If you're looking for a credit card with low interest rates and no annual fee, you might be interested in First Progress. It is open to residents of all 50 US states. There is a $200 non-refundable deposit. You can also add up to $2,000, if needed. You can increase the amount of your deposit at any moment, but First Progress must be approved first. Once your approval is granted, you will receive the deposit immediately and a check within ten weeks.
Low interest rates
First Progress Platinum Select Mastercard has a $200 minimum deposit. You can also deposit more money, up to a credit limit maximum of $5,000. It is relatively low at $39, which offsets the higher APR.
The First Progress Platinum Select Mastercard has all the features you need and low interest rates. It comes with a refundable safety deposit and reports to the major credit bureaus monthly. Your credit history will improve if all payments are made on time. Plus, you'll be able to upgrade to a second credit card after six months of on-time payments.
Sign-up bonus not available
You should know the details of each credit card and all fees before you make a decision. First Progress offers a Platinum Prestige Mastercard(r), secured card. You will be charged a $10 cash advance when you withdraw cash with this credit card. In addition, the card charges a 3% foreign transaction fee. Moreover, the card has a late payment penalty of up to $29 if you miss a payment more than once within a six-month period.
While this credit card does offer no sign-up bonus and rewards, it is an excellent choice for people looking to improve credit scores. First Progress Platinum Select Mastercard Secured Card doesn't offer a sign-up bonus. Instead, the card reports monthly payments at major credit bureaus to help you rebuild your credit score and improve your credit history. Other benefits of First Progress platinum-series Mastercards include $0 fraud liability and ongoing credit monitoring. This credit card is internationally accepted. It can also be managed via an app or online.
No annual fees
There is an annual fee for the First Progress Platinum Prestige card. However, this card has other fees. If you are late with your first payment, you will be charged $29 For every six missed payments, an additional $40 will be due. While this is not an important point to remember, it can make signing up a little more difficult.
First Progress is a credit line that does not require you provide a credit score in order to approve your application. When you apply for credit cards, most issuers will verify your credit history with the major credit bureaus. This is called a hard inquiry, and it can lower your score by a few points and stay on your credit report for two years. First Progress doesn't conduct hard credit checks. This means that your credit score will not be affected. Instead, First Progress relies on a security deposit to protect against any defaults on your account.
All 50 US states are eligible
The First Progress secured credit card is a revolving line of credit, based on the security deposit. It has no minimum credit score requirement and is accepted in most countries. The credit card fee for the year is $29, and it includes foreign transaction fees. Customers can apply online and receive their credit card within two to three business days.
To apply to First Progress Secured Card, applicants will need basic identity information such as income and financial obligations. You must also be able provide a security deposits. First Progress will not conduct a hard credit review, which can harm your score. In addition, if you don't have a credit history, the card issuer won't conduct an inquiry. Generally, the approval process takes up to three weeks. The security deposit protects the lender from losses in the event of default.
No hidden charges
First Progress, a credit card provider, offers fully-featured account with a security deposit and a rotating credit line. Customers must have a bank accounts in order to sign up for the card. This allows them to avoid paying separate payment vendors. Customers have another benefit: they can pay their monthly bill using their bank account.
The First Progress Mastercard is a fully-featured card. This card allows consumers to establish new credit and pay their bills on time. It also reports to each of the three credit bureaus every monthly. After six months, the company offers its customers a second credit line.