First Progress Platinum Prestige MasterCard® Secured Credit Card

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  • Receive Your Card More Quickly with New Expedited Processing Option
  • No Credit History or Minimum Credit Score Required for Approval
  • Good for Car Rental, Hotels; Anywhere Credit Cards are Accepted!
  • Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
  • Credit Line Secured by Your Fully-Refundable Deposit of $200 - $2,000 Submitted with Application
  • Just Pay Off Your Balance and Receive Your Deposit Back at Any Time
  • 24/7 Online Access to Your Account
Annual Fee:
$49
Purchase Intro APR:
N/A
Purchase Regular APR:
10.49%*
Variable
Balance Transfer Intro APR:
N/A
Balance Transfer Regular APR:
N/A

Details, Rates & Fees

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* See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the provider's website.

Cash Advance Rate 19.49%* Variable
Cash Advance Fee 3%, Min: $10
Late Fee Up to $38
Penalty APR See Terms*
Balance Transfer Fee N/A
Foreign Transaction Fee 3%
Return Payment Fee See Terms*

Cardholders' Reviews

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Positive Review
LOVESAM75
Wonderful wonderful wonderful
by LOVESAM75
Helpful to 75 out of 78

First thing is set up bill pay that way it took a day or two and my bill is paid... my credit score went up 35 points with the first card iam applying for another to see what happens.... I did go over the 30% a little.. but other than that great card

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Negative Review
derrickjm
Balance reports prior to the CC arriving
by derrickjm
Helpful to 467 out of 490

 

YOU NEED TO READ THIS IN ITS ENTIRTY!!

   The balance reports to the credit bureaus prior to the card ever arriving at your door and you having a chance to pay the balance. Lets say your application is approved on January 1st, once your application is approved you have an immediate balance due of the $49 which is the annual fee. Reporting date is the 21st of every month. You recieve your card on the 24th because it takes forever to arrive (even with the expedited option). No worries because your bill isn't due until the following month on the 18th which is standard for everyone. Until you realize that your account was reported to all 3 major bureaus a few days before you ever recieved the card. 

Why not just pay the balance before it reported?

Because your account number is your CC number and you can't pay without your account number. There are no other options period. You must wait for the card to arrive in the mail in order to make your payment. 

Keep in mind the minimum balance you can open the card with is $200. Now $49 out of $200 is roughly equal to 25% credit usage (Experts say keep it below 30% but 0% is WAY better) which is what was reported to the bureaus. My goal was to keep my credit usage at 0% for an excellent rating and sustain this permenantly to help build my credit.

I had just gotten my Transunion score to 611 and after a month or two I decided to give this a go to continue building my credit score. Well when that 25% credit usage reported to the bureaus that score went from 611 to 505.

First Progress markets their product as credits builder cards but they damage your credit even further setting you back months, years, $100's or even $1,000s in debt payoffs or credit repair expenses.

I decided to write them and request that the first reporting date be removed from the bureaus since I wasn't provided an opportunity to pay the balance all due to the card not arriving with the information needed in order to do this. I even made them aware of how badly the early reporting damaged my credit score.

The response I recieved was that my request was "frivolous and the request has been denied".

More than 100 points down on my Transunion credit report  and 50-60 points with the other two bureaus and my request is "frivolous"?! YES, that's exactly what the letter said! 

If this is how they handle severe problems that can be resolved with a simple letter to the bureaus, how do you think they will handle the small to mid sized problem YOU have?

Don't do it! 

 


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† Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there's no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.

‡ Average score refers to the arithmetic mean, typical low score to the 5th percentile and typical high score to the 95th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from June 2018 through November 2018. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.

 
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