First Progress Platinum Prestige Mastercard® Secured Credit Card

The First Progress Platinum Prestige Mastercard® Secured Credit Card is a no-frills card designed for those who want to rebuild their credit. It requires a security deposit between $200 and $2,000. The deposit is equal to your credit line. However, it charges a $49 annual fee, which will eat into your credit line by as much as 25%. There are other secured credit cards without an annual fee, so consider one of those first. The card does report to all three credit bureaus and earns 1% cash back. We dive into the details in this First Progress Platinum Prestige review.

First Progress Platinum Prestige Mastercard Secured Credit Card

Our Rating

2.0/5.0

Welcome Offer

None

Annual Fee

$49

0% on Purchases

N/A

Reward Rate

1% cash back

0% on Balance Transfers

N/A

Features & Benefits

SecurityZero Liability, Identity theft protection
Contactless Payments
Benefits24/7 customer service
Travel PerksNone

Rewards

1% cash back
All eligible purchases
1% Cash Back Rewards on payments

Interest Rates & Fees

Annual Fee$49
Foreign Transaction Fee3% of the transaction amount
Regular APR15.24% (Variable) (V) APR

Pros & Cons

Pros
  • 1% cash back on payments
  • Reports to all 3 major credit bureaus
Cons
  • Annual fee
  • No welcome bonus
  • Foreign transaction fee
  • Requires a paper check to fund your security deposit

What Are the Best Alternatives?

Capital One Quicksilver Secured Cash Rewards Credit Card
Capital One Quicksilver Secured Cash Rewards Credit Card

Rating

4.8

Rewards Range

1.5%

Annual Fee

$0

Secured Chime Credit Builder Visa® Credit Card
Secured Chime Credit Builder Visa® Credit Card

Rating

4.5

Rewards Range

N/A

Annual Fee

$0

U.S. Bank Cash+® Secured Visa® Card
U.S. Bank Cash+® Secured Visa® Card

Rating

4.6

Rewards Range

1% - 5%

Annual Fee

$0

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