Tag: First Progress Mastercard

First Progress Platinum Prestige Mastercard Secured Credit Card: A Comprehensive Overview

The First Progress Platinum Prestige Mastercard Secured Credit Card is an excellent option for individuals looking to build or rebuild their credit history while enjoying some valuable benefits. Issued by First Progress, this secured credit card operates with a focus on helping consumers who may have limited or damaged credit history. Below, we cover essential details about the card, making it easier for you to decide if it suits your financial needs.

Card Type

This card falls under the category of secured credit cards. Unlike traditional unsecured credit cards, secured cards require a security deposit that typically serves as your credit limit. This feature is particularly beneficial for individuals who are new to credit or those looking to improve their credit scores after financial difficulties.

Annual Fee

One of the attractive features of the First Progress Platinum Prestige Mastercard Secured Credit Card is that it comes with no annual fee. This aspect is essential for consumers who are mindful of additional costs associated with credit card ownership.

Rewards Program

The rewards structure of the First Progress Platinum Prestige card distinguishes it from many other secured credit cards. While specific rewards are not its primary feature, cardholders can earn rewards on purchases made with their card. Typically, these rewards can be redeemed in various ways, depending on the issuers guidelines, although details are less prominent compared to unsecured cards in the market.

Sign-Up Bonus

Unlike many unsecured credit cards, the First Progress Platinum Prestige Mastercard does not offer a traditional sign-up bonus or promotional offer for new cardholders. Given its nature as a secured card, the primary focus is on obtaining a credit line rather than incentive rewards associated with extensive spending.

APR (Annual Percentage Rate)

The regular APR for the First Progress Platinum Prestige Mastercard is competitive, typically around 9.99%. The card often does not feature an introductory APR offer, which is common in unsecured credit cards. However, having a low APR can significantly benefit cardholders who may carry a balance from month to month.

Foreign Transaction Fees

This secured credit card is beneficial for international travelers as it does not impose foreign transaction fees. This means that when making purchases abroad or using the card in foreign currencies, you wont incur additional charges, making it an excellent choice for those who travel frequently.

Balance Transfer Options

Currently, the First Progress Platinum Prestige Mastercard Secured Credit Card does not offer any promotional balance transfer options such as 0% APR transfers. Hence, it mainly serves as a tool for building credit rather than managing existing debt through transfers.

Additional Fees

While there are no annual fees associated with this card, its essential to be aware of other potential fees, including late payment fees, which can be up to $39, and cash advance fees, which may range from $5 or 3% of the amount of each cash advance, whichever is greater. Managing payments effectively can help cardholders avoid these fees.

Card Benefits and Perks

The First Progress Platinum Prestige Mastercard Secured Credit Card provides key benefits like reporting to all three major credit bureaus (Experian, TransUnion, and Equifax). This reporting is crucial for individuals looking to rebuild their credit history. However, it does not offer traditional perks such as travel insurance or airport lounge access typically found in premium credit cards.

Customer Protections and Insurance

Cardholders are provided with vital protections including zero fraud liability, meaning that you wont be held responsible for unauthorized charges made with your card. Additionally, there may be purchase protection for eligible purchases made with the card, offering peace of mind when shopping.

Eligibility and Credit Score Requirements

As a secured credit card, the First Progress Platinum Prestige Mastercard is designed for individuals with limited or poor credit scores. There are generally no strict credit score requirements, making it accessible for those looking to improve their financial situations.

Introductory Offers

Currently, this card lacks any introductory offers like a 0% APR period. Instead, it focuses on straightforward credit-building opportunities, making it ideal for individuals following a strategy aimed at repairing their credit.

Special Features or Unique Selling Points

One of the advantages of the First Progress Platinum Prestige card is its flexibility in deposit amounts; cardholders can secure their card with a minimum deposit that can range from $200 to $2,000. This feature allows individuals to tailor their credit experience to their financial capability.

How to Apply

Applying for the First Progress Platinum Prestige Mastercard Secured Credit Card is a straightforward process. Interested individuals can apply online through ‘>Apply Here or exploring more with UpCube.net.