Features

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 interest rates.

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

The interest rate on purchases is 14.99% APR. Cash advances have a 19.99% APR. These interest 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 interest 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. This is less than the $44 annual fee of the Platinum Prestige (11.99% APR on purchases) and more than the $29 annual fee of the Platinum Elite secured card. There is also a 3% cash advance fee with a minimum fee of $10 and a 3% foreign transaction fee. Late payments incur a $37 fee and returned payments will cost you $26.

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

Secured card 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 annual fee ($39) and interest rate on purchases (14.99%). This allows people with bad credit to repair their credit score without having to pay outrageous fees or excessive interest rates on the months they carry a balance.

  • Card Type
    Balance Transfer Secured
  • Customer Type
    Personal
  • Card Network
    Mastercard
  • Minimum Age
    18
  • Co-signing Allowed
  • Grace Period / Deferred Interest
    25
  • Late Payment Penalty
    $38
  • 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
    14.99% - %
  • Transfer Fee
    3% ($10 minimum)
  • Balance Transfer APR
    14.99%% - %
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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