Review: First Progress Platinum Prestige Secured MasterCard

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If you have bad credit and you want to build your credit score, this card is worth your attention.

This post comes from Logan Abbott, editor of the credit cards section of

Ideally, you’ve always paid your bills on time and your credit score is excellent. However, sometimes circumstances change and you find yourself in a situation where your credit score is bad. In those situations, applying for a bad-credit credit card such as the First Progress Platinum Prestige Secured MasterCard can get you back on the right track toward good credit if you use it responsibly.


  • No credit checks or credit history required for approval. Unlike regular credit cards, the First Progress Platinum Prestige Secured MasterCard does not require a credit history or credit check in order to be approved.
  • Reports to the three major credit bureaus. The card reports to the three major credit bureaus — Equifax, TransUnion and Experian. This is crucial for rebuilding one’s credit score. Using the card responsibly and paying your bill on time will ensure that your credit score increases.
  • Fully featured credit card. Although this card is a secured card, it works just like a regular credit card. The card allows you to set your own credit limit between $300 and $2,000, depending on the amount of the security deposit that you place with First Progress.
  • 24/7 online account access. The card offers anytime access so you can check your account balance from any computer with an Internet connection at any time. This feature is not offered by all secured credit cards.
  • Low annual fee. The annual fee to use the card is $44. Many secured credit cards for people with bad credit feature higher annual fees.


  • Security deposit required. Because the card is a secured credit card, it requires a minimum deposit of $300. However, this isn’t a great disadvantage because all secured credit cards require monetary deposits in order to secure a credit line for the cardholder. The upside is that this deposit is refundable.
  • Not available in every state. Although the card is available to people in most states, it is not yet available to customers in New York, Iowa, Arkansas or Wisconsin.

Bottom line

Get it if: You have bad credit and are looking for a solid credit card in order to have a working credit card, as well as to improve your credit score.

Forget it if: Your credit is good.

Follow Logan Abbott on Google+

Note: While we attempt to be completely objective when reporting on credit cards, this site may be compensated by issuers when a reader applies for a credit card through the links within credit card stories or on our credit card search page. Also note that any terms, rates or other features described in this article can change without notice. Always double-check everything with the issuer before applying for any credit card.

Stacy Johnson

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