WalletHub Rating
3.5/5
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 and up to 1% cash back on purchases. 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.
WalletHub Rating Breakdown
User Reviews
3.4/5
3,830 reviewsRead and write reviews
Editor’s Review
3.3/5
John Kiernan, Credit Card EditorRead full review
Market Comparison
Market Comparison
3.6
The Market Comparison is a key component of the WalletHub Rating, as it measures how appealing the terms of a card are compared to a pool of over 1,500 credit card offers monitored by WalletHub. To ensure cards are evaluated for their most relevant purpose, we score each card across various cardholder needs and select the rating for the need with the highest score, which is “Rebuild Damaged Credit” for this card.
Fees
3.0
Rewards
5.0
Cost
3.2
APR
3.1
Other Features
4.3
3.6/5
Compared against 1,500+ credit cards
KEY TERMS
Accepted Credit Scores
Accepted Credit Scores
Fair Credit, Limited History, No Credit, Bad Credit
First Progress Platinum Select Minimum Security Deposit
$200
First Progress Platinum Select Fees
One-Time Fees→$0
Annual Fee→$39
Monthly Fee→$0
First Progress Platinum Select APR on Purchases
19.24% (V)
First Progress Platinum Select Rewards
Get a First Progress Select Card and Earn 1% Cash Back Rewards!
First Progress Platinum Select's Additional Info
Secure your credit line with your refundable security deposit - choose from $200- $2,000 - with the ability to increase up to $5,000 over time!
Choose the First Progress Select Card for a lower annual fee!
All credit types welcome to apply!
Build your credit history across 3 major credit reporting agencies: Equifax, Experian and TransUnion.¹
¹Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score.
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Apply Now
at First Progress' secure site
Editor's ReviewFact checked
Fact checked
John Kiernan, Managing Editor
September 12th, 2024
Fact Checked by Alina Comoreanu
Senior Researcher
First Progress Platinum Select Pros & Cons
Qualify with limited or no credit history
Relatively low security deposit
1% cash back on payments
Membership fees
High regular APR
Foreign fee
First Progress Platinum Select Review
3.3 / 5
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 and up to 1% cash back on purchases. 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. The First Progress Platinum Select card does not have a low APR either, 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 $22.22.
- 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: 19.24% (V). The average APR on a secured credit card is about 22.87%.
- Rewards: 1% Cash Back. The First Progress Platinum SelectCard rewards users with 1% cash back on all account payments. In other words, you get 1% back on all purchases but only after you repay First Progress for the charges. Most credit cards with rewards offer at least 1% back on purchases.
- Min Credit Score: None. Major approval requirements include being 18+ years old and having enough income to afford monthly payments.
If you’re wondering how the First Progress Platinum Select Mastercard Secured Credit Card compares to the other First Progress secured cards, there are a couple of key differences.
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.
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Compare The First Progress Platinum Select vs. Popular Alternatives
 First Progress Platinum Select Mastercard® Secured Credit Card |  Discover it® Secured Credit Card |  OpenSky® Plus Secured Visa® Credit Card |
|---|---|---|
3.5WalletHub Rating WalletHub Rating 3.5 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Rebuild Damaged Credit." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 3.3 User Reviews 3.4 Market Comparison 3.6 fees: 3.0 rewards: 5.0 cost: 3.2 APR: 3.1 Other Features: 4.3 | 4.7WalletHub Rating WalletHub Rating 4.7 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 5.0 User Reviews 3.7 Market Comparison 4.8 fees: 5.0 rewards: 5.0 cost: 5.0 Other Features: 3.0 | 3.9WalletHub Rating WalletHub Rating 3.9 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Rebuild Damaged Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 4.5 User Reviews 3.9 Market Comparison 3.9 fees: 5.0 rewards: 0.0 cost: 3.3 Other Features: 4.4 |
minimum deposit$200 | minimum deposit$200 | minimum deposit$300 |
one time fees$0 | one time fees$0 | one time fees$0 |
annual fee$39 | annual fee$0 | annual fee$0 |
monthly fee$0 | monthly fee$0 | monthly fee$0 |
Regular APR19.24% (V) | Regular APR28.24% Variable | Regular APR29.99% (V) |
rewards rate | rewards rate | rewards rate |
Sponsored Apply Now | Sponsored Apply Now | Sponsored Apply Now |
Questions & Answers
Can't find what you are 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 offer. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. In addition, WalletHub independently collected information for some of the cards on this page.
Most Popular
13
Upvotes
Is the First Progress Platinum Select card a good credit card?
Reply
13
14
Yes, the First Progress Platinum Select is a good card if you have bad credit. This card offers 1% cash back on all purchases, after paying the card’s bill. And helps you build your credit history by reporting to all three major credit reporting agencies. Like most secured cards, it does require an initial security deposit of $200 which becomes your credit limit.
The only downside the First Progress Platinum Select has is a $39 annual fee. You can find better asecured credit cards in the market without annual fees.
Alternative Secured Credit Cards With No Annual Fee
Best Overall:U.S. Bank Altitude® Go Visa® Secured Card
U.S. Bank Altitude® Go Visa® Secured Card
Learn MoreLearn More- High Rewards Rate:
U.S. Bank Cash+® Visa® Secured Card
U.S. Bank Cash+® Visa® Secured Card
Learn MoreLearn More - Cash Back:
Capital One Quicksilver Secured Cash Rewards Credit Card
Capital One Quicksilver Secured Cash Rewards Credit Card
Learn MoreLearn Moreon issuer's website - Customized Rewards:
Bank of America® Customized Cash Rewards Secured Credit Card
Bank of America® Customized Cash Rewards Secured Credit Card
Learn MoreLearn More - No Credit Check:
OpenSky® Plus Secured Visa® Credit Card
OpenSky® Plus Secured Visa® Credit Card
Learn MoreLearn Moreon issuer's website
- Best Overall:
U.S. Bank Altitude® Go Visa® Secured Card
- High Rewards Rate:
U.S. Bank Cash+® Visa® Secured Card
- Cash Back:
Capital One Quicksilver Secured Cash Rewards Credit Card
- Customized Rewards:
Bank of America® Customized Cash Rewards Secured Credit Card
- No Credit Check:
OpenSky® Plus Secured Visa® Credit Card
As you can see above there are many good secured credit cards with no annual fee available. These cards are a great way to start building your credit and eventually apply for one of the best unsecured credit cards.
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12
Upvotes
Can I get expedited shipping on my First Progress Platinum Select card?
Reply
12
8
WalletHub
@WalletHub
No, you cannot get expedited shipping on your First Progress Platinum Select card. However, First Progress does offer an optional Expedited Processing Service for $19.95. With the Expedited Processing Service your First Progress Platinum Select application will be processed up to 7 days faster. However, this service is only available if you use a debit or prepaid card to fund your security deposit.
The First Progress Platinum Select card is a fairly inexpensive card for people with no...
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10
Upvotes
How do I get a First Progress Platinum Select credit limit increase?
Reply
10
5
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...
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10
Upvotes
Does First Progress Platinum Select offer rental car insurance?
Reply
10
8
Chip Lupo, Credit Card Writer
@CLoop
The First Progress Platinum Select Card does not offer a rental car insurance benefit. Even though the First Progress Platinum Select Card doesn't have rental car insurance, this perk is one of the handful of credit card benefits that still come with many credit card offers. If you'd like a credit card with rental car insurance, there are plenty of options.
In general, credit card rental car insurance provides coverage against damage and theft of a rental vehicle, usually up to the...
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6
Upvotes
Is the First Progress Platinum Select a credit card?
Reply
6
5
Chip Lupo, Credit Card Writer
@CLoop
Yes, the First Progress Platinum Select Mastercard® Secured Credit Card is a credit card. The First Progress Platinum Select has an annual fee of $39, works wherever Mastercard is accepted, reports to the credit bureaus monthly, and allows you to pay off some purchases over time.
Still, it's important to note that the First Progress Platinum Select is a unique type of credit card called a secured card. Secured credit cards require a security deposit to open the account, and the amount of the deposit usually becomes the...
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5
Upvotes
Does First Progress Platinum Select do a hard pull?
Reply
5
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. .
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5
Upvotes
Can I go over my First Progress Platinum Select credit limit?
Reply
5
6
WalletHub
@WalletHub
No, 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 more funds to your security deposit.
The U.S. Bank Altitude Go allows an initial security deposit of $200 to $2000. So, you can...
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4
Upvotes
How do I cancel a First Progress Platinum Select credit card?
Reply
4
Chip Lupo, Credit Card Writer
@CLoop
To cancel a First Progress Platinum Select credit card, call customer service at 1 (888) 403-4783 and ask a customer service rep to cancel your card account. Cardholders can also cancel an account by mail.
Be aware that if there's a balance remaining on the canceled account, you are still required to make at least the minimum payment every month until the balance is paid in full. You will also need to update the payment method for any recurring...
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4
Upvotes
How long does it take to get the First Progress Platinum Select card with expedited shipping?
Reply
4
Robert Doyle
@robertdoyle18
First Progress does not offer expedited shipping for the First Progress Platinum Select, but they offer an optional Expedited Processing Service for $19.95.
With the Expedited Processing Service your secured credit card will be processed up to 7 days faster and is only available if you use a debit or prepaid card to fund your security deposit.
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3
Upvotes
How much is the First Progress Platinum Select foreign transaction fee?
Reply
3
Chip Lupo, Credit Card Writer
@CLoop
The First Progress Platinum Select Mastercard® Secured Credit Card foreign transaction fee is 3%. This means First Progress will add a 3% surcharge anytime you use the First Progress Platinum Select Mastercard® Secured Credit Card outside of the United States. The fee also applies to online purchases made through an internationally-based merchant.
To learn more, refer to our guide on foreign transaction fees and our editors' picks for the best credit cards without foreign fees.
2024 WalletHub Awards
First Progress Platinum Select Mastercard® Secured Credit Card is an Editor's Pick for:
Easiest Credit Cards to Get Approved For
Best Bankruptcy Credit Cards
Best No Credit Check Credit Cards
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Related Credit Card Categories
First Progress Platinum Select Mastercard® Secured Credit Card is related to the following categories:
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First Progress Platinum Select Reviews
Share your insights and review for the First Progress Platinum Select Mastercard® Secured Credit Card
5
25%
4
26%
3
25%
2
15%
1
9%
3.4
3,830 reviews
3,830 reviews
What's Your Rating?
Most Recent
Brian Webster
@brianw_175
1 Star Rating
Horrible experience. It's been over 2 months since I closed my account with First Progress and they STILL have not refunded my deposit. I had perfect payment history, never missed a payment, and didn't pay a penny of interest the entire time I've been a cardholder. They were extremely quick to take my initial deposit, but upon closing my account, they told me my deposit COULD take up to 70 days!!! To get refunded. COULD. Upon calling time and time again to get an update on my deposit refund, they then told me it WILL take 70 days. And if I wanted it any sooner, I would have to write them a letter explaining why I want my deposit sooner than 70 days. Are they for real?!?!? This has to be a joke, right? If I do not get my deposit back within the next 2 weeks, I will have no choice but to contact a lawyer and pursue legal action against them. Horrible predatory bank. Stay far away! Open sky, discover, capital one, are all MUCH better options than this predatory low budget bank who's cards don't even have a chip in them and look like something out of the early 90s.
Comment
Allen
@alienbeen2
5 Star Rating
Perfect starter card for someone that needs to build enough credit to qualify for a regular credit card! Payments are not as easy as some but it still works!
Comment
1
Pedro
@kingcapo121114
5 Star Rating
The Best card I've had without a doubt, they are very helpful and informative. And always available for help. I've had a lot of cards but none as flexible and low rates.
Comment
1
Ashley
@ashemaddox16
1 Star Rating
The card sucks. it is aggravating to pay the bill. It seems like it makes you jump through hoops just to pay the bill every month. And if your late on your payment they freeze your SECURED card and won't let you use your own money BS!!!
Comment
3
Christi
@christimpitt1
3 Star Rating
Closed 1st progress credit card Last month Do not need a prepaid credit card anymore. So has been closed and paid off, Wasn't worth the interest charges and fees
Comment
3
Brian Webster
@brianw_175
How long did it take for you to get your deposit back? Been over 2 months now and still have not received my $1000 deposit
Comment
Nicole
@nicoleg_104
5 Star Rating
Good customer service reasonable rates with the card, they are willing to work with you. Not hard to get in touch with so far it's been pleasant dealing with them and being a customer
Comment
2
Delores
@hamiltondelores237
3 Star Rating
I don't like this card would not advise anyone to get it. Doesn't help it is a hinder to your credit score. Look for another card ,this one isn't worth it.
Comment
3
Michelle K Gardner
@michellekimgardner
1 Star Rating
Awful. I pay my bill on time and they still charge me late fees. They don't have any way to pay online either-- You have to use bill pay via your bank or Western Union.
Comment
2
Adrien H
@ajordan2342
1 Star Rating
This is the worst card ever no matter how much you need a card choose another one, they take almost 3 weeks to process a payment ,then while your waiting for your payment to clear they charge you interest on your balance. Their customer service sucks like crap wallet hub should be ashamed of there self for promoting this card!!!
Comment
Brian Webster
@brianw_175
The card is unusable. Nobody takes that long to process a payment. They're a joke
Comment
Au Ve
@AuVe777
1 Star Rating
This is the worst credit card I’ve ever had. Not worth the trouble. The only way you can make payments to it is through online banking bill pay or sending the payment by mail which takes longer so by the time you send the payment, it’s late. They don’t have any apps and their website is not user friendly at all. I wouldn’t recommend anyone to get this card ever!!
Comment
Review First Progress Platinum Select Mastercard® Secured Credit Card
First Progress Platinum Select Mastercard® Secured Credit Card
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* The information about the following cards has been independently collected by WalletHub: Bank of America® Travel Rewards Secured Credit Card, U.S. Bank Cash+® Visa® Secured Card, Bank of America® Unlimited Cash Rewards Secured Credit Card, First Progress Platinum Elite Mastercard® Secured Credit Card, First Progress Platinum Prestige Mastercard® Secured Credit Card, Bank of America® Customized Cash Rewards Secured Credit Card, U.S. Bank Altitude® Go Visa® Secured Card, and U.S. Bank Altitude® Go Visa Signature® Card.
