First Progress could be a great choice if your search is for a credit line with low interest rates. It is open to residents of all 50 US states. You can add up to $2,000 to your account and deposit $200. You can increase the amount of your deposit at any moment, but First Progress must be approved first. Once approved, you'll be automatically credited the deposit and receive a check within 10 weeks.
Low interest rates
First Progress Platinum Select Mastercard requires $200 as an initial deposit. It is possible to make additional deposits and can be used to increase your credit limit to $5,000. It's relatively affordable at $39 and helps offset the higher APR.
First Progress Platinum Select Mastercard offers a full-featured, low-interest card. The card is issued with a non-refundable security deposit, and it reports monthly to the three main credit bureaus. Your credit history will improve if all payments are made on time. After six months, your credit score will improve and you will be eligible for a second credit card.
No sign-up bonus
Consider the fees and options available to you when selecting a credit-card. First Progress offers the Platinum Prestige Mastercard(r) 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. The card also has a $29 late payment penalty if you fail to make a payment within six months.
While this credit card does offer no sign-up bonus and rewards, it is an excellent choice for people looking to improve credit scores. Although it doesn't come with a sign-up bonus, First Progress Platinum Select Mastercard Secured Card reports monthly payments to the major credit bureaus, which helps re-establish a good credit score and improve credit history. The First Progress Platinum-Series Mastercards offer $0 in fraud liability and continuous credit monitoring. This credit card accepts worldwide. The app can be used to manage your account online as well as on mobile.
There is no annual fee
The First Progress Platinum Prestige creditcard does not charge an annual fee. However there are some fees. If you are late with your first payment, you will be charged $29 A $40 surcharge will be added if you fail to make six payments consecutively. This is not a deal-breaker but something you need to be aware of before signing up.
First Progress is a card that doesn't require a credit check before approval. The issuer of credit cards will usually check your credit report with major credit bureaus before 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 doesn't conduct hard credit checks. This means that your credit score will not be affected. First Progress requires you to make a deposit as a security measure to guard against any defaults.
All 50 states offer this service.
First Progress secured credit card offers a revolving line credit based upon a security deposit. It has no minimum credit score requirement and is 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.
To apply for a First Progress secured card, applicants must provide basic identity information about their monthly income and financial obligations. They should also be able to provide a security deposit. First Progress will not perform a hard credit check, which can damage your score. The card issuer will not conduct an inquiry if you don’t have any credit history. Generally, the approval process takes up to three weeks. The security deposit serves to protect the lender in case of default.
No hidden charges
First Progress is a credit provider that offers fully-featured accounts along with a revolving loan line. This credit line is based on the security deposits. 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 full-featured. This card allows you to build credit and pay your bills on time. It also reports to all three credit agencies every month. After six months of timely payment, customers are eligible for a second credit card.