First Progress is a credit card that offers low interest rates and has no annual fees. This credit card is available to residents of all 50 states. You can add up to $2,000 to your account and deposit $200. You can increase the amount of your deposit at any moment, but First Progress must be approved first. After approval, the deposit will automatically be credited to your account and you'll receive a check within 10 working weeks.
Low interest rates
First Progress Platinum Select Mastercard requires a $200 initial deposit. It is possible to make additional deposits and can be used to increase your credit limit to $5,000. It's relatively affordable at $39 and helps offset the higher APR.
First Progress Platinum Select Mastercard features a full-featured card that offers low interest rates. The card is issued with a non-refundable security deposit, and it reports monthly to the three main credit bureaus. You will establish a new credit record if you pay all of the payments on time. After six months, your credit score will improve and you will be eligible for a second credit card.
Sign-up bonus not available
When you choose a credit card, you should be aware of the different options and fees. First Progress offers a Platinum Prestige Mastercard(r), secured card. This credit card charges a $10 cash advance fee when you use the card to withdraw cash. In addition, the card charges a 3% foreign transaction fee. If you make more than one payment in a 6-month period, the card will charge a $29 late fee.
The credit card doesn't offer any rewards or sign-up bonuses, but it is a great choice for people who are looking to improve their credit. First Progress Platinum Select Mastercard Secured Card, despite not offering a signup bonus, reports monthly payments from the major credit agencies to the First Progress Platinum Select Mastercard Secured Card. This helps to rebuild credit and improve credit history. First Progress Platinum-Series Mastercards also offer ongoing credit monitoring and $0 fraud liability. The credit card can be used worldwide. You can manage your account online or via a mobile app.
No annual fee
There is an annual fee for the First Progress Platinum Prestige card. However, this card has other fees. For instance, if you miss your first payment, you could be charged as high as $29 There will be an additional $40 charge if you are late on more than six payments. This isn't exactly a deal-breaker, but it's something to keep in mind before you sign up.
First Progress is a card that doesn't require a credit check before approval. When you apply to a credit card, the issuer will typically check your credit score with the major bureau. This is called a "hard inquiry" and can reduce your score by a few point and remain on your credit reports for two years. Since First Progress doesn't do hard credit checks, you can rest assured that your credit will be okay. First Progress instead requires a security deposit to safeguard against defaults.
All 50 US states are eligible
First Progress Secured Credit Card is a revolving credit line that is based on a security deposit. The card does not have a minimum credit score and can be accepted in most countries. The credit card fee for the year is $29, and it includes foreign transaction fees. Customers can apply online and receive their credit card within two to three business days.
First Progress secured cards require applicants to provide basic identification information, such as their income and financial obligations. The applicant must also be able and able to deposit a security deposit. First Progress will not run a hard credit report, which can affect your score. A card issuer will not inquire if the applicant doesn't have credit history. The approval process usually takes three weeks. The security deposit protects the lender from losses in the event of default.
No hidden charges
First Progress is a credit card provider that offers full-featured accounts with a revolving credit line based on the security deposit. Customers signing up for the card need to have a bank account. This saves them from having to use separate payment vendors. Another benefit to customers is the possibility of paying their monthly bill from their bank accounts.
The First Progress Mastercard Credit Card is full-featured. This card allows you to build credit and pay your bills on time. It reports monthly to all three credit bureaus. After six months of timely payment, customers are eligible for a second credit card.