First Progress Platinum Select Mastercard Secured Credit Card

Robin Saks Frankel  in  Credit History How we rate our cards  |  Advertiser Disclosure
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A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

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Annual Fee:
Purchase Intro APR:
Regular APR:
13.99% (Variable)
Terms and Restrictions Apply

Bankrate Rating

If you’re in the sort of credit history bind where a secured credit card that doesn’t care about your FICO score is the only option, this could work for you. But if you can qualify for something better without a fee, go for that instead.


If you messed up your credit, or you’re just starting out, the First Progress Platinum Select Mastercard Secured Credit Card is an OK way to build up your credit profile as long as you use it responsibly. It’s low interest rate is unusual for a secured credit card, and is even better than a lot of unsecured cards.

Like most secured cards, your credit limit is determined by the size of your security deposit, from $200 to $2,000.

Also like most secured cards, there are a lot of potential fees associated with this card, from the $39 annual fee — which, admittedly, isn’t terrible as far as secured card fees go — to late fees and foreign transaction fees.

There’s no minimum credit requirement, which means your financial past won’t be held against you. Like all secured credit cards, if you use this one sparingly and pay on time you can give your credit rating a lift and get on track toward the goal of getting an unsecured card.

There are two other iterations of this card worth considering. Both the Platinum Prestige Mastercard Secured Credit Card and the Platinum Elite Mastercard Secured Credit Card offer the same features but have different annual fees and APRs.

The Platinum Prestige charges a $49 annual fee and has a 9.99% variable APR; the Platinum Elite has a $29 annual fee and a 19.99% variable APR. If you don’t carry a balance, the Platinum Elite might be a better choice, but if you occasionally do, it may be worth it to pay a little more in exchange for an ultra-low APR.

Who should get this card

Anyone with a thin credit file or less than stellar credit history, may want to consider this card to build up their credit profile.


  • There’s no minimum credit requirement to qualify for this card.
  • Late payments won’t affect your APR but you will have to pay a late fee of up to $40.
  • This card won’t gouge you with unnecessary fees, and the interest rate for a secured card is pretty good.


  • It takes up to 10 days for payments to show as deposited to your account.
  • There’s no phone number to reach customer service and you can only contact them online.
  • There are other secured cards that don’t charge an annual fee.
  • You won’t earn interest on your security deposit, something you may find with another secured card.

Fees and APR

  • There’s a $39 annual fee with this card, in addition to the security deposit you put down.
  • This card has a 13.99% variable APR.
  • There’s a 3% foreign transaction fee with this card.

Extras and perks

There are no extras or rewards with this card. Along with the potential fees, the lack of extras hurt this card’s overall Bankrate score.