First Progress Secured Credit Card
Sponsored Card
- Minimum Credit Required:
Bad - Network: MasterCard
- Online Response:No
- Secured Credit Card:Min Deposit of $300
- Full-feature Platinum MasterCard secured credit card.
- No credit history or minimum credit score required for approval.
- Monthly reporting to all 3 major credit bureaus to help build credit.
- Set your own credit limit, which is secured by your deposit of $300 - $2,000.
- Deposit held at FDIC-insured bank.
- 24/7 access to your account online.
- The First Progress Platinum MasterCard Secured Card requires no credit history or minimum credit score for approval, but the refundable security deposit must be provided before a card can be issued. The new CARD Act regulations also require all credit card issuers to verify the identity of every applicant before approval. We can usually complete this identity verification using fast, automated methods, but it is sometimes necessary for us to contact an applicant in order to verify his or her identity. Applicants will receive their cards more quickly if they respond promptly to our call or letter relating to this verification process. Virtually every applicant who successfully provides the refundable security deposit and passes the identity verification step will be approved for the card. If you have applied for the card and have a question or want to check the status of your application, please call First Progress toll-free at (888) 403-4783.
| Annnual Fee $39 |
Monthly Fee None |
One-time Fees None |
| Purchase Rate 14.99% |
Grace Period 25 days |
| Cash Advance Rate 19.99% |
Cash Advance Fee 3% (min $10) |
Max Late Fee  $35 |
Max Overlimit Fee None |
Max Penalty APR None |
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Before applying for a credit card we recommend that you review and verify the credit card terms and conditions on the credit card company's web site. Please let us know if you find any differences related to the First Progress Secured Credit Card shown on this page.
The card information shown on this page was last updated: May 23rd, 2012 at 3:33 EDT
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Where is my money I need a contact number so I can talk to someone or I will be contacting an attorney and bbb
Try calling 1-888-403-4783 so that you can reach First Progress and inquire about the status of your secured credit card application.
Ok, so when you’re looking to build or rebuild your credit, you probably want to keep costs low right? I mean, if your credit was damaged it might have been due to money problems and if you are just new to the credit world or a stay at home spouse looking to maintain credit standing, you don’t want to be wasting money either. This is especially true since secured cards aren’t going to offer you much in the way of rewards or low interest rates, which means there’s really nothing to pay for. There are secured cards out there that don’t charge fees and secured cards all offer basically guaranteed approval, so you wont need to be a better candidate to get one or anything like that. Anyway, all I’m saying is keep that in mind when you’re checking out the First Progress Secured Credit card because there’s no reason to settle and waste money. Now, if the First Progress is the cheapest option out there, you’d need to look no further. I think a nice pro/con list can help us make that determination. Pros - The fact that you can get the Secured First Progress Card if you have the $300 to place a minimum deposit has to be a plus since itll get you started building credit as long as you pay your bills on time. Cons - The fact that you need to throw down $300 to get the First Progress Secured Card has to be a minus since most secured cards only require a $200 deposit. It’s all about that liquidity, baby! - And of course the First Progress Secured Card’s $39 annual fee doesn’t put a smile on my face. All in all, you can do better than the First Progress Secured Credit Card. I recommend the Orchard Bank Secured Card instead because it doesn’t charge an annual fee in the first year, and a year is usually all you need to build the credit necessary to get a regular credit card.
Mark Lanin · Stamford, Connecticut. I did not complete application but First Progress immediately without authorization charged my account by $300 and did not respond to my req to refund it.
I need your guys to return the moneyback in my acc.
I had none of these issues that I know of. I applied for it, was approved very quickly and now hve my card. What it will do for my credit score is yet to be determined but I will update asap.
Avoid at all costs. I filled out the application and within one hour, First Progress deducted the funds for the deposit. I received an email about one week later stating that my money would be refunded by check as my application was denied. I am still waiting for a refund that should have never been removed from my account in the first place. When I call, they will say nothing more than to expect a letter. I wouldn't trust this organization in the least. They should have approved me prior to removing funds for a security deposit on an account that they now have no intention of opening. I can't see anything good coming from doing business with them based on my experience. I'm not upset they declined me rather I am upset that they removed the deposit prior to approval.
try applied bank its cheaper to start and they have a lower apr
how much did you put down? i just filled out an app last week.
No they used the same application that i submitted to them however they did send me some type of application and stated if i disagreed with what if i am not mistaken check systems had to say about my banking history that i could submit that application to them explaining why but the application was just like a bank application so i don't know about that one
I will go wil the first progress secured credit card simply because it is SECURED and approval is based off of the amount you deposit however I was approved for the Capital One Secured card but failed to make my $200 payment in time I was declined by the Orchard Bank/HSBC Secured card due to my banking history? ( I was unable to open a deposit account with HSBC bank so therefore enabling me from opening up a so called SECURED credit card go figure.
This is very interesting. If I understand you correctly, in order to open an Orchard Bank Secured Credit Card they required you to open a savings account with HSBC (parent company of Orchard Bank)? If yes, did you have to submit another application for the savings account?
Thanks for the heads up. I've considered Capital One, Citi and Orchard.
Of the secured credit cards that you considered we would love to hear which one you chose and why.
I've been approved for Capital One already so that's the for sure one that I'm going with. Orchard will likely be the second if I chose to go with a second. Although Capital one has a higher interest rate than Orchardm, it's a brand that everyone knows, the annual fee is $29 with no hidden and processing fees. For a refundable $49 deposit, my credit line is $200 and for every dollar extra that I decide to deposit, they match dollar for dollar. If I send a $100 deposit, my credit lines goes from $200 to $251; if I send $200 deposit, my line of credit is $351...and it can go up from there. After a year or so of good payment history, I'll be eligible for a secured card.
LaKiesha Boyd - This is very helpful. We think that you made a very good choice since according to our database of 1000+ credit card offers, CapitalOne and First Premier are the only companies to offer partially secured credit cards and the Capital One Secured Card is by far the more superior choice since it has much lower fees and APR's. Just a few clarifications: 1) If you send $100 your credit limit will go from $200 to $300 and if you send $200 your credit line will be $400; 2) After some time of solid payment history you will be eligible for a fully UNsecured credit card; and 3) Almost all secured credit cards will allow you to increase your security deposit over time and will increase your credit line for the exact same amount.
The First Progress Secured Credit Card has an interesting name. No, it’s not because of the word “secured.” That just means you have to place a refundable security deposit for approval. This security deposit serves as your credit line and provides the issuer with the security needed to charge relatively and offer what amounts to guaranteed approval. Rather, the reason why the First Progress Secured Card has a funny name is because it certainly won’t allow you to “progress” to a better credit score with as much of the money you had “first” of all as possible. For this reason it does not take “first” prize among secured cards in helping your credit standing “progress.” The First Progress Secured Credit Card’s $39 annual fee and $300 minimum deposit requirement are simply too high. Contrast that to what the Orchard Bank Secured Card charges, for example. It has a $35 annual fee beginning in the SECOND YEAR and only requires a $200 deposit. Therefore, it allows you to build credit at a cheaper price than the First Progress Secured Credit Card and maintain more liquidity in the process. Minimizing fixed costs is so important to credit building precisely because you do not need to actually make purchases in order to do so. You can simply lock your card in a drawer and benefit from positive information going into your major credit reports each month. Since you might be able to progress to an unsecured credit card in as little as a year, the Orchard Bank Card can therefore allow you to build credit for free while the same cannot be said of the First Progress Bank Secured Card. Oh, and there is a reason I haven’t even mentioned interest rates. Secured cards are going to have high rates because they are built for people with limited or damaged credit, and for this reason you should always pay for whatever purchases you make with one in full.