First Progress Secured Credit Cards

First Progress Platinum Prestige Mastercard® Secured Credit Card

No Credit History or Minimum Credit Score Required

Compare Card

Cardholder Reviews

• Regular Purchase APR 9.99% variable based on the Prime Rate
• Cash Advance APR 18.99% variable based on the Prime Rate
• Annual Fee $49
• Credit Needed Poor , No Credit Required
• Processing Network Mastercard

Read Review

Terms & Conditions

Best Benefits ×

• Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined
• Quick and Complete Online Application; No credit inquiry required!
• Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users!
• Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
• 24/7 Online Access to Your Account
• Nationwide Program though not yet available in NY, IA, AR, or WI ** See Card Terms
• Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
• ¡Hablamos Español! Nuestros representantes de servicio al cliente hablan Español con fluidez para su conveniencia.

Rates & Fees ×

• Regular Purchase APR: 9.99% variable based on the Prime Rate
• Cash Advance APR: 18.99% variable based on the Prime Rate
• Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
• Annual Fee: $49
• Foreign Transaction Fee: 3% of the transaction amount
• Late Payment Penalty Fee: Up to $40
• Return Payment Penalty Fee: Up to $29
• Minimum Deposit Required: $200

Credit Card Deals ×

New Customers Offer – 15% off Your First Order of Contacts Plus Free shipping. Coastal.com Offer Expires on Jun 06, 2025 See Details

Receive up to 50% off hotels in addition to a 1% rebate CheckINN Direct Offer Expires on Dec 12, 2030 See Details

Save 15% Monster Offer Expires on Dec 12, 2030 See Details

Enjoy 5% rebate on all online bookings, global pass memberships and all premium subscription Coworker Offer Expires on Dec 12, 2030 See Details

Save up to 20% Squarespace Offer Expires on Dec 12, 2030 See Details

Save $500.00 Alibaba Offer Expires on Dec 12, 2022 See Details

Mix it up during an online cocktail masterclass with Archie Rose Distilling Co. Archie Rose Distilling Co. Offer Expires on May 05, 2022 See Details

Get creative with a digital colouring book by artist Jenny Haslimeier Jenny Haslimeier Offer Expires on Sep 09, 2022 See Details

Discover your favorite wine during a virtual tasting with WineOnline.ie WineOnline.ie Offer Expires on Sep 09, 2022 See Details

Explore Abruzzo National Park with your family and a guide The Camosciara Cooperative Offer Expires on Jan 01, 2031 See Details

• Want to view more deals? Become a BestCards member today!

Offer Details

×

Expires On:

How to redeem

Redeem Offer

About This Offer

Terms & Conditions

Please Note: The details of the offer(s) shown above should not be taken as a guarantee that you will receive the discount/rewards/offer mentioned above. Any information about combined offers and/or rewards should be taken as an estimate only. You may be responsible for completing certain steps at the merchant’s checkout page. Please read the merchant’s full terms and conditions for details.

Loading…

What Is a Secured Credit Card?

A secured card looks and acts in the same manner as any other credit card. The difference between a secured card and an “unsecured” card is that secured credit cards require a security deposit. Security deposits are a refundable payment to a lender that provides the collateral for a line of credit. Typically, that collateral is also the available credit limit.

Once an account is opened, the cardholder can use their secured card like any other credit card. They’ll receive the same purchase protection and security of an unsecured card. In essence, no one will be able to tell the difference. And, with regular on-time payments, they can quickly rebuild their credit.

Once a secured card account is closed, the account holder will receive their deposit back in full. If, however, they fail to pay off their balance, the issuer has the right to withhold some (or all) of the deposit to recover their losses.

Features of Secured Cards

Many secured credit cards have a few features in common. These include:

• Security Deposit: All secured cards require a deposit – typically starting around $200
• Annual Fee: Secured cards usually charge an annual fee. These can range from $25 to over $100, though First Progress features very competitive yearly charges.
• Report to Major Credit Bureaus: Most importantly, all secured cards report to the three major credit reporting bureaus: Equifax, Experian, and TransUnion. This regular reporting ensures that cardholders can quickly rebuild credit with responsible use of their card.

Who Can Benefit from a First Progress Secured Credit Card?

Who are secured cards designed for? First Progress credit cards are ideal for those who are new to credit. Those with no credit history at all often struggle to find a lender willing to take a chance on them.

For those individuals, secured cards provide a foothold into the world of credit. And, once they establish a strong credit history with regular payments, they can graduate to different types of unsecured cards, such as rewards credit cards.

Secured credit cards are also perfect for those in need of a credit boost. This includes consumers with previous financial troubles affecting their credit. Secured cards can also be useful to students who want to build a credit history, but aren’t ready to apply for an unsecured student credit card.

Common First Progress Credit Card FAQs