First Progress might be a good choice if you are looking for a low-interest credit card with no annual fee and low interest rates. All 50 states are eligible for this credit card. It has a $200 refundable deposit and allows you to add up to $2,000 if you need to. Your deposit can be increased at any time. First Progress must approve your request. After approval, the deposit will automatically be credited to your account and you'll receive a check within 10 working weeks.
Low interest rates
The First Progress Platinum Select Mastercard is a secure credit card that requires an initial deposit of $200. You can also deposit more money, up to a credit limit maximum of $5,000. The $39 annual fee is quite low and offsets the higher interest rate.
The First Progress Platinum Select Mastercard has all the features you need and low interest rates. It comes with a refundable safety deposit and reports to the major credit bureaus monthly. If you can make all of your payments on time, you'll establish a new credit history. After six months of regular payments, you can upgrade to a second card.
No sign-up bonuses
When you choose a credit card, you should be aware of the different options and fees. First Progress offers the Platinum Prestige Mastercard(r), a secured card. When you withdraw cash using this credit card, there is a $10 cash advance charge. In addition, the card has a 3% foreign transaction cost. A late payment penalty of $29 can be applied to the card if it is not paid within six months.
Although this credit card does not offer any sign-up bonus or rewards, it is an excellent option for people who want to build their credit. First Progress Platinum Select Mastercard Secured Card is not a signup bonus. However, it sends monthly payments to all major credit bureaus. This helps to reestablish credit scores and improve credit histories. First Progress platinum-series Mastercards have additional benefits, including $0 fraud liability as well as ongoing credit monitoring. This credit card is internationally accepted. It can also be managed via an app or online.
No annual charge
The First Progress Platinum Prestige credit cards do not have an annual fee. However, there are additional fees. Late payments can result in a $29 charge. There will be an additional $40 charge if you are late on more than six payments. This isn’t a significant issue but it is something to consider before signing up.
First Progress is a credit line that does not require you provide a credit score in order to approve your application. Most credit card issuers will review your credit reports with the major credit bureaus when you apply. This is known as a hard inquiry and can lower your score by a few percentage points. It will also stay on your credit report for up to two years. First Progress won't perform hard credit checks. You can rest assured that your credit report will be fine. First Progress makes use of a security bond to protect you against any defaults.
All 50 states offer this service.
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 annual credit card fee is $29 and includes foreign transaction charges. Customers can apply online, and they will receive their credit cards in 2-3 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 conduct a hard credit review, which can harm your score. A card issuer will not inquire if the applicant doesn't have credit history. Generally, the approval process takes up to three weeks. The lender is protected against loss if the security deposit is not received.
No hidden charges
First Progress offers credit cards with full-featured accounts and a revolving line of credit based on the security deposit. Customers who sign up to the card must have an account in their bank. This will save them the hassle of dealing with separate payment vendors. Customers have another benefit: they can pay their monthly bill using their bank account.
The First Progress Mastercard credit card is fully-featured. This card allows consumers establish credit and to pay their bills on-time. It also reports every month to all three credit reporting agencies. After six months of timely payment, customers are eligible for a second credit card.