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First Progress Platinum Prestige MasterCard® Secured Credit Card


If you are having a hard time getting approved for credit try a credit card for bad credit, no credit or limited credit. Determine your own credit limit with a $200 up to $2,000 deposit. Rebuild credit with this secured credit card and improve your credit history.

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Advertiser Disclosure

Easy qualifying even with bad credit.

Reports monthly to the 3 major credit bureaus.

Low Monthly Payments and No Overlimit Fees.

Card Details

Credit Needed

This secured credit does not require a minimum credit score, so even if your credit score is below 500, you may still qualify. The annual fee is $44 and the APR is a variable 11.99 percent which is very competitive for a secured card. There is no monthly maintenance fee.

Benefits

This card provides an easy approval process. There are no rewards associated with this credit card but it is still a decent credit card. Unlike some secured credit cards for this card offers a grace period which means as long as you pay your balance in full each month, you do not have to pay any interest!

Deposit Required

Your security deposit must be a minimum of $200 up to a maximum of $2,000. You do not earn interest on your deposit so do not use it as a regular savings account. Avoid depositing more money in this account than needed to establish a credit limit. Your money is FDIC-Insured.

Reports to Major Credit Bureaus

Your payments are reported to all three major credit bureaus, Experian, Equifax and Transunion. A secured credit card that reports to the three major credit bureaus is essential to building credit.

Pros

This card provides an easy approval process. If you practice good credit management your score will improve. It gives you a chance to make timely payments while reporting to the credit bureaus monthly. Online management tools are available 24/7.

Credit Bureau Reporting

Cardholders will benefit from monthly credit bureau reporting which is the most important feature for a secured card because without this reporting, your credit history cannot improve. The issuer reports to all three major credit bureaus.

Cons

The annual fee is $44.

Tips to Manage New Credit

When improving your credit score make sure you keep your account balances low. Maintaining a low credit utilization ratio by using no more than 30% of your available credit limit can help improve credit scores.

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    Summary of Key Benefits:
  • No Credit History or Minimum Credit Score Required for Approval
  • 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
  • Nationwide Program though not yet available in NY, IA, AR, or WI
  • *See Card Terms.
The editorial content on this page (including, but not limited to, Pros and Cons) is not provided by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. The credit card offers that appear on this site are from credit card companies from which this site may receive compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers.

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