About company
First Progress offers secured credit cards tailored for individuals with less-than-ideal credit scores. These cards necessitate a refundable security deposit and are accessible for approval, often without a thorough review of your credit history. These cards serve as a viable option for individuals seeking to rebuild their credit, with the added benefit of minimal credit score requirements. Additionally, some First Progress cards refrain from conducting hard credit checks during the application process, making them more accessible to a broader range of applicants.
Key features
- Secured Credit Cards. First Progress offers secured credit cards, providing an avenue for individuals with bad credit to obtain a credit card by providing a refundable security deposit.
- Free Mobile App. Accessible convenience is provided through First Progress's free mobile app, enabling cardholders to manage their accounts on-the-go, conveniently monitor transactions, and track their credit-building progress.
- Online Application. Simplifying the application process, First Progress facilitates online applications, allowing prospective cardholders to apply for a secured credit card from the comfort of their own home or on their preferred device, enhancing accessibility and convenience.
Pros and cons
Pros
Cons
Reliability
First Progress is considered reliable, as evidenced by its A+ rating from the Better Business Bureau (BBB). This rating reflects the organization's commitment to maintaining high standards of business practices and customer service. A+ ratings from the BBB typically indicate that a company has a strong track record of delivering on its promises and treating its customers fairly. Therefore, individuals considering First Progress can have confidence in its reliability and credibility as a provider of secured credit cards for individuals looking to rebuild their credit.
Products
First Progress Platinum Prestige Mastercard Secured Credit Card
The First Progress Platinum Prestige Mastercard Secured Credit Card offers several appealing features for individuals looking to rebuild their credit. With the opportunity to earn 1% cash back rewards on payments, cardholders can benefit from a rewards program while responsibly managing their finances. Additionally, the flexibility to choose a credit line ranging from $200 to $2000, based on the security deposit, provides tailored credit solutions to suit individual needs. Importantly, the card reports to all three major credit bureaus, allowing cardholders to build their credit score over time. Notably, there is no minimum credit score required for approval, making it accessible to a wide range of applicants. Cardholders who maintain a low balance and consistently pay their credit card bill on time each month typically experience an improvement in their credit score. However, it's essential to note the card's terms, including a regular APR of 15.24% (variable) and an annual fee of $49, which should be considered when evaluating the overall value proposition of the card.
First Progress Platinum Select Mastercard Secured Credit Card
The First Progress Platinum Select Mastercard Secured Credit Card offers a range of benefits for individuals seeking to improve their credit profile. With the opportunity to earn 1% cash back rewards on payments, cardholders can enjoy rewards while responsibly managing their finances. The card also provides flexibility in choosing a credit line between $200 and $2000, determined by the security deposit, catering to individual credit needs. By reporting to all three major credit bureaus, the card assists users in building their credit history over time. Moreover, there's no minimum credit score required for approval, making it accessible to a broad spectrum of applicants. Cardholders who maintain a low balance and consistently pay their credit card bill on time each month typically observe an enhancement in their credit score. However, it's essential to consider the card's terms, including a variable regular APR of 19.24% and an annual fee of $39, when evaluating its overall value proposition.
First Progress Platinum Elite Mastercard Secured Credit Card
The First Progress Platinum Elite Mastercard Secured Credit Card provides a range of features designed to assist individuals in rebuilding their credit. With the flexibility to select a credit line ranging from $200 to $2000, based on the security deposit, users can tailor their credit limit to suit their needs. By reporting to all three major credit bureaus, the card helps users establish and improve their credit history over time. Importantly, there's no minimum credit score required for approval, making it accessible to a diverse range of applicants. Cardholders who maintain a low balance and consistently make timely payments on their credit card bill typically experience an enhancement in their credit score. However, it's crucial to consider the card's terms, including a variable regular APR of 25.24% and an annual fee of $29, when assessing its overall value proposition.
Conditions and requirements
Conditions
- APR. The annual percentage rate (APR) for First Progress credit cards ranges from 15.24% to 25.24%, depending on the specific card and individual creditworthiness.
- Annual Fee. Cardholders may be subject to an annual fee ranging from $29 to $49, depending on the card variant and terms.
- Credit Line. The credit line offered by First Progress credit cards varies from $200 to $2000, based on the security deposit provided by the cardholder.
- Cash Back Rewards. Cardholders have the opportunity to earn up to 1% cash back rewards on payments, providing an incentive for responsible card usage.
- Build Your Credit Score. First Progress credit cards report to all three major credit bureaus, allowing cardholders to build and improve their credit score over time with responsible credit management.
Requirements
- Deposit Range. Applicants must be able to deposit between $200 and $2,000 as a security deposit, which determines their credit line.
- No Credit History or Minimum Credit Score Required for Approval. Unlike traditional credit cards, First Progress credit cards do not require applicants to have a credit history or meet a minimum credit score threshold for approval.
- Age. Applicants must be at least 18 years old to apply for a First Progress credit card.
- US Residency. Applicants must be residents of the United States to be eligible for a First Progress credit card.
Network of ATMs
The network of ATMs associated with First Progress credit cards may not be explicitly specified, but generally, these cards are accepted wherever Mastercard is accepted. This broad acceptance ensures that cardholders can conveniently access cash and make purchases at millions of locations worldwide, leveraging the extensive global network of merchants and ATMs affiliated with Mastercard. Therefore, while specific details about the ATM network may not be provided, cardholders can rely on the widespread acceptance of Mastercard to meet their financial needs wherever they go.
Apps like First Progress
- Grow Credit offers a credit-building platform that enables users to build credit by paying for subscription services. It works by offering users Grow Credit credit card and then reporting their payments to credit bureaus to help build credit history.
- Cushion is a financial management app that helps users negotiate bank and credit card fees, find and cancel unwanted subscriptions, and build their credit by paying bills.
- Kikoff is a credit-building platform that offers a credit line of up to $500 without requiring a credit check. Users can make small monthly payments, which are reported to credit bureaus to help establish or improve their credit score.
- Self is a fintech company that offers credit-building loans and credit cards aimed at helping individuals establish or improve their credit scores. Their app provides features for managing loan accounts, tracking credit scores, setting financial goals, and monitoring progress.
Editorial opinion
Additional Resources
- First Progress Reviews
