Accepted Credit Scores
Fair Credit, Limited History, Bad Credit
First Progress Platinum Select Mastercard® Secured Credit Card
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Existing Cardholders
- Issuer's Customer Service: 866-706-5543
-
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APRs |
REVIEWS
Q&A | CUSTOMER SERVICE INFO
Q&A | CUSTOMER SERVICE INFO
Existing Cardholders
- Issuer's Customer Service: 866-706-5543
-
Issuer's Online Account Management
Editor’s Take
John Kiernan, Credit Card Editor
July 21, 2021
Review: First Progress Platinum Select
The First Progress Platinum Select Mastercard® Secured Credit Card is a fairly inexpensive option for people with limited credit who want a starter credit card with high approval odds or people looking to rebuild damaged credit. For the price of the First Progress Platinum Select Mastercard’s $39 annual fee, plus a refundable security deposit of at least $200, cardholders get to add information to their three major credit reports each month. If the card’s monthly reporting to the big three credit bureaus details on-time payments and reasonable credit utilization, it will contribute to credit score improvement.
The First Progress Platinum Select Secured Mastercard does not charge a monthly fee or an application-processing fee, unlike some credit cards for bad credit. But First Progress Platinum Select does not offer rewards, either, in contrast to several credit cards for people with limited credit or lower – even some secured cards. First Progress Platinum Select does have a pretty low APR, but carrying a balance from month to month with a secured card is not wise. You’d basically be paying interest on a loan you gave to yourself, since your spending limit equals the amount of your refundable security deposit.
The bottom line is that the First Progress Platinum Select Mastercard® Secured Credit Card is a solid credit card for building credit that also happens to have some stiff competition. To help you decide whether or not to apply, we’ll summarize the Platinum Select Card’s most important features and shortcomings below.
First Progress Platinum Select Mastercard Review Highlights
The Platinum Select Card’s $39 annual fee is neither the highest nor the lowest of the bunch, falling between the fee charged by First Progress Platinum Elite Mastercard® Secured Credit Card and the First Progress Platinum Prestige Mastercard® Secured Credit Card's yearly fee. Similarly, Platinum Select’s APR is sandwiched between the rates assessed by Platinum Elite and Platinum Prestige. Other than that, the offers are nearly identical.
The First Progress Platinum Select Secured Mastercard does not charge a monthly fee or an application-processing fee, unlike some credit cards for bad credit. But First Progress Platinum Select does not offer rewards, either, in contrast to several credit cards for people with limited credit or lower – even some secured cards. First Progress Platinum Select does have a pretty low APR, but carrying a balance from month to month with a secured card is not wise. You’d basically be paying interest on a loan you gave to yourself, since your spending limit equals the amount of your refundable security deposit.
The bottom line is that the First Progress Platinum Select Mastercard® Secured Credit Card is a solid credit card for building credit that also happens to have some stiff competition. To help you decide whether or not to apply, we’ll summarize the Platinum Select Card’s most important features and shortcomings below.
First Progress Platinum Select Mastercard Review Highlights
- Annual Fee: $39. The average credit card charges $21.
- Monthly Fee: $0. This is standard for a secured card but still worth mentioning.
- Application-Processing Fee: $0. Some unsecured cards for bad credit charge this type of fee.
- Min Security Deposit: $200. You won’t find a secured card that guarantees a lower deposit requirement.
- Max Security Deposit: $2,000. Other popular secured cards have maximums ranging from $1,000 to $10,000.
- APR: 13.99% (V). The average APR on a secured credit card is about 17.75%.
- Rewards: None. Secured credit cards with rewards are not common.
- Min Credit Score: None. Major approval requirements include being 18+ years old and having enough income to afford monthly payments.
- Not Available In: 4 states – New York, Wisconsin, Iowa and Arkansas.
The Platinum Select Card’s $39 annual fee is neither the highest nor the lowest of the bunch, falling between the fee charged by First Progress Platinum Elite Mastercard® Secured Credit Card and the First Progress Platinum Prestige Mastercard® Secured Credit Card's yearly fee. Similarly, Platinum Select’s APR is sandwiched between the rates assessed by Platinum Elite and Platinum Prestige. Other than that, the offers are nearly identical.
This First Progress Platinum Select review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
July 21, 2021
First Progress Platinum Select's Key APRs & Fees
| ONE-TIME FEES
|
|---|
| None |
| ANNUAL FEE
|
| $39 |
| MONTHLY FEE
|
| None |
| REGULAR RATE
|
|---|
| 13.99% (V) |
| GRACE PERIOD
|
| 25 days |
First Progress Platinum Select's Highlights
| Receive Your Card More Quickly with New Expedited Processing Option |
| No Credit History or Minimum Credit Score Required for Approval |
| Quick and Complete Online Application; No credit inquiry required! |
| Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian |
| Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users! |
| Good for Car Rental, Hotels; Anywhere Credit Cards Are Accepted! |
| Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History |
| Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application |
| Just Pay Off Your Balance and Receive Your Deposit Back at Any Time |
| 24/7 Online Access to Your Account |
| Nationwide Program though not yet available in NY, IA, AR, or WI ** See Card Terms. |
| Get a fresh start! A discharged bankruptcy still in your credit bureau file will not cause you to be declined |
| Offer not guaranteed |
First Progress Platinum Select's Additional Info
| MAX LATE FEE
|
$40 |
|---|---|
| MAX OVERLIMIT FEE
|
None |
| MAX PENALTY APR
|
None |
| FOREIGN TRANSACTION FEE
|
3% |
| SMART CHIP
|
Yes, unknown |
-
CASH ADVANCE APR
19.99% (V)
-
CASH ADVANCE FEE
3% (min $10)
- Last updated on 7/21/2021
at First Progress' secure site
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First Progress Platinum Select Mastercard® Secured Credit Card is related to the following categories:
Customer Questions and Answers
Don't see what you're looking for? Submit your question about First Progress Platinum Select Mastercard® Secured Credit Card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card.
Who do I talk to if I have a question? Reply 16votes14votes
16
Upvotes
Is the First Progress Platinum Select card a good credit card? Reply 13votes12votes
Keyaira Sutton
@keykey
The First Progress Platinum Select is a good card If you have no credit or bad credit.
It helps you build credit history by reporting to all three major credit reporting agencies. With that said, like most secured cards, the Platinum Select does require an initial security deposit, which becomes your credit limit.
The only major downside I see is the annual fee. You can find better alternatives without annual fees, such as Discover it Secured and Capital One Secured.
In addition to no-annual-fees, the Discover offering has rewards in the form of cash back and the Capital One offering has the potential to be partially secured, meaning that your credit limit can be higher than your initial security deposit.
13
Upvotes
Can I get expedited shipping on my First Progress Platinum Select card? Reply 12votes8votes
WalletHub
@WalletHub
First Progress Platinum Select Mastercard expedited shipping is not available for free, but you can pay $19.95 for Expedited Processing Service when you apply. This can help you get your card up to 7 days faster.
Just bear in mind this service is only available if you use a debit card or prepaid card to fund your security deposit.
12
Upvotes
How do I get a First Progress Platinum Select credit limit increase? Reply 10votes5votes
WalletHub
@WalletHub
You can get a First Progress Platinum Select credit limit increase by calling (866) 706-5543. Keep in mind that the maximum credit limit you can have with the First Progress Platinum Select is $5,000 and because this is a secured credit card, the only way to get a higher spending limit is to add to your deposit.
Here’s some more info about your First Progress Platinum Select credit limit:
- Initial credit limit: Your initial credit limit will be equal to the amount of the deposit that you make with First Progress, which must be at least $200 and may not exceed $2,000.
- How to increase credit limit: You can ask for a First Progress Platinum Select credit limit increase every 6 months, by calling First Progress Platinum Select customer service at (866) 706-5543.
- Maximum credit limit: The maximum credit limit you can obtain over time is $5,000.
10
Upvotes
How does the First Progress Platinum Select rental car insurance work? Reply 10votes8votes
WalletHub
@WalletHub
Because it's a Mastercard, the First Progress Platinum Select has rental car insurance and you'll get the standard Collision Damage Waiver and theft coverage.
Of course, not all cars are covered, and you have to pay the whole thing with the card, but check the terms you got with your card or call First Progress at 866-706-5543 to see what's bundled.
10
Upvotes
I had none of these issues that I know of. I applied for it, was approved very quickly and now hve my card. What it will do for my credit score is yet to be determined but I will update asap. Reply 9votes10votes
Jack
@jackc_63
Did you pay for the expedited processing and if so how long did it take to receive your card
9
Upvotes
My money was taken off my personal card to fund the security deposit. Didn't receive a card nor email but my money is gone? Reply 8votes6votes
8
Upvotes
Is the First Progress Platinum Select card a credit card? Reply 6votes5votes
WalletHub
@WalletHub
The First Progress Platinum Select Mastercard is a secured credit card. The only difference between a secured credit card and a "regular" credit card is the fact that you are required to place a refundable security deposit that serves as your credit line.
So, to answer your question, the First Progress Secured Credit Card can be used like a regular credit card, not a debit card, and will report to the credit bureaus just like a regular credit card would.
6
Upvotes
Does First Progress Platinum Select do a hard pull? Reply 5votesvotes
WalletHub
@WalletHub
No, the First Progress Platinum Select doesn't do a hard pull on your credit when you apply for it.
Your application will only result in a soft pull, which won’t affect your credit score.
That being said, your chances of approval are good even if you have bad credit or no credit score at all. .
5
Upvotes
How can I go over my First Progress Platinum Select credit limit? Reply 5votes6votes
WalletHub
@WalletHub
You cannot go over your First Progress Platinum Select credit limit.
This is a secured card, which means the security deposit serves as your credit line. After exhausting your entire credit line, your future transactions will be denied until you pay your bill. In order to increase your credit limit, you will need to add to your security deposit.
5
Upvotes
First Progress Platinum Select Reviews
Share your insights and review the First Progress Platinum Select Mastercard® Secured Credit Card.
Jul 24, 2021
There has been no increase even though I pay on time every time. Each time I use it, put my usage high, do to no increase. No good
Comment
Jul 02, 2021
Verified Customer
They report late as heck it’s been more than 30 days with my balance at 0 but you wouldn’t know it dealing with these scoundrels.
May 06, 2021
Verified Customer
This card is easy to get and easy to keep track of. They report like clockwork . As long as your payments are on time this card will work perfectly for building credit.
Apr 19, 2021
Verified Customer
Hey so far it’s been okay It’s nice to have someone give me a chance so hopefully everything will work out in the long run and we can continue doing business together thank you, sincerely.
Apr 14, 2021
Verified Customer
It instantly shot my credit score up 62 points!!!!!! I have been trying my hardest to work on my credit for months so I decided a secured card was my only option and I chose first progress and lucky I did!!!!
Mar 25, 2021
All of a sudden , Here I am wishing that I somehow could be a time traveler of sorts . With those capabilities I would never ever never use this company along with Indigo’. They are the worst to may a payment to. Hmmmm I wonder why ?
Mar 08, 2021
Verified Customer
The only way to pay on this credit card is by using bill pay with your bank and you have to send a check. Makes it super inconvenient. Will be closing this card down asap
Mar 03, 2021
Verified Customer
Paid for my deposit and waited over 3 months before they told me that my card will be ready in another month. Waited on hold for over an hour to get through to someone to close my account.
Jan 14, 2021
It's just okay... they do make paying the monthly payments VERY difficult. Beyond the initial deposit, you have to either figure out a way to send a check or pay an obscene fee ($10) to pay with an agent and have them apply the payment BEFORE the next one is due.
Oct 04, 2020
I will never again use this insurance agency I would not recommend it to anyone! Massive deductibles I took a massive loss after a storm and decided to cancel both policies because I was so angry. They continue to charge me, and when I called them back I had to demand three separate times after they talk to the manager to cancel and get my money back they still owe me one payment and only after threatening legal action did they finally cancel it this is not how business is done never again!… show more
Sep 27, 2020
Verified Customer
I think it’s a very good deal for people who really need a regular credit card and these days everyone needs a credit card so I say good job and I look forward to working with you I will not let you down
Jun 05, 2019
Applied for a secured card to re-establish credit, I mean why else does anyone need a secured cc. I am currently in Chapter 13 and will be for the next 4 year when it discharges. Nothing in my application ask or even hinted that they would not approve if you're in bankruptcy. If it would have, I would not have applied. Don't Apply if you're in Bankruptcy or have been in the last 90 days.
Jan 11, 2018
Verified Customer
I've had this card since March of 2017. Opened a $200 secured card and so far it has improved my credit. I've set up automatic payments with my bank and only use it when I actually need to..which is never. It's accepted everywhere like a regular credit card.
Sep 01, 2017
Worst card to get they tell you one thing and it's different. We close our account since feb 2017 and they are still semi good bills on my account for late fee on they feed that were applied after the account wes closed everything I call to get a manager I get disconnected and the disputed departure is only by snail mail
Jun 12, 2017
Estimated my card would take a month or more to come to me, so i canceled it then they tell me it wi take up to ten days to get you refund who does that they think because you are in a hard situation they can use you money as they please
Jun 09, 2017
Horrible service and just a starter card. Nice people but Nothing online. Only through the mail. If you like paper get this but it's a great starter card.
Nice people but you can't see your balance or pay online.
Nice people but you can't see your balance or pay online.
May 11, 2017
Wow! lots of pros and cons?! must be confusing to new applicants. I've been a First Progress member for 6 months now and have not had a problem. Thank You Jesus!!!! Hope there will never be one. My credit score went up, no delivery issues, customer service is ok and card only declined when renting a car. It's why I had a backup.
Jan 19, 2017
I think this company should be shut down. They are predetory. Please read the reviews. I did and still applied. They do not have a quick process for the fee. They are only quick to take your money. I learned my lesson.
Dec 15, 2016
I've had no problems and I've had it for almost a year. My limit is $300. I use it a lot, even maxxing it out probably once a month, but I constantly send payment online through my AmEx prepaid card (that's where my paycheck is direct deposited) so I've never missed a payment. It has increased my credit score with both 100% payment history and age of credit history. ALSO (AND THIS IS IMPORTANT) I know that they report to the credit agencies at the end of every month, so by the 23rd of every month I make sure that my balance is under 10% because if I go over that it brings down my score. After 6 months I qualified for a Capital One Platinum Mastercard with $300 limit, after 9 months I got a Fingerhut card with a $500 limit, and after 10 months, I got a Crate & Barrel card with $2000 limit. I have no complaints. I started with a score of 550 last year and I'm at 650 now.… show more
04/30/20
Did you know that Fingerhut and Crate & Barrel 'type' cards (any card that is NOT a major credit card - Visa, Mastercard, etc...) doesn't improve your credit score regardless if it is reported to the credit bureau or not? I learned this through a building credit counciling class through my attorney when I filed BK on how to rebuild credit. The quickest and fastest way to rebuild credit scores is to only have 3 Major Visa/Master credit cards (secured or otherwise) that report to all 3 credit agencies. Then charge no more than $25 per month on each card and pay them off every single month.… show more
Nov 21, 2016
This is by far THE WORST card ever and possibly a link to Identity theft! I sent in 300 dollars plus 29 dollars for the fee. After waiting TEN DAYS I called to get status. I was told a "letter" had been MAILED to me stating they needed "Proof of my identity" even though I used my American Express Crad to send deposit! Finally the card arrived and I began to use it. After a few charges and a few ATM withdrawals the card stopped working When I called to inquire I was told there was a "security hold" on the card because I did "too many ATM withdrawals" and they needed proof of my identity AGAIN! So I AGAIN faxed my Drivers' License copy, my Bank Statement AND my phone Bill which I had already faxed initially! I was THE TOLD they need a copy of my Social Security Card since my address on my Drivers' license didn't match my Bill address. Never did they ask for proof of income but wanted my Social Security Card! I cancelled the card and they're keeping the annual fee! THIS CARD IS A RIP OFF!… show more
May 24, 2016
Applied, waited after approval...no card. Called. Told to fax documents. Done. No card. Called again. Told card was in the mail. Two weeks later. No card. Called 10 times in one day and message said "all of our agents are busy. Call again later"...all day???? Now going to report to BBB. The idea was to improve credit for home purchase. This process started over a month ago and no card still. Just gave them my money for nothing. Not ok.… show more
Feb 10, 2016
Took the deposit without delay, then delayed the application for two months, continuously asking for more and more bank statements, account numbers, drivers license, utility bills, and seemed to have an issue distinguishing my PO box from my home address. Got numerous calls from "representatives" who didn't leave names, and when I'd call back the same number, it wasn't First Progress, it was an unrelated mortgage company. Impossible to reach anyone via email or login to their site. No one ever seemed to know what I was talking about. Said they sent my $300 deposit back, my bank says no they did not. Having to pursue this refund through my bank now. Reported to Credit Karma, as they appear to be preying upon those with poor credit. Huge waste of time and money, do not even bother with this nightmare company. Nothing about them seemed legit after they got their deposit.… show more
Dec 14, 2015
This company is fraud; I figured their scam on august 24 2015 and closed my account after being scammed three times three months in a row. Since it was obvious that these crooks will end up scamming me; I requested in writing a document to prove my account has been closed; with five requests calls and faxes; I was able to the original document to show my account was closed. Though those fraud people did send me the letter; still the fight was on for me to get my $2000 security deposit refunded. Though my account was paid in full and I had a document in writing to prove so; the scum racket outfit lied to me for 90 days until I put pressure on them to get my money back. 92 days of pleading, faxing and calling; I finally got $1,870 less $130 these scum scammed me. Adding gas to the fire they reported me late in November though my account was closed in August and documented by them. As a result of fraud reporting by First Progressive Card; my score went down from 712 to 662 which put my business, pending mortgage app and biz affairs all at risk. I was forced to hire a professional credit company to assist me in clearing my credit; and retain an attorney to go after these scum. I am seeking help from the state attorney’s office and pursuing full investigation of this racket outfit I have created a webpage for other victims of this scam and pray no one goes through what these people did to me. I am very lucky I had that one document to prove my case; rest assured I will not rest until these guys are closed. BBB I respect your company and trust that you will help me going after these cowboys; we need to end this fraud and help victims of these bandits.… show more
Oct 03, 2015
This card is great for people with bad credit. I selected the apply now fund later option with expedited processing and my credit score went up 50 points. I dont know why everyone is complaining about a 10 day hold period. If your paying your bill and then using the card right away your not building credit responsibly.
Sep 05, 2015
Terrible customer service. If you can avoid them please do. I lost my card and called for a new one and they told me it would be here within 7 to 10 days. 10 days came and I called another customer service rep. He told me that it was sent out and should be there no later than the following day. The following day came and still no card. Called customer service again and now they have no clue why I was told that and tell me that the request to mail a new card was never put in! It shows I called and requested it but no one sent it. What a joke!… show more
Sep 01, 2015
This Company screwed up the mailing of my statement, and had no other way to notify me of how much I had to pay. Fast forward to when they finally set up online statements, and they had reported the late payment even though they HAD MY MONEY TO PAY IT.
And now, after I made the payment, I have to wait another MONTH to get a loan, because they have no ability to send a zero balance statement short of the regular mothly statements.
Disgusting customer service to save them money, When its ALREADY a secured credit card. And then they report to the credit beuraus even when they have YOUR CASH on hand to pay the balance. Insane.
And they call themselves a company to rebuild your credit. More like another shark to prey on those who have problems managing money or have fallen on hard times.… show more
And now, after I made the payment, I have to wait another MONTH to get a loan, because they have no ability to send a zero balance statement short of the regular mothly statements.
Disgusting customer service to save them money, When its ALREADY a secured credit card. And then they report to the credit beuraus even when they have YOUR CASH on hand to pay the balance. Insane.
And they call themselves a company to rebuild your credit. More like another shark to prey on those who have problems managing money or have fallen on hard times.… show more
Jun 26, 2015
How can I forget my First Progress secure card. While I was rebuilding my credit, this card became so handy to me. They do report to all three credit agencies and that matters quite a bit. I had other secure cards, where my progress was not reported on a timely matter.
I opened my First Progress account with a mere $100 and kept increasing my limit as time went on. Eventually, after 1 year, I received my security deposit back. One thing I did not like about this card was the annual fee, but at the time I did not have many other options.
Overall, I would recommend this card to anyone who is trying to improve their credit score.… show more
I opened my First Progress account with a mere $100 and kept increasing my limit as time went on. Eventually, after 1 year, I received my security deposit back. One thing I did not like about this card was the annual fee, but at the time I did not have many other options.
Overall, I would recommend this card to anyone who is trying to improve their credit score.… show more
07/21/15
Please explain to me how th is works before I spend my money im new to the whole experience ad am trying tp figure out if I put 300$ deposite what is my limit how does the funding work???help
Jun 02, 2015
I love this card!!! Bcuz I have never had a issue with them. And I can use it everywhere and not have issues.. Thank u first progress
07/21/15
Please explain to me how th is works before I spend my money im new to the whole experience ad am trying tp figure out if I put 300$ deposite what is my limit how does the funding work???help
Mar 27, 2015
TERRIBLE! I guess the question is 'HOW DESPERATE ARE YOU? I missed the date to send in a payment, and the late fee was $26.00!!!! First time late. The account was mere months old. Then I was told I had to wait 70 days to get my deposit money bank when I closed the account. They said I could dispute that 70 days by sending the card cut up back and a fax requesting a sooner return. Two days trying to send the fax, UNBELIEVABLE STRESS OVER THIS CARD!… show more
08/03/15
From what i understand....you put a $300.00 deposit down and that becomes your credit limit....you use the $300 you pay back the $300 ( or whatever the min payment is) and as long as you have perfect payment history after 1 year your deposit is mailed back to you...but your card is still active and you still have a credit limit of whatever your deposit is. I also understand that you can choose to increase your limit by adding additional monies to your deposit… show more
07/21/15
Please explain to me how th is works before I spend my money im new to the whole experience ad am trying tp figure out if I put 300$ deposite what is my limit how does the funding work???help
Mar 19, 2015
I recently applied for this card a month ago . I call customer service and the rep tells me the card got sent back because of the address ok . I called and made sure it was correct . And its was correct. So the card that I got sent back there resending it again 7-10business days .. so today I go to my mail box .and find a credit xard statement saying I have a due date . Second time calling them . It was worst from the first time. I got a statement and never got the card. . Incorrect address sooooo how did the credit statement get her before the card . WTF… show more
07/21/15
Please explain to me how th is works before I spend my money im new to the whole experience ad am trying tp figure out if I put 300$ deposite what is my limit how does the funding work???help
Mar 11, 2015
I have really enjoyed my card. The great thing about it is that you do not have to have your credit score accessed and its a great way to build secured credit. It is very important that you are aware of the benefits and the disadvantages of this card before applying for it. As long as you have done that you will be just fine. There are several poor reviews concerning there customer service but that has not been my experience. The company is very prompt, efficient and diligent when it comes to satisfying all of my customer service requests.… show more
Feb 11, 2015
Compared to other First Progress Platinum Credit Cards the Platinum select has a medium APR percentage that should be noted from the start, you are not getting the lowest APR with this card out of other First Progress cards. For me this is a big deal, however if you have good money management and understand how situations work this card is not all bad.
PROS:
There is no minimum credit score to apply. That is right if your brand new to credit and credit building you have nothing to worry about when applying in fact I encourage you to apply to a no minimum credit score than a card that requires a minimum if you do not have credit already established.
Credit history is not required. This kind of goes in hand with the no minimum same approach applies here.
Initial credit limit if accepted can be as high as $2,000. Now this is great for someone that is just establishing credit like myself. $2,000 is enough to cover the expenses you think you may fall behind on or can't pay until your next pay cycle or whatever your situation is. This amount is also not difficult to recover from if you have exhausted the entire credit limit and you will recover. Some people take their entire life to pay off say student loans or mortgages, though they are completely different from the particular credit card the point is that $2,000 in debt is not the end of the world. Especially if you are working like I am it should take no longer than 2 years to complete payments on a debt like that.
Sadly that sums it up on the pros for me.
CONS:
You must maintain a security deposit of at least $300 in a non-interest bearing deposit account at synovus bank as a condition of getting your account approved. This is not necessarily put in front of your face to know, you have to read the fine print when it comes to stuff like this and this is a hit or miss for some but for me to comes out as a con for the simple fact that this isn't presented to you in plain sight.
APR is 14.99% though it may vary this is not the lowest APR for First Progress credit cards. Even worse, for cash advances APR is 19.99%, worst case almost 20% APR is not a good look and can add up if your money management is not on point.
Penalty fees are expected from a credit card vendor, I look at for example an overdraft fee from a regular checking account. Late fees can be up to $37.00. Annual fee comes to be $39.00 a year, though this is not a penalty fee I consider it one because this is basically paying a full membership on top of your APR.
VERDICT:
Clearly, the cons outweigh the pros in this situation. I believe if you are brand new this card is not bad to have as long as you can practice and discipline money management this is very important. If you are someone with established credit, there are so many other better choices and this is not the card for you.… show more
PROS:
There is no minimum credit score to apply. That is right if your brand new to credit and credit building you have nothing to worry about when applying in fact I encourage you to apply to a no minimum credit score than a card that requires a minimum if you do not have credit already established.
Credit history is not required. This kind of goes in hand with the no minimum same approach applies here.
Initial credit limit if accepted can be as high as $2,000. Now this is great for someone that is just establishing credit like myself. $2,000 is enough to cover the expenses you think you may fall behind on or can't pay until your next pay cycle or whatever your situation is. This amount is also not difficult to recover from if you have exhausted the entire credit limit and you will recover. Some people take their entire life to pay off say student loans or mortgages, though they are completely different from the particular credit card the point is that $2,000 in debt is not the end of the world. Especially if you are working like I am it should take no longer than 2 years to complete payments on a debt like that.
Sadly that sums it up on the pros for me.
CONS:
You must maintain a security deposit of at least $300 in a non-interest bearing deposit account at synovus bank as a condition of getting your account approved. This is not necessarily put in front of your face to know, you have to read the fine print when it comes to stuff like this and this is a hit or miss for some but for me to comes out as a con for the simple fact that this isn't presented to you in plain sight.
APR is 14.99% though it may vary this is not the lowest APR for First Progress credit cards. Even worse, for cash advances APR is 19.99%, worst case almost 20% APR is not a good look and can add up if your money management is not on point.
Penalty fees are expected from a credit card vendor, I look at for example an overdraft fee from a regular checking account. Late fees can be up to $37.00. Annual fee comes to be $39.00 a year, though this is not a penalty fee I consider it one because this is basically paying a full membership on top of your APR.
VERDICT:
Clearly, the cons outweigh the pros in this situation. I believe if you are brand new this card is not bad to have as long as you can practice and discipline money management this is very important. If you are someone with established credit, there are so many other better choices and this is not the card for you.… show more
Dec 24, 2014
Do NOT get this card! Yeah its a way to start your credit but there are no customer service agents Imagine that? NO where to call and talk to someone. I'm trying to set up my online act and it wont take my security phrase which is mothers maiden name that they make you give when applying. So..no access. It doesnt work and NO ONE to talk to. They say write a letter and snail mail it in. Yeah. Just as SOON as I can get another card I am closing this one. It's complete CRAP.… show more
Nov 01, 2014
First Progress is terrible. I have been using the card for several years. I was in the habit of paying them through their online check payment system. Today, I went to make my payment online to avoid paying late. It would not work. Their website appeared broken with no message telling why. I had to call customer support which informed me that this 'feature' was no longer available. No warning was given to me that this would be discontinue. I think they have a hidden agenda of making their customers pay late. Over a month ago, they sent me two new cards due to some sort of security breach on my card. I activated one of the cards, only to find out that it would not work. Later, I was informed that the other would work instead. Using their card service has became a hassle I do not want to live with any longer. Also, they do not offer any email address for customer service issues. I have been a good customer and have used the card often. They have never offered me a regular unsecured credit card as a reward for paying on-time and improving my credit score greatly. Therefore, I choose to take my business elsewhere. First Progress is an aweful card service company.… show more
Oct 23, 2014
Worst card EVER!!!!!! The customer service is pretty much non existence. They are just horrible.... Then on top of that it seems every time i did call i was placed on hold or the phone just "magically" disappeared. And they always direct you to mail... not EMAIL but postal service mail customer service. The interest rate DRASTICALLY increase. This is suppose to be a starter card to establish or reastablish credit but what it is is just damn near loan shark, title pawn status. Hell for how they treat you and charge interest you might be better off taking a loan from big tony in the back of a wine cellar warehouse. DO NOT USE/APPLY for this card. They blow big baby chunks. I would seriously encourage and suggest NO ONE to apply or get this card. This could easily be one of if not THE worst card company there is out there. I repeat do not use or apply for this card. It would be a mistake of epic proportions. There are better options out there including many secured credit cards. Many to which are being offered by your local banking institutions. Many credit unions also offer credit cards for people who are trying to establish or reastablish there credit score.… show more
Sep 19, 2014
Do NOT bother with this card, I've had it for almost three years and the just NOW 9/19/2014 took away the online payment option so you HAVE to mail a check or use billpay which takes longer. This card is for rebuilding credit, you need faster payments to do that to show up in time otherwise it goes against you. There is no email or real phone number for customer service, the number on the back of the card is for mastercard only. You have to write a letter if you want anything done. Forget it, go with creditonebank card or first premier. This card in the three years I've owned it has never raised my credit limit and there's no option to just add more to do so. Creditonebank raised my limit after 4 months.… show more
Jun 18, 2014
Absolutely ABYSMAL.
Deposit $400
Annual fee: $35
Mailed CC to wrong address.
Allowed unauthorized person (presumable without any info of mine) to activate card.
Sent a late notice.
Reported card stolen.
2 months later...they sent a check for $330...citing late fees for charges I didn't make on a card I never received.
Additionally, since a month went by before I was aware they sent the card to wrong address they gave my otherwise flawless credit score it's only 30-day-late...on a secured card which I didn't receive.
Phoned in to discuss the above, where I was told they can only address this by physical (not electronic) mail.
I paid money for a product/service I never received...only to have them erroneously damage my credit and refund me 3/4ths of what I initially paid.....5 months of arguing later.
So in short, no, not a good company.… show more
Deposit $400
Annual fee: $35
Mailed CC to wrong address.
Allowed unauthorized person (presumable without any info of mine) to activate card.
Sent a late notice.
Reported card stolen.
2 months later...they sent a check for $330...citing late fees for charges I didn't make on a card I never received.
Additionally, since a month went by before I was aware they sent the card to wrong address they gave my otherwise flawless credit score it's only 30-day-late...on a secured card which I didn't receive.
Phoned in to discuss the above, where I was told they can only address this by physical (not electronic) mail.
I paid money for a product/service I never received...only to have them erroneously damage my credit and refund me 3/4ths of what I initially paid.....5 months of arguing later.
So in short, no, not a good company.… show more
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Last updated on: Jul 21st, 2021 at 18:56 ET
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WalletHub is an independent comparison service.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not the issuer’s responsibility to ensure all posts and/or questions are answered.
Offer last updated: Jul 21st, 2021 at 18:56 ET