First Progress Platinum Prestige Mastercard® Secured Credit Card
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The First Progress Platinum Prestige Mastercard® Secured Credit Card is a no-frills card designed for those who want to rebuild their credit. It requires a security deposit between $200 and $2,000. The deposit is equal to your credit line. However, it charges a $49 annual fee, which will eat into your credit line by as much as 25%. There are other secured credit cards without an annual fee, so consider one of those first. The card does report to all three credit bureaus and earns 1% cash back. We dive into the details in this First Progress Platinum Prestige review.
Our Rating
2.0/5.0
Welcome Offer
None
Annual Fee
$49
0% on Purchases
N/A
Reward Rate
1% cash back
0% on Balance Transfers
N/A
Welcome Offer
None
Features & Benefits
| Security | Zero Liability, Identity theft protection |
| Contactless Payments | |
| Benefits | 24/7 customer service |
| Travel Perks | None |
Rewards
Interest Rates & Fees
| Annual Fee | $49 |
| Foreign Transaction Fee | 3% of the transaction amount |
| Regular APR | 15.24% (Variable) (V) APR |
Pros & Cons
- 1% cash back on payments
- Reports to all 3 major credit bureaus
- Annual fee
- No welcome bonus
- Foreign transaction fee
- Requires a paper check to fund your security deposit
What Are the Best Alternatives?
Capital One Quicksilver Secured Cash Rewards Credit Card
Rating
4.8
Rewards Range
1.5%
Annual Fee
$0
Secured Chime Credit Builder Visa® Credit Card
Rating
4.5
Rewards Range
N/A
Annual Fee
$0
U.S. Bank Cash+® Visa® Secured Card
Rating
4.6
Rewards Range
1% - 5%
Annual Fee
$0