite Mastercard has no annual fees, no minimum credit score and no rewards program. This secured credit card is a good choice for people with bad credit or limited credit history. To reduce default risk, the card comes with a minimum $200 security deposit.
No intro APR offer
Although the First Progress Platinum Elite Mastercard has a no intro APR deal, you should not expect it to have a zero introductory rate. You should consider looking elsewhere if you are looking for the lowest APR secured credit cards. The Platinum Elite Mastercard offers solid credit options for people with low credit scores. No matter what credit score you have, the card can be applied for. All you have to do is fill out an application, make a deposit, and click the Go to Payment button.
No credit score needed
First Progress Platinum Elite Mastercard is a great choice for people looking for a secured credit card with no credit score requirement. You get zero liability protection, rental car collision damage waiver, and extended warranty coverage. It offers no foreign transaction fees and a free FICO credit score every month.
No annual fee
First Progress Platinum Elite Mastercard has a minimum deposit of $200. Your credit history may dictate that you can deposit upto $2,000 There is an additional $29 per year fee. This is higher than the average annual fee for secured cards. However, this credit is a good choice for those looking to improve their credit scores.