If you're looking for a credit card with low interest rates and no annual fee, you might be interested in First Progress. The credit card is open to all residents in the 50 states. There is a $200 non-refundable deposit. You can also add up to $2,000, if needed. Your deposit can be increased at any time. First Progress must approve your request. Once approved, you'll be automatically credited the deposit and receive a check within 10 weeks.
Low interest rates
First Progress Platinum Select Mastercard has a $200 minimum deposit. You can deposit more and get a credit limit up to $5,000. It is relatively low at $39, which offsets the higher APR.
First Progress Platinum Select Mastercard features a full-featured card that offers low interest rates. It comes with a refundable safety deposit and reports to the major credit bureaus monthly. You'll build a credit history if you make all your payments on-time. After six months, your credit score will improve and you will be eligible for a second credit card.
There is no sign-up bonus
Be aware of all the options and fees available when you are choosing a credit line. First Progress offers the Platinum Prestige Mastercard(r), a 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. If you make more than one payment in a 6-month period, the card will charge a $29 late fee.
It is available to people who are building their credit, even though it does not offer any sign up bonus or rewards. First Progress Platinum Select Mastercard Secured Card is not a signup bonus. However, it sends monthly payments to all major credit bureaus. This helps to reestablish credit scores and improve credit histories. Other benefits of First Progress platinum-series Mastercards include $0 fraud liability and ongoing credit monitoring. This credit card is worldwide accepted and can be managed online and via mobile app.
There is no annual fee
The First Progress Platinum Prestige creditcard does not charge an annual fee. However there are some fees. Late payments can result in a $29 charge. There will be an additional $40 charge if you are late on more than six payments. Although this is not a major issue, it is something you should keep in mind when signing up.
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 hard inquiry. It can lower you score by a few points, and will stay on credit report for at least two years. First Progress won't perform hard credit checks. You can rest assured that your credit report will be fine. Instead, First Progress relies on a security deposit to protect against any defaults on your account.
All 50 States: Available for people
First Progress secured credit card offers a revolving line credit based upon a security deposit. You can apply for it in almost all countries, and there is no minimum credit score. The annual credit card fee is $29 and includes foreign transaction charges. Customers can apply online to receive their credit card in two to three days.
To apply for a First Progress secured card, applicants must provide basic identity information about their monthly income and financial obligations. They should also be able to provide a security deposit. First Progress does not do a hard credit check. This can cause damage to your credit score. The card issuer will not conduct an inquiry if you don’t have any credit history. The approval process can take up to three weeks. The security deposit serves to protect the lender in case of default.
No hidden charges
First Progress is a credit provider that offers fully-featured accounts along with a revolving loan line. This credit line is based on the security deposits. Customers must have a bank accounts in order to sign up for the card. This allows them to avoid paying separate payment vendors. Another benefit to customers is the possibility of paying their monthly bill from their bank accounts.
The First Progress Mastercard is a full-featured credit card. This card allows users to establish new credit, and pays their bills on the due date. It also reports to each of the three credit bureaus every monthly. It also offers its customers a second card after six months of regular payments.