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Who is the First Progress Platinum Elite 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 application. The maximum credit limit is $2,000.

What are the Interest Rates for the First Progress Platinum Elite?

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

What Are the Fees for First Progress Platinum Elite?

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 interest rate, cash advances also have a $10 or 3% fee, whichever is greater.

What Is First Progress Platinum Elite'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's Signup Bonus?

There is no signup bonus with this card.

Does the First Progress Platinum Elite 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 Better Than Other Credit Cards?

Although not a credit card, First Progress Platinum is a Master Card 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.

  • Card Type
    Secured
  • Customer Type
    Personal
  • Card Network
    Mastercard
  • Co-signing Allowed
  • Grace Period / Deferred Interest
    25
  • Late Payment Penalty
    $38
  • Minimum Interest Charge
    $2
  • Returned Payment Fee
    $27
  • Foreign Currency Transaction Fee
    3%
  • Car Rental Insurance
  • Emergency Support
  • Extended Warranty
  • Flight Insurance
  • Fraud Liability
  • Free FICO Score
  • Lost Luggage Insurance
  • Travel Insurance
  • Air Miles
  • Cashback
  • Points
  • Purchases APR
    19.99% - %
js-table-filter bizname-first-progress-platinum-elite-mastercard-secured-credit-card
29
js-table-filter ccard-type-138
19.99
js-table-filter card-type-11
js-table-filter credit-required-132
js-table-filter credit-required-113

Est. 2011

Annual Fee $29
Card Type Secured
Purchases APR 19.99%
073
js-table-filter bizname-first-progress-platinum-prestige-mastercard-secured-credit-card
js-table-filter air-miles-136
44
js-table-filter ccard-type-137
js-table-filter ccard-type-138
11.99
js-table-filter card-type-11
js-table-filter credit-required-132
js-table-filter credit-required-113

Est. 2011

  • Air Miles
Annual Fee $44
Card Type Balance Transfer
Card Type Secured
Purchases APR 11.99%
Balance Transfer APR 11.99%
006
js-table-filter bizname-first-progress-platinum-select-mastercard-secured-credit-card
39
js-table-filter ccard-type-137
js-table-filter ccard-type-138
14.99
js-table-filter card-type-11
js-table-filter credit-required-132
js-table-filter credit-required-113

Annual Fee $39
Card Type Balance Transfer
Card Type Secured
Purchases APR 14.99%
Balance Transfer APR 14.99%%
000
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0 votes

I chose this card because it reports to the three credit bureaus. If you're having trouble with low credit scores, that 3-way reporting is something you DEFINITELY want. Don't waste your time with a secured card that is only reporting to one credit bureau.


0 votes

I just really hate the fact that I have to pay off a credit card every month in order to not get charged interest on my own money, but it looks like this is the only way for me to get a card and rebuild my bad credit. So far it has been going okay, although the website isn't too good.


0 votes

Credit repair is a lot like dieting. It is so time consuming and hard compared to spending! I got this card to help to snap myself into shape. I figured that the relatively high interest rate would make it so I wouldn't carry a balance. It's working so far, and according to my three credit bureau reports I get from this it is working, little by little, pound by pound!


0 votes

The concept is there, but the follow through and the organization of this company is all over the place. The site doesn't appear to be updated half of the time, and it's so hard to make a payment and make it when you're supposed to. On a positive note, my credit score has gone up. So if I can figure out how to pay the thing off at the right time and bow out and get my money and get an unsecured card, I'll be okay!


0 votes

I have credit that is pretty bad, so I figured this card could help me dig out of it all. Turns out I was right. It is helping me to do that. The three credit bureau report I get from them also helps me to verify that. I wish that it was a system, though, that allowed you to switch from secured to unsecured after a time once you had good behavior. It sucks having my money tied up and then paying interest on my own money if I don't ... pay it off in time each month. More Less


0 votes

Totally irks me that I have to get a secured card and essentially borrow money from myself and pay interest on top of it! But since my credit dipped so low, that's the only thing that it looks like I can do to pull it up. I'm gritting my teeth and going with it, and this company seems to be doing a fair job of facilitating the process.


0 votes

Losing a job and a husband within a few months of one another put my credit rating in the dumpster. I'm now gainfully employed and digging my way out of debt and this card is helping with that. I got a CL of $1500 and am using up to 60 perecent of the CL each month. I've seen my credit score start to creep up, so there is hope!


0 votes

I know I'm not rating on the website, but seriously? This isn't the dark ages when it comes to websites. The site needs a ton of updating, which would probably help when you're trying to navigate how this secured credit card stuff works. Like many who ended up going the secured route, I once had unsecured credit cards, but life happened. I'm only using up to 40 percent of the line each month and that seems to be working okay.

0 votes

This is a great company to rebuild a solid credit history. I admit their website could use updating, especially when it comes to making online payments. Every time I've contacted them, they are very friendly. I've had this card for 2 years now with a 2,000. Cl. Just make sure you pay off the entire balance 10 days before due date, and watch your credit score rocket.


0 votes

The maximum credit line with this card is $2,000, which I can understand because people who have bad credit are likely to get a little carried away (present company included!). I like the fact that this card is keeping me on the straight and narrow while I rebuild my credit.


0 votes

This card will work out well for you to rebuild your credit, providing that you pay your bill way ahead of time! I would even say that it would be good to pay it as soon as you use it. I had a little diffculty originally when I went to pay it and it took forever to get posted. Almost was late!


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