For those who need a straightforward and guaranteed entry point into the world of credit, the First Progress Platinum Elite Mastercard Secured Credit Card is designed to be your key. This card’s most powerful feature is its accessibility; it requires no credit history and no minimum credit score to apply. It’s a tool built on a simple promise: if you can provide the security deposit, you can start building your credit today.
Get ready to take control of your financial narrative. The First Progress Platinum Elite is more than just a secured card; it’s a commitment to your future. By reporting your responsible payment history to all three major credit bureaus, this card helps you build the solid foundation you need. It’s a simple, effective, and direct way to begin your journey toward a stronger credit profile.
Core Features and Credit-Building Benefits
- No Credit History or Minimum Credit Score Required: This is the card’s standout feature. Your application approval is not dependent on a prior credit history, making it an excellent starting point for anyone new to credit or seeking a fresh start.
- Cash Back on Every Purchase: The First Progress Platinum Elite Mastercardx` Secured Credit Card offers 1% cash back on every purchase you make, giving you both credit-building support and a modest reward on your spending .
- Reports to All Three Major Credit Bureaus: Your payment activity is reported monthly to Experian, Equifax, and TransUnion. This comprehensive reporting is the most critical component for building a strong credit history.
- You Control Your Credit Line: Your credit limit is equal to your refundable security deposit, which you can set from $200 up to $5,000. This puts you in control of your credit line from day one.
- Full-Feature Mastercard: Enjoy the convenience and security of a real Mastercard, accepted for purchases at millions of locations worldwide, including for car rentals, hotels, and online shopping.
- Low Annual Fee: The Platinum Elite card has a low annual fee, making it a cost-effective option among credit-building cards.
- Mastercard® Zero Liability Protection: You are protected from unauthorized charges, so you can use your card with confidence for everyday purchases.
- Fast and Easy Online Application: The application process is simple and can be completed online in minutes, with a quick decision since there is no credit check.
Who Can Apply
The First Progress Platinum Elite Mastercard is designed to be one of the most accessible secured cards on the market. You can apply if you:
- Are at least 18 years of age.
- Are a U.S. resident with a valid physical address.
- Have a Social Security Number.
- Can provide a refundable security deposit of at least $200.
- Have a limited, poor, or even no credit history.
How to Apply
Getting started with the First Progress Platinum Elite is a simple, four-step process:
- Start Your Application Online: Visit the First Progress website to begin the secure application.
- Review the Terms and Conditions: Carefully read the cardholder agreement, including the annual fee and interest rates.
- Receive Your Approval: Since there is no credit check, you will receive a quick decision on your application.
- Fund Your Security Deposit: Once approved, you will need to fund your security deposit. This amount will become your credit limit, and your card will be mailed to you.
Frequently Asked Questions
- What makes this card different from other secured cards?
The biggest differentiator is the “no credit check” policy. Most other secured cards will still perform a credit check to look for major negative items like a recent bankruptcy. First Progress removes this step, making it one of the most surefire ways to get approved for a credit-building card. - What is my initial available credit?
Your initial available credit will be your security deposit minus the annual fee. - Does the First Progress Platinum Elite card earn rewards?
No, this specific card does not have a rewards program. Its primary focus is on providing an accessible, low-annual-fee option for building credit. First Progress offers two other secured cards, the Platinum Select and Platinum Prestige, which have higher annual fees but do offer 1% cash back rewards on payments. - Can this card be upgraded to an unsecured card later?
No, First Progress does not offer a path to “graduate” this secured card to an unsecured one. To get your security deposit back, you will need to close the account in good standing with the balance paid in full. This card is best viewed as a tool to build your credit score to a point where you can qualify for a traditional unsecured card from a different issuer.
