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First Progress Platinum Elite Mastercard Secured Credit Card

in Personal Credit Cards

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First Progress Platinum Elite Mastercard Secured Credit Card

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in Personal Credit Cards

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5 users don't recommend
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Overview

Who is the First Progress Platinum Elite Mastercard Secured Credit Card Designed For?

First Progress Platinum Elite is for people with bad or no credit who want to build or repair their credit and have cash on hand to help them do it.

The First Progress Platinum Elite is a secured card, not a credit card. This means the line of credit is only as high as the security deposit made by the card member on the application. The maximum credit limit initially is $2,000.

What are the Rates for the First Progress Platinum Elite Mastercard Secured Credit Card?

The card has a 19.99% APR. Remember this is a rate paid on a line of credit that is directly covered by your savings, so you're effectively paying to borrow from yourself. The rate on cash advances is even higher: 24.99% APR.

What Are the Fees for First Progress Platinum Elite Mastercard Secured Credit Card?

The annual fee is $29, which is low compared to other cards for people with bad credit. Penalty fees, on the other hand are high. There is a $38 late payment fee and a $27 returned payment fee. Besides the high APR, cash advances also have a $10 or 3% fee, whichever is greater.

What Is First Progress Platinum Elite Mastercard Secured Credit Card's Rewards Program Like?

There is no rewards program linked to the First Progress Platinum Elite. However, if used wisely, it can help you improve your credit and qualify for credit cards that do have a rewards program.

What about First Progress Platinum Elite Mastercard Secured Credit Card's Signup Bonus?

There is no signup bonus with this card.

Does the First Progress Platinum Elite Mastercard Secured Credit Card Have Any Other Benefits?

The main benefit of the First Progress Platinum Elite card is that it reports to the three major credit bureaus. This allows card members to build or repair their credit.

How Is First Progress Platinum Elite Mastercard Secured Credit Card Better Than Other Credit Cards?

Although not a credit card, First Progress Platinum is a Mastercard and can be used wherever credit cards are accepted. It has no minimum credit score requirements and members can receive a credit limit of up to $2,000 if they deposit that amount with First Progress. Even people who have no credit history can qualify. This gives people with bad or no credit a chance to build a good credit history and apply for better credit in the future.

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Contact

  • Headquarters
  • PO Box 84010
    Columbus, GA 31908 USA
  • Visit Site

Other Services by Synovus Bank

Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period / Deferred Interest (Months)
25
Late Payment Penalty
$38
Returned Payment Fee
$27
Minimum Interest Charge
$1.5
Annual Fee
$29
Foreign Currency Transaction Fee
3%
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range
300 - 640
850 300 640
Minimum Age
18
Co-signing Allowed
Customer Type
Personal
Purchases APR
(Variable APR)
Starting at
19.99%
Balance Computation
daily balance
Credit Limit
2000

Reviews

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First Progress Platinum Select Mastercard Secured Credit Card
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