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. This credit card is available to residents of all 50 states. There is a $200 non-refundable deposit. You can also add up to $2,000, if needed. The deposit can be increased at anytime, but First Progress must first approve. After approval, your deposit will be automatically credited and you will receive a check in 10 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.
First Progress Platinum Select Mastercard offers a full-featured, low-interest card. The card comes with a refundable security deposit. It also reports monthly to all three major credit bureaus. Your credit history will improve if all payments are made on time. Plus, you'll be able to upgrade to a second credit card after six months of on-time payments.
There is no sign-up bonus
It is important to be informed about the various options and fees when choosing a credit card. First Progress offers the Platinum Prestige Mastercard(r), a secured card. This credit card charges a $10 cash advance fee when you use the card to withdraw cash. The card also charges a 3% foreign transaction fees. A late payment penalty of $29 can be applied to the card if it is not paid within six months.
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 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. The First Progress Platinum-Series Mastercards offer $0 in fraud liability and continuous credit monitoring. This credit card is worldwide accepted and can be managed online and via mobile app.
No annual charge
Although there is no annual fee with the First Progress Platinum Prestige credit card, there are other fees associated with this card. If you delay your first payment, for example, you may be charged up $29 If you miss more than six payments in a row, you'll have to pay an additional $40. This is not a deal-breaker but something you need to be aware of before signing up.
First Progress is a credit card that doesn't require you to submit a credit score before they approve your application. Most credit card issuers will review your credit reports with the major credit bureaus when you apply. This is called a hard inquiry, and it can lower your score by a few points and stay on your credit report for two years. First Progress doesn’t do hard credit checks. Therefore, your credit rating will be safe. 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. It has no minimum credit score requirement and is accepted in most countries. Foreign transaction fees are included in the $29 credit card fee. Customers can apply online to receive their credit card in two to three days.
To apply for First Progress secured cards, applicants need to provide basic information about themselves and their monthly income. They should also be able to provide a security deposit. First Progress won't conduct a credit check on you, which could damage your credit score. Also, the card issuer may not ask for 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 Credit Card Provider offers full-featured credit cards that include a revolving credit limit based upon the security deposit. Customers who sign up for the card must have a bank account, which saves them the expense of using separate payment vendors. Another benefit is that customers can pay their monthly bills via their bank account.
The First Progress Mastercard Credit Card is full-featured. This card allows customers to open new credit and make timely payments. It also reports to each of the three credit bureaus every monthly. After six months, the company offers its customers a second credit line.