First Progress Platinum Elite MasterCard® Secured Credit Card Review

 Card Stats:

first progress platinum eliteMinimum Security Deposit: $200
Maximum Security Deposit: $3,000

Interest Rate: 19.99%
Introductory Interest Rate: None
Grace Period: 25 days
Foreign Transaction Fees: Not listed
Annual Fees: $29
Application Fees: None
Rewards Program: None
Signing Promotion: None
Interest Earned on Security Deposit: No

Other Features:


Editor’s Review

This review was provided by William Charles, editor of Doctor of Credit. 

First progress is built around the idea that their products will help consumers to rebuild their credit. Unfortunately they offer one of the worst secured credit cards on the market and rather than helping individuals with bad credit – they actually pray upon their vulnerabilities to make a profit with higher than average fees.

Annual Fees

This card has a massive $29 per year annual fee (compared to other secured cards with no annual fee).


This card has an APR of 14.99% which is on the lower side of the APRs offered for secured cards. That being said, card holders should not be carrying a balance as they will be wanting to improve their credit history and as such shouldn’t be making purchases unless they can pay them in full.

Rewards Program

This card doesn’t offer a rewards program at all. Here is a full list of secured cards with rewards programs.

Credit Reporting

This card reports to all three credit bureaus (TransUnion, Equifax & Experian). We’re currently unsure as to whether it reports as a secured card or not.

Adding Funds

Funds can be added to the security deposit of this card, this will increase the credit limit available. We’re unsure if this is a hard or soft pull to add funds.


First progress doesn’t seem to graduate their cards to an unsecured product (we couldn’t find anybody that was graduated to an unsecured card).


This card is accessible to most applicants, but if you have a bankruptcy on your credit report you will be denied.

Final Verdict

This is one of the worst secured credit cards on the market. There is literally no reason to apply for this card. If you have bad credit and you’re looking to rebuild with a credit card, we suggest looking at our list of best credit cards.

Apply for First Progress Platinum Elite MasterCard® Secured Credit Card

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How do i go about making my credit limit higher. My credit limit is only $200, i want to make it more.


You have to wait 6months ten I believe you have to call them

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