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First Progress Platinum Select Mastercard Secured Credit Card

in Personal Credit Cards

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First Progress Platinum Select Mastercard Secured Credit Card

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in Personal Credit Cards

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Overview

Who is First Progress' Select Platinum Secured Mastercard Designed For?

The Platinum Select Mastercard secured credit card is designed for people with bad credit or no credit who want to repair or build their credit score.

First Progress has three types of secured Mastercards: the Platinum Prestige, the Platinum Elite and the Platinum Select. The only real difference is the annual fee and the APR for purchases. The higher the annual fee the lower the APR. This card offers the middle ground between cost and low rates.

What are the Rates for First Progress' Select Platinum Secured Mastercard?

The rate of purchases is 13.99% APR. Cash advances have a 19.99% APR. These rates look low, particularly for a card that has no credit requirements. However, remember this is a secured card not a credit card, which means the line of credit is equal to the security deposit made by cardholders. If you keep a balance on this card, you are effectively paying for borrowing your own money.

What Are the Fees for First Progress' Select Platinum Secured Mastercard

The Select Platinum Secured Mastercard has a $39 annual fee. There is also a 3% cash advance fee with a minimum fee of $10 and a 3% foreign transaction fee. Late payments incur a $38 fee and returned payments will cost you $27.

What Is First Progress' Select Platinum Secured Mastercard Rewards Program Like?

Secured cards don't usually have a rewards programs and this one is no exception.

What about First Progress' Select Platinum Secured Mastercard Signup Bonus?

There is no signup bonus for First Progress' Select Platinum Secured Mastercard.

Does First Progress' Select Platinum Secured Mastercard Any Other Benefits?

Apart from being a secured card that is accepted wherever they take Mastercard, this card has no additional perks. The main benefit using this card is that they report account activity to the national credit bureaus, which over time and if members manage their credit responsibly can increase their credit score.

The purpose of using this card is to build up your credit so you can qualify, among other things, for credit cards that do have a rewards program and extra benefits.

How Is First Progress' Select Platinum Secured Mastercard Better Than Other Credit Cards?

The First Progress Select Platinum Secured Mastercard offers a middle of the road trade-off for an annual fee ($39) and rate on purchases (13.99% APR). This allows people with bad credit to repair their credit score without having to pay outrageous fees or excessive rates on the months they carry a balance.

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Contact

  • Headquarters
  • 1111 Bay Avenue
    Columbus, GA 31902 USA
  • Visit Site

Other Services by Synovus Bank

Availability

Available in 46 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wyoming

Feature Breakdown

Grace Period / Deferred Interest (Months)
25
Over-Limit Fee
$0
Minimum Interest Charge
$0
Late Payment Penalty
$38
Returned Payment Fee
$27
Annual Fee
$39
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
Customer Type
Personal
Credit Card Benefits
  • Fraud Liability
  • ID Theft Protection
Fraud Liability
Purchases APR
(Variable APR)
Starting at
13.99%
Balance Computation
daily balance
Credit Limit
5000

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Other Personal Credit Cards

Synovus Bank Personal Credit Cards

Product

Reviews

Purchases APR

Balance Transfer APR

Annual Fee

Credit Score Range

First Progress Platinum Elite Mastercard Secured Credit Card

First Progress Platinum Elite Mastercard Secured Credit Card

 
6
5
11 total votes
Starting Purchases APR
(Variable APR)
19.99% Starting Variable APR
Balance Transfer APR N/A Balance Transfer APR
Annual Fee $29 Annual Fee
Credit Score Range 300 - 640 300 850
First Progress Platinum Prestige Mastercard Secured Credit Card
Starting Purchases APR
(Variable APR)
9.99% Starting Variable APR
Balance Transfer APR N/A Balance Transfer APR
Annual Fee $49 Annual Fee
Credit Score Range 300 - 640 300 850